Securing grant funding can be a game-changer, taking your goals to the next level and expanding your business potential. And like any other competitive sport, the path to success lies in effective preparation, a well-developed strategy and masterful execution. To ensure you’re grant fit and ready to jump into the high stakes world of grant funding, the first step is to have a strong game plan that will help you score big with funders.
Warm up: identify your grant funding goals
Every game plan starts with a clear objective. Begin by identifying your specific funding goals. Consider the project or goal you want to achieve and articulate your mission, vision and the impact your success will have.
Dig down into your objectives and really build them out. Find your differentiators and what you expect to achieve with your funding. To structure your application effectively, you need to cover the following:
- What will go into the project – think resources
- How it will work – the processes and procedures in place to make it successful
- Why it is worthy of funding – who will benefit and how.
Having a well-defined goal will help you stay focused and effectively communicate your purpose to potential funders. If you have multiple team members working on your application, this will also create consistency in your approach.
Assemble your dream team: research and collaboration
Just as a team is essential for any sport, a strong network and collaboration are vital in securing grant funding. Start by researching potential funding sources that align with your goals. Look for grant programs, foundations, government opportunities and corporate sponsors that support relevant projects or businesses.
Building partnerships and collaborating with like-minded individuals or organisations can strengthen your grant application and increase your chances of success. If you have contacts that you know have secured funding, reach out to them to begin developing a network of fund recipients and potential fund providers.
Develop a winning grant strategy: tailor your application
A successful game plan requires a winning strategy. To write an application that will stand out and create genuine engagement with the funder, you need to tailor your grant application to align with the priorities and criteria of the funding opportunity.
Highlight the uniqueness and innovation of your project while demonstrating a clear understanding of the funder’s objectives to achieve the right balance of excitement and comprehensiveness. The strategy portion of your funding pursuit is where you can really differentiate yourself from other applicants. Be sure to focus on your unique message and how you can most effectively convey it.
Train hard: gather supporting evidence
Just like athletes train rigorously, your grant application should be backed by solid evidence. Collect relevant data, statistics, and testimonials that support your project’s feasibility and potential for success.
Include budget estimates, timelines and a realistic action plan. Show funders that you have conducted thorough research and have a well developed plan to execute your project effectively. Still not sure? The Australian Government offers some excellent advice on what constitutes strong evidence here.
Remember that funding is not usually an ongoing source of income, so your financials are a crucial component of the application. Funders don’t want to take a punt on a risky investment, they need to be confident that you have what it takes to see the project through to completion and beyond.
Review your fitness: get your grant health check
When the going gets tough, it’s time to put on your game face and bring in back-up. Securing funding is highly competitive – there is no second place, you need to beat out every one of your competitors to get the win. A successful game plan should include benchmarking your applications to ensure you are always striving for new personal bests and staying ahead of current trends.
The Aurora Marketing grant health check has been designed to identify your grant readiness and give you specific feedback on how you can further develop your applications. As leaders in the field of tenders, bids, proposals and submissions, writing content that scores with evaluators is what we have built our reputation on.
Underlying our impressive 98.5% success rate is our unique 8 layer writing methodology. This same writing method is what we use to assess and score your grant applications – that’s how you can be sure that the advice you get is based on industry best practice recommendations.
As your grant fit coaching team, we will review a grant application of your choice and provide tailored, actionable advice that will provide immediate uplift to the quality of your grant application.
Lace up your boots and go get ’em!
Applying for grant funding is undoubtedly a competitive exercise, but with a solid game plan, you can improve your chances of success. With regular benchmarking, clear funding goals, a strong team and a tailored application with an outstanding strategy, you can navigate the grant funding game and emerge as a winner.
Want to learn more about our Grant Services? Contact us today to discuss how we can help you secure grant funding and transform the trajectory of your business.