In partnership with

Here’s what we will cover today:

• Discover an often-overlooked funding source for your business

• Learn 3 rules to avoid entrepreneur burnout

• Gain 10 business lessons from top entrepreneurs

Quote of the Day

“An organization, no matter how well designed, is only as good as the people who live and work in it.”
~Dee Hock

Today’s Tip

A while ago, I worked with a nonprofit client that was struggling to raise funds. They had a dedicated team, a great cause, but they were stuck. The usual methods of crowdfunding and grants weren’t yielding the results they needed. That’s when I suggested they tap into an often-overlooked funding source: corporate sponsorships.

At first, they were skeptical. But I knew there was an opportunity to position their nonprofit as a mutually beneficial partner to local businesses. So, we reframed the approach. Instead of simply asking for money, we worked on crafting tailored sponsorship packages that offered value to both parties.

We focused on the businesses’ goals including brand visibility, community engagement, or access to new customer bases, and highlighted how the nonprofit’s mission aligned with those objectives. For example, we pitched a local coffee shop on sponsoring an event in exchange for exclusive brand placement and a connection to a community they cared about.

Within a few weeks, they secured several local sponsors, each eager to be associated with a cause that resonated with their customers. Not only did this provide a steady funding stream, but it also opened doors for in-kind donations, like venue space and promotional support, that were invaluable.

By shifting the focus from donation to partnership, you can create long-term, sustainable funding that goes beyond a one-time contribution. It’s about building relationships where everyone wins.

Today’s Resource

Give Your Business the Ultimate Holiday Gift: Funding

Reflecting on 2024? Set a powerful resolution: Secure funding for your business.

Raising capital can be difficult, but not with the right approach. 

I'll guide you with a step-by-step strategy for getting the funding your business needs to grow.

Don't let limited funds hold you back. 

Trivia

Today’s Question: What is the last name of the business tycoon behind the "No. 5" perfume?

Previous Question: Famous for being the world's first publicly traded company on the world's first stock exchange, what defunct company holds the record for the most valuable company ever? After adjusting for inflation, the value is more than $7 trillion in today's dollars.

Previous Answer: Dutch East India Trading Company

The Dutch East India Company was the first company to go public on the world's first stock exchange.

News

3 rules to avoid burnout fate of 70% of biz owners

10 business lessons from the smartest entrepreneurs

Help Other Entrepreneurs & Business Owners

Do you know someone who could benefit from our newsletter?

Please let them know they can sign-up here.