Friday, February 7, 2014

Fundraising for your festival or event? Setting your budget?

If you have a festival and no start-up seed money, you're not alone. Thousands of festival organizers see that same scenario each year. So this year, start something new. When you're creating your line items for your budget, add a line called "2015 seed money." When your cash starts coming in, put some there - first. Resist the temptation to touch it. Treat it as a savings account. You may even want to open a separate bank account just for your seed money - just so it won't be easy to touch.

At the same time, ask your donors to sign up for two years. Be sure to get their commitment on paper. A signature goes a long way. Granted, we don't know what next year will look like financially. But, at least you've got their commitment now to include you in their own 2015 budget.

MARKETING TIP: Save yourself, and your sponsors, by making it easy for them to partner with you. Think ahead.

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