Get Sponsors for Your Business and Succeed!

by Luci McMonagle | Luci's Blogs

Every entrepreneur, man or woman, needs sponsors for their business, so that they can raise money to invest in their products, services or marketing. Following are some tips for women entrepreneurs to attract sponsors:

• You need to be clear about your demographics and platform; demographics mean the market you are targeting. If your target market is men, then you need to know about their influencing power on purchase decisions. Consider the publications, which your target market indulges in the most, for example, Men’s Health.
• You need to have a sponsor proposal; it has to be a compelling proposal so that the sponsor you are targeting will not be able to refuse. You need to connect with the sponsor on a personal level.
• To attract the sponsor, you can start with a story, as to why you started the business, your inspiration, what you do and its importance. You also need to explain the benefits that your business has for the sponsor.
• If you don’t have experience in attracting sponsors, then you should seek help from experts in the field.
• You need to ask sponsors for money, because they won’t ask you how much money you need.
• You need to promise specific media coverage, by telling sponsors about the mediums through which you are going to promote them.
• Don’t sell yourself short, because if you don’t believe in your business and you ask for less money, then why should the sponsor believe in your business?
• Find the right person to communicate with your sponsors, someone who can persuade others and has a charismatic personality.
• You need to keep in touch with your sponsor, otherwise they will feel that you don’t care!

Sponsors are an important part of the business and you need to learn how to attract them!