Blog by Stephen Halasnik, Co-founder and Managing Partner of Financing Solutions
I was a guest on Stephen Halasnik’s popular The Nonprofit MBA Podcast and had a candid conversation about what works, and doesn’t work, when seeking nonprofit sponsorships. He wrote this great post about the topic. Click here to listen to the podcast episode!
Knowing how to attract successful sponsorships for fundraising events has always been a big challenge to nonprofits. The inability to develop a comprehensive working plan for fundraising events has negatively impacted many nonprofits leading to a poor revenue stream generation for the successful operation of these organizations.
The major problem is that potential sponsors are unaware that many nonprofits exist until they reach out to them. And getting in touch with these sponsors entails being systematic of some sort. Owners of nonprofits should be ready to go the extra mile in knowing what endears your nonprofit to businesses. Business executives want to be sure that the investment they make yields an attendant positive result. However, having a clear roadmap will help nonprofit organizations in identifying and drawing companies to sponsor their fundraisers.
One good thing is that it doesn’t matter if you’re a small nonprofit or international organization. What is overly essential is that you apply some fundamental principles while soliciting and signing on sponsors. Learning the requisite skills in fundraising will help you seal sponsorship deals effortlessly. Creativity is of utmost significance in preparation for a fundraiser. Owners of nonprofits should have the ability to use their imagination to produce novel ideas that appeal to their sponsors. It is important you think of sponsorship as a valuable opportunity you offer for a business to partner with you to grow its reputation and popularize its brand.
Think Like a Business
Businesses don’t sponsor events just for fun; they are always rational in decision-making. No company would want to risk putting their money in a program with minimal or no benefits. Moreover, owners of nonprofits should bear in mind that sponsorship deals are veritable avenues companies use to boost their image to the public. Having known this, you should learn how to think like corporate executives when securing a sponsorship deal. Thinking like corporate executives means adopting similar strategies businesses use to scout donors. You should be able to convince your potential sponsors with your sponsorship package. That’s to say, that the investment they are making will generate a sizable return for their companies.
Learn more about how Queen Bee Fundraising can help your organization succeed with fundraising events!
About Stephen Halasnik, Financing Solutions
Stephen Halasnik is the host of the popular, The Nonprofit MBA Podcast. The Nonprofit MBA podcast’s purpose is to help nonprofit leaders. Stephen is the Co-founder and Managing Partner of Financing Solutions, a leading provider of Lines of Credit to nonprofits and small businesses. Stephen is a best-selling Amazon author and is considered a leading authority on building great, purpose-driven businesses. Stephen lives in New Jersey with his wife, Gina. Mr. Halasnik’s number one purpose is raising his two boys, Michael and Maxwell, to be good men.