Fundraising

Raising funds for Racing?

Thomas Serwin Racer, Nascar

April 2nd, 2016

I am trying to raise fundings for racing where network and exposure are massive.

Any ideas how to approach and get people attracted to this? Not that many know the power behind this.
More than 65% of new companies fail because they lack funding. In this course, you’ll learn common fundraising mistakes, how to nail an elevator pitch, how to craft a killer pitch deck, where to source investments from, and all about term sheets and convertible notes.

Leo PhD Product development executive, serial entrepreneur and Angel Investor

April 2nd, 2016

Just like any other business looking for sponsorship, you need to:

1) Define your demographics - What is "massive"? You will have to clearly define the level of exposure, and how the exposure fits with certain brands' image and their advertising goals.

2) Financials - Make sure your value proposition has a good potential for great ROI for the brands and figure out the fees accordingly. Pricing in sponsorship can be difficult to figure out, and you will have to justify your ROI with good data.

3) Demographics - Figure out which brands/companies are good fit to the demographics that racing would expose them to. Reach out to them.

For reaching out, you should use personal connections, cold calls and with tools like a Media kit.

Hope this helps.

Fred Schechter Designer TGiF Design & DS4 Design

April 3rd, 2016

Tailor your pitch to the companies you specifically target. Build a platform that shows how they benefit with their sponsorship of you and your team. Make it very specific to them. Demonstrate an understanding of their business and business actions (local, national, events, in office meet & greets, industrial alignment etc.). 
Alignment with their goals will get you the funding you're looking for. Otherwise it'll be dumb luck when someone with far too much money just wants their logo splashed on the side and hasn't been approached by others. 

Bill Lennan Red Rope Social - everyone is an influencer.

April 2nd, 2016

How can you make compelling "the power behind this"?

That's the key piece. 

I've driven race cars - totally get the rush. 
How can you convert that to something a marketer salivates over?

Myles Fuchs Sales Marketing Business Development

April 7th, 2016

Hi Thomas - Dana shares good advice. Differentiation + meeting/addressing sponsor's goals & objectives are the basic keys I've found most helpful in my 25 years of sponsorship sales. Also, need to speak directly to the decision maker be they CEO/founder or heads of marketing and/or sales. Most of the time, these are your "champions" within the enterprise you are attempting to secure funds from. Hope this helps. Happy Selling! 

Stephen G. Barr Inimitable Advisor with Wide experience.

April 2nd, 2016

Excellent Bill! I'd say video would be the way.

Andrew Lockley

April 3rd, 2016

John at tribe first has already raised funding for a racing team. I know him well. Andrew

Thomas Serwin Racer, Nascar

April 5th, 2016

Thanks for all the good input.. I will carefully read all of them....

Sidney Sclar SID the SECURITY PRO at sidthesecuritypro.com

April 2nd, 2016

Find a Non Profit Sponsor.

Check out the cvc-mc.org


Stephen G. Barr Inimitable Advisor with Wide experience.

April 2nd, 2016

I'd speak with Akif Malik of Sports CoLab. He understands sports at the level you are at.

Douglas Robbie Looking for opportunities to improve your design process/Solutions Expert

April 7th, 2016

I have found you need to be able to show how you can benefit them. In all the discussions I have had seeking assistance we primarily kept the conversation to the benefits the supporter recieves.