Well I’ll say! I’m composing my new sponsor proposal and there’s a LOT of stuff I don’t know. The thing is, many of us don’t know stuff about our businesses and never consider them until we’re filling out that dreaded paperwork, business or marketing plan, budget, tax filings, or proposals. Why you gotta go and do that, love, huh?
The best way to prepare for those moments is to do the work to figure it all all ahead of time. If research is involved, pull reports and stats to analyze data pertinent to your forms or plans. If it’s accounting reports you need to run, get to running them. Don’t rely on guesses to get by.
The biggest problem in my case of the proposal blues is not having done the work and research involved with other facets of my business. For example, I need to describe a marketing plan for the events I’m producing. Well, erm, I don’t have a marketing plan for my events just yet. Lol
I laugh but it highlights a common problem that I see most specifically in consultations. I ask, “What is the budget for this project?” or “What is the timeline for this?” It’s not the end of the world if you don’t know, but it’s crucial to get the information so that you are always on the pulse of what’s going on.
I was embarrassed to have a money coach ask me how much I made last year. I actually hadn’t calculated anything to date. I had a round about figure but imagine what I could be armed with if I could rattle off impressive numbers to potential investors like those savvy entrepreneurs on Shark Tank.
The reality is if you were on Shark Tank, you might look like a dear in headlights if they asked you How many sales did you make? How many clients do you have? What’s your target audience? What are your plans for the money?
It’s very noble to call ourselves entrepreneurs but we sometimes really don’t know what we’re doing and don’t have a clue about what’s really going on with our companies. It would really suck if we were being interviewed and couldn’t answer even the simplest of questions.
So, rant aside, I need to go grab some hard data about my audience so that I’m sure I target them correctly and formulate a marketing plan that really captures them. In turn, I’ll have the information I need to complete this proposal I’m working on.
I hope you can answer the important questions if you’re asked. If not, don’t procrastinate in digging for the information and recording it for future reference. You’ll be glad you did.