One of the things we did for our charity bike ride across Australia was get lots of great sponsors.
The other thing we did was not get some sponsors.
You see, some sponsors aren’t worth getting.
The amount of work to provide value to attract and service some sponsors can far outweigh the value.
Here’s an example:
- We approached a sponsor for a $290 bit of equipment.
- We presented the potential sponsor with a proposal detailing the full range of benefits they would receive.
- A 1 hour phone call with the potential sponsor followed where they wanted a whole range of additional benefits that would have taken close on 10 hours to provide.
With 2 hours work I can earn enough money to buy the bit of equipment.
Sometimes it just doesn’t make sense to get some sponsors.
- The value you provide them far outweighs the value they provide you
- The work to provide the benefits to them far outweighs the value you get provided
With anything in your business, weigh up the cost/benefit for everything you do and then proceed on that basis.