How do I find sponsors for a startup business?

learn more about Brad Sugars

By Brad Sugars

Opinions expressed by Entrepreneur contributors are their own.

I would like to expand my business during the summer and add a summer camp with both sleep-away and in the city sites. How can I find sponsors to help get this program off the ground? I cannot afford another business loan.
First things first: You need a business plan that will show anyone who loans or invests money what they will get in return.  Generally, by actually writing the plan you will come across the mistakes or holes in some of your thinking.

Then it's about getting a group of advisors and professionals to look over your plan.  Then and only then are you ready to go looking for money.  Too often people go see the "people with money" before they are ready and wonder why they are not taken seriously.  It's only after you have put in serious effort that people will take your idea seriously.

A great book on this subject is by Keith Cunningham, called Keys to the Vault.
Brad Sugars

Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Business News

'Crying Northwestern Kid' Turned His Viral Fan Moment Into a Successful Harvard Admissions Essay. He Says the Experience Taught Him About Empathy.

Six years ago, Phillips was watching No. 8 Northwestern take on No. 1 Gonzaga during March Madness when he became a meme.

Business News

Amazon Is Starting to Let Customers Know What Products Are Returned Often

The e-commerce giant has begun flagging certain items that were frequently sent back.

Starting a Business

Choosing A Bank For Your Startup: Here's Some Things To Consider

Although the fall of SVB has sent shockwaves across the economy and banking sector, for many small startups it's crucial to find the right bank that offers them a range of tailor-made products and services.