Thanks to those of you who joined us live on the Mastermind class today. Here’s a summary of what went down:
Hot Seat #1 and only: Bronwen Beecher (a PHD student) filled out an HSPF (Hot Seat Prep Form) asking for help with brainstorming various ways she could raise money to get her new E.P. produced prior to her big event on October 8th. If any of you happen to be in the vicinity of Salt Lake City, UT and want to see an amazing musical performance and support one of your fellow Abundant Yogis, please reach out to her and lend your support.
After asking Bronwen to bring us up to speed on her progress and the options she’s pursuing to fund the E.P. production, it became clear that there were lots of options, but a few stood out because they seemed the most “downstream” – so we explored those during the call. Namely, to:
- Get crystal clear on the exact dollar amount she needs to raise to fully fund the project (including a decent buffer).
- Reach out to her event sponsor to explore different ways they might support her in funding the E.P. production in addition to the event. These could include direct funding (perhaps through an accelerated grant) or indirect funding through networking opportunities.
- Source a list of people and entities well known for their financial donors to the arts, then approach enough of them to put the statistics of success in her favor. Ask for a direct donation using some of the following sales framework:
- Explain why she’s calling them specifically, how she got connected to them, and what exactly she’s looking to achieve on the phone call.(Ex: “My name is Bronwen Beecher, and I was referred to you by ____ because of your many years of being such a generous supporter of the arts here in Salt Lake City. The reason for my call is to explore the details of a very time sensitive project I’m working on here locally that launches October 8th, and see if you or someone you know might be in a position to give me some feedback and even offer some support. Do you have 5 minutes now so I could give you the basic overview and we could quickly decide if this is something you or someone you know may have an interest in exploring further?)
- Nail down her 2-3 minute pitch.(Ex: I’ve been a musician, teacher, and performer for X years. I’m currently sponsored by ______ (a 501c3 organization) for my first production release party in 10 years –– happening on Oct. 8th. I’ve successfully beat thyroid cancer and have been in recovery, and this will be my come back release and event etc. etc. I’ve worked hard to grow my International fan base to XXXXX people (including all social media platforms, email list, etc.), X% of which are local. I’ve got the venue booked and ______ has guaranteed a minimum of 100 tickets sold for the release party, but we’ve come up short for the production costs associated with getting the EP recorded. I’m working directly with _______ (a 501c3) in an attempt to raise 12K by Aug. 5th to fund the project. We’ve got __ days to raise the 12K, ideally from one primary sponsor in order to avoid having to source funds through alternate means (which are very limited and would only further complicate the successful launch of this project). Our hope is to locate a person or organization with the means to assist ______ (the 501c3) in funding the production in exchange for _____, ____, and ____ (i.e. marketing placements in X,Y and Z, tax-deductible donation, and the pride that comes from supporting a local collective of artists etc.). Would this be an opportunity that you or someone in your network would be willing to discuss with me in person?)
- Be prepared to put the #’s of success in her favor by making sure her call list has enough people on it to connect/pitch at least 10 potential donors – with the hope of generating the needed funding.
- Be prepared to fund the project with a loan by a set date (i.e. Aug. 5th) at the lowest interest rate possible in the event that Plan A doesn’t work out. Realize the gift is in the skill gained by attempting to avoid going into debt… but also be willing to do whatever it takes in the end.
All in all, it was a quick call (the Hot Seat lasted 45 min.), yet there are lessons anyone can extract and apply to any big important goal that needs to be broken into doable bite sized pieces.
All our love,
-Kris, Kraig & the AY Team