TimeBanks vary from place to place and mission to mission.
Like every great journey, starting a TimeBank begins with a single step. And like all great journeys, it calls for planning, preparation, and commitment.
Two key ingredients that nearly all TimeBanks need are leadership and funding, and it's important for you to consider what your preferred leadership approach is and how you plan to sustain your TimeBank.
Leadership
Some TimeBanks are led by a single coordinator while others share this role. Some TimeBanks have an advisory board while others go light on leadership and rely on their members to post, promote, and manage their exchanges.
A common setup for neighborhood TimeBanks is for coordinators to earn time credits for the hours they invest. If funds are available, some coordinators are paid on a part-time basis and 'topped up' with time credits if they invest more hours.
Funding
TimeBanks inevitably have hard-money expenses and how they find funding to cover those expenses varies. Many raise funds from their members through annual donations. Others run fundraisers.
Some TimeBanks are sponsored to help fulfill a mission that is shared by the funding organization. Others are run from within an organization or agency with a non-profit mission. Some seek funding from foundations, government agencies, and the public.
The start-up journey
For a broad overview of the start-up journey, check out the video from Ioby below:
Learn from a Leader: How to Start a Time Bank from ioby on Vimeo.
Gathering With a Purpose
If you are thinking of starting a new TimeBank, our Gathering With A Purpose offers TimeBank leaders and members both new and old to experience timebanking informally. From workshops, TimeBank 101 self-guided training, mentorship, and monthly programs are all designed for people to experience and learn more about TimeBanking.