It’s estimated that a record $4.5 billion will be spent on TV ads alone in the 2016 federal election cycle, according to National Public Radio. Candidates from both parties are going to have to work extra hard to raise the funds necessary to be part of such an expensive conversation with the electorate. Here’s a look at a few fundraising concepts that have paid major dividends for some leading presidential contenders; entrepreneurs can utilize these concepts to secure capital for their business endeavors.
Have a clear vision for the future
To raise the amount of money needed to run a presidential campaign in America, a candidate needs to compress a range of different policy positions down into a simple core idea that communicates their vision for the future. Similarly, an article by Entrepreneur points out that entrepreneurs operating in the modern landscape need to articulate what makes them unique, what success they’ve already achieved and how they plan to build on that success in the future in order to hook investors and consumers. If your brand lacks a coherent and concise narrative, it isn’t a brand at all.
Confidence is key
Whether you’re a seasoned veteran or a neophyte owner, pitching isn’t easy. Even if you passionately believe that you have what it takes to turn your ideas into a successful business in today’s hyper competitive marketplace, it’s not easy to communicate that confidence to strangers who have the ability to turn your lifelong ambition into a reality. To get an idea of what kind of confidence you need to really nail a pitch, according to the Huffington Post, entrepreneurs need look no further than billionaire businessman and leading presidential candidate Donald J. Trump. His ability to communicate his confidence in his ideas, and his absolute certainty that he can execute those ideas elevated his candidacy from amusing long shot to leader of the pack in just a few months.
Money doesn’t make you a winner
In business and in politics, we tend to associate money with success. When a company secures hundreds of millions of dollars in venture capital funding or a dark horse candidate shocks the world by raking in tens of millions of dollars in donations, we assume that their success is a foregone conclusion. However, time and time again, that has not been the case, as a once promising company blows through all their capital trying to prop up an unsustainable business model or a candidate’s formerly unstoppable momentum evaporates seemingly overnight. It’s important to keep in mind, whether you’re trying to win the presidency or establish the next big brand, fundraising is a means to an end, not an end unto itself.
This article was written by Mario McKellop of Examiner.com for CBS Small Business Pulse.