Has anyone ever used sponsors for their project?

SYS member Travis Girten recently enlightened me that sponsors are a good resource that often goes untapped by community projects. When asking him what tactics or advice he has on how to go about connecting with local businesses for sponsorship, he says, "I've found that on-site cold calls usually work the best when looking for sponsors. Putting a name and face to the charity or event always helps the sponsor feel more comfortable and excited to give all that they can. It's important to meet with the right person and make them feel like part of the team even before they commit. Its good to talk about possible public interactions and opportunities where the sponsor can both help the project and gain potential new customers."

Do you have any other advice or tactics in regards to sponsors?