How to Promote Your Business With Scholarship Awards
By planning, organizing and awarding a scholarship under your business name to a high school student in your area, you can make hundreds of memorable impressions for a very modest investment. This is an excellent way to create goodwill in a specific niche in your marketplace.
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Things You'll Need
- Scholarship budget of at least $50
- Preprinted scholarship certificate or printable award certificate computer template
- Signed letter of congratulations from the business owner
- Large envelope to hold all of the above materials
Instructions
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Begin by choosing the high school or high schools at which you would like to offer your scholarship. Be sure to choose schools that are located in the general vicinity of your business. If you only select one school, consider choosing the one closest to your business location.
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Determine your budget for this project. All of the scholarship funds you award should come from within your marketing and advertising budget, as the purpose of this award is to promote your business. Set aside a minimum of $50 for each scholarship you plan to award, and make sure that the funds are available.
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Contact the school or schools you've chosen and ask to speak with the guidance counselor or whichever staff member organizes the scholarship award ceremony at the end of the year. Explain that you would like to award a scholarship to a student or students at the end of the school year and be sure to mention the amount. The staff member should offer additional instructions that may vary from school to school. Explain that you will call back with more specific details including the name of the award and the method by which the winner will be chosen. Make sure you confirm the date of the award ceremony as early as possible, and mark this date on your calendar.
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Decide how the recipient should be selected. You can award the scholarship on the basis of academic achievement, involvement in activities or a student's adherence to specific values and principles. If you choose this method, you should attempt to work with the school staff for help in selecting a winner. You can also opt to hold an essay contest or some other type of competitive project. If you choose this option, make sure the concept is approved by the school staff and ask for their help in promoting the scholarship opportunity to the students, collecting the entries and, unless you would like to judge them yourself, selecting the winner.
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Name your scholarship. The name should include the full name of your business and may also include a positive personality trait that is related to your business. For instance, if you operate an executive coaching firm named Excellence Executive Coaching, you might name the award "The Excellence Executive Coaching Leadership Award." You should also carefully write two to three sentences about the type of student for which the award is intended.
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Contact the school and give the appropriate staff member all of the details you've determined in the preceding steps. Work with the school as needed until a winner is selected.
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When the winner is determined, prepare the award package. Fill out a check for the scholarship amount in the student's name, prepare the award certificate, personalize your hand-signed letter of congratulations to the winner and place all of these materials into a neat, clean envelope.
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If the school will allow you to personally present the award, dress your best and be present early at the scholarship ceremony with your prepared envelope and a short prepared speech. Do not write the speech as an overt advertisement, just briefly explain the connection between your business and the characteristics you looked for in the winner. If visitors are not allowed to personally present the awards, you should still prepare a few effective words and provide them to the school staff, asking that they be read along with the presentation of your scholarship.
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Tips & Warnings
Be sure to start this process early! If you begin any later than early March, you may not have time to complete all of the steps before the scholarship ceremony at the end of the year.
