Running head: FINANCES IN BUSINESS MANAGEMENT 1 FINANCES IN BUSINESS MANAGEMENT 4 Finances in Business Management Joshua Rodgers Instructor Baskette Ashford University SRV 425 Event, Meeting, & Conference Management 09/24/2018 Finances in Business Management Each business activity requires money from the entrepreneurs or investors. The sources of finances can be from the credit institutions, family members, auctioning of business assets, grants and fundraising. In business, one can use fundraising to raise some capitals for business management. The processes of fundraising can very be challenging for business. However, proper organization and planning will lead to the successful experience in fundraising. The fundraising process requires different activities such as setting of goals, brainstorming ideas, developing the plan, seeking publicity and searching for sponsors. Firstly, the setting of goals in preparation for fundraising. The configuration of goals will be necessary for determining the amount of money that is required to be raised. Also, in setting for the time needed for fundraising. The goal also assists in knowing the costs incurred in the process of fundraising. The goal should be realistic and achievable. In addition, the goal will help in developing the timetable for the fundraisers. Secondly, the brainstorming ideas that will lead to successful fundraising activity. The process of brainstorming involves noting down innovative and creative ideas that will be helpful for fundraising purposes. The designs should be written in the book for future reference. Thirdly, the plan development for the fundraising process for business. This involves analyzing activities according to the ideas has after brainstorming. In the process of developing the plan identifying the number of individuals, the time required, and the sacrifice needed to accomplish the process of raising money. Then, time is required in order to create a good plan. Fourthly, seeking publicity for awareness purpose in the society. After the arrangement of the event activities then next step is informing people. This will be done by the use of business fliers on bulletin boards, press release, featuring stories and use of social media platforms. The lastly, searching for potential sponsors for the business event. This involves of writing the names of the potential donors who might have interests in supporting the fundraising event. Then, the next step is writing of personal letters in the bid to persuade them to offer monetary support to the business. Personalized messages increase the opportunity of winning the hearts of the sponsors. There are several risks associated with the fundraising event. Firstly, lack of clarity in writing fundraising proposals, In the process of writing personalized l.