With effective planning, proper strategies and commitment, you and your group can build a successful fundraising to finance your project or business.
To help you ensure that your fundraising event is a winner, here are 5 major components that you must include into your event plan:
Key #1 –Begin with “Why”
The first key to build a successful fundraising campaign is about YOU! Why do you want to start this project? Why everyone should care about this matter? And so on. Answering these questions will give you a clear picture of WHO YOU ARE. It helps you to find your purpose, and passion. It reminds yourselves of why you do what you are doing, in which can use to identify vision of your company or organization. The most important thing, it tells investor or donor – why they should give you money.
Key #2 – Forge Your Idea
Every great startup begins with an idea. Answers to the following questions will help you forge your creative and innovative idea into a promising business plan.
Key #3 – It’s All About Your People
The one thing that always stands out the most in an early stage of startup is YOUR TEAM. A successful startup is not only about having a promising idea. Investor or people decide to invest in your project because they see that there is a team full of talents and capable to run the business. Investors will also screen on your personal traits whether you are truthful, and commit your startup or not.
Key #4 Create A Fundraising Goal
Goal setting is one of the most important aspects of any endeavor. You need to know budgetary needs of your startup. How much money you need in order to set up your business. How much money you want to raise.
Key #5 –Returns
Obviously, people expect you to deliver something in return when giving you their money. For non-profit oriented project, donor expects you to deliver real impact of their donation in community. While, profit sharing is what investor is expected to get from investing in your startup. Therefore, you should design and develop wisely of funding options and profit sharing policy.
After successfully raising fund, you and your team have to work hard to make your dream business come true. Yet, don’t forget to keep your investors on track. Many startups forget, even to say “thank-you”, and keep every investor on track about progress of the startup.
This leads to serious management issue, which might be a cause of destruction of newly startup business. Meeting and presenting report is necessary to keep your relationship with your investor. Plus, they can advise you how to cope with some emerged challenges during running your startup business.
We wish you success in your fundraising!