money mindset Apr 27, 2020

Picture this. You are creating an event to share your new business offering with the world. You are so excited and want to share your passion with everyone. Awesome! You pick the date, book a venue and you’re all set. This could be a game-changer and lead to amazing opportunities. Your eyes glaze over as you daydream about basing yourself in the Whitsundays with a bikini and laptop.

A light-bulb goes off. What about goodie bags? You start to frantically list businesses to approach. Why wouldn’t they be delighted to support your life-changing event? It makes complete sense. Surely?

Ok now. Slow down sister. Back away from that loaded keyboard. It’s at this dangerous point that deadly mistakes can be made.

Mistake Number 1:

You’re so focused on what you want to receive rather than what you’re giving.

You can hardly wait to get those cute products in your hot hands. So what would make it a no-brainer for them to say yes? Make it easy.

Mistake Number 2:

Being too vague. Rather than stating ‘this will be promoted’ be specific. Will it be shared to 30,000 Twitter followers or just your Mum?

Share details of your various platforms and networks. If you are in the early days, be honest. Be creative about the ways you can promote. Demonstrate that you have thought about the value you are offering them.

Mistake Number 3:

Not giving people enough time. No-one likes to feel as though they have been approached as a desperate last resort.

Be professional. What would go through your mind if someone approached you only a week before an event? Give as much notice as you possibly can.

Mistake Number 4:

Using variations of these sentences either on their own or as a compelling combination:

  • It’s worthwhile to do giveaways on Facebook so I’m giving it a try. I could use some of your products;
  • This will be good for you;
  • This is a great opportunity for your business;
  • Supporting my event will really help you to move to the next level; and, one of my personal favourites:
  • This exposure is just what you’ve been waiting for. (You are psychic!)

I’ll let you in on a secret. Yes these are from real emails. As an ex-Sponsorship Manager, I was tempted to respond with a friendly critique but was busy cringing. Maybe you are a superstar, your event IS a brilliant opportunity and your two businesses are a divine union. Fabulous!

Be respectful. How would you respond to someone who hints that you should feel grateful for being contacted? You know, because they are doing you such a huge favour.

Here’s something else to consider. Yours may not be the only request that week, or even that day. Hard to believe, but just imagine that yours is one of ten similar emails that week. How are you going to differentiate so that they can say ‘hell yeah’ without hesitation.

Mistake Number 5:

You don’t know the difference between sponsorship and donation and incorrectly assume these two words are interchangeable. FAIL.

Here are some simple definitions. You may be asking for sponsorship when you want product or service donation.

A donation is given with the expectation of receiving nothing in return. It’s often a one-off and could be items that you receive for example, to use in a fundraiser or a lucky door prize.

A sponsorship agreement means BOTH parties receive benefits of equal value. Read that again.

When you ask a business to become a sponsor, you must offer them a benefits package that represents the value that you are receiving. Can you answer these questions?

  • How is being aligned with your business going to benefit them? Kind of important.
  • What is the obvious synergy between both businesses?
  • How will they be acknowledged?
  • What opportunities are there to cross-promote with any other parties?
  • How will it raise brand awareness or increase their exposure to their target market?
  • What will their ROI be?

Focus on giving tangible, rather than intangible benefits. Is it valuable for them to have their logo on 100 programs, if that does not translate into a single sale?

Note from Denise: Want to get the universe on your side? My top tips for that are here.

Bonus Mistake:

Do not send a follow-up email chasing for a response less than 24 hours after sending the first request. Unless you want to p*** off the recipient (especially if you are one of those people asking a week before the event date).

So the next time you have a brilliant idea and want to enlist support, write the most appealing, irresistible, heart-melting request that you would love to receive. What would you LOVE to find in your inbox?

Wishing you the best of luck with your fabulous business.

Michelle Marie McGrath creates Sacred Self’s organic self-love range of Alchemical oils, bespoke Sacred Scents and popular self-love cards. She’s the co-author of “Love and Oneness” and author of “7 ways to love yourself” ebook. Michelle is passionate about falling in love with all parts of herself, and creating products that remind others to do the same.


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