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 Consultant Sam Harris:  Graduate Entrepreneur in Residence at BASECAMP

This session What do you need? Sources of support Other 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/ 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

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 fund Advice & workshops available Concepts, Plans and Trading start-ups all welcome and judged separately

Business start-up support Advice & guidance Seed funding (£30k) Desk space Education & Networking events – ‘Monday Means Business’ Mentoring match-making Summer Enternships (£ desk) Surgeries:  Book-keeping  Branding  IP & Legal Matters 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 Facebook search ‘Bristol Basecamp’