Let’s say you were head of fundraising for a cause you really care about. Whether it’s buildings on campus, or the ACLU, or anything in-between.
Clearly, free is not an option, because then it’s not a donation anymore.
Why would someone give $100,000 to have a building named after them? Is it rude to ask a billionaire to spend $100,000 to have a dorm named after them?
Here’s how I think about it: if you’re a billionaire, you have just about everything that you can buy with money. What you might not have enough of is legacy, and respect, and being admired by people in your circle.
And it might be that naming a building after you on campus is worth $300,000 to you. But it’s only $100,000 – so I’m calling you because I would like to give you $200,000 in value. ‘Cause for $100,000 I’m going to name a building a building after you, and maybe you want that and maybe you don’t, but let me paint a picture of what that might feel like.
And if the person buys it from you, they should say thank you, because you just gave them something that they couldn’t get from anybody else, that gave them sustenance and helped them get to where they want to go.Seth Godin – on The Moment with Brian Koppelman 11/17/20 (57.25)