Sponsorship & Funding

Introductions

Dave Jarman: Head of Enterprise Education Ex Careers Service & UBU Ex Sabbatical Officer Ex Society & JCR President

Principles: You’re all running a business

that provides a service to a customer (your members)

You’re trying to create value (profit) for your organisation

You’re trying to create a valued experience for your customers

Introductions

Alex Denne: Graduate Enterprise

ConsultantSam Harris:

Graduate Entrepreneur in Residence at BASECAMP

This session

What do you need?Sources of supportOther sources of support!What can you offer in return?How much to ask for…Making an approach

What do you need?

What do you actually need? Money Space Free Products or Services Equipment or Kit Access to a resource Time & Expertise Exposure & Promotion

Most sponsors find it FAR easier to give anything other than money…

Write down what you actually want sponsorship for

What forms of sponsorship other than money could you accept?

Sources of Support

Who could supply the support you need? Graduate recruiters Local businesses National & International

businesses operating in Bristol Local groups and

organisations Other student groups

Make a list of a diverse range of potential sponsors and supporters

Other sources of support

Ways to fund a business: Loans (i.e. BASECAMP) Grants & Prizes (i.e UnLtd, the

New Enterprise Competition, Business-run Competitions)

Crowdsourcing (i.e. Sponsorcraft)

Fundraising activities and events

‘Bootstrapping’ – using profits from activities to invest in the business

Start a group business selling a product or a service to people

Make a list of ideas to raise money in alternative ways

Silly ideas are often stepping-stones to innovative ones

What can you offer in return?

Nothing comes for free – so what can you provide in return?

What could you offer a sponsor or supporter? Recruitment Publicity Time & Effort Expertise Good PR (CSR exposure) Products & Services Warm feeling inside because

they’ve done something good!

Different organisations want different things…

For each of your targets can you identify something you can offer that they might find valuable?

How much to ask for

Stage 1: How much do you NEED? Can you actually evidence

this need?Stage 2:

What is it worth to the sponsor?

What would it cost them to NOT sponsor you?

Price is basically what you negotiate between those points above!

Negotiation tactics: Know your absolute

minimum amount Walk away rather than take a

bad deal Start 50% higher so you have

room to drop your price without losing out

Look like your compromising and helping them (even if you’re not)

Aim for win-win

Making an approach

So.. You know… What you want Who might provide it What you can offer in return

How do you approach them?

Identify 3-5 ways to approach and some pro’s and cons of each

Top Tactics: Find out a name and

write/phone/email a specific person

Ask them what they want CHASE IT UP – 1-2 weeks

later Go to networking events Ask for feedback if you get a

“no” Modify your request based

on feedback

Societies

www.bristolinc.org.uk www.facebook.com/enactusbristol www.inhouse-media.com

New Enterprise Competition

Open to students, staff, and recent graduates

4-page Business Plan submission by May 2014

Shortlist through to presentation panel in Autumn 2014

£35,000 prize fundAdvice & workshops availableConcepts, Plans and Trading

start-ups all welcome and judged separately

www.bristol.ac.uk/red/nec

Business start-up support

Advice & guidanceSeed funding (£30k)Desk spaceEducation & Networking

events – ‘Monday Means Business’

Mentoring match-makingSummer Enternships (£1500

+ desk)Surgeries:

Book-keeping Branding IP & Legal Matters

www.businessbasecamp.co.ukTwitter @BristolBasecamp

Facebook search ‘Bristol Basecamp’

Basecamp Master-classes

Weekly short talks on start-up: Generating ideas Good Ideas vs. Good

Business ideas Understanding the market Company Formation Resources for start-ups IP for start-ups Finance Elevator Pitches Business plans

www.businessbasecamp.co.ukTwitter @BristolBasecamp

Facebook search ‘Bristol Basecamp’

www.bristol.ac.uk/studententerprise