The decision by Toshiba to close down its UK operations is a case in point. After the deal to build new reactors at Hinkley Point with the French firm EDF, Toshiba was favoured by ministers to design and construct a smaller power station on the Cumbrian coast.
Shutterstock Images The bank declined your loan application. Mom, Dad, and the next-door neighbor don't have money to spare. So how can you fund your business's growth, book publication, or live event? Meet Linda Hollander, the author of Bags to Riches.
When Linda needed more revenue for her business and events, she sought out corporate sponsors and found that these companies were actually willing to give her money!
According to Hollander, sponsorships are giving them better returns than traditional advertising. Who and what will corporate sponsors fund? You might be surprised. They will fund small businesses, events, life and business coaches, speakers, authors, entertainers, show hosts, athletes, self-help experts, health-and-wellness practitioners, Internet TV and radio shows, podcasts, online and offline magazines, non-profit charities, and social entrepreneurs.
Even if you don't fall into this list, it may be worth taking up public speaking or writing a book to funnel more profits into your business! And it's not incredibly difficult either. Then repeat the process again for yearly renewals.
Make It About the Sponsor, Not About You One of the biggest mistakes people make is that they wax rhapsodic about their business, but don't talk how they can benefit their sponsor. Sponsors want you understand their company, marketing campaigns, goals and visions.
You can learn this in your initial conversation with the sponsor, on social media or on the sponsor's web site. If your prospective sponsor is a public company, you can order the annual report.
When you talk to the sponsor, remember to ask them about their goals first, then go into your presentation and tell them how you can help them accomplish their goals. Be Clear about Your Demographic In the world of corporate sponsorships, your demographic also called the target audience is one of the most valuable assets that you can offer a corporate sponsor.
There are various ways to research your demographic.
Do an Internet search for statistics on your target demographic. What publications do they read? Order a media kit for these publications and get some great statistics about your demographics.
Have a Great Platform Sponsors want to know that you have extended reach to people who buy things think Oprah. These could be your clients, people on your email list, your company database, your advisory board and your strategic alliances.
Remember if you don't have extended reach to lots of people, then others do. Use the powerful strategies of borrowed credibility, media, and joint ventures.
Have Cause-Related Marketing Opportunities Cause-related marketing is a sales or promotional partnership between the sponsor and a property helping the community.
People buy more from companies that give back to the community, so the sponsor wants to be known as a good corporate citizen.Developing a marketing plan is one of the most important things you can do to ensure that your business will make a profit. This guide is intended to provide an overview of the importance of market research and analysis, product development, pricing, advertising, promotions, publicity, sales and customer service.
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Finance for Project Managers (22 reviews) Get started View pricing. Features. Premium video tutorials The Earnings Statement is a financial report that shows business profitability over some time period.
Business budgets are the financial plan of the business. They are normally created for one year at a time and allocate the spending. Bloomberg Boston Bureau Chief Tom Moroney and radio news anchors Peter Barnes, Pat Carroll and Anne Mostue are joined by top names from local business and finance to medicine and politics, along.