How to participate on SportyCo with your own campaign?
Athlete, club or sports organization? Check out the steps to preparing a successful campaign.
The SportyCo platform, now live with first investment campaigns, offers up and coming athletes, but also sports clubs and organizations a new channel where for financing their costs in building a career in sports. But not everyone is suitable to participate on the platform, of course. So we have prepared a short checklist helping you prepare everything for a successful setup of your campaign.
First, you have to take into consideration that SportyCo supports two types of campaigns: donation campaigns and investment campaigns. Donation campaigns are simple: your fans, followers and other members of the SportyCo community donate their SPF tokens to you to use for a specific sporting goal. You can reward your contributors with i.e. a gift, but you have no long term obligation to them – the funds are yours when the campaign is over, to use as you see fit. We encourage you, however, to use them for your stated cause, and will do a thorough background check before your campaign is approved for publishing to weed out potential scammers.
Investment campaigns are the heart of the SportyCo ecosystem. While the process of contributing to investment campaign is not very different from donating, the background and rationale behind the investment is. When receiving contribution from investment campaigns, you enter a legally binding agreement with your contributors promising them a return on their contribution. All contributors participating in an investment campaign have to go through a KYC process, and we will perform a very thorough background check before publishing an investment campaign.
A good investment campaign first needs a project worth investing into. The project can be an athlete’s career, a club’s expansion plans or similar. Think hard on how funds you’ll potentially receive can help you with your plans – and how you can improve your future prospects – from a monetary perspective. The contributors to your campaign are participating because they expect a return on their contribution, with a profit.
Prepare different scenarios for what you plan to achieve with these funds and how your contributors will share in your success. We recommend to take into consideration at least three scenarios:
- A realistic one, where you achieve most of the stated goals and your contributors can expect a healthy return;
- An optimistic one, where you successfully reach for the stars and get the rewards accompanying it – with a healthy reward for contributors also;
- A pessimistic one, where you fail to get to the point you planned, but still perform better due to the contribution, so at least a partial return can be expected.
Preparing these scenarios is not very different to preparing a business plan – and professional sports is a business, so you should have these plans ready even if you are not looking to fund yourself on the SportyCo platform. Make a good overview of your expenses (existing and potential) and potential gains (winnings, prizes, sponsorships, etc), and make a detailed calculation on how using the funds received will help you raise the gains during your career. An athlete or club can have many potential sources of income – don’t forget to include them all.
A solid business plan is the foundation of each campaign – but it’s not enough. You have to convince your potential contributors with your content also. Prepare images and videos supporting your campaign, provide a well written description of your plans and goals, and don’t forget to promote yourself on all channels you have available. Only a combination of a well prepared business plan with great materials will stand out in the eyes of your contributors.
We are currently heavily supporting all participants on our platform – but most of the work must still be done by you. In the future, we will provide you with tools to edit your campaign entry yourself, which will enable you to be more flexible, but it also means more of the work will be on your shoulders. We believe that SportyCo will enable an ever bigger number of athletes, clubs and sports organizations reach their sporting potential, so don’t miss the opportunity to be one of the first participating in the sports financing revolution.
In the following weeks we will also go into greater detail on what the process of participating on the platform entails from a more technical perspective, so don’t forget to register on our website and stay in touch with the team on Telegram.