Seeking Funding in Support of Your “Dream Goal”

Have you ever wondered how some individuals—whether they are entrepreneurs, educators, business executives, or everyday people–manage to successfully and consistently secure financial backing to help launch or sustain their “Dream Goals”? 

Without a doubt, unless you are independently wealthy or fortunate enough to capture the attention of a sponsor with similar interests and sufficient capital, convincing someone to support your venture is not likely to be an easy task.

Likewise, in this era of economic challenges and constantly changing priorities, potential funding sources have diminished and, if offered, tend to be increasingly highly competitive. BUT DO NOT DESPAIR! Opportunities to support development and/or sustainment of innovative, creative ideas do exist. You just have to diligently seek and act upon them!

How do I go about locating such financial backing?

Securing funding through the art of successful grant writing (or proposal development as it is sometimes called) is one such avenue by which a project or idea may be financed either partially or in full.

Funding opportunities may be sought from a variety of sources, such as  those sponsored by individuals (frequently celebrities and wealthy philanthropists), non-profit organizations, private foundations, trusts, and corporations, commissions, businesses, federal, national, state, regional, local, international, entertainment, and other venues. 

Requests for Proposals (RFPs, as they are sometimes called) are issued by a funding entity, or you may even initiate your own personal request under certain circumstances. The source you choose depends on the availability of funds offered to finance your proposed project. 

How can I help ensure that my request to support my “Dream Goal” is worthy of consideration for funding?

Many factors impact selection of a request for funding. Ultimately, the funding source will make the final decision. However, a successful request typically takes the form of a uniquely crafted proposal—one that clearly and convincingly expresses bold ideas designed to make a definitive impact on research, innovative creations, replication, training, development, service or other types of models.

In most cases, the number and types of projects to be supported, the range of awards to be given, the duration of funding awards, and the conditions of project implementation are defined by the funding entity.

The content, scope, design, and complexity of a project are usually determined by the applicant in collaboration with the funding source representative. Many endeavors involve the creation of strategic partnerships or some form of meaningful collaboration with like-focused groups or individual(s).

Whether you are a novice or seasoned grant writer, you must first develop a keen understanding of the essential mechanics and components involved in the proposal development process. Successful grant writing is a learned skill that requires perseverance and the willingness to meticulously conform to conditions set by a potential donor.

However, before you become disillusioned and give up on the process without even trying, let’s take a look at some of the common prerequisite features for successful proposal development you already possess. Take a couple of minutes to answer the questions below.

(Don’t worry, you can’t fail.)

Prerequisite Test to Determine Grant Writing Success

1. Are you (or potential collaborators) of at least average intelligence?
2. Do you (or potential collaborators) possess an area of special interest or professional expertise?
3. Are you (or potential collaborators) at least minimally creative?
4. Are you (or potential collaborators) interested in a specific problem, issue, or topic that has been of either national, regional, state or local significance?
5. Are you (or potential collaborators) resourceful?
6. Are you (or potential collaborators) tenacious in your pursuit of worthwhile efforts?
7. Are you (or potential collaborators) diligent (hardworking, industrious) in your work ethic?
8. Do you (or potential collaborators) remain committed to the completion of tasks, even when the going gets rough?
9. Are you (or potential collaborators) well-organized?
10. Do you (or potential collaborators) have the “guts” to pursue difficult tasks in the face of seemingly overwhelming opposition?
11. Do you (or potential collaborators) possess an insatiable desire to explore and make an impact on new and exciting areas of study or personal interest?

If you answered “Yes” to at least seven of the questions above, please seriously pursue your intent to learn how to write a successful grant proposal.

If you answered “No” to four or more of the questions above, you are strongly encouraged to continue researching this topic with the intent of learning to write a successful grant proposal.

(See, I told you that you couldn’t fail this test!)

Now that you’re seriously considering whether or not to undertake this challenging, exciting venture, let’s break the process down by delving a bit deeper into what it takes to become a successful grant writer.

The following are some strategies for getting started, suggestions for developing a Concept Paper and a Letter of Inquiry, as well as a brief overview of basic components that appear (in some form or another) in many funding opportunity applications.

Tips For Getting Started With Grant Writing

• Determine the overall “Dream Goal” that you wish to pursue.
• Explore specific topics, themes, issues, or areas of interest (related to achieving your “Dream Goal”) on which you wish to concentrate. Be sure to brainstorm the “What” it is that you need funding to support. Write down all possibilities.
• Prioritize your list of areas that will need funding support.
• If you are a novice grant writer, it is advisable to select only one area of primary focus from your “What” list initially. It is important not to tackle too many priorities at once. 
• Develop a Concept Paper that you can use to “shop” your ideas and possibly obtain input from others with whom you would like to collaborate in developing your proposal.
• Once you have organized your thoughts and your team of collaborators (if desired), begin your search for funding support related directly to achieving your “Dream Goal.”
• Target a potential funding source.
• Develop a Letter of Inquiry to be sent to the potential funding source.
• Remember, that while the terms or conditions, format, and other requirements may vary, a thorough knowledge of the vocabulary associated with the different types of funding sources is a necessity.
• Stay focused! Your task has just begun!

Writing A Strong Concept Paper

The following are some basic suggestions for developing the all-important Concept Paper. Completing this step of the proposal development process is quite valuable as it will help you to refine your initial thoughts prior to tackling writing the actual proposal components.

1. 1. Develop a Concept Paper that is no more than two to three pages in length.
   2. Ensure that you use clear, concise language free of unfamiliar professional jargon.
   3. Outline goals, objectives, and outcomes in terms that are observable and measurable.
   4. Describe the basic design for your proposed project. 
   5. Describe the duration (length of time) you wish to conduct the project. 
   6. List participants, partnerships, and key personnel needed to support project activities. 
   7. Develop a preliminary budget that covers anticipated personnel and other costs.
   8. Describe the potential impact of the project.
   9. Seek input from other individuals with similar interests or knowledge of your topic.
   10. Revisit your personal schedule to determine if you have adequate time to devote to your proposed project. Adjust timelines if needed.

Keep This In Mind When Writing A Letter Of Inquiry

This step may be viewed as one of the most critical in the process of determining which funding source(s) to pursue.

1. Based on information contained in your Concept Paper, write a Letter of Inquiry that clearly and succinctly articulates your request to the potential funding source.
2. If provided, follow the guidelines required by the funding source.
3. If requested, provide additional follow-up information in a timely manner.
4. Be prepared to submit letters to multiple funding sources.
5. Don’t give up or be discouraged by the lack of a response from a funding source. Instead, be persistent in your approach to identifying other potential financial supporters.

The Basic Components Of A Grant Proposal

Requirements for responding to a request for proposals may differ depending on the funding agency. The following are some of the basic components addressed in most grant proposals.

• Abstract (a two-three paragraph overview of the proposed project)
• Overall Description, including Rationale and Need
• Narrative that may include descriptions of the following selection criteria:
  • Introduction, including Overall Description and Background Information
  • Rationale and Need for the Project
  • Plan of Operation (steps involved in project management and implementation)
  • Technical Soundness (description of the project design)
  • Innovativeness (description of what makes your project “novel” or unique)
  • Impact (effect(s) the project has or will have on the proposed outcomes)
  • Importance (significance of the project/ reason project should be funded)
  • Quality of Key Personnel (names, qualifications, anticipated project roles and responsibilities of key personnel)
  • Budget, Budget Justification, and Cost Effectiveness of the Project
  • Adequacy of Resources (resources available to support the project)
  • Evaluation (comprehensive assessment of project effectiveness)
• Letters of Support and/or Commitment (including those requested in the RFP).

Final Words Of Guidance And Encouragement

Development of a successful proposal can be personally, intellectually, and financially rewarding. However, if improperly executed, the task can be (or become) an overwhelming, discouraging, and unsatisfying experience.

The “last minute approach” to initiating and completing this task is definitely not recommended. Remember, you are probably not the only person seeking funding through this source. So be diligent and confident in your quest to secure funding!