Sponsorship is key to the success of almost every esports enterprise. That is why we have been focusing Season Two of the Gamers Change Lives Podcast on how to “Follow the Money”. So far, we have had some outstanding guests on both sides of the transaction.
What is better than getting the marketing manager to give you the answer you have been searching for, “Yes, let’s do this!” It is typically a long road to get to that step, but your journey is not over. The hard part is coming up. And that is to get the deal put down on paper, in black and white, with the right signatures in place.
Almost all of our guests on the podcast have brought up the importance of allowing time in the process to get the paperwork done. Probably not the most fun part, and certainly not as fun as cashing the check, but it still has to happen.
How long does this take? Well, as with most things, it depends. It depends on the level of the person giving you the approval. If they have the authority to sign off on the deal it is going to be relatively quick. But this is rarely the case. More likely, others in the organization are going to have to get on board with the deal. Sometimes even the CEO of the country business unit. So be prepared for the delay.
Some tips we have heard to make this go quicker is to be ready in advance to answer all of the questions that might come up. Of course, you won’t have them all. But trust me you will be much better prepared on the second deal than you were on the first round.
Another tip is to have someone on your side with some experience with contracts, someone who can help guide the process.
Now we heard some stories about it taking months to complete the deal. So, this is just another reason to get out there and start landing those sponsors as soon as you can. And not when the team needs to head half-way across the world this weekend.