If your business relies on outside financial support to stay afloat, chances are you have asked for money before. While the process can seem demeaning, undesirable, or even daunting, there are effective ways to convince individuals and institutions to commit financially to your product or proposal. Here are a few ideas of what to offer your potential investor in your next pitch.
Offer compelling arguments.
Regardless of how much money an institution or individual may have, they will not merely throw their money to aid a cause or product that does not inspire some kind of confidence in them. Use compelling statistics and anecdotes in your presentation or proposal that support your claims. Be sure not to drown your potential donor in evidence, however; you want them to walk away with a clear, concise, and compelling idea of your plans and their worth – not a head full of numbers.
Offer incentives and privileges.
No matter the amount they donate, people enjoy receiving something in return. Maybe it is a sneak peek at your exciting new product or service, or a coupon for a free coffee at the java joint down the street from your business. Maybe it is only a pen with your company or product name. Regardless of how you show your appreciation for their donation, be sure to offer something in return.
Offer recognition.
It is no coincidence that big-time donors have their names printed on so many plaques and walls. People like to be recognized for donating their money, especially if it is a cause in which they feel personally invested and involved.
Offer a celebration.
Once your proposal or product has come to full fruition, throw a celebration for everyone involved. This is a perfect time to recognize your donors for their contribution (as well as your staff).
Consider these suggestions for your next big pitch, and good luck fundraising.