Following our recent work with several nonprofits, we realize that so many NGOs are getting worried about how unpredictable the economic climate is especially with COVID 19 pandemic.
We know you just want to impact the lives of others and you need all the financial support you can get. Sadly, with the recent happenings around the world, it is important you get creative with your fundraising efforts and make sure you maximize the potential of every resource you have.
In our upcoming session How to Fund Your Nonprofit, we will be providing details about how to fundraise but for now, we will focus on one way to close your next sponsorship.
Sponsorships is another way to acquire funding. In this case, it’s important that you do thorough research and prep work beforehand so you can be ready to go when it’s time to get in contact with any potential new sponsors.
One thing I have observed is NGOs don’t prepare for opportunities. We wait around on the sideline with the hope that a miracle happens. Well, sometimes you have to go for what you need and this is how the process for finding a corporate sponsor goes:
- Determine businesses with similar missions. You’re most likely to find willing sponsors when you seek companies that share your organization’s passion and drive. For example, you can find faith-based businesses to sponsor your church or religious organization, or environmentally-friendly corporations to sponsor your conservation charity.
- Get in contact with the business. Send an email or physical letter to the businesses you’re most interested in partnering with. (There is a strategy for physical letters) .
It’s important to keep your letter short and sweet, while still taking the time to lay out potential relationship benefits. (DFA has a template for this, pray hard, we may give this as a template after the course is published)
- Explain what your organization has to offer. Sponsorships differ from other corporate donations based on the fact that it is a mutually beneficial relationship as opposed to a one-way act of kindness. You may be offering advertising space for a local business in return funding for team uniforms or a table for selling a product at a big event.
- Come to an agreement. Find what works for both parties involved in the sponsorship and come to some sort of official agreement. Make sure to lay out what funding will be switching hands, where that money will go, and what each side gets in return. This makes sure everyone is happy with the final terms of the partnership.
Once you have established a connection with a corporate sponsor, it’s important that you work to constantly nurture and maintain the relationship, even through worldwide economic ups and downs. In the best case scenario, this will be a lifelong partner supporting your organization for years to come.
Whoosh! There you have it.
Plenty more awaiting those who paid shekinah 3,500.
Prices go up as soon as the course is delivered in the email.
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