Introduction:
Getting grants to grow your small business can feel almost impossible, especially if you have little experience or connections, even with an innovative business idea or model. But what if the problem isn't you or your business at all? What if it's simply not tailoring your application and pitch for what grant givers actually want but won't directly say?
In this article, Frida Sharif and I, will be sharing insights and insider tips on what grant givers want to hear and how you can win business grants as an entrepreneur.
Quantify Your Value, Not Just Your Idea:
It's easy to obsess over how innovative or potentially profitable your startup idea is when applying for grants. But what judges actually assess is the social impact of your idea and how it aligns with the grant giver's mission fulfillment per dollar.
Rather than talking in circles about what your tech-enabled product could eventually do, quantify how it concretely improves incomes and living conditions for X families in year one.
Link this clearly to the societal priorities outlined by the grant - like nutrition, women's health, addiction support etc. Demonstrate how you can deliver measurable change, not just sell good ideas.
Showcase Skill Not Just Passion:
Of course, grant judges want to see you're passionate about solving problems your business addresses. But you should understand they see lots of applications with enthusiasm yet lacking evidence of capabilities to achieve the goal.
Articulate how your team's experiences, networks, credentials and past achievements equip you to effectively build the proposed startup. Accentuate wins like early traction, or achieving scale on modest resources as proof. At later pitch stages, confidently engaging judges questions further cements you as that driven, skilled founder they want to back with funds, driving even greater future impact.
Position Partnership Potential:
Here's a secret too few grant seekers realize - those grant funds come with strings attached despite not requiring repayment like loans. Beyond progress milestones, grant givers expect awarded businesses to further their organization's goals and interests exponentially through broad publicity, ambassador advocacy and more.
So, as an entrepreneur, position your startup as a potential partner to advance their goals and objectives as an ambassador and you will stand the best chance of winning the grants.
Conclusion:
Judges don't just ponder what difference grant money could make for your company, but also what your company can then do for the grant giver's visibility and agenda. Make their decision easy by showcasing yourself using these insider tips and it will give you an advantage to win grants over your competitors.
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