Even when an organization is non-profitable, it can’t operate without finances and resources which means a company needs money to run and to achieve its goals. Most of the time, when a company is started, it is owned by a single person who was behind the great idea that made the company start in the market but sometimes when a person has the idea but not the money, he presents his ideas and business plans in front of those who have the money and can easily pay for his business.
It can be a bank, an individual wealthy person, or another company that lends money to new businesses for their growth. Once the other company or the individual is convinced that this idea has some potential and maybe a successful innovation in the market, the presenter asks them to sponsor the company or just the idea by investing their money in the idea. This way you can understand how important sponsorship is and the process through which one convinces others to sponsor an idea is called a sponsorship plan.
Here are the steps that you need to take to create a Sponsorship Plan:
- Define what you have to offer to the Sponsors:
This is the stage in which you define what kind of idea you have and what is the unique perspective about your idea. This will be like the sales pitch that salesmen give all the time because you have to sell your idea to your sponsors so that they will invest their money in you. - Do a little research on your Sponsors:
Before meeting with your potential sponsors, do some research on each one of them and get to know them a little bit closer. This way you can understand their way of thinking, their way of doing business, their preferences and likes and dislikes about business, and their approaches towards new ideas. After that, it’s time to meet with the sponsors one by one and present your ideas in front of them. - Present your idea:
In each meeting, present your idea as you have discussed it with your business associated before and say as less words as possible because you might not have more than 10 minutes of each sponsor’s time and if you don’t make a good impression in the first 2 minutes, it’s all useless. - Compare your idea with their business approaches or goals:
Once you have shared your idea with them, now compare their business goals with your idea and make them see that if you are sharing your idea with them and asking them to give you financial help, it’s for their good. This way they will take a personal and keener interest in your presentation and think more seriously about giving you financial help. - Convince them that this is a unique opportunity:
Now this is the final stage on which you have to convince them that you didn’t waste their time but allowed them to control the future of the market with your unique idea. The whole process depends on the fact that how unique is your idea and how you make them feel about it.
Sponsorship Plan:
Here is a preview of a free sample Sponsorship Plan Template created using MS Word,
Here is the download link for this Sponsorship Plan Template,
