Running a business can be a challenging undertaking, especially when it comes to finances. When you don’t have sufficient cash flow, you may find it difficult to do the things you want for your business. Luckily, you have nothing to worry about.
If you’re eager to increase your financial resources to kick off a business project or want to fund a big activity, organizing a fundraiser may be one of the ways to do it. It refers to an event with the purpose of generating financial support for a charity or other enterprises, such as your business.
However, if you’re not sure how to start, this article has rounded up some general considerations in launching a fundraiser. Read on to know and learn about them!
Table of Contents
Set Goals
When it comes to developing a fundraiser for your business, the first thing you should do is to set goals. However, if you’re having problems coming up with one, then it’s time to consider the following factors:
- Things you’re trying to accomplish – Be sure to ask yourself and the rest of the team about the ideal result you want to see. Whether you want funds to finance your expansion or anything, try to picture out what you want to accomplish by setting up a fundraiser.
- Key audiences to reach – When setting a goal, make sure you know who you’re trying to reach with your campaign.
- Things you want your audience to do – Determine the specific call-to-action for your audiences. Whether they’re asked to donate a certain amount or anything else, be sure these things are considered in your goal setting process.
- Ways to reach your audience – Don’t forget to identify the best ways you can reach and connect to your audience for your fundraiser.
Decide How You Will Collect Funds
The next step is to decide how you’re going to collect the funds from your fundraising campaign. Generally, there are several options to choose from. For example, you can either choose to do the collection online or in person. Whichever option you prefer, make sure that it’s easy to share among your network.
On the other hand, if you’re looking for more specific ways to collect funds from your fundraising campaign, the following can be excellent options:
- Digital platforms – If you want your business to develop a fundraiser for the coming holiday season, digital platforms such as GiveForms – Powerful Fundraising for Nonprofits can make it easier for you to accept online donations from around the world.
- Peer to peer fundraising – This method refers to a process wherein individuals convince their networks to support your business’s specific cause.
- Crowdfunding campaigns – Generally, crowdfunding refers to a process of financing business projects by collecting money from different individuals. All you need to do is look for a reliable crowdfunding site that connects you to several people and get funding for your business cause.
The process of donating has become more convenient, especially for philanthropists living in Europe with the advent of the Single Euro Payments Area (SEPA). This European Union (EU) initiative aims to make cross-border payments more affordable. With this, you’ll be sure that your money can be used to help more people rather than be held up by hefty transaction fees.
Target Donors Or Investors
As a business owner, asking for the support of different investors in the business industry can help you strengthen your fundraising efforts for your business cause. These investors can include:
- Angel Investors – They’re known by many names—private investors, seed investors, angel funders—but they only have one mission, and it’s to provide financial backing to startups or small businesses in exchange for ownership equity in the organization. Angel investors are financially well-off individuals and willing to fund entrepreneurs who show great potential.
- Venture Capitalists For Additional Funds – If you want to go big time or if you’ve got a more established business, venture capitalists are your best bet. However, unlike angel investors, venture capitalists are not keen on funding startups. They are inclined to injecting additional capital to emerging companies looking to mass produce a potentially ultra-profitable product or business idea. Like angel funders, venture capitalists fund firms in exchange for a rather sizable equity.
Again, the SEPA project can help you in this area. You can get more investor opportunities with the elimination of hefty transaction fees for cashless payments made in the EU region.
Publicize
Now that you have everything in place, it’s time to publicize your fundraiser and start seeing results. If you want your campaign to be successful, you need to properly advertise your event and get the word out to your donors and supporters.
Below are some tips to keep in mind to get started with the promotion of your fundraising event:
- Email marketing – Send emails to your target donors and supporters. These emails should include the event announcement, reminder, and the last-chance emails to boost last-minute RSVPs.
- Social media marketing – Take advantage of social media channels to market your fundraiser by holding a Facebook Live or creating an Instagram story that shows how your business is preparing for the event.
Final Thoughts
Typically, a great business idea or event deserves all the support it can get. This is one of the reasons why you shouldn’t hesitate to develop a fundraiser for your business. As long as you carry it out with careful planning, flexibility, and the right tools that can help make transactions seamless, you’ll get the support you need and make that business vision into reality.
Therefore, if you’re planning to start a fundraiser nowadays, keep this basic guide in mind so you can snag additional funds for your business projects.
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