How to assess your private investment readiness
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Why you should assess your readiness
Before you get started, it’s helpful to pause and assess whether you’re ready to ask for private sector support.
By completing a self-assessment, you will be able to:
- recognise your existing strengths and what’s working well
- identify gaps and opportunities for growth
- decide which skills, resources and relationships you need to develop
- focus your efforts on the areas that with make the greatest difference
- track your progress and continue building your private investment capabilities over time.
You can use our audit tools to help you assess this.
Step 1. Select the right audit tool
We have an audit tool for individual artists and a tool for arts organisations. Select the one that suits your situation.
Audit tools to assess private investment readiness
Step 2. Assess your current private investment profile
Do exercise 1 in the audit tool. It looks at what, if any, private investment support you or your organisation currently receives. This includes:
- any income you receive from different types of private investment
- the types of supporters you have.
Step 3. Assess your current skills
Do exercise 2 in the audit tool. It looks at your current private investment skill levels across the 4 core areas of:
- communication and storytelling
- managing resources and capacity
- strategy and planning
- managing relationships.
Identify your current skill levels using the matrix. It has 3 progression levels:
- beginner (getting started)
- intermediate (building momentum)
- advanced (leading).
What skills do you need for private investment?
Learn about the core skills you need for private investment success.
Step 4. Identify opportunities for growth
Do exercise 3 in the audit tool. This is the final exercise and asks you to reflect on:
- any gaps you’ve identified in the audit
- focus areas to grow and develop private investment opportunities.
