While starting up you need financial stability and guidance. How about finding someone who can help you with each simultaneously?

Sponsorship is very important in the entrepreneurial world mainly because it works two ways. You get expert opinion as well as financial help. This is the reason why many entrepreneurs today are going after sponsorship and not after guides. Learn about sponsors so that you understand the importance.

Sponsors and Mentors are Not the Same

Mentors are extremely valuable in that they listen to you, actually care about your problems, and lend a sympathetic shoulder for you to lean on. Sponsors, on the other hand, will take one step further and provide you the leverage to get going. Through a mentor you will learn and through a sponsor you will learn as well as execute.

Strategic Planning

Again, role models should not be your targets. You are looking for those who will catapult your business towards success. You don’t need friends here; you need allies. You need people who are authoritative in that they know what to do and they can positively tell you what to do. You have to be very strategic, thus. Also, you should reach out to multiple sponsors. These should not be connected to each other. This is important because in case one backs out you will have the others to turn to.

Barter

Sponsorship is not just about sitting behind your desk and taking day in and day out. Sponsorship is about giving and taking; it works both ways. Your relationship with your sponsor must benefit not just you but also the sponsor. Thus, you should first assess what you can give your sponsor in return. What can you offer to them?

Now that you know why sponsors are important and how you can build a lasting relationship with them you should find a couple immediately!

Entrepreneurial Learning

Many successful establishments are successful today because they searched for sponsors and not mentors. They turned to sponsors for growth of their business and maintained a healthy relationship with them.

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