how to ask for money

How to ask for money

Selena Deckelmann, PostgreSQL + Emma @selenamarieJ Chris Anderson, Couchbase @jchrisTeyo Tyree, Puppet Labs @brainfinger

Who’s asked for money?

You can do this.

3 acts

1. Boot-strapping

2. Venture Capital

3. Lessons Learned

The Acts

Boot-strapping

Act 1

2008

Bart - $2000Selena - $2500 (loan)Rick - $5000 (loan)

DAY 1

Bart - $2000Selena - $2500 (loan)Rick - $5000 (loan)

And ~$-16,000 in contracts

DAY 165

Ted Kaczynski of conference chairs.

Only sent to one company.And they had a lot of feedback.

Who do I know that will give me money?

Who do I know that will give me money?

$36,000 in cash$15,000 in-kind

$26,000 in registrations$4,000 left over

~70 people, 29 companies~20 knew me personally

2009 stats:

Your network is bigger than you think.

Venture Capital

Act 2

J Chris Anderson

Seriously, we can be friends with VCs.

Teyo Tyree

I have a special relationship with my VC.

Lessons Learned

Act 3

• Build relationships and communicate.

• Ask again anyway.

• Hire a graphic designer.

• It’s really six steps.

• Find a mentor.

Build relationships and communicate.

Communication is the compost of fundraising.

Be visible.

Do what you say you’ll do.

And if you don’t, communicate why - now.

Ask again anyway.

People say no, a lot.But not as often the second time.

Yes59%

No41%

In 2009Asked 49 companies

Yes66%

No34%

In 2010Asked 33 companies

$1241 per sponsor

$2006 per sponsor

Hire a graphic designer.

3. Hire a graphic designer.

3. Hire a graphic designer.

“charging big sponsorship fees with marketing-centricsponsor benefits”

“How does it serve the community?”

“I suggest you refine your plans to focus on 2 or 3 areas.”

• Ask for money

It’s really six steps.

It’s really 6 steps.

1. Identify a need.

2. Tell someone.

3. Ask for money.

4. Get the money.

5. Spend the money.

6. Say thank you.

Find a fundraising mentor.

“charging big sponsorship fees with marketing-centricsponsor benefits”

“How does it serve the community?”

“I suggest you refine your plans to focus on 2 or 3 areas.”

Refine your pitch.Practice.

• Build relationships and communicate.

• Ask again anyway.

• Hire a graphic designer.

• It’s really six steps.

• Find a mentor.

How to ask for money

Selena Deckelmann, Emma @selenamarieJ Chris Anderson, Couchbase @jchrisTeyo Tyree, Puppet Labs @brainfinger

Thanks!