What to Prepare Ahead of Your Application

1. SAM Number and Registration with the Entity to Whom You Are Applying

First, apply for an identification number with SAM.gov, as this process can take several weeks. Also, register with the entity to whom you are applying, such as proving you are a small business for SBIR grants. Ensure you are registered with all required entities for the grant.

2. Fully Fleshed Out Project or Program

A well-thought-out project or program is essential before starting your application. Research the grant and its requirements thoroughly and be ready to adjust your project to align with the funder’s requirements.

a. Background and Need
Discuss the community or market need that your project addresses. Use researched data and metrics to provide a focused need that coincides with an emotional appeal.

b. Project Description
Lay out the project in a thorough but understandable way, showcasing your expertise and how your project meets the described needs effectively.

c. Alignment with Funding Goals
Show how your project aligns with the funder’s goals, which often fulfill overarching federal or state objectives.

d. Plan with Milestones
Create key milestones and outline the steps to achieve each one. Be specific without overpromising.

e. Goals and Metrics
Develop measurable metrics to track progress and adjust as needed. Ensure these metrics are easy to measure and have data readily available to show the project’s impact.

f. Scalability
If you plan to scale your development, show a clear plan for how you will do so, including changes in profit margins and resource needs.

3. Budget

Have a clear estimate of project costs and revenue sources. Include an overall budget and a breakdown of what the grant funds will cover, aligning with the funder’s preferences.

a. Income Breakdown (Owner, Investments, Grants, etc.)
Show a diverse portfolio of revenue to make your organization stable and sustainable, keeping grant funding requests reasonable.

b. Projected Yearly Breakdown
Break down the project budget by year, especially if seeking funding over multiple years, and show a clear plan for income and expenses.

c. Previous Financials
Include previous financial statements, typically for the last three years, to demonstrate your ability to manage funds properly.

4. Previous Funding Awarded or Previous Grant Submission

If previously applied, show how your current application differs or how you’ve improved it based on feedback.

5. Who Is Doing the Work and Qualifications
Provide information on who will carry out the work and their qualifications, ensuring the funder of your capability.

6. Market Analysis

Conduct a thorough market analysis for for-profits, showing the need for your product, market opportunity, target market, and competition.

7. Job and Capital Creation

Indicate how your project will create jobs and new capital, particularly for state grants.

8. Letters of Support

Include letters from relevant partners or community members to show support and the need for your project.

Conclusion

By now, you should have a good understanding of what you should prepare before starting a government grant application. Whether you are a nonprofit or a for-profit business, having a well-thought-out plan for your project is absolutely critical. Planning out your project before starting your application will not only make the application easier, but will also ensure that you are truly applying for the right grant opportunity.

If, in the process of planning for your application, you discover that you don’t exactly align with the funding goals or the funder doesn’t really fund the activities of your project, you should probably not apply for that grant and continue looking for opportunities that are a better fit. Similarly, don’t change your program structure or project to meet the needs of a grant just for funding; you likely will create more work for yourself and not have the metrics to back up your need statement.

Government grants are no joke and if you are not ready for managing that type of grant, it can cause you many problems in the future. So, choose your battles wisely, fully prepare, and breathe. If you are truly ready, then you’ve got this!