How To Apply for a Small Business Grant Without Wasting Your Time
Not to be confused with a small business loan, a small business grant is a sum of money that a private organization or government entity gives to a startup to use toward very specific business functions. The biggest difference between the two is that a loan needs to be repaid, and a grant does not. However, the operative words in that initial definition are: “to use toward very specific business functions.” A small business loan affords you freedom to use the money however you see fit to run your business, whereas a small business grant must be spent in ways specified by the granter.
You can apply for a small business grant through a number of platforms, including the U.S. Small Business Administration, the U.S. Chamber of Commerce, or through your local and regional government sites. You can also utilize sites like the government database Grants.gov to search for small business grants offered nationwide within the United States.
But a small business grant can be just as difficult to secure as applying for a small business loan or pitching your startup to investors for venture capital. It’s important to ensure that you meet all eligibility requirements and follow all application instructions. This might seem pretty self-explanatory, but this is often where applicants go wrong. Once you know you’re eligible, you should include as much numbers-based information in your application as possible, as well as a business plan. The biggest mistake applicants make when they apply for a small business grant is failing to prepare and do enough research before submitting their application.
Preparation and research take a lot of time, especially when you need to find time to actually run your business too. As entrepreneurs, our focus is pulled in a number of directions and it can be difficult to prioritize important tasks over others. In this case, applying for a grant might not seem as critical as your day-to-day functions, but without funding, those daily functions won’t be necessary at all if the business fails. Balancing both types of demands on your time can be overwhelming.
We understand how challenging time management can be as entrepreneurs. That’s why we created an app that allows you to make daily commitments based on your current mindstate. These commitments can be personal or professional in nature, but entrepreneurs agree that making these commitments has vastly improved their time management skills, as well as their overall execution of bigger tasks and projects.
The Founders First app also offers tools that can help improve your focus and boost your productivity. For instance, you can utilize the ten clearing breaths exercise to release tension and let go of distractions. This can help return your focus to the tasks that matter most that day, and rejuvenate your overall energy.
When you apply for a small business grant, you need to make sure you give yourself enough time to submit the best application you can. If you rush through the process, then you may end up getting denied, or worse - you may find that you’ve applied for a grant that your company isn’t even eligible for. There’s no bigger waste of time than distraction. Instead, use the Founders First app to find calm and improve your time management every day. It could very well lead to more funding opportunities for your business than you ever imagined.
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