Four skills to look for from your government Grant and Stimulus partner
Is grant writing a science or an art? It is closer to science, and it helps if you are creative. Grant writing is not cut and dry scientific reporting nor is it an abstract essay. Excellent grant writing is found somewhere in the middle: An articulate narrative supported by facts and receipts. This article will highlight why your grant funding partner needs to have both- strong analytical skills and intuitive narrative-based abilities.
Narrative and concise writing capabilities
Government bodies and grantors disperse money to serve a specific mandate and community. Knowing how to frame the narrative can oftentimes put you over the top or burn your application. Simply throwing your business plan/ initiatives at every grant and hoping things work out is not a strategy, it is unfocused energy. Your application should not feel shoe-horned into contention, Good grant writers clearly link the directives of the Grantor institution to your initiative/ business.
A good grant application aligns the Grantor’s mandate and your initiatives. The grant relevance should be so obvious to the reader. Its relevance shouldn’t have to be reiterated or finagled to make sense. A logical, structured application should speak to why, and how, the application supports the Grantor’s mandate, and in turn, your firm.
Research Skills and processes
Your grant funding partner must have a strong grant repository and research department to track changes. Your funding partner can only go as far as their line of sight. This is where exemplary research comes into play. Diamonds don’t shine in the dark, just like the thousands of unclaimed grants. Understanding the need for continuous research and planning is critical to ongoing success. This is the most time consuming and important step in ensuring you never miss out on relevant stimulus.
Project Management skills and experience
Grantors aim to serve their stakeholders and produce deliverables. Tangible results. Return on their “investment”. One way they accomplish this is by quantifying and qualifying their grants, using project management fundamentals. The insight into project management metrics is invaluable. Knowing how to create a cogent scope, schedule, or Gantt chart, cost plans, and monitor results in relation to a grant’s mandate is instrumental for ongoing success. It not only increases your chance of securing grants and stimulus but also focuses your initiatives for future implementation and tracks results.
Budgeting and Financial Analysis skills
Almost all competitive grants will ask for numbers and you need to come with facts and receipts. Whether it’s your business tax number, year-end statements, projected funds, or cash contingency knowing the numbers is essential for excellent grant writing. Asking for the right amount of money based on realistic figures and projection is important to Grantors and an excellent grant funding team. Being able to reasonably parse out the fine details and building a comprehensive budget document is key. It’s about knowing the comparable numbers for previous recipients and similar-sized firms. It’s about showing diversity in funding and knowing how to mitigate financial risks and uncertainty from the grantor’s point of view. Having the quality inputs will yield quality results, that’s why it is imperative to have skilled and qualified grant funding Partner.
At Office146 Advisory, we are fortunate in that we have been able to provide funding strategy solutions for countless small to medium-sized businesses during COVID and we are here to help you post Covid-19. We act as a funding agency and work with you to facilitate the funding you need year-round. Our team is experienced with countless years on the lending side of these programs, so we understand how to navigate these waters with a team that armed with skills in this article. As challenging as these times may be, remember you are not alone, and we are here to help. When you’re ready to go on the offense and grow your business – Call or email us for a free consultation. AdvisoryTeam@office146.com 416-855-4142 EXT3.