August 7, 2007
Raising Capital: How Do Grants Work?
How do grants work as a capital-raising strategy?
Grants are fantastic if you can get them. Grants are given for many different purposes. They are given to non-profit organizations and sometimes to for-profit organizations that meet certain criteria. If you have the ability to get a grant, and the work you’re doing qualifies for a grant, I’d consider putting forth some effort to apply for one.
Be warned, however, that it typically takes a long time to get grant money, and you won’t know whether you’ll get the money or not. In addition, to give your application the best chance of achieving funding, it should probably be written by a professional grant writer. Grant writing is a specialty niche.
Do grant writers work on commission?
Everyone in the world would like them to, but what they typically do is a "hybrid." They’ll ask for some dollars up front for the writing work, then more if the grant is awarded. You will have to figure out what’s fair, but some people will work on a high-percentage commission with less up-front, while others will want all of their money up front and no commission.
About Joel G. Block
Often dubbed a "Growth Architect" by his clients, Joel Block advises companies on explosive growth strategies by driving revenue and sales. Well known in the capital markets, Joel is a successful entrepreneur, speaker and advisor. He once raised $10 million for his own startup company and later chose to sell it to the Los Angeles Times. Would you like to get a private phone consultation with Joel? Visit www.joelblock.com/capital for details.
Go Out And Stake Your Claim!
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1 Comment »
August 15, 2007
George Manlangit said:
"Grants are fantastic if you can get them."
I believe this is the hard part to grants. It is already hard enough to figure from a lot of grant sources that charge for the list of grants, but it is time consuming, not to mention emotionally draining, to do this yourself. I tried it several years for business capital funding and was extremely disappointed at the results. I think NPO have creater chance of getting grants than for-profit ones.
Maybe you can share with us in one of your blogs how to effectively get the attention of grant funders and achieve success. I have 0 track record on this so I could not share anything, other than to keep trying.