Fundraising for Music Business 101
When fundraising for any type of business or event there are numerous things that need to be taken into consideration. You need to decide what type of person you are going to target, and the selling points you will use to secure these funds. Fundraising in the music business is no different. There are 5 key points in making sure you can get the money you require for your business.
First off, you need to ‘think like a business.’ One of the ways you can do this is by recognizing that anybody with a business is first and foremost in it for the money, to make a profit. If you understand this, you should have no problem.
Second, you need to build a relationship with whoever is requesting your business. Nobody is going to give money to someone they do not trust or do not have some sort of relationship with.
Third, you must understand that YOU are the only person who can get what you want. You can not expect others to give it to you. You make your own success!
Next, you need to make sure that the people you are requesting funds from know what you’re all about. Give them a look into your life, your vision. Make them believe and feel the way you do about music.
And Lastly, you must show people that your idea will work. Prove to them that they will not be wasting their time and/or money to help you succeed. Be versatile, show them live performances, cd sales. If they do not believe you can make it, you will most likely not get the funds.
If you follow these steps, I can not promise 100% that you will succeed. (See Number 3 – you make your own success) But I can tell you that you will have a better chance at securing your funds and making your music business come to life.