So, while working at a mid-size nonprofit in St. Louis, Missouri, I was told by the Executive Director that I was being, get this, "too ambitious," just because I wanted the majority of the children in my literacy program to reading, 'above grade level.' Needless to say, that stage ended up being too small for my vision and more importantly, my ability to grow outcome-driven programs that was getting some serious funding. In the dynamic landscape of business, securing grants can be a pivotal step toward growth and innovation.
However, despite the potential benefits, many businesses find themselves stumbling in their pursuit of grants and many more never reap the benefits of successfully landing a grant. As an experienced grant writing with a keen eye for industry trends, I've identified 5 reasons why businesses often struggle to successfully secure grants. Of course, reasons why business do not pursue grants is often due to lack of ambition, no formal process for identifying funding opportunities, no knowledge of the grant process, and business not grant-ready.
1. Lack of Clear Purpose
Businesses often falter when they fail to articulate a clear and compelling purpose for seeking a grant.
Grantors are more likely to support initiatives that align with a well-defined mission and demonstrate a genuine commitment to creating positive change.
2. Limited Community Engagement
Grantors and funding entities often prioritize projects with strong community support and engagement. Businesses that fail to demonstrate a genuine connection to the communities they aim to serve may find it challenging to secure grant funding.
3. Inadequate Research
Successful grant applications require a deep understanding of the funding organization's goals and priorities. Businesses that neglect thorough research on the grantor's history, focus areas, and past recipients risk submitting proposals that will be rejected or disqualified.
4. Failure to Adapt to Changing Grant Landscape
The grant landscape evolves over time, with new priorities, trends, and expectations emerging. We seen this during COVID-19 with a number of funding agencies requiring less stringent grant requirements. Businesses that do not stay informed and adapt their grant-seeking strategies accordingly may find themselves out of sync with the current funding landscape, greatly hindering their chances of success.
5. Short-Term Focus Over Long-Term Impact
Grantors often seek projects that have the potential for sustained impact beyond the funding period. Businesses that emphasize short-term gains without a clear strategy for long-term sustainability may struggle to convince funders of their project's lasting value.
To help your business achieve long-term impact, it is important to consider collaborating with partners, adopting evidence-based practices, or conducting a strategic analysis.
Remember, grantors look for well-structured and realistic project plans. Your plan must be realistic and make sense. Businesses that present vague or unrealistic timelines, budgets, and goals may struggle to convince funders of their capacity to effectively execute the proposed project. Being too ambitious is one thing, but not having the capacity to effectively implement a grant is another. Many grantors assess the capacity of businesses to carry out projects successfully. Inadequate internal resources, including human resources and technology, can signal to funders that a business may struggle to implement and sustain the funded initiative. Successfully securing grants requires a strategic approach that goes beyond a well-crafted proposal. Businesses that address these common pitfalls and adopt a comprehensive, research-driven strategy increase their chances of not only landing grants but also building sustainable partnerships for future growth.
Small business grants can help your business get funding for your small business to take it to the next level. Learn what small business grant programs are available, how to apply for a grant and how to prepare your grant proposals to fund your next move.
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