Finding ways to get your project funded can seem like an enormous challenge. Securing funding for a project can seem daunting, but with the right approach, it’s entirely achievable. This simple guide provides expert advice on 16 ways to give yourself an advantage in creating a funding proposal. Boiling down my experience in an easy to follow format. By the end, you should have a clear idea about how can I get my project funded.
Key Takeaways:
Planning is Key: Before seeking funding, clearly define your project’s goals, methods, and impact.
Do Your Research: Understand potential funders and tailor your proposal to their interests and priorities.
Start Small & Test Your Concept: To manage cost and risk start small and scale up. Start big and fast rarely goes to plan.
Craft a Compelling Narrative: Tell a story that resonates with your audience and emphasises your unique value in creating positive impact.
Focus on Evidence and Data: Always back up your claims with data, research findings, or pilot study results.
Most funding applications fail. Get ahead of everyone else with these 16 expert tips!
Table of Contents
Intro to Projects
Before we can get into the 16 expert tips on how can i get my project funded, it’s actually important to get clear what your project is in practice and create a strategy for success..
If you just want to skip the theory to to the expert advice just click on the link above to creating a strong proposal.
What is a Project?
“A project is a temporary endeavour undertaken to create a unique project service or result.”
When you want to change it often requires extra resource, people’s time energy and investment and expertise. Meaning what you can do is limited by your access to funds. Your understanding of what the project is and is not is a crucial first step to getting your project funded, as it dictates what funds you need and therefore what you can actually do.
Using a Project Template to Make Sure Your Applications a Great.
It can sometimes, be difficult to know where to start with a project funding proposal. How do you know your saying the right thing?Use this useful template to make sure you have all your bases covered.
16 Tips on How I Can Get My Project Funded
The advice below is based on my 20 years experience on managing all sides of the funding process. I’ve seen things from multiple perspectives, the common mistakes people make and why some projects get funded and most don’t. Crucial is being able to stand out from all the rest.
The tips below are designed for you to scan and focus on a point as and when you need to, rather, than trying to remember everything all at once. So come back every so often and check you have achieved all these points. Writing a funding proposal can be hard process, but once you have struggled to the top the view is amazing. If you want any additional help get in touch.
How Can I Create a Strong Funding Proposal For My Project
Getting My Project Funded Expert Tip 1: Write a Strong Proposal
A strong proposal clearly outlines your project’s goals, methods, and potential impact. It should include a detailed plan of action, budget. As well as evidence supporting the project’s feasibility and necessity. Being concise, focused, and persuasive is key to capturing the interest of potential funders.
I’ve created the long winding road to creating a funding proposal that sets out the 10 steps to writing a winning proposal here.
Getting My Project Funded Expert Tip 2: Building Evidence For Your Project
Evidence strengthens your proposal by demonstrating your project’s potential for success. If your project it is going to get funded the evidence is the main thing that investors will want to know. They will often keenly focus on what’s the evidence that this works. Expecting you to be knowledgeable about the data. This includes data from pilot studies, research findings, testimonials, and case studies. Solid evidence makes a compelling case for the significance and viability of your project.
Getting My Project Funded Expert Tip 3: – Research Proof of Concept
Before seeking funding, validate your project idea through research. Has your idea been put into practice elsewhere? A proof of concept can include preliminary data, pilot projects, or case studies from similar projects. This step is crucial for demonstrating the feasibility and effectiveness of your project.
Getting My Project Funded Expert Tip 4: Testing
Testing your project in a controlled, small scale environment allows you to refine your approach. As well as identifying potential issues, and gather data to support your proposal. This iterative process helps in fine-tuning your project for better outcomes and sustainability.
Explore Your Funding Options
Getting My Project Funded Expert Tip 5: Explore Different Types of Funding to Get Your Project Funded.
Don’t limit your search to a single funding source. Explore grants, donations, crowdfunding, and contractual sponsorships, and partnerships. Each source has its advantages and requirements, which you can read about here. As well as tips for applying for each type of funding.
Getting My Project Funded Expert Tip 6:Research Your Chosen Funder
Understanding your potential funder’s priorities, requirements, and funding history. This can help tailor your proposal to align with their interests. This alignment increases your project’s appeal and the likelihood of securing funding.
Getting My Project Funded Expert Tip 7: Match Need with Capability
Ensure your project’s objectives match your team’s capabilities and resources. Demonstrating a clear connection between your project’s needs, its goals, and your team’s ability to deliver. This approach is crucial for gaining trust and support from funders. What funders are actually buying is your capability that they don’t have themselves. Read this blog to find out what funders really want.
Getting My Project Funded Expert Tip 8: Start Small
Whilst it’s tempting to focus on the BIG IDEA and want it to scale everywhere. In a survey by the Standish group of 50000 projects 86% of large projects were deemed failures. The data is very clear the bigger the project the more likely it is to fail.
What’s more a new project is almost always far more complicated and time consuming to get started than something that’s already running. By starting small you not only minimise risks, but you also make investing in you and your project much less risky for any investors too. It’s many times harder to fund and build a palace than it is to build a shed. Sometimes a shed is all you need to prove it works.
How Can I Engage My Stakeholders?
Getting My Project Funded Expert Tip 9: Creating a Compelling Story
Your project needs a to create a unique memorable, voice that resonates with your intended audience. Create a compelling story that highlights the importance of your work, its potential impact, and how it addresses a critical need. I’ve found that Marshall Ganz’s Public Narrative is a very compelling way to tell stories.
It is also important to use the voices (literally) of the people who would or have benefitted from your project. Someone telling the difference something made to them is immeasurably more powerful than you saying it helped them.
Getting My Project Funded Expert Tip 10: Network for Success
One of the best way to see if an idea will fly is talk to people. Go networking (With meetup it’s easier than ever to find people and attend (often free) events with people working on similar issues). Attending these events is an ideal way to practice and improve your pitch. Learn what interests and moves people. Ask them questions and for introductions. You never know where it might lead.
Getting My Project Funded Expert Tip 11: Multi-channel Communications.
Attending events is a great way to get people’s details you can then follow up on social media. Someone you have met is far more likely to say yes to a connection. Also produce materials in multiple formats: posts, presentations, and community events. Broaden your reach and engage with potential supporters and funders.
I’ve created the web of stakeholder engagement, which shows you how you can plan a media engagement strategy across multiple platforms. If you would like to learn more I’ve created this guide.
How Can I Get Buy In For My Offer?
Getting My Project Funded Expert Tip 12: Create a Compelling Pitch
Your pitch is a concise presentation of your project, designed to capture the interest of potential funders quickly. It should highlight the problem, your solution, and the impact, supported by evidence and a clear call to action. The Harvard Business Review Recommends the following 4 steps to a great pitch after surveying 1800 managers
Lesson 1: Be a master of the facts, but know that for an executive audience, your relevant experience matters most.
Lesson 2: Avoid pitches where only one person speaks.
Lesson 3: Be passionate about the problem, not just your product.
Lesson 4: Listen closely and respond carefully.
Getting My Project Funded Expert Tip 13: Don’t Overpromise
When seeking funding, it’s crucial to set realistic goals and manage expectations. Overpromising can lead to underdelivering, which not only undermines your project’s credibility. Whilst also jeopardises future funding opportunities as people will see you an unreliable. Be honest about what your project can achieve within the given time frame and resources. It’s better to exceed modest expectations than to fail grand ones. This approach is best to build trust with funders and stakeholders. Most funders are ruthlessly pragmatic. Overpromising is more likely to create doubt in them and get them asking awkward questions. A modest but realistic plan is the best way to build confidence. Change the world one person at a time.
Getting My Project Funded Expert Tip 14: Why You Should be Prepared to Adapt Your Projects.
It is often hard to start getting funding for a project. It is usually a competitive process. People with established relationships and reputations have a definitive advantage. However, listen to advice, adapt and change your plans to give yourself maximum chance to access the funds. Sometimes the person who wins the funds is the person swiftest to adapt to people’s needs. Socialise your change and gain support from people and eventually, the funds will follow.
Creating a Strategy for Managing Your Funding Proposal
Getting My Project Funded Expert Tip 15: Creating a Strategy for a Social or Community Project Using the Cynefin Framework
The Cynefin Framework by Dave Snowden helps us better understand what aspects of a project are simple, or more complex. I’ve written a guide here. By identifying where your project falls within these categories, you can tailor your approach. Make problem solving more effective and improving project management and communication strategies.
The things we want to get funded are for:
- Simple Changes that is clear and straight forwards. e.g. opening an an afterwork club.
- Complicated changes that need to be done by experts: e.g. giving people professional training.
- Complex changes that are wicked problems: e.g. reduce racial tension.
It is important to note the bits you do control, simple things and complicated things such as healthcare advice which can be done by experts. If something is complex, it is important to be wary about promising to deliver it in your proposal. E.g. providing meals for people is simple, ensuring those people are happy is complex. Therefore a funding proposal is best placed promising to deliver meals rather than happiness. (We can hope we have happy people, but we shouldn’t promise it in a funding bid!). When you consider about how I can get my project funded, think about Cynefin, to understand what things you should get funded.
Getting My Project Funded Expert Tip 16: Understanding Project Costs
As a general rule: using Cynefin simple changes usually have a known cost. Complicated changes involve experts and have a range of possible costs. Complex change have potentially unlimited costs, (They are never truly fixed.) Therefore you should never be promising them in your proposal if it’s a desired goal.
The more innovative and new the thing is the more likely it is to be on the complicated / complex boundary. As people’s knowledge improves it comes down in cost and becomes simple. e.g. building the first Iphone was incredibly expensive. Then it became less so and now it has a very known cost and is easily available.
Get Further information on How to Get a Project Funded
For more advice on how to win a funding bid, I’ve created a complete guide here. I also offer personalised support and advice to give you the maximum chance of winning a bid. Funding is a very competitive world. I’ve lots of experience and knowledge I’d love to help you with. Visit me at my website and book a call to find out how i can help you.
Take the Project Funding Proposal Strength Test
I’ve created a free online test . This will give your proposal a thorough assessment and tell you what your strengths and weaknesses. Give you a clear idea of what’s working on your bid and what isn’t. It will also tell you how and on which aspects of your bid, you can most efficiently spend your time.
Frequently Asked Questions:
How Do I Request to Get My Project Funded?
To request funding for a project, draft a very concise clearly structured proposal (ideally one one page!) highlighting your project’s goals, impact. Research potential funders to tailor your request to their interests, and articulate your case clearly, underlining the problem, your solution, and the expected benefits. Be very clear about the top level numbers cost and value of the benefit out (ideally in £)
How Do I write an Email to Get My Project Funded?
When writing an email to get funding, start with a compelling subject line to grab attention. (Please be respectful & tasteful!). Briefly introduce yourself and your project, clearly state your funding request. Outline the expected impact and benefits of your project. Include a call to action, inviting them to discuss the proposal further or review attached documents, (which should include a brief summary of evidence and research data). Express gratitude for their consideration. Keep it concise, persuasive, and professional.
Who Typically Funds a Project?
Projects are typically funded by people and organisations across society who have resources and have a vested interest in their success. They will also not have the capability to provide those services themselves. So look for organisation or people with a desire or need to do something, but not the capability or expertise.
Do You Pay Back Crowdfunding?
In crowdfunding, whether you pay back depends on the type of campaign you choose. For donation-based crowdfunding, there’s no repayment. In rewards-based crowdfunding, backers receive a product or service in return for their contribution, rather than a financial repayment. Equity crowdfunding involves exchanging equity in your organisation for funding, which does not require repayment, but gives investors a share of the profits. Only in debt crowdfunding, are you required to pay back your borrowed funds with interest.
For a Large Project How Do I Get My Project Funded?
To secure funding for a large project, prepare a detailed proposal highlighting objectives, impact, and budget. Your project is inherently risky so target organisations and people who have a lot of financial security. Target funding sources like government grants, corporate sponsors, and investors. You will need to be clear about how you are managing risk. Showcase a solid proof of concept and clear ROI to attract large-scale investments.
How Do I Find Someone To Get My Project Funded?
To find someone to fund your project, start by networking and working through your contacts. Relationships can be a big help and provide advice and support. You may also find potential partners who can enhance your project. Then define your project’s goals, target audience, and financial needs. Utilise crowdfunding platforms for broader exposure. Research and apply for grants suited to your project’s theme. Consider reaching out to angel investors, venture capitalists, or philanthropists who have a history of funding projects similar to yours
How Do You Get Accepted For Financing?
To get accepted for financing, ensure you have a strong credit history, provide comprehensive financial documentation. You may also need collateral. Clearly articulate the purpose and feasibility of what you’re financing. Tailor your application to meet the lender’s requirements, demonstrating your ability to repay. It’s also helpful to research various financing options to find one that best fits your needs and to prepare a convincing case for why your project or purchase is a reliable investment.
Conclusion
We cover 16 expert tips on how you can get your project funded. Including securing funding for your project is a journey of preparation, presentation, and perseverance. By understanding the complexities involved. As well as engaging your audience, and building a strong proposal backed by evidence. You can build momentum and support behind your project. Remember, every great project starts with a single step – your idea can be the next to make a lasting impact.
Let me know if you found this article helpful. I’d also love to hear any of the tips you have!
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