Grant Funding Strategy: The What, Why, and How
Updated: Jun 24
A solid grant funding strategy can make or break your project. It's important to consider what funding options are best to support your goals.
What is a Grant Funding Strategy?
A funding strategy is the first step towards finding your project the money it needs to succeed. It is a compilation of grants that have the highest probability of funding your program or project. It helps you recognize what types of funding are available, and it helps you determine what work needs to be done at the project level to prepare for grant applications. It is also a way for you to map out the future and plan for possible funding availability.
Why is This Valuable?
We all know writing grants can be challenging and time-consuming. But if you choose the right grants, you are set up for success from the start. A funding strategy allows you to identify the best possible grants and funding options for your situation. With our knowledge and expertise, we can often find over 250 grant options to choose from for any given project. We then fine-tune those down to the ones which best match your program.
How Do We Create a Grant Funding Strategy?
Typically, we narrow hundreds of grants down to around twenty of the best options based on the funder's priorities and funding history. We further refine this list by reaching out to funders directly to determine eligibility and competitiveness. Our aim is to recommend grants that have a 20% chance, or higher, of receiving funding. Then we can work together to decide which of the top five to ten grants best meet your goals. From there, we craft a funding strategy that will leverage a variety of grants and funding options to provide for either the whole project or for a whole year of operations. If we put the time in upfront to find the best grants for your situation, you can spend your energy and resources more wisely on grants that align with your long-term vision and have the highest potential to be funded.
Once we’ve created an amazing funding plan for your project, then it’s up to you! We can continue working with you to organize and write grant applications, and we can even help by overseeing all the applications you select from the funding strategy. On the other hand, if you prefer to complete some, or all, the grants in-house, that’s okay too! One Small Step is happy to assist with any level of your grant-seeking needs: from creating a stand-alone funding strategy, to managing your entire grant writing process, to anything in between.