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May 28 2015

Grant Misconceptions

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Are you a business looking to apply for grants and a bit confused about the process? Well, we’re here to help you demystify some general misconceptions about grant funding and applications.

Misconception #1: Anyone can apply for a grant

The majority of grantmakers narrow the pool of grant applicants to registered charitable organizations and nonprofits. Incorporated businesses and startups are usually left out of the grant equation because, unlike nonprofits, they have the ability to sell a product or service for a profit. That’s why it’s important to be 100% sure your organization is eligible for funding before starting the grant-writing process.

This is not to say that there is no funding out there for small businesses and startups. It is just unlikely it will be in the form of grants, and rather in the form of tax incentives, hiring credits, and when possible, venture capital funding.

Misconception #2: Grant applications consist only of ‘writing’ and ‘submitting’

Grantwriting is based less on your style of writing and more on your capacity to plan a detailed project successfully. Forget flowery language, and focus on the content.

For first-time grant applicants, it is important to research grantmakers’ mandates, as well as their previously funded initiatives. Grantmakers want to make sure your organization is accountable for the funds they distribute to you.

Seeing as they don’t know you personally (yet), the onus is on you to make your case, and back it up with targeted research, data, and information. Take time to prepare grant applications. Make sure you are able to thoroughly analyze your project’s strengths and provide tangible solutions to mitigate any weaknesses.

Misconception #3: If your project is good, you’ll receive funding

This is by far the biggest misconception of all. In fact, there are a lot of great projects out there, created by trustworthy organizations, that will never receive funding.

Grantmakers tend to award funds based on a project’s expected impact in the community. Because grantmakers tend to receive a lot of applications during any given grant cycle, it’s their responsibility to find the ‘best’ projects within very large pools of applicants. They do this by reviewing applicants’:

  • Existing partnerships with community organizations and stakeholders
  • Social media networks and reach
  • Past organizational successes

If you are a new organization, it is likely you won’t have this information yet. To make it easier for your project to receive grant funding consider collaborating directly with a partner organization to build a track record for your project, as well as expand support for it in the community.

Misconception #4: Receiving grant money is easy and quick

The task of the grant reviewing committee is to thoroughly assess hundreds, if not thousands of applications per grant. Of course, this takes a lot of time and patience. That’s why grant funding decisions often take anywhere between 3-8 months, depending on the size of the grant (the bigger the dollar amount, the longer you are likely to wait).

So, if you are counting on a particular grant to fund your latest project, make sure you have alternative funding options at your disposal just in case grant funding is delayed, or doesn’t come through.

Some Final Questions    

Want to know how to avoid unnecessary pain when applying for grants? Prepare answers to the following questions before starting the application process:

  • Which community members and stakeholders will benefit the most from your project?
  • How will you involve participants during the planning and execution phases?
  • How will you measure or evaluate the impact of your project?
  • Do you have a workplan outlining all project steps, timeline, and resources?
  • What experience and/or qualifications does your organization have to carry out this project?
  • If activities continue beyond the term of the grant, how will they be sustained?

Written by Marisol and Silvia Fornoni, Founders of JDC.

JDC supports socially conscious organizations with finding sustainable ways to tell their stories using visual design, engaging content and non-traditional media. We help you with anything from organizing fundraising campaigns to web design and social media management.

http://www.joint-development.com

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Written by Dwania Peele · Categorized: Marisol and Silvia Fornoni · Tagged: application, apply, Canadian Imperial Business Network, Canadian Small Business Women, charitable organization, community, Content strategy, funding, grant writing, grants, grantwriting, JDC, Joint Development, Marisol Fornoni, misconceptions, networking, nonprofit, organization, partnership, Silvia Fornoni, social media, stakeholders, women

Mar 28 2015

Lessons from social entrepreneurs for newbie self-starters

As an organization that helps socially conscious ideas come alive, our teams faces the same challenges faced by first-time entrepreneurs. Perhaps you can relate to this:

marisol blog image 1

Here are 3 tips from this #socent gal for all you lovely folks:

 

  1. It’s All In The Details

Many starter projects struggle through the infancy stages. During this period, projects are usually not fully developed yet, missing details, or are unable to fully guarantee success. During this stage, nothing is perfect. Money is tight, and manpower limited.

However, if you are just testing the waters, but don’t have everything figured out, or feel a little insecure about your project – Don’t worry. Just make sure you are able to communicate your project ideas and the intended outcomes clearly. Being able to do so will already set you apart from many other entrepreneurs.

Amidst the unpredictability of starting off, use storytelling and visuals to minimize misunderstandings for your listeners. Moreover, try to engage your audience by carefully crafting your communications material ahead of time, and have someone else review it for you.

  1. Keep Growing Your Track Record

We all know it. Starting a business can put a big financial stress on business owners – no matter how well prepared they are. Plans can fall through, partnerships may crumble, economic climates will change.

When money is not falling from the sky, always remind yourself to be patient, and that clients seek out proven track records and testimonials. The more opportunities you have to prove yourself, the easier it will be to command the fees you want. Hence, look for opportunities to showcase your skills.  If you’re creative in demonstrating your abilities, the value of your product, and are not afraid to take risks (an essential part of the entrepreneurial DNA), clients will take notice, thereby making it easier for you to adjust your pricing in the long-run.

  1. Don’t Listen to Fear

People sense desperation and fear in email replies, when conducting meetings, or even when negotiating prices. And it sucks. Because if anything, fear is the last thing anyone needs – especially, when you’re already struggling to pay your bills.

Whenever you feel restlessness and desperation kicking in, just sit back, breathe and take a step back. Remind yourself of why you started. Acknowledge that failure is part of the journey. But most importantly, stop internalizing these feelings of inadequacy, and embrace the natural progression in your business.

And if all fails, be confident even when you’re not. If you have to, practice your pitch in the bathroom mirror until the words naturally glide off your tongue. Attend meetings with someone, especially if you know that person is going to fortify your presentation or overall standpoint. In other words, fake it until you make and don’t be afraid to own all the work you’ve put into your business.

Written by Marisol and Silvia Fornoni, Founders of JDC.

JDC supports socially conscious organizations with finding sustainable ways to tell their stories using visual design, engaging content and non-traditional media. We help you with anything from organizing fundraising campaigns to web design and social media management.

www.joint-development.com

Facebook, Twitter, Instagram

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Written by Dwania Peele · Categorized: Marisol and Silvia Fornoni · Tagged: business, business development, business owners, Business Woman, Canadian Small Business Women, details, entrepreneur, Entrepreneurs, fear, financial stress, JDC, Joint Development, Marisol Fornoni, newbie, selfie, Silvia Fornoni, small business, small business development, small business owners, testimonial, Track Record

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