Adding Transparency to U.S. Political Fundraising with Nicole Loftus

Politicians have tremendous leeway in how they use donations, with some spending money on things like ski vacations. Nicole Loftus of SkinX describes how to make political spending more transparent.

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Nuggets:

  • Successful businesses are incredibly focused. This often manifests as simplicity.
  • When you’ve got high volume you can negotiate credit card fees down to 1%

Action Steps:

  1. Contact political candidates and pitch them on the benefits of a more transparent fundraising and spending platform
  2. Be simple with your strategy. Create a simple platform to collect donations and a simple ledger of categories politicians must report on.
  3. Take 5-10% of the money raised through your platform
  4. Don’t make it more complicated than it needs to be

Links:


Nicole Loftus is a seasoned entrepreneur who has previously made it to #8 on Inc 500’s fastest growing companies. She’s now built SkinX, a tech-enabled ecosystem that is ready to launch and get every American in the game investing in entrepreneurs, innovators and job creators.

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Run With It by Chris Justin and Eathan Janney is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.