The Dos and Don’ts of Acquiring Funding

Specific actions and activities may be frowned upon in the quest for funding. Organisations need to be equipped with the right tools and resources to ensure that they proceed with their activities ethically. Funds should ultimately be procured to aid community development.

Start preparations early

Start preparations early - The Dos and Don’ts of Acquiring Funding

This allows you enough time to find adequate funding and to gather more information. The time you spend gathering information can be utilised to compile a convincing presentation for your project. The company or sponsor funding your project also needs some time to process your application. A rushed application could discourage investors or sponsors.

Don’t be greedy

Don’t be tempted to raise more money than you will need. An organisation or company that has capital efficiency will have a budget outlined to direct necessary funds to projects, so sponsors will see where their money goes. Focusing on raising more money than what you may need may prevent you from efficiently allocating funds.

Talk to the right sponsors

Talk to the right sponsors - The Dos and Don’ts of Acquiring Funding

If you are looking to establish a formidable reputation for your non-profit or volunteering organisation, it would be wise to source your funding from investors who traditionally invest in your space. If an investor is not familiar with your line of work, they may have unrealistic expectations about what to expect from your organisation.

An investor unfamiliar with your organisation may also not have the necessary experience to support and advise you. If you acquire funds from a sponsor or investor experienced in your line of work, they may have the wisdom and connections to set your organisation up for success.

Focus on your goals

Finally, keep your eyes on the prize. With a clear focus on your goals as an organisation, volunteers and investors will be more inclined to show interest in your activities.