Institute for Wise Philanthropy - Richard Marker

Team Subkit -

Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Richard Marker, Founder of the Institute for Wise Philanthropy, located in Bethesda, MD, USA.

What's your business, and who are your customers?

We both teach and advise philanthropists and foundation staff, i.e., those who give money for philanthropic purposes.

Tell us about yourself

While this is my 5th career, it is the one I have had the longest [close to 3 decades]. I have been a trustee and CEO of foundations and other philanthropic entities. When the large foundation of which I was CEO closed in 2002, we established the institute and also a program for funders at a university. Over the years, I have lectured or taught in 40 countries on five continents to several thousand funders. Philanthropy matters, but few who are in the field have had the education on ethics, law, best practices, etc., that I believe should be required. We are responsible for $billions of dollars, an entire sector, public policy, and more - helping funders make informed, ethical, and wise decisions is what energizes me.

What's your biggest accomplishment as a business owner?

The recognition that our work, our teaching, our writing, and our advising have made a difference.

What's one of the hardest things that comes with being a business owner?

The decision about the most appropriate strategy and business model.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Define and understand what business model will work for you, and that doesn't always scale.
  2. The minute you stop learning, you stop knowing.
  3. Credibility and patience count a lot.

Where can people find you and your business?

Website: https://wisephilanthropy.institute/
Facebook: https://www.facebook.com/richard.marker
LinkedIn: https://www.linkedin.com/in/richardmarker1/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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