Financial independence

You have to pay for your sports equipment. You can gauge the direct benefit by the physical traits like quality, function or appearance and decide whether or not it is worth your hard earned money.

Services need to be paid for too, but are difficult to assess in terms of the cost-benefit ratio, since the benefit for you is not directly visible and measurable. So here is the fifth reasons why you will benefit from our sports management services: financial independence

“Management? I don’t need that, I can do it by myself!”

This is what probably most people think when they hear the word manager or management. But at some point, the sporting ambitions and the bureaucratic stuff don’t go along very well. Not to mention the necessary expertise in the field of social media, sponsorship, etc., which you usually do not have as an athlete.

First of all – no, we will not show you how to make 100.000 bucks within a day. We leave that to the “self-made millionaires” who you inevitably come across on YouTube and Co. Next to fitness and nutrition, being financially indepentend is one of THE topics of our society. But at least we give you the tools you’ll need, to get a company’s attention regarding a sponsorship deal.

Today, despite the sponsorship boom in sports, there is a high level of competition. Not only because numerous sports clubs or individual athletes fight for sponsors, but other areas such as science or culture vie for the favor of sponsors as well. Of course, it is important for companies that their sponsoring activities match their communication / corporate and product policies, i.e. they have certain sponsoring goals, target groups and projects. So if you want to win sponsors, it is very important not only to look at your own situation, but above all to know the sponsoring strategy and goals of a potential sponsor and incorporate them into the planning of the sponsoring management process. Only when your current situation, including the sponsoring goals and strategy is clear, it make sense to select companies and make them an offer. Without a reasonable concept, a sponsorship project is unlikely to be successful. The more professional and sophisticated a sponsorship activity is, the greater the chances of winning a company as a sponsor.

Both professional and amateur athletes often have a very big goal in mind, which they absolutely want to achieve and for which they train every day and make many sacrifices. Be it qualifying for a world championship, a mountain bike stage race over several days, the Ironman World Championship on Haiwaii, an overseas competition with high entry fees and huge travel costs or a training camp. But also clubs and teams often face big challenges and projects that they have to tackle. Be it new team jerseys or new equipment. But how should this be financed? As a top athlete, it is often easier to find financial support. But especially in amateur sports, the search for sponsors is often not so easy. And this is precisely where another, modern form of sponsoring comes into play, which has given start-ups the necessary seed capital to finance a new product:

Crowdfunding cw_sportmanagement_finance

 

Definition of crowdfunding

Crowdfunding refers to a special type of financing for projects, products or the implementation of business ideas. Since, depending on the size of the project, the capital of the project starters is usually insufficient and it can not be financed alone, the project becomes public, e.g. presented on a crowdfunding platform. Individuals, but also companies can donate any amount and thus contribute to the achievement of the financing goal. As a rule, the money is paid out to the project starter only when the targeted amount is reached within a specified time. If not achieved, all funds will be returned to the supporters.

What do you get as a supporter?

Basically, a reward for the financial support is not mandatory or intended, but of course nice to have.

There are some ways to honor the assistance. The simplest way is that all sponsors – especially companies that donate large sums of money – are made public after reaching the funding amount, which in turn sheds light on it and highlights the social component or social responsibility of a company. Thus, it is a win-win situation for both sides and quite often a crowdfunding donation turns into a serious cooperation or sponsorship with the company.

Another more common way is the offering of rewards. For example, if a club needs new team clothing and has to collect 5,000 € by crowdfunding, signed jerseys, cards, game tickets or other merchandising items can be offered to encourage cash donations. Instead of donating 100 euros without anything in return, you would rather buy a jersey. These items are either provided by the sponsors of the club – which thus can benefit from the action as well – or from external partners who offer their products across multiple projects on the crowdfunding platform.

In summary, it can be said that professional sports in particular are hardly doable without financial support from sponsors. Sponsors allow the athlete to become financially (more) independent. Be it from previous supporters such as your own family, friends or your own salary, which inevitably you have to invest in the sport, if you have no sponsors. If an athlete has a contract with a team that pays him a monthly salary, this also results in a kind of dependency. What if the team doesn’t play anymore or for health reasons, you can no longer deliver the performance that the team expects?

Financial independence is certainly the most important reason why you will benefit from working with us. Training equipment, training camps, travels, entry fees, nutrition, coaches. All this costs money and somehow has to be funded. Without sponsors and supporters professional sports is really hard. We’ll take care of the sponsorship acquisition and find partners to suit you, support you via product and money sponsorships, and help you build a solid, long-term financial base.

With partners at your side, you have one less worry and can focus on what’s most important to you – your sport!

More articles on “6 reasons why you will benefit from our sports management services”:

https://www.cw-sportmanagement.de/en/blog/multiplier-effects

https://www.cw-sportmanagement.de/en/blog/sports-management-saves-time/

https://www.cw-sportmanagement.de/en/blog/sports-management-enables-knowledge-transfer

https://www.cw-sportmanagement.de/en/blog/sports-management-means-professionalism/

https://www.cw-sportmanagement.de/en/blog/sports-management-change-of-perspective/