Questions Answered in the DGS Manual

 

 

  • How do I begin raising money?

  • How much money should I initially try to raise?

  • How do I approach businesses and manufacturers for support?

  • How do I approach individual prospects for support?

  • How should I speak with prospects?

  • How do I raise money when I do not know any individuals or businesses who might participate?

  • How do I raise money from these people I don’t know?

  • What other ways are there to obtain sponsorship?

  • How do I raise money if I am just getting started playing full-time?

  • Should I incorporate, form a limited partnership or a joint venture/sole proprietorship?

  • What are the advantages and disadvantages of these three business vehicles?

  • What are the tax implications for myself and my sponsors?

  • How is a contribution tax-deductible for my sponsors?

  • How should tournament winnings be divided between myself and my sponsors? 

  • Is there a standard division of income for players and sponsors?

  • How is this division of income and profits computed?

  • Should I include appearance fees and promotional fees as part of income?

  • Should I offer future income rights to sponsors as a selling point?

  • How should I structure any future rights to sponsors should I decide to offer them?

  • How do I put together a detailed budget for all my expenses?

  • How do I get my sponsors to cover all my at-home personal expenses?

  • How do I get my sponsors to cover additional family expense?

  • What if I go over or under budget on actual expenses?

  • What type of financial statement should I send my sponsors at the end of a playing season?

  • Should I sell shares in myself and what should be the per share cost?

  • What do I do when a prospect only wants to purchase a half-share?

  • How can I personalize my proposals to prospective individuals and businesses?

  • What does a generic proposal look like?

  • How do I put together a playing record and make it appealing to the eye?

  • How do I use old tournament results as part of a business proposal?

  • Should I include a projected income statement in my proposal?

  • How can I use color photographs to make my proposal more appealing?

  • What type of cover, binding and paper should I use in my proposals?

  • How should I communicate with my sponsors once I get started?

  • Where should I begin competing?

  • How do I put together a tournament itinerary?

  • What are the legal implications of the player sponsor agreement?

  • What if I do not play my proposed itinerary and decide to play elsewhere?

  • What are the legal and financial implications if I am injured or incapacitated?

  • Do I have to give the money back if I don’t raise the full amount proposed?

  • What do I do with the money when I begin to receive checks?

  • How do I keep appropriate and accurate records?

  • What if a sponsor does not want to sign the contract?

  • How do I avoid any future financial obligation to my sponsors?

 

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