How to Ask People for Money
A three month saga has been playing out on the Facebook page of one of Mr. No Dead Guy’s artist friends—daily postings of a GoFundMe page accompanied by incessant pleas for money to help fund a move. Interspersed with this individual’s cries of poverty are pictures of her lounging on the beach in a tropical location. As they say, the optics aren’t good. Many of us donated out of guilt, but not without a certain resentment and irritation. I’m sure this individual never planned to put her friends in this awkward position, but this is the sad result.
While this is an extreme example, it points to an embarrassing truth: most musicians are notoriously bad fundraisers. Asking for money is an art, and one for which we receive little or no training. But knowing how to approach others for funding is an important survival skill for musicians at all levels of their careers. Those who don’t ask have no way to launch projects that may be extraordinary. Those who ask poorly irritate everyone. Those who ask professionally find people and organizations everywhere who are eager to support musical projects. Thankfully, it’s possible to learn how to raise money, as long as we’re willing to ask, and to do it in a professional manner. As someone who has both sought funding and provided it to others, here are several things I’ve learned about doing it well:
Have a clearly defined project
Do define and polish your vision of the project before you approach anyone. Vague ideas, loose plans—these things don’t inspire. Write and rewrite your “pitch” until it’s clear, concise (keep it to one or two paragraphs) and irresistible. Enthusiasm and vision are contagious. It’s up to you to make donors care about the project as much as you do. Ask yourself, “why should anyone care about this project?” If your answer is, “because it’s amazing,” get back to work and find something more luring to offer. Avoid buzz words—they’re trite and everyone knows it. And watch out for confusing jargon. Everything must be presented in clear, concise sentences. One last thing: make sure the project is something you’re truly excited about because if you’re not in love with the idea, no one else will be either.
Do practice your pitch. If you plan to approach a donor in writing, edit your work carefully. If you plan a verbal pitch, rehearse it so you can speak knowledgeably and enthusiastically about the project. If you can’t explain your idea in a few sentences—clearly!—rework and simplify it. Whether in writing or in person, run your pitch past one or two other people for feedback before you share it with a potential donor.
Don’t ask for money for “operating expenses.” No one in the history of philanthropy has ever been thrilled to support “operating expenses.” Donors don’t want to help pay your rent, move your instrument, buy your car, whatever. You should be funding these things through your other professional efforts. And one more thing: guilt is not a sales tool. Full stop.
Don’t be afraid of rejection, but find out why you were rejected and adapt yourself and you presentation accordingly before you approach anyone else.
Know your numbers
Do create a detailed budget. By this I mean a line-by-line estimate of expenses. Don’t guess—get quotes in writing to show where each dollar will be going. If you’re unsure of how to do this, ask a bookkeeper or accountant friend to help, or learn from online sources. Take the time to learn the lingo and check (and re-check) your math.
Don’t “wing it.” Financial understanding is an area where many musicians fail miserably. Unfortunately, our inability to show financial acumen labels us “flakes.” People are wary of giving large sums of money to “flakes.” It’s up to us to learn how to create and present budgets, and to speak about money in a professional manner.
Offer something in return
Do give back. Whether this takes the form of a tax-exempt donation, public recognition, or something else, offer something more than anonymous involvement in the project. At the very least, a thank-you note should be sent to everyone who gives you money. As the old sales adage goes: what’s in it for them? It’s your job to provide that “something” to those who donate.
Don’t assume that basking in your brilliance and fabulousness is enough for any donor. They are doing you a favor by giving you money. If you treat a donor with disrespect, that donor will most likely never choose to give you money again. Remember that as special as we may be in the music community, we’re not owed anything just because we’re musicians. A sense of entitlement is unseemly and counter-productive. It’s a small world and word gets out quickly.
Once you’ve defined your project and worked out your budget, you’re now in a position to approach potential donors. Given that there is no “one size fits all” approach to asking for money, I’ve focused on four typical groups of people who might be eager to be involved in your next project.
Fans
When composer Joel Pierson wrote the first book of his “You Suck at Piano” piano method books for adults, he set up a Kickstarter campaign offering different rewards for different levels of donations. The campaign was clearly defined and financially detailed. He reached his funding goal within a few days, and we all threw cash at him when he wrote the next book in the series.
No artist has more ardent supporters than their loyal fans. Many of my writing colleagues have mastered the soft sell tactic of adding donation buttons on their websites. As a fan, I’m eager to contribute to them because I value their writing and want them to keep producing it.
This is the trick to raising money from fans: offer people something that makes them feel they’re part of your success. As a bonus, if they’re enthusiastic enough about what you’re doing, they’ll recruit others to be part of it too. Never forget that people like to support winners. Whatever financial problems you may be having in your life should never be shared with your fans.
Wealthy Donors
All of the arts organizations in the US are run on donations from foundations, companies, and wealthy individuals. It may not be as widely publicized, but many individual artists are receiving donations from these donors as well. I know artists who have had recordings, commissions, even entire concert series underwritten by individual “angel” investors. These donors appreciate the value of the arts and are eager to help support artists.
The most important thing to remember about wealthy individual donors is that they’re human beings, not walking checkbooks. The wealthier they are, the more they’ve had to learn how to spot who is genuine and who is trying to use them. They, like everyone else, give to people and causes they know and trust. They want their money to be fuel for an exciting artist or project. Without a genuine connection to you or your art, however, people are unlikely to give. Do your homework before contacting wealthy people in your community; only approach those who possess an interest in music. If possible, save your pitch for people who know and support your work, and with whom you already have a personal relationship.
Two important caveats: 1) beware of the nueveau riche. They’re frequently more nueveau than riche; 2) never, ever, ever, ever bring class warfare or inequalities into the conversation. People of all income levels smell resentment and entitlement before you’ve even started your pitch. No one will be guilted into giving you money. I can’t say it any more clearly than this: if you resent the rich, don’t approach them for money.
Grant Organizations
Grants have been (and continue to be) one of the best sources of steady funding for an artist. There was once a time when it was easy to find grants for individuals, but over the past few decades they have become scarcer. Today, most grant organizations prefer to give to Not-for-Profit (NFP) organizations, most likely because the NFP provides oversight regarding any funds given. This means that unless an artist has found a way to create his or her own NFP, it falls on us to find one with which to partner in order to have access to grant funds.
When seeking a partner NFP, consider which organizations might gain from your project. Will a school or a theater benefit from your idea? Perhaps another arts organization can provide you with an NFP umbrella? Remember the “what’s in it for them?” adage—if there’s no benefit for the NFP, keep looking until you find one who is as eager to see your project succeed as you are. Do your research and approach potential NFP partners with as much professionalism as you approach donors. The more community “buy in” you have for your project, the better your chance of getting a grant.
Grant applications are tedious, detailed, boring, confusing, and can seem overly complicated. Resist the temptation to skip any step. Be scrupulous about providing every bit of requested information and then have a friend edit the application before you submit it. If necessary, hire a professional grant writer. Grant organizations are interested in more than great projects—they’re also looking to see if the recipients of their money will follow whatever rules are attached to the grant once it’s given. And yes, should you win a grant, it will come with a list of rules as to how the money is spent and what kinds of reporting must be done once the grant ends. As tedious as this may seem, if we want their money, we’ve got to play by their rules.
Friends and Family
I’m tempted to write, “don’t…just don’t,” but there are times when a good friend or family member may be eager to be part of one of your projects. But tread very carefully. The one rich Grandma in the family doesn’t want to be hit up for cash every time you’re broke. Neither do your friends (of any income level). If you have a friend or family member who has offered to help in the past, approach them with the same professionalism as any other donor. Remember that they have the right to turn you down, and if they do, it’s your job to accept the rejection without resentment.
Many of us have been taught that money is distasteful and that focusing on it cheapens our art. In reality, money is a tool. It’s a form of energy. Learning how to ask for money may ask us to reexamine deeply held fears and prejudices, and most of us will be required to make ourselves uncomfortable in order to be well-funded artists. It’s worth the work and the discomfort because the more we choose to train ourselves in how to ask for and manage it, the more fuel we’ll have to bring beautiful music into the world.