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How to raise funds for your magazine

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Raising funds and building relations with potential donors, sponors, partners, etc.

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How to raise funds for your magazine

  1. 1. How ToBusiness Of Magazine Publishing Raise Funds For Your Magazine Bangalore, October 8, 2012
  2. 2. If you have a problem that money can solve – it’s notBusiness Of Magazine Publishing a problem. It’s expenses. – an old Jewish saying Bangalore, October 8, 2012
  3. 3. Recall: A Solid Foundation Build A Reliable Business Model • strong concept: to make money or to spend money?Business Of Magazine Publishing • effective strategic planning • diversified income sources • timely and effective fundraising • well planned budgeting and cash flow projection • developed marketing concept and strategy • ongoing audience and market research Bangalore, October 8, 2012
  4. 4. Effective Fundraising Sources of Funding • Foundations • Business owners or businessesBusiness Of Magazine Publishing • Major donors • Family and friends • Investors • Banks • The magazine readers • Government • Churches, denominational organization Be smart: Never limit yourself with just one source of funding your project, no matter how good/reliable/easy-to-work- with it might look like! Bangalore, October 8, 2012
  5. 5. Effective Fundraising Before You Start… Remember: God’s are all the money in the world; by giving and not giving them to us He always wants to say somethingBusiness Of Magazine Publishing • Pray hard • Listen to God • Be obedient Bangalore, October 8, 2012
  6. 6. Effective Fundraising Fundraising Methods • Mail fundraising letters to potential donors. • The structure of a typical fundraising letter:Business Of Magazine Publishing Dear_______________, Briefly state your mission and passion. Describe the need. Describe how the recipient of the letter can help meet that need. Be specific and state exactly what the reader can do. Thank you. Sincerely _______________ P.S. Briefly restate the need and what the recipient can do about meeting the need. Bangalore, October 8, 2012
  7. 7. Effective Fundraising Fundraising Methods (cont.) • Submit a grant proposal to foundations. • Contact each foundation for a copyBusiness Of Magazine Publishing of their grant guidelines and giving priorities. • Follow the guidelines exactly. • If you are at first declined, keep trying. • Send a quarterly newsletter to supporters. • Always include an update on financial needs. • Include a pre-addressed envelope for return donations. Bangalore, October 8, 2012
  8. 8. Effective Fundraising Fundraising Methods (cont.) • Schedule appointments with key business people.Business Of Magazine Publishing • Present funding needs and ways they can donate financial and non-financial gifts. Discuss among other issues: • buying a part of the print run for giveaways in churches, at the conferences, etc. • same for the publication-related products • leave them a high-quality brochure, business plan, etc. Bangalore, October 8, 2012
  9. 9. Effective Fundraising Fundraising Methods (cont.) • Create a business partnership proposal for key business people to become investors. • Offer the potential donors to split theBusiness Of Magazine Publishing commitment. • Make a “dollar for dollar” proposal. This lowers the burden. • Show personal involvement: let some money come from your church, your friends, out of your own pocket. This convinces donors in seriousness of your attitude. • Submit a grant proposal to your denomination. • Research local government grants or business loans Bangalore, October 8, 2012
  10. 10. Effective Fundraising Fundraising Methods – this mght also work… • Organize an annual banquet or special fundraising event. • Have quality music, celebrity speaker, and good food.Business Of Magazine Publishing • Take an offering at the conclusion of the event. • Organize a sports tournament with key business people. • Ask business members to sponsor a portion of the event, the food, speaker, etc. • End with a program of music and a speaker. • Take an offering. • Organize a Christmas gift campaign Bangalore, October 8, 2012
  11. 11. Effective Fundraising Developing A Fundraising Plan • Start early!! • Develop a two-to-three year plan with multipleBusiness Of Magazine Publishing fundraising activities each year. • Plan fundraising activities each year that utilize a variety of methods and appeal to multiple target audiences. • Analyze the effectiveness of each fundraising activity. [(Total income generated from the activity) – (total expenses for the activity)] / (size of the activity in units) = fundraising profit per unit • Revise the plan each year as you learn what does and doesn’t work. Bangalore, October 8, 2012
  12. 12. Business Of Magazine Publishing A Word Of Encouragement… Do not pray for tasks equal to your powers. Pray for powers equal to your tasks. Then the doing of your work shall be no miracle, but you shall be the miracle. – Phillips Brooks Bangalore, October 8, 2012
  13. 13. Effective Fundraising A real story… An example from the real world:Business Of Magazine Publishing Spikenard Publishing story Exercise Write a fundraising letter. Develop a two-or-three year fundraising plan with multiple methods and campaigns. Bangalore, October 8, 2012
  14. 14. Questions?..Business Of Magazine Publishing Thank you! Bangalore, October 8, 2012

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