The first step to getting funding for your passion project is creating a comprehensive plan. This involves thinking about:
your goals and objectives, what resources you need, how you’ll use those resources and who can help you along the way. Say’s Nihar Gala , here are five steps I recommend to anyone who wants to turn their passion project into a funded reality through financial grants:
Make a budget.
Budgeting is the process of making a plan for how you will spend money. It’s important for both your personal finances and business, but many people don’t know how to create a budget or stick to it. If this sounds like you, don’t worry–it doesn’t have to be hard!
To create your first budget:
- List all of your income sources, including any regular payments from government programs like social security or disability insurance (SSDI). You may also want to include any other sources of money that come in regularly–like rental income from an investment property or freelance gigs on top of a full-time job–and estimate what they’ll be each month based on previous years’ earnings.
- List all of your expenses, including recurring ones such as rent/mortgage payments and utilities; one-time costs such as car repairs; groceries; entertainment expenses like going out with friends; etcetera .
Create a plan for what you want to accomplish.
Before you begin the process of applying for funding, it’s important to create a plan for what you want to accomplish. Your passion project may be an idea in its infancy or a fully-fledged venture with measurable goals and objectives. Either way, take some time to think about how best to achieve your goal(s) through financial grants.
Here are some questions that can help guide this process:
- What are the goals of my project?
- What are the objectives of my project?
- How will I measure success?
Write down your goals, objectives and design a system of governance for your project.
- Write down your goals and objectives.
- Design a system of governance for your project.
Create a list of all the resources and people you might need.
Once you’ve identified your passion project, it’s time to create a list of all the resources and people you might need. This will help you determine what tools and expertise are required to achieve your goals, as well as who can provide those things. You should also consider whether there are any organizations that would be interested in funding or supporting your project.
For example: if I want my company to create an app for kids with autism, I’ll need programmers and designers who know how to build apps; I’ll also need experts on autism because they’ll be able to advise me on what features will be most helpful for kids with autism (and their parents). Additionally, since this is an educational tool aimed at helping families deal with autism-related issues like social skills development or behavior management techniques at home–and not just entertainment–I could look into organizations that support educational programs for special needs children (like Autism Speaks) as potential sources of funding or even collaboration opportunities
Create an action plan to achieve your goals.
Step 1: Create an action plan to achieve your goals.
- Make a timeline of all the tasks that need to be completed in order for you to reach your goal.
- Break down each task into smaller steps, so they’re more manageable and easier to prioritize.
- Prioritize the tasks based on what needs immediate attention, as well as those that will help you achieve your long-term vision for the project (e.g., if I want my website up and running by June 1st so I can promote it at my local book festival, then “build website” may be more important than “create social media accounts”).
- Ensure that each step is realistic; don’t bite off more than you can chew! For example, if creating social media accounts means learning how Facebook ads work first–and then figuring out how best not just one but multiple platforms like Twitter or Instagram fit into this process–then this might take longer than expected unless there’s someone else who knows about these things already available who could coach them through it all instead (or maybe even do some initial research before getting started).
Create a list of potential funders and partners in advance.
To start, you’ll want to create a list of potential funders and partners in advance. The key is to research funding opportunities and find organizations that match your project, budget, timeline and mission.
Once you have a good idea of who might be interested in supporting your passion project (and how much they can give), it’s time to reach out!
By creating a comprehensive plan and applying these steps, you can turn your passion project into a funded reality through financial grants
To turn your passion project into a funded reality, you must:
- Create a list of all the resources and people you might need. This includes everything from funding sources to partners on the ground who can help with implementation.
- Create an action plan to achieve your goals–and then write it down! It’s important to have both short-term (1-3 years) and long-term goals in mind so that you can see how each step leads to the next one.
- Work with organizations like ours that specialize in helping others apply for financial grants or find other sources of support
By creating a comprehensive plan and applying these steps, you can turn your passion project into a funded reality through financial grants.