Whether you are running or wish to start a non-profit organization or your for-profit business, you cannot achieve that without proper finances. There are several options to find the money for your endeavor. You can fund it yourself, get a bank loan, or look for a grant from other funding institutes. While most funding institutes offer grants to only non-profit organizations that aim at the services or programs for community welfare, some exceptions can offer you finances for your business as well. Having the assistance available, all you need to do is to convince the institutes to support your enterprise which is often much easier said than done. You need to present your idea in a way that convinces the financiers of your profitability. It is advisable to take professional help in grant writing at Tendered as getting money is a crucial step in bringing your business idea to reality. Whether you write it yourself or hire someone to do it yourself, here are a few tips to write a grant proposal that is most likely to win.
- The proposal is to qualify, money follows
The main objective of the proposals is to win the grant and not earn money. The grant proposal aims to qualify for the funding. You should apply for the grants only when your business’s purpose and missions align with that of the fund provider.
- Do extensive legwork
Finding a funding entity for your small/individual business can be tiring and needs a lot of research, especially for beginners. You can look around the local market to find private institutes that put in money in your kind of business. State agencies and other organizations are also good options.
- Identify the way to approach
It may sound trivial, but the way you first approach the funders is important. You can make a personal visit or cultivate a relationship call, email, or inquiry letter. In either case, you aim at evaluating their interest in your idea.
- Know your funders
Before you present your grant proposal, you must know your funders well. You can look into their website or try to obtain their annual reports to know. This will help you design a proposal that is in tune with their ideology. It helps you identify the buzzwords and even colors to add in your proposal to attract the funder’s attention.
- Follow the guidelines
Most of the institutes like the grant proposals to be in a specific format. They often have standards that bring uniformity and help them in scrutinizing. You can ask for a copy of the grant guidelines or request for proposals and give the funder exactly that they seek.
- Have a SMART objective
There are several things you would include in your proposal like the amount requested, description and history of your service/product/program, implementation, key personnel, benchmarks, etc. The most important of these is aim and objective. Often people misunderstand the two terms. It is important to have a clearly stated objective that is specific, measurable, achievable, realistic, and time-bound (SMART). Your objective should generally include a subject, location, action, percentage, and timeframe.
