Four steps to grant success
18 September 2014
Guest post by Adrian Spencer, CEO GrantGuru.
Did you know there are over 700 grants available for business worth almost $50 Billion? Many business know there’s money available through grants, but how can you be successful? Here’s four steps that will help you towards grants success.
Step 1: Think Right
Many people believe they should get a grant because they have a good business or a good idea, but that’s not correct. Grants are generally a method for a government to enact their policy in a particular area. Grants generally fund projects, not just an entire business, so begin to think about your funding needs in terms of a project, that can be clearly defined.
Step 2: Grant Strategy
Most organisations will have a business strategy or a marketing strategy. A Grant Strategy is no different. A Grant Strategy helps you map relevant programs, build a grant calendar and create a systematic approach to help you assess and determine your likely success. Use free tools such as www.business.gov.au or http://business.grantguru.com.au to find what grants are available for you.
Step 3: Grant Writing
The majority of grants are fairly straightforward to write. Make sure you answer every question professionally and succinctly, show how your application provides value for money and address all the criteria. If you want to engage a grant writer, ask about their experience, success rate and fee structure before you commit.
Step 4: Report Well
If you’ve been successful, understand the reporting requirements, and complete them as requested. If you missed out, call the grant administrator and politely ask what areas you need to improve for next time.
These four steps might seem simple, but can be vital in determining your success when seeking grants.
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