For nonprofit organizations and charities, corporate partnerships are one of the essential aspects of fundraising. You can partner with businesses in your community to receive funding, host events, raise awareness, and promote your brand.
Many corporations seek out partnerships because of the combined tax and reputation benefits. Philanthropy is popular among consumers. Corporate entities can also write off their charitable contributions as tax-deductible income.
It might seem impossible to find corporate partnerships with the economy being so turbulent. But by following these tips, you’ll be much more likely to pull in great potential partners.
Focus on strategy right away.
It might seem strange to get into the nitty-gritty details of planning, campaigns, and future investments right away. But it is the most efficient way to use your time. Not every potential partner will have compatible goals with your organization. That doesn’t mean they’re a terrible company, just that they’re not suitable for you.
Talk to the company representatives about what your organization will bring to them. Then be clear about what you need from them, and see what they’re willing to offer. Different industry experts will have different connections, resources, and ideas for taking your organization higher.
Be adaptable and open-minded.
Yes, you ought to focus on your strategy from the beginning, but that doesn’t mean you should steamroll over people! A partnership is a two-way street. You’ll need to listen to your corporate partner’s wants and decide how much you’re willing to compromise.
It would be wonderful if every partnership worked out precisely as it looks in your head. But you’ll inevitably run into snags here and there along the way. Be ready to face the challenges when they come, meeting your partner step for step.
Be proactive about communication.
Proactive communication doesn’t just mean that you reach out and check-in. It also means that you’re using the best channels to work with the other company.
For example, some places might communicate primarily through email. Others might prefer to have real-time conference calls so people can get in touch. Different businesses will have different programs to motivate their employees and plan for the future.
Learn how your potential partner communicates, and then follow their lead.