sample business plan for grants

A Guide to Writing a Small Business Grant Proposal

Last Updated on 

January 19, 2023

While there may be more opportunities for non-profit organizations when it comes to grant funding, grants for small business owners are not rare.

In fact, small businesses received more than $334 billion in total award obligations through the SBA in 2021 , spread across more than 9 million transactions and 7 million new awards. Over $254 million was spent through grants alone. The amount spent on grant awards has risen in 2022 as well, increasing to more than $455 million.

Federal contracts and financial assistance are out there. And that is without mentioning small business research grants and other types of non-governmental contracts and awards.

Grants for small businesses can often be a better option than a loan, as grants do not require repayment of any kind. The caveat? Your goals need to align with the goals of the organization or awarding agency you’re seeking a grant from.

Many grants are dedicated to supporting non-profit work or specific research initiatives. However, small business grants are dedicated to helping owners and founders achieve specific business goals or projects that align with a funding agency’s mission or a particular initiative.

This includes research grants designed to support businesses working on research and development that has a high potential for commercialization. As a biotech founder, CEO, or employee, this is most likely the exact type of grant you’re looking for.

Like non-profit grants, small business grants are offered through both government and non-government agencies. Furthermore, unlike loans, grants do not need to be paid back.

In this article, we’ll review small business grants, grant proposals, and how to write small business grant proposals. We’ll also review some best practices for grant writing, the differences between a “good” and “bad” proposal, the various types of grants available, and additional resources to help you write a small business grant.

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What Is a Small Business Grant Proposal?

A small business grant proposal, like a typical grant proposal, is a clear and concise presentation of what you’re proposing to do before it actually happens. It usually takes the form of a written document that you either prepare online or physically.

You send your proposal to a particular funding agency that’s providing a grant opportunity you’re interested in.

The presentation should thoroughly explain the reasons for your proposal and why you’re applying for grant funding from a specific funder. Explain the who, what, when, where, how, and why of your proposed project or program.

When you clearly and concisely explain your proposal in an organized and well-thought manner, you will have a better chance at receiving approval from the grant reviewers.

What Are the Steps to Developing a Grant Proposal?

There are several steps you should take to develop an effective proposal. First, begin with an idea, followed by planning, strategy, and success.

What is the idea you’re hoping to make a reality? It’s ideally something you’re already working on and are seeking additional funding to help continue developing, but it can also be something you’re planning on starting and need funding to begin that journey.

Once you know what you’re trying to accomplish, you need to start planning. Flesh out the details of what your program, project, or initiative is all about that you’re seeking funding for.

After planning, you’ll need to start forming a strategy. This involves detailing your approach and methodology regarding bringing your program or project to life. How will you effectively put your plan into action?

With a strategy in place for success, you’ll be able to show the funder how you will accomplish what you’re setting out to do and how you will evaluate your accomplishments, giving the funder confidence in you by showing them you’ve got a game plan.

From here, you will want to take some additional steps before you start researching grant and developing your proposal:

• Make sure your idea can be funded, as some things are not eligible for grant funding
• Read the grant application guidelines carefully, they will help you determine if you actually qualify or not
• Make note of the eligibility requirements and what the funder is requesting; you might not be eligible or have everything they’re asking for

Lastly, ask yourself:

• Is my proposal doable?
• Does it have a focused goal?
• Can you provide everything a funder is asking for in the application? (If you can’t, you’re putting yourself in a position to become disqualified, wasting time and effort)
• Is it in alignment with your own goals and, most importantly, with the goals of the potential funding agency?
• Is there a beginning, middle, and end? (Granting agencies do not fund projects forever; in fact, most grants only last a year or two, depending on who’s providing the grant)
• Can you meet the deadline? (Grants have deadlines; if you start too late, you’ll have to rush and that can lead to mistakes and disqualification)

Grant Proposal Review & Common Elements

Grant proposal guidelines and instructions vary from funder to funder. This means the required information and formatting may be different from proposal to proposal. To better understand the common elements, it can help to review grant proposal guidelines and instructions to get a sense of what will be asked of you.

In the guidelines that you can typically find on the funding agency’s website, you’ll see exactly what you need to do in order to apply for a grant. While following these guidelines and instructions does not guarantee you’ll get funding, it does increase the likelihood of getting approved.

If the guidelines provide a list of do’s and don’ts, take note. Funding agencies will have various requests for you that include things they’d like to see in your application and things they wouldn’t like to see.

There may also be a checklist for completed requirements. If that’s the case, you can use the checklist to track your progress and make sure you don’t miss anything. Budget your time to make sure you’ve got enough time to get everything together that is required of you before the deadline. You don’t want to rush. It can lead to mistakes, which will automatically disqualify you in most cases.

Similarly, if you don’t complete and submit the proposal by the listed due date, your application will automatically be denied. We can’t stress this enough—give yourself enough time!

You’ll also see in the guidelines that a grant proposal must include information submitted in a specific order. Make sure to do this, and follow the instructions for each section exactly. Funders will most likely reject your application if your proposal is not in the correct order.

There are additional requirements for proposals that can include submitting the proposal to a specific address or department, rules about how you can submit the application, and reporting leadership or major staffing changes after you’ve submitted your proposal.

Do your diligence and read the guidelines and instructions carefully. Grant proposal reviews can be the best way to learn what to expect. That said, there are some elements, or sections of information, seen across many different types of grant proposals. These can include:

• A cover sheet or letter of intent that allows the agency to estimate how many independent reviewers will be needed; it also helps the agency avoid potential conflicts of interest in the review
• A short executive summary, or “abstract” in the non-profit world, summarizing your grant proposal
• A table of contents; it should help the reviewer find what they need quickly and easily should they want to flip to a specific section
• A needs statement and problem statement describing the purpose of your project, the need you’re addressing, or problem you’re solving, and why the project is important
• A project description or narrative explaining the project you want to fund in greater detail; you can separate different ideas into sections to better explain each aspect of your project and review the expected outcomes; this description can sometimes be included in the executive summary
• A list of your goals; ideally you will pick SMART (Specific, Measurable, Attainable, Realistic, Timeline) goals
• A description of the methods you will use, in addition to project management plans and timeline, illustrating how you will achieve your goals and objectives
• A staffing list showing how you will staff your project
• A detailed budget explaining what the money will be used for
• A cover letter providing an introduction of yourself or your business as the grant seeker, in addition to a description of your ethos, professionalism, and proposed project or business goal

You will most likely need to include information about yourself and your business as well, including:

• Your business’s mission and history
• Your business’s financial health and stability
• Any additional support documents, usually in the form of appendices; additional records, endorsements, tax status information, personnel bios, letters of support, etc.

Including this information is not only important, it’s necessary. Without it, your application will be disqualified.

Remember, this isn’t the exact order for every grant proposal. Proposals vary from funder to funder, and each may ask for a different order that the information above should be included. It’s vital that you follow the grant’s instructions exactly and include everything that’s asked for.

Before You Start, Research

Before you start writing your grant proposal, you’ll want to research the grant or grants you are applying for and the organization to whom you are submitting your proposal. This is part of the pre-award phase, covered in more detail on grants.gov .

Also consider who your audience is, what the grant’s expectations are, and how you will achieve your goals if you secure funding. To properly prepare for your application, it’s important that you:

• Follow the steps for developing a grant proposal listed above; this means clearly defining what you want to do, why you want to do it, how you’ll do it, when you’ll do it, and who you’ll do it for—remember to be SMART when defining your goals (Specific, Measurable, Achievable, Relevant, and Time-bound.)
• Identify an awarding agency or organization that funds projects or goals like the one you have in mind and figure out if their goals align with your own.
• Identify a grant funding opportunity before you begin the application process; it’s important that you find a grant that matches your proposal and goals and a funder whose mission aligns with yours.
• Review the agency’s grant proposal guidelines, eligibility requirements, and instructions document to determine if you are eligible and have everything on hand that they’ll require.
• Register to apply for grants through websites like grants.gov and sbir.gov ; depending on the agency, you will have to go through several steps to register and may be required to complete different types of registration to receive all the necessary identification.
• Review any grant proposal samples you might have or can find in order to get a better understanding of what a good or bad proposal looks like.

Research will help you identify a grant you can actually apply for, an agency that will want to work with you, and a better feel of what the funder’s interests actually are. This will vary from funder to funder, but doing your research will help greatly.

How to Write a Small Business Grant Proposal

The grant writing process can be quite arduous. But, there are a variety of ways to approach it. The best way you can handle the writing process, in our experience, is to begin with great research, followed by developing an effective proposal that carefully follows all the instructions and guidelines a funding agency provides, including everything they ask for. It’s all about giving the information that is required, not pushing the information that you want.

After taking all the necessary steps, such as registering your business in the proper places, identifying a grant funding opportunity, and determining your eligibility, you’ll begin preparing your written application and developing your proposal.

Below we break down the basic approach to writing a small business grant proposal based on our own experience as a small business.

Keep in mind that this is a guide for you to learn how to write a proposal. We outline a general approach of how to write a small business grant proposal. It will help you be well-prepared to begin the writing process, but does not necessarily follow exactly how a funder will want you to put together your proposal. Remember to follow instructions carefully!

Be meticulous in your following of the proposal’s instructions. This means including all the necessary documentation, completing the required forms, and staying on top of deadlines.

Write Your Cover Letter

You can start by writing your cover letter. However, it may help to leave this till the end of your application, as you might have a clearer idea of the main parts of your proposal and their value.

That said, if you do start with your cover letter, make sure to keep it short but impactful—you need to capture the attention of the agency’s reviewers.

Say what you need without using too much fluff, being as direct as possible without missing the important parts. And make sure to connect your project and goals with the funding agency’s own. If you can make a connection between their mission, funds, and your proposed project, you will have a better chance of getting approval.

Write Your Executive Summary

Next, write your executive summary. This serves as an overview of why your organization wants the grant, what your funding needs are, and how you plan to follow through with the project. Be as engaging as possible, using short and clear sentences that concisely illustrate the main aspects of your proposal.

Introduce Your Business

You can introduce your business next. Share as much relevant information as you can about your infrastructure, history, mission, experience, etc.

Here you include a biography of key staff, your business track record (success stories), company goals, and philosophy; essentially, highlight your expertise.

Client recommendations, letters of thanks, feedback from customers and the general public are must-have things to write in a grant proposal.

Also include all valid industry certifications (ISO or Quality Certifications), licenses, and business and indemnity insurance details.

You need to show that your company or organization has the capacity and the ability to meet all deliverables from both an execution perspective but also meet all legal, safety, and quality obligations.

Write Your Needs & Problem Statements

Now, write your needs and problem statement. It should illustrate the problem you will solve and how the grant funds will help you do it. It will be important to convey the scope of the problem or need of addressing and what sets you apart from others trying to solve the same problem or need. It can be helpful to include any research you’ve done on this matter as well.

Don’t rush this section of the proposal. It’s a critical element. Craft your argument patiently, and make sure to use any supporting data and research you have to back up your argument and plan.

It’s important to keep the language simple as well, as there is a big chance the reviewer doesn’t have the same technical expertise you do. Keep jargon to a minimum, or fully explain what each term means, in order to keep things clear.

Write Your Project Description

Next, write your project description. Clearly explain your goals for the project, how you plan to achieve those goals, and how the grant funding will help. Stick to SMART objectives, ones that can be easily tracked and measured. Doing so will help you demonstrate your eventual successes to the grantor, an important part of the grant process later on.

When you explain how you plan to achieve your goals, it can help to include specific information about your project’s timeline, budget, staffing, the resources and community you’ll leverage, and why you’re in a strong position to tackle a problem or need. It can also help to explain how you will track your project and goals, evaluating your overall success.

Ideally, your project description provides a clear picture of your goals, how you will achieve those goals, what you plan to do with the funds, and how you will manage and measure your project’s progress. If you tie your goals into the funding agency’s mission or goal, you will build an even stronger case for your business.

Write a Detailed Budget

After that section, you will need to write about your budget. It’s critical that you provide a detailed project budget that outlines how you will use the funding and what your operational costs will be. This will also serve to explain your expenses and justify the amount of money you’re seeking.

Provide any financial documents you may have to back up your budget here, and try to stay within the funding limits the funding agency is offering. It’s important to neither overquote nor underquote yourself, because while you might secure the grant by underquoting, you may not walk away with enough funding for your project. Overquote and you may see your application rejected.

When we say provide a detailed budget, we mean it. Include information about all of the costs, whether they’re direct or indirect. This can include everything from personnel, materials and supplies, and equipment to travel costs, advertising, utilities, insurance, and more.

Remember to check your numbers. You want to ensure they’re accurate. Otherwise, your application might not make it through the review process. Simple errors like an incorrect decimal point or forgotten number can significantly distort your budget. If you need to, leverage a team member who is excellent with numbers.

Perform a Final Review & Have Your Team Help

After you’ve finished writing, attached all the necessary documentation, and completed the required forms, you need to review your application! Make sure you have:

• Followed all the instructions
• Stuck within the guidelines
• Included all the necessary documentation
• Completed the required forms
• Formatted your proposal correctly
• Eliminated simple spelling or math errors

It can help to have others review your application as well. They can bring a different perspective and fresh eyes to the proposal and catch things you may have missed. In fact, it can help to have as many people you trust review the proposal. When you’re confident there are no errors, it’s time to submit your proposal.

Properly Submit & Track Your Application

Depending on the funding agency you’re submitting your application to, there will be different instructions for submitting. Figuring out what these submission processes look like can sound a little daunting, but each group will provide clear instructions somewhere on their website on how to properly submit your proposal.

It will be important that, once you submit the application, you make sure to track it to address any errors that are flagged and view the assembled application to ensure it is 100% accurate.

Once you’ve submitted, you can check online that your application has all the correct information and hasn’t been flagged for errors. After making sure your proposal wasn’t flagged, all you can do is wait for a response from the funding agency.

If the review process goes well, you may be asked to provide additional information. The way this request is handled can vary from department to department. For example, the NIH uses the Just-in-Time (JIT) process, located in its eRA Commons .

If you’re selected to receive funding, you’ll be sent a notice that you have been selected for the award! In the case of the NIH and the SBIR/STTR programs, you’ll receive a Notice of Award (NoA) , the official grant award document the department uses to notify an awardee the grant has been made. From there, you will be able to access more information on how to manage the award, and what the post-award process and requirements entail.

In addition, you will gain access to a wide number of agency resources and programs, helping you maximize the benefits of your grant funding.

While the approval rating for grants has increased through 2022, grant funding is highly competitive, and there is a big chance your proposal will be rejected. Don’t give up! It’s important that you keep trying. If the review does not go well, you will be able to reach out to the program official to discuss next steps. You can review feedback, address the issues, and resubmit your application .

12 Tips for Writing A Successful Business Grant Proposal

Below are steps to writing award-winning grants that you can use to improve your proposal, potentially increasing your chances at writing a small business grant application that will get approved.

Develop a Game Plan

Create a game plan for where you’re headed. Don’t dive into effort without knowing exactly what you’re doing. You’re going to want some mode of operation to complete the grant writing process, and a game plan can help you do that. In fact, you’re already using a game plan right now: learning how to write grant proposals in an effective way.

Don’t Rush & Pay Attention to the Agency’s Goals

First and foremost, don’t rush your writing. Grant applications can be long and grueling, and it can be easy to make mistakes if you try to rush through the grant proposal writing process.

Hopefully you start early enough so that you can take your time writing before the deadline gets closer. Making mistakes can make it take even longer to complete your proposal, and will lead to a rejection.

Taking your time will undoubtedly make it easier to craft your story and proposal, leading to a more developed proposal narrative and project description before you start writing grant applications. Having a strong story and a detailed proposal will help you stand apart from other grant applicants, clearly explaining the what, why, and how of your proposal.

Use Rich Media When You Can

Use pictures, charts, and graphics if permitted. Using rich media can help your proposal come to life and convey important points in different ways. While this may be harder to do with certain applications, look for instances where you can add visuals.

Research Prior Winners

If there are previous grant winners for the specific grant you’re applying for, review their business and the project. There may be a connection or similarity between your business and a prior winner that you can integrate into your proposal.

Seeing what kinds of businesses are awarded a certain grant can help you narrow down if your business is a good fit, what you could do to increase your chances, and ultimately help you save time by not applying to a grant you’re unlikely to land.

Search Through Local Grants First

It might be easier to secure a local grant than a federal grant offered nationwide. While federal grants can be more appealing—the award is typically larger—local grants are sometimes less competitive. Start your search by looking at locally offered grants, and expand your search as you rule out grants you might be able to apply for through your city, the state and regional levels.

Apply for Grants of All Sizes

In addition to searching for local grants first, you should also pay attention to funding opportunities of all sizes. Smaller grants can sometimes be easier to secure, and doing so can even make your business more appealing to agencies offering larger grant funds. Showing the support you’ve already received can make you more attractive to grantors.

Use a Team Approach

It’s often helpful and more effective to assemble a team to write your proposal. Ideally you can include people who have review proposals before or someone who has experience as an editor. Your choices do not have to be limited to your business, you can find people outside your organization to help with the process.

Approach The Writing Process Like a Reviewer

It can help to think about your grant proposal like a peer reviewer, rather than a business owner. The funding agencies you’ll send your applications to always have long-term organizational goals and objectives that you will want to appeal to. If you can set your proposal apart from others by showing how your use of the grant funds will directly align with the funding agency’s mission, you may stand a better chance at securing approval.

Provide Up-To-Date Information & Complete All Requests

Provide relevant up-to-date information. If you provide out-of-date information, you will come across as dated. This relates to completing all requests. Remember to give the funder 100% of what they ask for. This means following instructions exactly. You want to provide the information they need, not push your information on them.

Include an Evaluation

Include an evaluation that clarifies how you will evaluate your project or program’s performance. Determine a way to evaluate the project you’ve just received funds before. Will it be internal or external? Funding agencies typically look at evaluations very favorably.

Try, Try, Try Again

Even people who have a lot of experience writing grant proposals face rejection. In fact, most applicants face rejection more than approval. That said, the grant writing process can be highly productive. You get to dial in your objectives, methodology, and more, clearly defining what problem you’re addressing, how you will achieve your objectives, and more.

Don’t let rejection stop you. Try again and incorporate whatever feedback you can get a hold of into your next proposal.

Think About Hiring a Grant Writer

It’s no secret that grant writing can be difficult. If it’s proving too difficult or time-consuming, consider hiring a grant writer to help you complete and submit your proposal. Although these professionals can be expensive to hire, it may be worth the money in the long term.

The writer will likely know the type of language to use to make your application stand out in addition to the correct formatting. Their expertise in grant writing can make the process much quicker as well.

What Makes a Good Proposal?

A good small business grant proposal has a number of identifiable characteristics. None of which are very surprising:

• Easy to understand; it doesn’t need to be sophisticated, it needs to be understandable
• Proposes something that is doable within a certain timeframe
• Clear and concise
• Details what will be done, when it will be done, and how it will be done
• Tells a compelling and exciting story; what led up to your business’s decision to go in this direction, and what benefits people will experience
• Has excellent flow and continuity
• Visually appealing
• Engages the reader and provides social proof

If your proposal has all of these characteristics, it doesn’t guarantee you will get approved. But, it does increase the likelihood you will secure the funding you need. Having a well-written and visually appealing proposal, in addition to compelling research and data, is essential.

What Makes a Bad Proposal?

Sure enough, bad grant proposals have some common traits as well. These include:

• Lacks clarity; make sure the funder knows what you’re proposing to do
• Loaded with errors; if you can’t take care of proposal, how will you treat the money you’re provided
• Unrealistic expectations
• No clear outcomes
• Lack of alignment; doesn’t match up with funder’s goals and how the funder wants to see the world
• Bores the reader; you want the proposal to excite the reader by proposing a brighter future

Bad writing, no matter the context, is just that: bad writing! Even if you believe your proposed project has all the marks of a winner, you will still need to make sure your grant proposal is well-written and thought out to help stand out from all the other applicants and make it easier for peer reviewers to understand your proposal.

Types of Grant Proposals & When to Use Them

There are several types of grants small business owners can apply for. Your eligibility for each type will depend on a number of factors. When to use each type will vary based on your proposed project and goals as well.

Federal Grants

Federal grants are a type of government grant or economic aid the US government provides from the funds made available through the general federal revenue. The government gives grants to stimulate the economy and draws from the U.S. general federal revenue. Grants can be funds for a portion of a certain project or organizational costs, or include complete funding for a project or research.

There are more than 1,000 different grant programs available to businesses and individuals that qualify, distributed by 26 grant-specific agencies across 21 distinct categories.

State Grants

State grants are need-based, state-specific awards that usually provide a smaller amount of funds than federal grants. As they are state-specific, there is often less competition, making them more attainable for small businesses. While they are smaller than a federal grant, state grants can provide the boost an organization needs to carry a project or program further, and demonstrate the project’s attractiveness to other granting agencies.

Local Grants

Local grants are awards issued by a city, county, or township, or any other local government department or agency. that stimulate the economy directly around them. Applicants are only eligible for local grants if they meet specific requirements, the most obvious being whether or not the county or city deems that the business is part of that area. This is typically true if the organization provides services to the city and its residents.

Corporate Grants

A corporate grant comes directly from a major corporation. Like federal grants, corporate grants will have various requirements, provide different amounts of funding, and be suited for specific or broad types of business or research. Companies generally set aside capital at the beginning of the fiscal year and host competitions to distribute the funds to qualified businesses.

Other Types of Grants: Nonprofits

In addition to the grants dedicated to for-profit businesses, there are four types of non-profit grants. These are dedicated to and designed for non-profit organizations and businesses.

It may not apply to you and your business, but it’s worth mentioning. The four types include: competitive grants, continuation grants, pass-through grants, and formula grants.

Competitive Grants

Nonprofits, universities, colleges, K-12 schools, and government organizations can apply for competitive grants. Occasionally, a small business may be eligible to apply as well. Competitive grants, like any grant, are submitted for approval and reviewed by a team of reviewers who make a decision to fund the proposed project or not.

Competitive grants simply mean the grant application is competitive and involves an approval process that is performed by a committee or board of directors, who base their decision on different criteria. This also means the grants are discretionary, and do not need to be awarded.

Formula Grants

Formula grants are non-competitive, and are typically awarded to support larger programs. Like a competitive grant, formula grants award funds that are distributed to businesses and organizations based on meeting specific criteria. Unlike a competitive grant, these awards are distributed to applicants based on a statistical formula and overseen by a legislative body.

All applicants that meet the criteria will receive funding, but the amount is based on certain benchmarks. This means formula grants are always awarded. Awardees can include states, local governments, territories, and other types of government organizations.

From there, states may be able to allocate money to organizations and businesses for a specific activity. The amount the awardee distributes can be based on the numbers an organization serves or the number of residents in the community.

Pass-through Grants

Like federal, state, and local grants, pass-through grants come from the federal government. The funding is distributed to a state or local government, who then passes on the funding to different organizations, institutions, and businesses. Eligible applicants can apply to states or municipalities for federal funds to stimulate the local economy and make an impact in a specific community or area.

Continuation Grants

Non-profit organizations can use continuation grants to renew a previously awarded grant for an additional amount of time. Without a continuation grant, the funding for the project would expire. These grant opportunities are also an opportunity for the awardee and funder to foster a relationship. While continuation grants are discretionary and mostly available to existing awardees, new applicants may be considered.

How to Find Grants for Small Businesses

There are different databases available online that you can access to search for various small business grants. Some are free, while others require a subscription.

Below we review government grant databases on the federal, state, and local levels, as well as corporate grants you can apply for and the databases you can use to search for private grants.

Federal Small Business Grants & Databases

Government agencies are among the biggest distributors of business grants, supporting a range of enterprises from environmental conservation to child care services. Applying may seem intimidating, but federal grants are great opportunities for small-business owners looking to grow.

Grants.gov allows you to search for grants based on category, eligibility, agency, and funding instrument type. It lists all of the grant opportunities currently available across more than a thousand different programs as well as closed and archived opportunities. It aims to simplify the grant search and application process.

SAM.gov is an official US government website. It is a central database for everyone who makes, receives, and manages federal grants and awards. Government contractors can use SAM, short for Systems for Award Management, to search for grants and contracts and view contract opportunity reports . To use the site and do business with the US government, you need to register your business. Learn more about the website’s requirements and features using its  help center .

USDA Biotechnology Risk Assessment Research Grants

The National Institute of Food and Agriculture (NIFA) offers a wide range of grant programs for agriculture- and agriculture science-based research and business initiatives. One such program,  the Biotechnology Risk Assessment Research Grants (BRAG) program , provides funding to support research that will help regulatory agencies make “science-based decisions about the effects of introducing into the environment genetically engineered organisms (GE).” This includes a wide range of organisms, from plants, microorganisms, fish, and birds to mammals and other animals.

Businesses can view BRAG’s Request for Applications (RFA) to learn more about the grants program, funding opportunity, award information, eligibility information, and more. Businesses can also apply for a grant directly on the agency’s website.

USDA Rural Business Development Grants

The U.S. Department of Agriculture (USDA) oversees and manages the Rural Business Development Grant program . It provides funding to strengthen and grow small businesses throughout rural communities.

In order to qualify for funding, businesses cannot have more than 50 new employees. Additionally, the business must have less than $1 million in gross revenue. It needs to also be located in an eligible rural area . Grant proposals are accepted only once per year through the local or state USDA Rural Development offices.

SBIR/STTR Programs

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs enable US-based, for-profit small businesses to become involved in federal research & development. The STTR also includes a partnership between the small business and nonprofit research institutions to formally collaborate in Phase I and Phase II.

These programs include a searchable solicitations database you can explore to find potential funding opportunities. These contract opportunities are available through different funding agencies, including the NIH, NSF, and more:

The National Institutes of Health (NIH) has a funding database that allows researchers to search for different types of grants, contracts, and even programs that help repay loans. There is also research training and career development available. You can subscribe to their weekly email newsletter that summarizes the funding opportunities posted each week and stay up to date with what solicitations are currently open.

The National Science Foundation (NSF) has an opportunities database that allows you to filter their opportunities according to different factors like award type, directorate, division, and education level. The database lists current, available opportunities with their respective due dates.

However, you can find the agency’s archived funding opportunities on its website as well. Reviewing the archived listings can give you a better idea of what the NSF has funded in the past, what they may fund in the future, and whether or not any of it applies to your R&D.

The US Department of Energy (DOE) lists funding opportunity announcements (FOAs) on their website according to offices within the department. You can search through its database based on program, fiscal year, and post date or close date. Additionally, the DOE lists Open Lab Announcements and Closed Lab Announcements as well.  

Through the Office of Small Business Programs (OSBP), the US Department of Defense (DOD) offers a number of grants, contracts, and funding opportunities for organizations and small businesses performing research and development.

OSBP manages a number of DOD programs, from the Mentor Protege Program and Indian Incentive Program to DOD small business program funding, market research, procurement goals, and contracting processes and activities. You can explore the various programs managed by OSBP and search for contract or grant opportunities on its website. These opportunities are mostly applicable to small businesses interested in commercializing their R&D.

State & Regional Small Business Grants & Databases

Economic development administration.

The Economic Development Administration (EDA) is an agency overseen by the Department of Commerce (DOC). It provides grants, resources and technical assistance to communities based on local business needs and conditions in order to stimulate and support economic growth and development while promoting entrepreneurship.

You can search the site for current and previous funding opportunities spread across the agency’s various programs. Additionally, you can search the economic development directory for regional offices and local resources.

State Business Incentives Database

The State Business Incentives Database is a database created by the Council for Community and Economic Research (C2ER) . With close to 2,000 programs from around the US, the database gives business owners, economic developers, business development professionals, and economic researchers a place to search for and compare various incentive programs.

Its site includes a map feature you can use to search for grants based on location, and provides information on tax credits and exemptions. To use the site, you must have an account. However, accounts are only available to members of C2ER.

California Grants Portal

The California Grants Portal was developed by the California State Library. It provides a central location for state grant opportunities, allowing state grant-making agencies to add and update their award information, and for grant seekers to search the database for opportunities. This makes it possible for all state grant opportunities to be searchable online.

Each listed grant includes a summary of what is needed to apply and how, along with links that businesses and organizations can follow to learn more. To the same effect, the California Grants Portal site includes an FAQ section .

State Trade Expansion Program

The State Trade Expansion Program (STEP) , provides state and territory governments with funding to distribute to small businesses with export development.

Supported by the SBA, STEP helps small businesses cover the costs to start or expand into international markets. Funding and eligibility requirements vary based on your state, but the money can be used to participate in a variety of business activities.

California Office of the Small Business Advocate

The California Office of the Small Business Advocate (CalOSBA) supports economic growth and development in California, ensuring California-based small businesses and startups have the support and resources needed to search for programs and understand regulations.

CalOSBA’s many funding programs include the California Microbusiness COVID-19 Relief Grant Program, California Small Business COVID-19 Relief Grant Program, California Dream Fund, and more.

Minority Business Development Agency Centers

The Minority Business Development Agency Centers (MBDA) is a nationally ran network of business development centers that support the growth and promotion of minority-owned small businesses. This includes helping businesses secure funding and contracts and compete in emerging markets.

Search for your local MBDA center and programs to apply for various types of funding, including state and local business grants and loans. The agency also typically holds a small-business grant competition annually. You can find contest updates on MBDA’s website.

Corporate/Foundation Small Business Grants & Databases

Many corporations and larger companies offer nonprofit and small-business grants. While some corporations work solely with nonprofits, others also provide funding to for-profit small businesses.

GrantWatch is a grant listing directory that currently features more than 28,000 grants, funding opportunities, awards, and archived grants—some of the archived grants will become available again as well. These grants come from a wide variety of sources: corporations, foundations, and government agencies on the federal, state, and local levels.

While GrantWatch can be an excellent database to search for grants , it does require that you become a member. With the free account, you gain access to a number of features and can search for grants using different dimensions, such as location and grant type.

However, if you want to get highly granular with your searches, access complete grant information, and access direct links to Requests for Proposals (RFPs) in order to apply, you’ll need to sign up for a paid account. The website also provides a wide range of resources, news, and more.

Sloan Foundation

The Sloan Foundation offers grants that support original research and education focused on science, technology, engineering, and more. The foundation’s funds are provided through the accumulated wealth of Alfred P. Sloan, and its mission is to use its funds and grantmaking abilities in the service of the public good.

The foundation selects projects to fund based on proposals submitted by both individuals and teams with original and innovative ideas. It is most interested in projects that have an expected return to society, show strong methodological characteristics, and do not yet have wide access to funding through government agencies, the private sector, or other foundations.

You can learn about the foundation’s grants , its grantmaking strategy, what it doesn’t fund, its grant application process, and more on its website. It also provides a searchable grants database you can use to see what’s currently available and archived.

GrantForward

GrantForward is a funding opportunity database and recommendation service created by academics for researchers. You can search for grants using a specific keyword, however, in order to get complete use of the site and additional searches, you’ll need to create an account. Free trials are available.

GrantForward uses a search algorithm alongside a team of specialists to continuously add new and up-to-date funding opportunities to its database, making sure your searches are as relevant and current as possible. It also provides search filters that make it easy to quickly find a funding opportunity that fits your needs.

The database includes a wide range of grant types you can search through, from fellowships to post-doctoral to equipment, facility, and organization grants. In addition to searching for grants, you can find pre-solicitations and awarded projects as well. However, you’ll need an account to complete these searches.

Instrumentl

Nonprofits and professional grant writing consultants rely on Instrumentl to match with the right funders, identify trends, and track and manage grants.

While Instrumentl works most closely with nonprofits, helping match grant writers with private and corporate grants their organizations can use to achieve specific goals, it also provides an extensive database for other opportunities. This includes federal and state grant funding opportunities.

You can search the website’s grant database by focus area, location, or foundation . In addition to its databases, you can leverage Instrumentl’s educational resources to better understand how to use Instrumentl, improve your grant writing, and more.

Visa Everywhere Initiative

The Visa Everywhere Initiative is a grant competition that offers funding to tech-forward startups across five different regions around the globe. Applicants must show how they’ve developed a product or service that creatively involves Visa’s products.

Visa will select the top five finalists in each region — and these businesses will move forward to a global finals event. The overall winner of the competition is awarded a $100,000 small-business grant. Additional grants are awarded to second- and third-place finalists, audience favorites, as well as regional and local winners.

FedEx Small Business Grant

FedEx’s annual grant competition awards more than $250,000 to 10 small businesses. This includes $4,000 in FedEx print and business services and a $50,000 grant to its three grand prize winners. While the 2022 contest has closed, it opens up again each year. Dates are posted to the company’s website once they are finalized.

The FedEx small business grant, as one would expect, is available to US-based, for-profit small businesses that have been in operation for a minimum of six months. Businesses can have no more than 99 employees. You can visit the site’s FAQs to learn more about eligibility requirements and more.

fundsforNGOs

fundsforNGO provides a wide range of resources and services for countless industries . It works to improve access to resources and enable a more sustainable environment. The organization accomplishes this by researching, developing, and curating content that supports the growth and sustainability of nongovernmental organizations (NGOs) and individuals working specifically in poverty alleviation and sustainable development.

Its many features include business intelligence, training, publications, and networking. However, most importantly for you, it also provides searchable databases of grants, donors, and proposals aimed to help NGOs find the information they need and track funding opportunities. In addition to its databases, fundsforNGOs also assists with grant writing, helping you plan and create your proposals.

Additional Resources

There are additional resources you can rely on to help with your search for grant funding. This includes various organizations that provide free help for your business. Many sources you can find through sba.gov and sbir.gov, however, you can also review the agencies below.

Small Business Development Centers

Small Business Development Centers (SBDCs) offer support to small businesses and entrepreneurs. There are local, regional, state, and national offices located across the country, so it can help to find one closest to you.

Some SBDCs are associated with local universities or a state’s economic development agency, as well, and can help connect you with small business grants, federal grants, and business financing opportunities. SBDCs generally offer training, counseling, and technical assistance in addition to support with grant funding.

For example, an SBDC can usually help you create a compelling business plan and pitch for your business, and help you understand how you’ll want to use the grant money you’re seeking out.

This also includes navigating the grant process. SBDC advisors have a lot of visibility locally and can help connect you with small business grants.

SCORE is a nonprofit organization supported by the SBA. It provides free entrepreneurship training, tools, and mentorship to US-based small business owners. Like SBDCs, SCORE is a free online resource entrepreneurs can access when they need help.

You can use SCORE to connect with a wide range of experts based on zip code for free. You can also request a match, search for a business mentor, or find your local chapter to get the advice or expertise you’re looking for. The SCORE mentor you’re matched with will hopefully be able to identify local grant opportunities for you and review your pitch or proposal to ensure it’s compelling and well-written.

In addition to mentorship, you can access a variety of workshops online and in-person. Browse through SCORE’s library of webinars , on-demand courses , and local workshops to find a class that can help you improve. Live classes are also available if you can’t attend workshops in person.

Grant Resources Center

The Grants Resource Center (GRC) is part of the American Association of State Colleges and Universities. This subscription service helps college/university offices secure more funding from federal and private groups.

It provides publications on a fixed schedule, management resources , funding resources , and a database where you can search for grants . Searching for a grant requires an account with GRC.

Procurement Technical Assistance Centers

P rocurement Technical Assistance Centers (PTACs) provide assistance to businesses looking to work with the US government, Department of Defense, and other federal, state, and local government agencies. Most of the assistance provided by your local PTAC is free.

If you need to determine if your business is ready for government contracting, eligible for small business certifications, register in the correct place to begin the process, or assistance with researching past contract opportunities, then your local PTAC can help. You can search the SBA PTAC database to find a center near you.

You can also work with a procurement center representative (PCR) if you need help securing government contracts. Because PCRs are able to see government procurement strategies before they’re announced, they are in a good position to help you in touch with a small business opportunity.

Additionally, PCRs also help carry out SBA policies and programs, assist small businesses with payment issues, conduct market research, and provide counseling with the contracting process.

Small Business Grant Proposal Templates

There are many free online grant proposal templates to choose from. A template can help you put together a visually appealing proposal or give you an idea of how to format your own proposal.

We suggest you use a template as a study guide or reference point rather than your actual proposal only because the grant you are applying for may require different formatting or information. That said, here are some resources that provide small business grant proposal templates:

• PandaDoc grant proposal template
• Jot Form grant proposal PDF templates
• Wise free grant proposal template
• Sample.net small business grant proposals in PDF
• Technical Writer HQ grant writing templates
• SampleTemplates grant proposal samples & small business grant proposal templates
• Template.net grant proposal word templates

Conclusion: Applying For a Small Business Grant With Confidence

As a small business owner, things can feel pretty daunting at times. Being able to cover costs, push ahead on new programs or initiatives, and keep everything going requires significant cash flow. Luckily, there are a number of grant funding sources available to small businesses in the US.

Knowing what the grant writing process looks like and how to write a grant proposal before you get started can be a great help, reducing the amount of time, energy, and effort required to put together a winning grant proposal. This guide can serve as the first step toward building the knowledge and confidence needed when applying for a grant, and will make it easier to secure the funding you need to bring your idea to light.

Excedr has worked with a number of clients who secured grant funding in order to fund research and development, specific business initiatives, and provide services to the communities around them.

In some cases, that grant funding was available to use to lease lab equipment. By leasing the lab equipment they needed, our clients were able to extend their funding and save more for their research and development efforts.

In other cases, the grant funding was able to cover a client’s R&D or business costs, freeing up more room in their budget for equipment procurement and other initiatives.

Rather than put all that extra money into purchasing a few pieces of equipment, our clients leased instead, saving money on upfront costs and spreading out payments via manageable and consistent payments. If you’re interested in learning more about our leasing program , our team will be happy to provide you with more details. Contact us and let us know how we can help with your leasing needs.

Good luck on your grant writing journey. Securing grant funding can be an amazing moment and opportunity to accomplish great things!

How to Start a Grant Writing Business

Owners of grant writing businesses are adept at finding foundations, government entities and other funding sources and applying for funding on behalf of their non-profit clients. You will, in short, serve as a matchmaker, putting together funding sources and needs. You’ll continually seek grant opportunities and write succinctly, persuasively and in an organized manner in filling out requests for proposals (RFP) to win funding.

You may also be interested in additional side hustle ideas .

Learn how to start your own Grant Writing Business and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Start a grant writing business by following these 10 steps:

• Plan your Grant Writing Business
• Form your Grant Writing Business into a Legal Entity
• Register your Grant Writing Business for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Grant Writing Business
• Get the Necessary Permits & Licenses for your Grant Writing Business
• Get Grant Writing Business Insurance
• Define your Grant Writing Business Brand
• Create your Grant Writing Business Website
• Set up your Business Phone System

We have put together this simple guide to starting your grant writing business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Grant Writing Business Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your grant writing business?

Business name generator, what are the costs involved in opening a grant writing business.

Your startup costs should be minimal since you can work from your home and without employees at first. Let’s look at some possible startup costs.

• Home office equipment—Your phone, computer and printer can be obtained for $1,000 if you don’t already own them.
• Rent—Your first office is likely to be your home or apartment. If that’s too distractive, seek office space for one person in a modest space. Meetings can be held at client locations, so you don’t have to impress with your office. Depending on where you’re located, rent could be as little as a few hundred dollars a month and shouldn’t exceed $1,000.
• Employee costs—You’ll likely be your sole employee, at least at first. What’s the least you can get by on? You might feel more financially secure if you have a working spouse, have saved a year’s salary beforehand or go into your business with at least one client signed up.
• Professional services—See a lawyer and an accountant before startup to draw up contracts and advise on expenses and taxation issues. This might be a $500 investment or more depending on the complexity of your business.
• Promotional and marketing materials—This includes everything from your website and blog to social media presence, business cards, logo development and collateral sales materials. Much of this can be done at low cost. For instance, your website and blog can be developed cost-free if you have basic digital skills, and you could find a competent graphic designer at your local community college. The investment of $500 to $1,000 should be enough in this area to launch your business.
• Accreditation, memberships and licensing—Networking within your industry can cost as much as $1,000. While not mandatory, this can be a valuable investment in credibility and a source of critical relationships. Ask your lawyer or accountant if you’ll face any licensing or permit fees in your locality.

What are the ongoing expenses for a grant writing business?

Your ongoing expenses can be quite modest until you’re primed for growth. At that time, you’ll need an office (or one that’s larger than your current site) and you’ll undertake employee expenses.

At first, your most pressing need will be to meet your own income and healthcare demands. Other ongoing expenses will include event attendance, lunches, travel, entertainment and other costs associated with meeting clients and funders.

One source estimated that operational expenses for grant writers might take up 25-50 percent of revenue.

Who is the target market?

You’ll want to meet decision makers at non-profit, community and civic organizations, and occasionally even for-profit entities and others seeking to raise funds through grants. While some grant writers seek clients of all kinds, others focus on a preferred type. That might be organizations working to treat specific medical conditions or to advance a political or civic objective, or perhaps non-profits based within your geographic region.

How does a grant writing business make money?

You’ll generate revenue by charging clients a per-hour or flat rate for your various services. As you win grants and your reputation grows, more businesses will come in and you can increase your hourly or project rates.

Grant writers with little experience and few clients might charge as little as $25 an hour, while a rate of between $50 and $100 hourly is earned by those with more experience. Some grant writing businesses charge a flat fee for individual services. For instance, this business charges $3,500 for a grant proposal that can serve as a foundational document for responding to RFPs. The company charges additional fees for RFPs and basic funding-source research.

How much profit can a grant writing business make?

The compensation data website Payscale estimated that in-house grant writers earn an average annual income of about $45,000. Use this as only a starting point, because those who work on their own have more control over their income. It will only be limited by your success in generating clients, nurturing funding source relationships, winning grants and marketing your successes.

How can you make your business more profitable?

Some non-profit organizations employ in-house writers but still need help with other aspects of grant seeking. Consider breaking down your various services and offering non-profits who might not be interested in your full menu of services a cafeteria option. This might include such related services as funding research, training and writing consultancy.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your grant writing business is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

In most states, grant writing businesses must obtain business permits. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Services Contract

Grant writing businesses should have a service contract between themselves and their clients to make the exchange of grant writing services for payment transparent.  Here is an example service agreement .

Recommended: Rocket Lawyer makes it easy to create a professional service agreement for your grant writing business when you sign up for their premium membership. For $39.95 per month, members receive access to hundreds of legal agreements and on-call attorneys to get complimentary legal advice.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Grant Writing Business needs and how much it will cost you by reading our guide Business Insurance for Grant Writing Business.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a grant writing business

Use social media and self-promotional marketing materials to expound on your abilities and to highlight your accomplishments. You’ll also want to spend equal time engaging prospective clients and the funding sources that will serve their needs. Get involved volunteering within your target industry, attend fundraisers, sit on boards and otherwise interact with your audience and get to know decision makers.

How to keep customers coming back

It’s your grantmaking “wins” that will attract new clients and maintain the interest of your existing roster. However, this is only partially within your control. Every grant proposal you write must be comprehensive, logical and persuasive—and you still might not land the grant. That’s because of the intense competition for funding.

This fact underscores the need for self-promotion when strategically beneficial. Use social media to highlight your victories. And be sure to ask your clients to recommend you to others potential clients. It’s a small, insular community, putting you at an advantage if you can offer prospective new clients the commendation of people they know and respect.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

Your talents will involve business writing and a clear understanding of the non-profit and funding worlds. In your writing, you must be able to take direction well because each RFP to which you respond requires clear and direct answers and attention to such details as word or page counts, writing style and, on occasion, even font and type size regulations.

It also helps if you currently volunteer, or have done so in the past, with non-profit organizations, or can network comfortably within that environment.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a grant writing business?

You’ll maintain regular phone, digital and face-to-face contact with nonprofits and grant makers at foundations and other funding sources. You’ll spend significant time researching new funding opportunities and nurturing relationships in the funding community.

You should also have a regular social media presence to salute your nonprofits and foundations with which you’ve established contact and to promote your own achievements in securing funding.

During busy times, much of your day will be spent researching grant makers and filling out RFPs. You should also meet other grant writers at networking events with whom you could strike up successful partnerships or seek contract help during busy times.

What are some skills and experiences that will help you build a successful grant writing business?

Your success will be built upon the proficiency of your writing within this area of expertise and your ability to navigate the nonprofit world. You must be socially adept and able to work the politics of your two communities—nonprofits and funders.

What is the growth potential for a grant writing business?

The more clients you add to your roster, the more income you might generate. Success breeds success in this industry. While every grant request is a longshot since so many nonprofits are competing for the same funding, grant writers who are recognized as being particularly successful are best positioned to win new business. That’s why it’s incumbent upon you to publicize your wins through social media and self-marketing opportunities.

As your business grows, you can consider hiring additional writers or others who are networked into the non-profit or funding communities to help you generate additional clients or grantmaking sources.

Not sure if a grant writing business is right for you? Try our free Business Idea Generator and find your perfect idea.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting a grant writing business?

Don’t go into this field unless your business writing skills are impeccable. That said, you should also have entrée in the nonprofit world. You might gain this knowledge with a background in a non-profit organization, working as an in-house writer or in some other area of expertise as either a staffer or volunteer.

Also consider learning more about the specifics of grant writing through various web articles and online training programs or through industry groups and trade organizations. These include National Grants Management Association (NMGA) , Grant Professionals Association (GPA) , and Grant Professionals Certificate Institute (GPCI) .

How and when to build a team

One reason you need to network regularly is to meet other talented writers and insiders in the world of nonprofits and funding sources. You can expand gradually, as opportunity presents itself. If, at first, you have an excess of work, consider contracting with freelance grant writers to undertake parts of projects.

Only when you see that your business growth is ongoing, rather than a cyclical bump, should you consider part-time or full-time hires. You can also explore expansion through partnerships with other successful grant writers as a way to gain access to new client types or funding sources.

Useful Links

Industry opportunities.

• National Grants Management Association
• American Grant Writers Association
• Grant Professionals Association
• Grant Professional Certification Institute

Real World Examples

• New York-based grant writing business

Further Reading

• Start-Up Guide for Grant Business
• Learn about more Online Business Ideas

Have a Question? Leave a Comment!

The Ultimate Grant Writing Guide (and How to Find and Apply for Grants)

Securing grants requires strategic planning. Identifying relevant opportunities, building collaborations, and crafting a comprehensive grant proposal are crucial steps. Read our ultimate guide on grant writing, finding grants, and applying for grants to get the funding for your research.

Updated on February 22, 2024

Embarking on a journey of groundbreaking research and innovation always requires more than just passion and dedication, it demands financial support. In the academic and research domains, securing grants is a pivotal factor for transforming these ideas into tangible outcomes. 

Grant awards not only offer the backing needed for ambitious projects but also stand as a testament to the importance and potential impact of your work. The process of identifying, pursuing, and securing grants, however, is riddled with nuances that necessitate careful exploration. 

Whether you're a seasoned researcher or a budding academic, navigating this complex world of grants can be challenging, but we’re here to help. In this comprehensive guide, we'll walk you through the essential steps of applying for grants, providing expert tips and insights along the way.

Finding grant opportunities 

Prior to diving into the application phase, the process of finding grants involves researching and identifying those that are relevant and realistic to your project. While the initial step may seem as simple as entering a few keywords into a search engine, the full search phase takes a more thorough investigation.

By focusing efforts solely on the grants that align with your goals, this pre-application preparation streamlines the process while also increasing the likelihood of meeting all the requirements. In fact, having a well thought out plan and a clear understanding of the grants you seek both simplifies the entire activity and sets you and your team up for success.

Apply these steps when searching for appropriate grant opportunities:

1. Determine your need

Before embarking on the grant-seeking journey, clearly articulate why you need the funds and how they will be utilized. Understanding your financial requirements is crucial for effective grant research.

2. Know when you need the money

Grants operate on specific timelines with set award dates. Align your grant-seeking efforts with these timelines to enhance your chances of success.

3. Search strategically

Build a checklist of your most important, non-negotiable search criteria for quickly weeding out grant options that absolutely do not fit your project. Then, utilize the following resources to identify potential grants:

• Online directories
• Small Business Administration (SBA)
• Foundations

4. Develop a tracking tool

After familiarizing yourself with the criteria of each grant, including paperwork, deadlines, and award amounts, make a spreadsheet or use a project management tool to stay organized. Share this with your team to ensure that everyone can contribute to the grant cycle.

Here are a few popular grant management tools to try: 

• Jotform : spreadsheet template
• Airtable : table template
• Instrumentl : software
• Submit : software

Tips for Finding Research Grants

Consider large funding sources : Explore major agencies like NSF and NIH.

Reach out to experts : Consult experienced researchers and your institution's grant office.

Stay informed : Regularly check news in your field for novel funding sources.

Know agency requirements : Research and align your proposal with their requisites.

Ask questions : Use the available resources to get insights into the process.

Demonstrate expertise : Showcase your team's knowledge and background.

Neglect lesser-known sources : Cast a wide net to diversify opportunities.

Name drop reviewers : Prevent potential conflicts of interest.

Miss your chance : Find field-specific grant options.

Forget refinement : Improve proposal language, grammar, and clarity.

Ignore grant support services : Enhance the quality of your proposal.

Overlook co-investigators : Enhance your application by adding experience.

Grant collaboration 

Now that you’ve taken the initial step of identifying potential grant opportunities, it’s time to find collaborators. The application process is lengthy and arduous. It requires a diverse set of skills. This phase is crucial for success.

With their valuable expertise and unique perspectives, these collaborators play instrumental roles in navigating the complexities of grant writing. While exploring the judiciousness that goes into building these partnerships, we will underscore why collaboration is both advantageous and indispensable to the pursuit of securing grants.

Why is collaboration important to the grant process?

Some grant funding agencies outline collaboration as an outright requirement for acceptable applications. However, the condition is more implied with others. Funders may simply favor or seek out applications that represent multidisciplinary and multinational projects.

To get an idea of the types of collaboration major funders prefer, try searching “collaborative research grants” to uncover countless possibilities, such as:

• National Endowment for the Humanities
• American Brain Tumor Association

For exploring grants specifically for international collaboration, check out this blog:

• 30+ Research Funding Agencies That Support International Collaboration

Either way, proposing an interdisciplinary research project substantially increases your funding opportunities. Teaming up with multiple collaborators who offer diverse backgrounds and skill sets enhances the robustness of your research project and increases credibility.

This is especially true for early career researchers, who can leverage collaboration with industry, international, or community partners to boost their research profile. The key lies in recognizing the multifaceted advantages of collaboration in the context of obtaining funding and maximizing the impact of your research efforts.

How can I find collaborators?

Before embarking on the search for a collaborative partner, it's essential to crystallize your objectives for the grant proposal and identify the type of support needed. Ask yourself these questions: 

1)Which facet of the grant process do I need assistance with:

2) Is my knowledge lacking in a specific: 

• Population?

3) Do I have access to the necessary:

Use these questions to compile a detailed list of your needs and prioritize them based on magnitude and ramification. These preliminary step ensure that search for an ideal collaborator is focused and effective.

Once you identify targeted criteria for the most appropriate partners, it’s time to make your approach. While a practical starting point involves reaching out to peers, mentors, and other colleagues with shared interests and research goals, we encourage you to go outside your comfort zone.

Beyond the first line of potential collaborators exists a world of opportunities to expand your network. Uncover partnership possibilities by engaging with speakers and attendees at events, workshops, webinars, and conferences related to grant writing or your field.

Also, consider joining online communities that facilitate connections among grant writers and researchers. These communities offer a space to exchange ideas and information. Sites like Collaboratory , NIH RePorter , and upwork provide channels for canvassing and engaging with feasible collaborators who are good fits for your project. 

Like any other partnership, carefully weigh your vetted options before committing to a collaboration. Talk with individuals about their qualifications and experience, availability and work style, and terms for grant writing collaborations.

Transparency on both sides of this partnership is imperative to forging a positive work environment where goals, values, and expectations align for a strong grant proposal.

Putting together a winning grant proposal

It’s time to assemble the bulk of your grant application packet – the proposal itself. Each funder is unique in outlining the details for specific grants, but here are several elements fundamental to every proposal:

• Executive Summary
• Needs assessment
• Project description
• Evaluation plan
• Team introduction
• Sustainability plan 

This list of multi-faceted components may seem daunting, but careful research and planning will make it manageable. 

Start by reading about the grant funder to learn:

• What their mission and goals are,
• Which types of projects they have funded in the past, and
• How they evaluate and score applications.

Next, view sample applications to get a feel for the length, flow, and tone the evaluators are looking for. Many funders offer samples to peruse, like these from the NIH , while others are curated by online platforms , such as Grantstation.

Also, closely evaluate the grant application’s requirements. they vary between funding organizations and opportunities, and also from one grant cycle to the next. Take notes and make a checklist of these requirements to add to an Excel spreadsheet, Google smartsheet, or management system for organizing and tracking your grant process.

Finally, understand how you will submit the final grant application. Many funders use online portals with character or word limits for each section. Be aware of these limits beforehand. Simplify the editing process by first writing each section in a Word document to be copy and pasted into the corresponding submission fields.

If there is no online application platform, the funder will usually offer a comprehensive Request for Proposal (RFP) to guide the structure of your grant proposal. The RFP: 

• Specifies page constraints
• Delineates specific sections
• Outlines additional attachments
• Provides other pertinent details

Components of a grant proposal

Cover letter.

Though not always explicitly requested, including a cover letter is a strategic maneuver that could be the factor determining whether or not grant funders engage with your proposal. It’s an opportunity to give your best first impression by grabbing the reviewer’s attention and compelling them to read further. 

Cover letters are not the place for excessive emotion or detail, keep it brief and direct, stating your financial needs and purpose confidently from the outset. Also, try to clearly demonstrate the connection between your project and the funder’s mission to create additional value beyond the formal proposal.

Executive summary

Like an abstract for your research manuscript, the executive summary is a brief synopsis that encapsulates the overarching topics and key points of your grant proposal. It must set the tone for the main body of the proposal while providing enough information to stand alone if necessary.

Refer to How to Write an Executive Summary for a Grant Proposal for detailed guidance like:

• Give a clear and concise account of your identity, funding needs, and project roadmap.
• Write in an instructive manner aiming for an objective and persuasive tone
• Be convincing and pragmatic about your research team's ability.
• Follow the logical flow of main points in your proposal.
• Use subheadings and bulleted lists for clarity.
• Write the executive summary at the end of the proposal process.
• Reference detailed information explained in the proposal body.
• Address the funder directly.
• Provide excessive details about your project's accomplishments or management plans.
• Write in the first person.
• Disclose confidential information that could be accessed by competitors.
• Focus excessively on problems rather than proposed solutions.
• Deviate from the logical flow of the main proposal.
• Forget to align with evaluation criteria if specified

Project narrative

After the executive summary is the project narrative . This is the main body of your grant proposal and encompasses several distinct elements that work together to tell the story of your project and justify the need for funding. 

Include these primary components:

Introduction of the project team

Briefly outline the names, positions, and credentials of the project’s directors, key personnel, contributors, and advisors in a format that clearly defines their roles and responsibilities. Showing your team’s capacity and ability to meet all deliverables builds confidence and trust with the reviewers.

Needs assessment or problem statement

A compelling needs assessment (or problem statement) clearly articulates a problem that must be urgently addressed. It also offers a well-defined project idea as a possible solution. This statement emphasizes the pressing situation and highlights existing gaps and their consequences to illustrate how your project will make a difference.

To begin, ask yourself these questions:

• What urgent need are we focusing on with this project?
• Which unique solution does our project offer to this urgent need? 
• How will this project positively impact the world once completed?

Here are some helpful examples and templates.

Goals and objectives

Goals are broad statements that are fairly abstract and intangible. Objectives are more narrow statements that are concrete and measurable. For example :

• Goal : “To explore the impact of sleep deprivation on cognitive performance in college students.”
• Objective : “To compare cognitive test scores of students with less than six hours of sleep and those with 8 or more hours of sleep.”

Focus on outcomes, not processes, when crafting goals and objectives. Use the SMART acronym to align them with the proposal's mission while emphasizing their impact on the target audience.

Methods and strategies

It is vitally important to explain how you intend to use the grant funds to fulfill the project’s objectives. Detail the resources and activities that will be employed. Methods and strategies are the bridge between idea and action. They must prove to reviewers the plausibility of your project and the significance of their possible funding.

Here are some useful guidelines for writing your methods section that are outlined in " Winning Grants: Step by Step ."

• Firmly tie your methods to the proposed project's objectives and needs assessment.
• Clearly link them to the resources you are requesting in the proposal budget.
• Thoroughly explain why you chose these methods by including research, expert opinion, and your experience.
• Precisely list the facilities and capital equipment that you will use in the project.
• Carefully structure activities so that the program moves toward the desired results in a time-bound manner.

A comprehensive evaluation plan underscores the effectiveness and accountability of a project for both the funders and your team. An evaluation is used for tracking progress and success. The evaluation process shows how to determine the success of your project and measure the impact of the grant award by systematically gauging and analyzing each phase of your project as it compares to the set objectives.

Evaluations typically fall into two standard categories:

1. Formative evaluation : extending from project development through implementation, continuously provides feedback for necessary adjustments and improvements. 

2. Summative evaluation : conducted post-project completion, critically assesses overall success and impact by compiling information on activities and outcomes.

Creating a conceptual model of your project is helpful when identifying these key evaluation points. Then, you must consider exactly who will do the evaluations, what specific skills and resources they need, how long it will take, and how much it will cost.

Sustainability

Presenting a solid plan that illustrates exactly how your project will continue to thrive after the grant money is gone builds the funder's confidence in the project’s longevity and significance. In this sustainability section, it is vital to demonstrate a diversified funding strategy for securing the long-term viability of your program.

There are three possible long term outcomes for projects with correlated sustainability options:

• Short term projects: Though only implemented once, will have ongoing maintenance costs, such as monitoring, training, and updates.

(E.g., digitizing records, cleaning up after an oil spill)

• Projects that will generate income at some point in the future: must be funded until your product or service can cover operating costs with an alternative plan in place for deficits.

(E.g., medical device, technology, farming method)

• Ongoing projects: will eventually need a continuous stream of funding from a government entity or large organization.

(E.g., space exploration, hurricane tracking)

Along with strategies for funding your program beyond the initial grant,  reference your access to institutional infrastructure and resources that will reduce costs.

Also, submit multi-year budgets that reflect how sustainability factors are integrated into the project’s design.

The budget section of your grant proposal, comprising both a spreadsheet and a narrative, is the most influential component. It should be able to stand independently as a suitable representation of the entire endeavor. Providing a detailed plan to outline how grant funds will be utilized is crucial for illustrating cost-effectiveness and careful consideration of project expenses. 

A comprehensive grant budget offers numerous benefits to both the grantor , or entity funding the grant, and the grantee , those receiving the funding, such as:

• Grantor : The budget facilitates objective evaluation and comparison between multiple proposals by conveying a project's story through responsible fund management and financial transparency.
• Grantee : The budget serves as a tracking tool for monitoring and adjusting expenses throughout the project and cultivates trust with funders by answering questions before they arise.

Because the grant proposal budget is all-encompassing and integral to your efforts for securing funding, it can seem overwhelming. Start by listing all anticipated expenditures within two broad categories, direct and indirect expenses , where:

• Direct : are essential for successful project implementation, are measurable project-associated costs, such as salaries, equipment, supplies, travel, and external consultants, and are itemized and detailed in various categories within the grant budget.
• Indirect : includes administrative costs not directly or exclusively tied to your project, but necessary for its completion, like rent, utilities, and insurance, think about lab or meeting spaces that are shared by multiple project teams, or Directors who oversee several ongoing projects.

After compiling your list, review sample budgets to understand the typical layout and complexity. Focus closely on the budget narratives , where you have the opportunity to justify each aspect of the spreadsheet to ensure clarity and validity.

While not always needed, the appendices consist of relevant supplementary materials that are clearly referenced within your grant application. These might include: 

• Updated resumes that emphasize staff members' current positions and accomplishments. 
• Letters of support from people or organizations that have authority in the field of your research, or community members that may benefit from the project.
• Visual aids like charts, graphs, and maps that contribute directly to your project’s story and are referred to previously in the application. 

Finalizing your grant application

Now that your grant application is finished, make sure it's not just another document in the stack Aim for a grant proposal that captivates the evaluator. It should stand out not only for presenting an excellent project, but for being engaging and easily comprehended . 

Keep the language simple. Avoid jargon. Prioritizing accuracy and conciseness. Opt for reader-friendly formatting with white space, headings, standard fonts, and illustrations to enhance readability.

Always take time for thorough proofreading and editing. You can even set your proposal aside for a few days before revisiting it for additional edits and improvements. At this stage, it is helpful to seek outside feedback from those familiar with the subject matter as well as novices to catch unnoticed mistakes and improve clarity.

If you want to be absolutely sure your grant proposal is polished, consider getting it edited by AJE .

How can AI help the grant process?

When used efficiently, AI is a powerful tool for streamlining and enhancing various aspects of the grant process.

• Use AI algorithms to review related studies and identify knowledge gaps.
• Employ AI for quick analysis of complex datasets to identify patterns and trends.
• Leverage AI algorithms to match your project with relevant grant opportunities.
• Apply Natural Language Processing for analyzing grant guidelines and tailoring proposals accordingly.
• Utilize AI-powered tools for efficient project planning and execution.
• Employ AI for tracking project progress and generating reports.
• Take advantage of AI tools for improving the clarity, coherence, and quality of your proposal.
• Rely solely on manual efforts that are less comprehensive and more time consuming.
• Overlook the fact that AI is designed to find patterns and trends within large datasets.
• Minimize AI’s ability to use set parameters for sifting through vast amounts of data quickly.
• Forget that the strength of AI lies in its capacity to follow your prompts without divergence.
• Neglect tools that assist with scheduling, resource allocation, and milestone tracking.
• Settle for software that is not intuitive with automated reminders and updates.
• Hesitate to use AI tools for improving grammar, spelling, and composition throughout the writing process.

Remember that AI provides a diverse array of tools; there is no universal solution. Identify the most suitable tool for your specific task. Also, like a screwdriver or a hammer, AI needs informed human direction and control to work effectively.

Looking for tips when writing your grant application? 

Check out these resources:

• 4 Tips for Writing a Persuasive Grant Proposal
• Writing Effective Grant Applications
• 7 Tips for Writing an Effective Grant Proposal
• The best-kept secrets to winning grants
• The Best Grant Writing Books for Beginner Grant Writers
• Research Grant Proposal Funding: How I got $1 Million

Final thoughts

The bottom line – applying for grants is challenging. It requires passion, dedication, and a set of diverse skills rarely found within one human being.

Therefore, collaboration is key to a successful grant process . It encourages everyone’s strengths to shine. Be honest and ask yourself, “Which elements of this grant application do I really need help with?” Seek out experts in those areas.

Keep this guide on hand to reference as you work your way through this funding journey. Use the resources contained within. Seek out answers to all the questions that will inevitably arise throughout the process.

The grants are out there just waiting for the right project to present itself – one that shares the funder’s mission and is a benefit to our communities. Find grants that align with your project goals, tell your story through a compelling proposal, and get ready to make the world a better place with your research.

The AJE Team

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

Free Grant Proposal Templates

By Andy Marker | February 1, 2018

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With grant proposals, individuals and organizations can solicit funds from foundations, government entities, corporations, and other sources for projects such as scientific research, humanitarian programs, academic study, social services, and professional development. Since grant funding can be a critical component for financing an organization or allowing research to progress, crafting an effective grant proposal is key. Whether you’re creating a lengthy proposal for a government agency, using a letter format for a private foundation, or entering info into an online application, a grant proposal helps potential funders understand the importance of your project and what you plan to achieve.

To help guide you through this process, a number of grant writing templates are available below, including proposal, application, and budget forms. These free, printable templates can provide structure, offer a professional presentation, and save you time and money. You’ll find templates in Microsoft Excel, Word, and PDF formats, all of which you can customize to suit your organization and project.

Grant Proposal Templates

Generic grant proposal template.

Use this template as a guide for preparing a grant proposal. It includes typical sections, such as a statement of need, project description, goals and objectives, and budget. There’s also room to add a detailed timeline. This template provides a basic outline that you can easily modify for a range of proposals.

Download Generic Grant Proposal Template

Word  |  PDF

Nonprofit Grant Proposal Template

Many nonprofit organizations rely on grants to pay for operating expenses and provide community services. This grant proposal template for nonprofits includes sections for adding organizational background information, details about the community or population that will be served, measurable goals, and more. Remove or add sections as needed to create a customized template.

Download Nonprofit Grant Proposal Template

Research Grant Proposal Template

Present your hypothesis, literature review, research plans, and projected outcomes with this research grant proposal. This template could be adjusted to suit a scientific research proposal or academic grant application. Depending on the application requirements, you may be able to submit this document as a formal proposal, or you can use it to compile and organize all of the information that will go into your final proposal.

Download Research Grant Proposal Template

Technology Grant Proposal Template

This technology grant proposal template is geared toward teachers and schools seeking funding for technology to use in the classroom. You can use the template to describe educational goals, technology needs, program sustainability, and budget requirements. The proposal also includes a timeline section to add a detailed schedule.

‌ Download Technology Grant Proposal Template

Grant Budget Templates

Grant proposal budget template.

Create an itemized grant proposal budget that shows income and expenses over the course of a given time period. Enter funding sources and amounts along with specific costs, and the template will automatically calculate the totals. You can use this template for planning purposes, or submit it as part of a larger grant proposal.

‌ Download Grant Proposal Budget Template

Grant Budget Revision Template

If you need to request a budget revision, this template is designed to show how funds will be adjusted by reducing the amounts allotted to one or more categories and increasing funds to others. Some grant makers require a revised budget so that they can approve how funds will be used. This template also includes room for adding organization and grant details.

‌ Download Grant Budget Revision Template

Nonprofit Cash Flow Projection Template

Nonprofits can use this cash flow template for financial planning over a 12-month period. The template shows revenue and expenses on a monthly, quarterly, and annual basis. The template also lists common funding sources along with operating costs, which can be edited to accommodate any type of organization.

‌ Download Nonprofit Cash Flow Projection Template

Grant Application Templates

Grant application template.

This template is intended for grant makers who want to create a grant application. It has sections for collecting applicant contact information, organizational details, and a thorough proposal, including a budget. Customize the application to cover whatever questions and information need to be reviewed to accurately assess a proposal.

Download Grant Application Template

Excel  |  PDF

Grant RFP Template

Grant makers can follow this outline to create a request for proposal template. Include submission instructions, agency background information, the timeline for reviewing proposals, and any requirements for proposal content and formatting. Applicants will also want to know what criteria will be used for evaluating proposals.

‌ Download Grant RFP Template - Word

Grant Report and Evaluation Templates

Grant proposal checklist and evaluation form.

Once you have completed a proposal, use this checklist to ensure that all application requirements have been met and to evaluate the proposal’s quality and effectiveness. Consider soliciting feedback on your proposal from stakeholders or others who may be less familiar with the project and, therefore, more objective. Taking a moment to review a proposal may help reduce errors or omissions that could cost more time and money in the long run.

Download Grant Proposal Checklist and Evaluation Form

Excel    |    PDF

Grant Report Template

Grantees may be required to submit an interim or final report describing the progress and outcomes of a project. This simple template provides an outline for creating a comprehensive report, including a financial update that shows how funds have been spent. Grant makers can provide this form to grantees so they have a template to follow for creating a narrative report.

‌ Download Grant Report Template

Grant Applications and Eligibility

Grant writing varies across disciplines, and proposals range from lengthy reports to brief letters that summarize project details. A science grant proposal might be 50 pages long and include a thorough literature review, background information for key personnel, research methodology, and more. The National Science Foundation, for instance, has extensive guidelines for grant applications, and its policies and procedures are outlined in a comprehensive guide for grant applicants.

An application for a global grant from the Rotary Club, on the other hand, is much shorter, and the information required depends on the type of project to be funded. The scope of a project, the amount of funding being awarded, the type of grant maker, and other factors influence what is required from grant seekers.

Businesses are generally not eligible for grants unless they qualify for funding through local government initiatives or are involved in research and development projects that are relevant to federal programs. Some states offer small-business grants to woman- or minority-owned businesses as well as for certain industries. If your company qualifies for federal or state funding, creating a business grant proposal would entail following the guidelines for a specific grant.

Some organizations will accept a common grant application form, which allows for a standardized proposal that saves time for both grant makers and grant seekers. When researching grant opportunities, it is important to understand and follow the application requirements so that your efforts aren’t undermined by technical errors, missing information, or mistakes in the submission process.

Mastering the Grant Writing Process

Writing grants may seem to adhere to a series of linear steps, but unless you are applying for a one-time grant and will not use grant funding in the future, grant writing is a circular process that follows a funding cycle. The process begins with a goal or need that gets translated into a proposal, which is reviewed by the agency or foundation supplying the grant, and then accepted or rejected.

Whether the proposal is accepted or not, the grant writing process continues into the next funding cycle as you revise and resubmit earlier grants or apply for new ones. Nonprofit organizations, ongoing research studies, and other groups that rely on grants as a primary funding source may need to keep a calendar and dedicate a writer to planning and securing grants.

To write an effective proposal, it is helpful to not only find grant opportunities that are relevant to your project, but also understand the funding source and gear your proposal to that audience. If a funder is available to meet in person prior to your organization submitting a proposal, that can go a long way toward providing a more personal context to your project and developing an ongoing relationship. Above all, the proposal should describe a project that can realistically be carried out by the applicant based on experience, qualifications, and financial resources.

As stated earlier, grant proposals vary widely and the content is largely dictated by the application requirements of a particular funder. However, there are commonalities among grant proposals. Here is a look at some of the information typically included:

• Cover Letter: Unless you have already had a face-to-face meeting or other contact with a funder, the cover letter is the first impression of your organization and project. Provide a brief summary that emphasizes your vision and objective.
• Proposal Summary: Although included at the beginning of a proposal, an abstract or executive summary section is often written last. It provides a brief overview of a project, including how the project fits with funding criteria.
• Literature Review: Academic and scientific research grants typically include a literature review that lists and evaluates sources of preliminary research that are related to the project.
• Statement of Need: The need statement is your opportunity to show a funder why your project is important. It explains the issue, and also provides background information and relevant research or evidence to support your proposal. You present the argument for why your project should be awarded funding over other proposals.
• Organization Description and Staff: Organizational history, background and qualifications for key personnel, and a program’s mission and track record for similar projects may all be important to illustrate a trustworthy reputation and your ability to successfully implement the proposed project. You may need a separate section to outline specific roles and responsibilities.
• Project Narrative: This is where you would include a lengthier project or program description, providing a detailed look at what the project entails, specific goals, and other information. You may include some of the sections listed here, such as personnel information, objectives, and measurements for success.
• Goals and Objectives: Breaking down goals into definitive and measurable results outlines the vision for a project as well as tangible outcomes. Grant proposals from nonprofits and other organizations involved in community projects may also include a description of the community being served, information on how it will benefit, and research on the potential for community involvement.
• Methods and Strategies: Grant makers will want to see how you plan to achieve goals and objectives. You may decide to include a logic model, which offers a condensed version of your proposal outline, to provide a visual representation of the key elements of your project and how they will lead to the intended outcomes. Clarify connections among methodology, objectives, and outcomes.
• Project Timeline: A timeline for your action plan can help funders visualize the stages of your project. This may be especially useful for research projects carried out over the course of several years. You may also want to include a budget timeline.
• Evaluation: Create an evaluation plan and describe what metrics will be used to assess a project’s effectiveness or impact.
• Sustainability Plan: If a project will continue into the future, create a plan for ongoing sustainability after grant funds have been used — doing so shows funders that a project is viable for the long term.
• Other Funding: Grant makers may want to see what other sources of funding you expect to receive for your project.
• Budget: The proposal budget shows estimated expenses along with sources of revenue. It provides an itemized look at how funds will be allotted and utilized.
• Appendix: References and additional materials can be included in the appendix.

Before submitting a completed proposal, grant writers can do their own review to ensure that the proposal meets the necessary criteria and application requirements. Grant makers will in turn conduct their review process and select which proposals to fund. Once funding is awarded, the grant maker and the grantee sign an agreement that describes the terms of the grant.

There are many sample grant proposal templates online that provide examples of successful applications. For instance, the National Institutes of Health (NIH) offers a variety of sample proposals for scientific research, as well as small-business funding for research and development.

Top 5 Grant Writing Tips

If you are new to grant writing, here are some tips to keep in mind as you develop your proposals:

• Give yourself plenty of time. Researching grant opportunities and gathering the information needed for an effective proposal can be a time-consuming process. Start earlier than you think you need to, and create a schedule to keep your grant writing process on track.
• Keep trying. If your proposal is rejected, revise it and apply again. Persistence can pay off, and you don’t need to wait for the results of one application before applying for a different grant. Sending proposals to a diverse selection of funders may also increase your chances of being selected.
• Details matter. Be specific about how funding will be used, goals will be achieved, and data will be collected, as well as your timeline of action steps. Grant makers want to know exactly how their money will be used, what impact the project or program will have, and why the project is important.
• Follow the rules. Follow grant application guidelines exactly, including answering required questions, providing requested information, and sticking to a submission timeline.
• Pay attention to formatting. The format of your proposal may be dictated by grant guidelines or a preset application, but make sure it is organized with clear headings. Information should be easily accessible and appropriate for the given audience.

One final tip: Create a reusable template that can be adjusted for a variety of grant applications.

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How to Write a Grant Proposal for a Small Business

Like a business plan, it is a challenge to complete a winning grant proposal, but if you are passionate about your business, then it is a small hurdle to overcome. Each grant is different in its requirements, but most of them ask for the same basic things as follows.

What is a Grant Proposal?

A grant proposal is a formal written request that someone, typically a potential donor willing to give grant money to an organization or cause based on merit, gives you financial assistance. There are many kinds of small business grants: for social service organizations by local and state government agencies and private organizations, for research projects and public health initiatives, and even for business ventures.  

Steps To Write a Grant Proposal for Small Business

Below are the steps to guide you through the process:

1. Research Grant Opportunities:

Start by researching available grant opportunities that align with your small business’s industry, goals, and needs. Look for grants from government agencies, non-profit organizations, and private foundations that support businesses like yours.

2. Read Guidelines and Requirements:

Once you’ve identified potential grants, thoroughly read and understand their guidelines and requirements. Each grant may have specific eligibility criteria, funding amounts, application formats, and deadlines.

3. Define Your Project or Business Need:

Clearly articulate the purpose of your grant proposal. Describe the project or business need that the grant will support and how it aligns with your company’s mission and objectives.

4. Craft a Compelling Executive Summary:

Write an engaging executive summary that succinctly summarizes your grant proposal. This section should highlight the most critical points of your project, emphasizing its significance and potential impact.

5. Outline Project Goals and Objectives:

Outline the specific goals and objectives of your project. Clearly state what you aim to achieve through the grant funding and how it will benefit your small business and the community.

6. Explain the Methodology:

Detail the methods and strategies you plan to use to accomplish your project goals. Provide a step-by-step explanation of how you will execute the project and measure its success.

7. Create a Budget:

Develop a detailed budget for your project, including all the expenses you anticipate. Be thorough and realistic in your estimates. Some grants may have specific budget formats that you must follow.

8. Demonstrate Sustainability:

Show how your small business plans to sustain the project’s impact beyond the grant period. Grant providers often look for initiatives that can continue making a difference even after the funding ends.

9. Include a Strong Organizational Profile:

Highlight your small business’s history, achievements, and expertise in the field. Demonstrate your business’s capability to successfully implement the proposed project.

10. Emphasize the Impact:

Clearly communicate the potential positive impact of your project on your small business, the community, or the industry. Use data and evidence to support your claims.

11. Review and Edit:

Go through your grant proposal multiple times to check for errors, consistency, and clarity. Consider having someone else review it as well to get a fresh perspective.

12. Submit the Proposal on Time:

Submit your grant proposal before the deadline. Late submissions are generally not accepted, so make sure you allow enough time for any unforeseen delays.

13. Follow Up:

After submitting the proposal, follow up with the grant provider if you don’t receive a response within the expected timeframe. Some grants may have a specific review process, and it’s essential to stay informed.

Why Write a Grant Proposal?

Grant funding can be a great way to get the money you need to start or expand your business. They are typically less restrictive than small business loans, and the application process is usually simpler. In addition, if your grant proposal is accepted, you may have access to other resources such as mentorship, networking opportunities, and workshops.

Who Can Apply For a Grant?

Not every cause will be eligible for grant funding. Applicants must meet the eligibility requirements outlined in the grant proposal guidelines, which means that they must fit into a certain category.

For example, an organization offering free job training to people who are physically or mentally disabled would be instantly eligible for grants by many granting agencies if it could prove its work ethic, validity, and financial stability. However, a new business start-up would not be as easily funded, since it is difficult to judge the potential success or failure of a company that has yet to go into operation.

What Are the Requirements?

Every grant proposal has different requirements, but most ask for the same basic information. These typically include:

• The organization’s history and mission
• What the grant money will be used for
• A detailed budget
• The impact the grant will have
• The organization’s financial stability
• A cover letter

It is important that your plan clearly states the specific purposes for which grant funds were requested, along with all the details about how they will be used and how much money will be required. Your proposal should also contain some personal information about yourself or your company, as well as your contact information.

What is the Grant Proposal Process?

• Your first step is to identify the grant you want to apply for and read the guidelines carefully.
• Gather all the necessary information – this will typically include your business plan, financial statements, resumes, and letters of recommendation.
• Complete the grant application and make sure you submit everything on time.
• Wait to hear back – if you are successful, congratulations! If not, don’t be discouraged and reapply the next year.

Types of Small Business Grants Available

There are many different types of grants that small businesses can apply for. The most common are federal grants, state grants, and local grants.

Federal Grants : These grants are awarded by the United States government to eligible organizations and individuals to support specific programs and projects. There are many different types of federal grants, and the application process is typically very competitive.

State Grants : State grants are awarded by state governments to eligible organizations and individuals to support specific programs and projects. The grant application process for state grants is typically less competitive than for grants from the federal government, but the awards are typically smaller in size.

Local Grants : Local grants are awarded by local governments to eligible organizations and individuals to support specific programs and projects. These grants typically have less stringent qualifications than federal or state grants, but the application process is typically more intensive due to the smaller number of available funds.

How Can I Find Grants for My Business?

There are many ways you can find grants for your business. The first step is to conduct an internet search for “grants for small businesses.” This will yield a variety of results, including government websites, private grant-making organizations, and online directories.

The next step is to identify which grants are best suited for your business. The most important factor to consider is the eligibility criteria of the grant. Each grant has its own set of qualifications, so take the time to review these guidelines carefully.

The final step is to complete and submit your grant application form before the deadline has passed. Although it may seem intimidating, completing a grant requires only a few hours of work and can have substantial benefits for your business down the road.

How to Write a Grant Letter for Small Business?

Although there is no set standard for a successful grant proposal, it usually includes a combination of all or most of the same elements. Here are some tips for writing a grant proposal for your nonprofit or small business.

To write an effective grant proposal, you should include the following elements:

Cover Letter

Table of contents, executive summary.

• Needs Statement & Problem Statement

Project Description

• Methods, Project Management Plans & Timelines

A good cover letter introduces the grantor to the business and extols its virtues about why the business is ideal for the grant. Make sure to cater to the specific grant and not speak in generalities as if you are applying to every financing source under the sun (even if you are).

This section helps the grantor flip right through to the specific section he wants to see. Make the grantor’s life easier and display your professionalism and courtesy at the same time. Our non-profit business plan template includes each of the items to include in your Table of Contents.

The executive summary of a document summarizes the rest of it. In this document, you should pinpoint the main reasons the grant is needed and how it will solve the problems of the grantee. The amount of small business funding, as well as information about the venture, should also be listed. Use this part of the document to convince the grantor that funding your business is the greatest idea ever and they’ll continue reading the rest of the proposal.

Needs Statement & Problem Statement

In this section of the document, detail the needs and problems that the project or venture is fulfilling and solving. Conduct research and show that you have done your homework. Answer key questions: What is the scope of the problem? What will your business do that someone hasn’t or can’t easily do in the future? Show that you fill a void in the market and that you need the grant to do so. Be concise and to the point.

The project description section is the main section of the small business grant proposal. This section is written best by separating different issues and ideas into separate sections. This will make it easier for you to write the section by focusing on one idea at a time and make it easier on the reader as well since the section won’t jump all over the place.

Goals & Objectives

The project goals section doesn’t list anything in intense detail but gives the reader an idea of what the potential grantee is trying to achieve.

The objectives section includes measurable aspirations of the venture such as achieving a hold of a certain percentage of the estimated market. Break down objectives in a bulleted list so it’s easier to read.

Methods, Project Management Plans, & Timelines

This section will show the reader how objectives will be achieved. The methods, plans, and timeline of implementation for those methods and plans will also be shown. Visual timelines are best to show the reader exactly where everything fits into the scheme of things as well as when. This section shows the reader you not only have goals and objectives but that you also know how to achieve them using a detailed well thought out plan.

Many government grants will have stringent personnel requirements because they want you to create employment with the money that they are giving you. If the grant needs specific information or provisions regarding personnel, make sure your personnel planning matches those requirements. Also, make sure that your objectives match personnel planning. Aggressive objectives might have to be matched with substantial growth in employment in certain industries.

The process of writing a grant proposal can seem daunting, but with careful preparation and organization, it can be a relatively easy task. By following these simple steps, you can increase your chances of being awarded the grant money you need to help your small business grow.  

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Business Planning for Nonprofits

Business planning is a way of systematically answering questions such as, “What problem(s) are we trying to solve?” or “What are we trying to achieve?” and also, “Who will get us there, by when, and how much money and other resources will it take?”

The business planning process takes into account the nonprofit’s mission and vision, the role of the board, and external environmental factors, such as the climate for fundraising.

Ideally, the business planning process also critically examines basic assumptions about the nonprofit’s operating environment. What if the sources of income that exist today change in the future? Is the nonprofit too reliant on one foundation for revenue? What happens if there’s an economic downturn?

A business plan can help the nonprofit and its board be prepared for future risks. What is the likelihood that the planned activities will continue as usual, and that revenue will continue at current levels – and what is Plan B if they don't?

Narrative of a business plan

You can think of a business plan as a narrative or story explaining how the nonprofit will operate given its activities, its sources of revenue, its expenses, and the inevitable changes in its internal and external environments over time. Ideally, your plan will tell the story in a way that will make sense to someone not intimately familiar with the nonprofit’s operations.

According to  Propel Nonprofits , business plans usually should have four components that identify revenue sources/mix; operations costs; program costs; and capital structure.

A business plan outlines the expected income sources to support the charitable nonprofit's activities. What types of revenue will the nonprofit rely on to keep its engine running – how much will be earned, how much from government grants or contracts, how much will be contributed? Within each of those broad categories, how much diversification exists, and should they be further diversified? Are there certain factors that need to be in place in order for today’s income streams to continue flowing?

The plan should address the everyday costs needed to operate the organization, as well as costs of specific programs and activities.

The plan may include details about the need for the organization's services (a needs assessment), the likelihood that certain funding will be available (a feasibility study), or changes to the organization's technology or staffing that will be needed in the future.

Another aspect of a business plan could be a "competitive analysis" describing what other entities may be providing similar services in the nonprofit's service and mission areas. What are their sources of revenue and staffing structures? How do their services and capacities differ from those of your nonprofit?

Finally, the business plan should name important assumptions, such as the organization's reserve policies. Do your nonprofit’s policies require it to have at least six months of operating cash on hand? Do you have different types of cash reserves that require different levels of board approval to release?

The idea is to identify the known, and take into consideration the unknown, realities of the nonprofit's operations, and propose how the nonprofit will continue to be financially healthy.  If the underlying assumptions or current conditions change, then having a plan can be useful to help identify adjustments that must be made to respond to changes in the nonprofit's operating environment.

Basic format of a business plan

The format may vary depending on the audience. A business plan prepared for a bank to support a loan application may be different than a business plan that board members use as the basis for budgeting. Here is a typical outline of the format for a business plan:

• Table of contents
• Executive summary - Name the problem the nonprofit is trying to solve: its mission, and how it accomplishes its mission.
• People: overview of the nonprofit’s board, staffing, and volunteer structure and who makes what happen
• Market opportunities/competitive analysis
• Programs and services: overview of implementation
• Contingencies: what could change?
• Financial health: what is the current status, and what are the sources of revenue to operate programs and advance the mission over time?
• Assumptions and proposed changes: What needs to be in place for this nonprofit to continue on sound financial footing?

More About Business Planning

Budgeting for Nonprofits

Strategic Planning

Contact your state association of nonprofits  for support and resources related to business planning, strategic planning, and other fundamentals of nonprofit leadership. 

Additional Resources

• Components of transforming nonprofit business models  (Propel Nonprofits)
• The matrix map: a powerful tool for nonprofit sustainability  (Nonprofit Quarterly)
• The Nonprofit Business Plan: A Leader's Guide to Creating a Successful Business Model  (David La Piana, Heather Gowdy, Lester Olmstead-Rose, and Brent Copen, Turner Publishing)
• Nonprofit Earned Income: Critical Business Model Considerations for Nonprofits (Nonprofit Financial Commons)
• Nonprofit Sustainability: Making Strategic Decisions for Financial Viability  (Jan Masaoka, Steve Zimmerman, and Jeanne Bell)

Disclaimer: Information on this website is provided for informational purposes only and is neither intended to be nor should be construed as legal, accounting, tax, investment, or financial advice. Please consult a professional (attorney, accountant, tax advisor) for the latest and most accurate information. The National Council of Nonprofits makes no representations or warranties as to the accuracy or timeliness of the information contained herein.

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Blog Business How to Write a Grant Proposal [Templates Included]

How to Write a Grant Proposal [Templates Included]

Written by: Tobi Ojenike Feb 28, 2024

If you work for a nonprofit organization or are a researcher, you’ll know that a grant proposal is a document submitted to a funding agency.

Grant proposals are also known as a request for application, notice of funding opportunity, or request for quotes and qualifications.

Grant proposals are your chance to convince grantmaking bodies (agencies that distribute funds) to hand over money. Generally, grant proposals include information such as an organization’s mission and budgetary needs.

In this post, I’ll show you how to write a successful grant proposal (tips and templates included!) and then teach you how to make a grant proposal using a Proposal Maker and grant proposal templates .

Click to jump ahead:

• Factors to consider before writing a grant proposal

How to write a grant proposal

Sample grant proposal templates.

• How to create a grant proposal with Venngage

Here are some things to consider before writing a grant proposal

• Audience:  Consider your target audience and tailor your copy to their interests and needs.
• Funding:  Choose your funder carefully. Always have an alternative list of potential funders and know the long-term sustainability of your project.
• Understand the grant requirements: Every grantmaking body sets its own rules regarding goals, application deadlines, and guidelines, so make sure you understand them and can differentiate between them.
• Have a plan :  Create a specific, actionable plan for what you want to do and why. Make sure you know how your plan will achieve positive results.
• Write a draft : Research and write down each request in an outline. Plan how you’ll add visuals to give your grant proposal an extra edge.
• Be clear and concise:  Avoid writing in the past tense and use action verbs. Again, visuals can sometimes be a better option over words.
• Include supporting materials : Provide a budget of how you’ll use the funds and include evidence to substantiate any claims you make.

Other helpful tips to consider

Here are some extra tips to help you write a grant proposal that stands out.

• Start early
• Apply early and often
• Get feedback and revise your proposal accordingly
• Be brief, concise and clear
• Be organized and logical
• Be explicit and specific
• Be realistic in designing the project
• Follow up after the proposal

Grant writing can be tricky, but it doesn’t have to be if you understand the basics.

In this section, I’ll give you tips on how to write grant proposals that’ll impress prospective funders (grant writers take note!).

Include a cover letter

The cover letter is not technically part of a grant proposal but they’re core to a successful grant application because it helps funders understand who you are.

Busy decisionmakers want to know who they’ll be funding and look for clues in your cover letter after reading through your proposal.

In your cover letter, don’t be afraid to bring out your personality, but also make sure you cover the basics like how your project fits with the funder’s objective.

Include an executive summary

The executive summary is probably the first (and maybe only) part of a grant proposal read by a funding organization.

It needs to be concise and summarize key points such as goal, strategy, people involved, expected results, and budgetary needs.

Here’s an example executive summary for some inspiration.

Provide organizational information

Providing organizational information in a grant proposal helps build credibility and establishes trust.

More importantly, this section allows funders to assess the alignment between their funding priorities and your organization’s goals and activities.

Therefore, make sure to answer questions like: What is your mission? Do you have an organizational history? What will be the impact of this project? What other programs or services do you render? 

Here’s an example of background organizational information you can make your own.

State your objective(s)

Early in your grant proposal, you should state the objectives of your project, the target audience, and expected results.

This underscores the feasibility of your project within a grant timeframe and can influence funders’ decision on a project’s worthiness (i.e.; the difference between a yes and no).

Here’s a great example of a grant proposal that nails this section.

Describe the statement of needs

The statement of needs section is used to build strong case for your project.

In this section, use data, facts and figures to back statements. This will be more meaningful than just words alone.

But make sure your data is accurate. There’s nothing worse than misleading information which can lead to rejections and damage your reputation.

Here’s a grant proposal template that has a customizable statement of needs.

Explain your methods and strategies

You’ve identified a problem and solution, but how are you going to achieve what you plan to do?

That’s what the methods and strategies section is for. Here, potential funders want to see how you’ll use their funds to determine if the project is viable.

For example, maybe your objective is to enhance community health through a mobile clinic initiative.

Detail each step of this process from procurement of medical equipment and vehicles, recruitment and training process for healthcare professionals, and logistics for deploying mobile clinics.

Here’s an example of a grant proposal that first lists goals and objectives and immediately provides an overview of the path to success.

Include an evaluation plan

When funders hand out money, they have certain conditions, like making sure you are held accountable of project progress. Often, you’ll only get more money to continue as you complete milestones.

The evaluation plan section is where you show funders how you’ll spend money as described in your grant proposal to ease their fears and doubts.

This section also shows funders that you have a realistic timeline for the project and that you’re not using the funds for any other purposes.

Include a project budget

Perhaps the most part of your grant proposal is the project budget. This is where you reveal exactly how you’ll be using funds.

Be transparent and provide a full overview of expenses and detail where and how it’ll be spent.

A great way to do this is to use an itemized table or financial plan.

When presenting an overall sum, make sure you don’t overstate or understate your needs. You don’t want funders to doubt your true intent or doubt project viability.

Here’s a grant proposal with a budget section you can use.

Include a financial sustainability plan

Most grant writers overlook including a long-term financial sustainability plan.

Most funders view grants as a long-term investment and want to back projects that can be sustainable even after the money stops rolling in.

Demonstrating a clear understanding of these factors shows funders that you have thoroughly considered the project’s financial trajectory and are prepared to manage it responsibly.

What should you include here? Total cost of future ownership, maintenance costs, inflation, ongoing, and future growth potential are a few ideas.

Sign off with your team information

Treat grant proposals as official documentation.

At the end of your grant proposal, include your (or your company’s) contact details. This makes it easier for the funders to reach out to you and do their research on you and your team.

Here’s an example of a grant proposal with a great ‘about us’ section.

Now that you understand the basics of a grant proposal, it’s time to get to work and create your own.

But you don’t need to start from scratch. Instead, edit these grant proposal templates and convert them into your own winning proposal

(Hint: visit the links to see the entire template).

How to create grant proposals with Venngage

If you want to create grant proposals that grab attention, look no further than Venngage.

With Venngage, you can you communicate boring technical info with engaging visuals and customize our professionally-designed grant proposal templates.

You don’t need to be a designer to use Venngage. If you know how to work Microsoft Word or Google Slides or similar tools, you can use Venngage.

Step 1 – Sign up for a Venngage account (it’s free!)

Sign up for a Venngage account for free using your email, Gmail or Facebook.

Step 2 – Go to the “Templates” page and select “Proposals”

Venngage already has grant proposal templates you can edit to suit your idea and vision.

To find them, go to our templates page and choose the “Proposals” category. After selecting it, this screen should load.  

Note :  Some of our grant proposal templates are free to use and some require a small monthly fee. Sign-up is always free, as is access to Venngage’s online drag-and-drop editor.

Step 3 – Select the “grant proposal” subcategory

Look for the grant proposals subcategory in the proposals template page and select it.

Step 4 – Customize your grant proposal

Browse our selection of grant proposal templates. Once you find one you like, click on it to launch the editor tool.

Here, you’ll be able to add your own text, change the design, and customize the template as you like.

Some of your customization options include:

• Add engaging visuals and symbols 
• Change color scheme
• Change the fonts and text to match your brand or style
• Move elements around with a drag and drop interface

For example, let’s pretend I chose this grant proposal template to customize.

Let’s edit this together.

For example, I want to replace the logo to reflect my company. Well, just select it and click the “ Replace ” feature on the top left. 

Once you click “ Replace “, a tab will open where you can select visuals from our library of icons. You can also upload an image (your logo).

By the way, our in-editor library has thousands of free, professional icons, plus diverse icons.

Now, let’s say I want to change the background color of some of my template.

That’s easy as well! Just select the text or background and select the “Replace” feature again. This time, you’ll be prompted with another pop-up where you can select a different color.

If you sign up for a Business Plan, you’ll also get access to My Brand Kit . With this, you can apply your brand colors to any design with one click. 

Step 5 – Save, share, or download your grant proposal

When your grant proposal is complete, you can save it as a PDF or PNG file if you’re on a Business Plan.

However, all users will always have access to shareable link that they can send potential funders.

Final thoughts: Create grant proposals with Venngage and secure funding today

A well-structured grant proposal with appealing visuals can make a lasting impression on funders and tip the balance in your favor.

Don’t waste your time with tools like Word, Google Docs where you’ll get limited design flexibility and visuals that don’t engage.

Instead, head over to Venngage’s grant proposal templates to give yourself a winning edge.

Frequently asked questions

How long is a grant proposal? 

The length of a grant proposal depends on the funder but a typical grant proposal is usually between 5-20 pages. The funding body might request additional documents as well, so it’s important to know funding guidelines.

What is the writing style for a grant proposal?

The writing style for a grant proposal is formal. You want to be concise and objective, so focus on clarity, impact and your alignment with the priorities of the funder.

What is the lifecycle of a grant proposal?

The grant proposal lifecycle begins with research, planning and development, followed by drafting, revising and editing the narrative and budget. Applications are then submitted before funders review and make decisions. If successful, negotiations may occur to finalize details, after which the funded project is implemented according to the approved plan. Finally, progress and final reports are submitted to the funder. This cyclical process ensures accountability and project success.

What is the difference between a proposal and grant proposal?

Proposal is a broader term encompassing various applications for funding, resources, or partnerships whereas a grant proposal specifically refers to an application for grant funding from a foundation, government agency, or other organization.

What is the difference between a grant proposal and a grant letter?

A grant proposal is a detailed document that includes the project description, methodology, financial plan, and financing rationale. A grant letter, on the other hand, can be a more straightforward request or statement of interest.

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Successful Grant Proposal Examples: The Ultimate List for 2024

Reviewed by:

September 13, 2021

Last Updated:

January 29, 2024

Table of Contents

Writing grant proposals can be a stressful process for many organizations. However, it's also an exciting time for your nonprofit to secure the funds needed to deliver or expand your services.

In this article, we'll dig into successful grant proposal examples to show how you can start winning grant funding for your organization.

By the time you finish reading this, you'll understand the characteristics of successful proposals, examples of grant proposals in a variety of program areas, and know exactly where you can find more sample grant proposals for nonprofit organizations .

Ready? Let's dig in!

Why Should You Find Successful Grant Proposal Examples?

Whether you are a seasoned grant writer or are preparing your first proposal ever, grant writing can be an intimidating endeavor. Grant writing is like any skill in that if you apply yourself, practice, and practice some more, you are sure to increase your ability to write compelling proposals.

Successful grant proposals not only convey the great idea you have for your organization but convince others to get excited about the future you envision. Many follow similar structures and developing a process that works best for your writing style can help make the task of preparing proposals much easier.

In addition to showing what to and not to do, finding successful grant proposals can help you see significant trends and structures that can help you develop your grant writing capabilities.

What Characteristics Make a Grant Proposal Successful?

"Grant writing is science, but it's not rocket science." - Meredith Noble

There's a lot that goes into creating a successful grant proposal. If you're feeling overwhelmed, Meredith Noble, grant writing expert, shares a straightforward step-by-step process to win funding.

1. Successful grant proposals have a clear focus.

Your first step when searching for funds is to clearly understand why you need those funds and what they will accomplish. Funders want to invest in programs they believe will be successful and impactful.

In your proposals, you want to instill confidence in your organization's commitment to the issue, dedication to the communities you serve, and capacity to fulfill the proposed grant activities.

Some questions that you may want to consider include:

• Are you looking for funds to establish a new program, launch a pilot project, or expand an existing program?
• Will your proposed program be finished in a year, or will it take multiple years to achieve your goal?
• Who is involved in your program, and who will benefit from its success?
• What problem will the proposed program address, and how is that solution unique?
• What are the specific, tangible goals that you hope to accomplish with the potential grant award?

Discover Your Next Grant

2. successful grant proposals are supported with relevant data..

Before starting your grant proposal, you want to take the time to do your research and make sure that your action plan is realistic and well-supported with data. By presenting yourself as capable and knowledgeable with reliable data, a thorough action plan, and a clear understanding of the subject matter.

It can also be beneficial to include data that your organization has collected to show program impacts and staff successes. Conduct regular analysis of program activities, grant deliverables, and collect success stories from clients and community members.

Some tips for when you collect your grant research :

• Make sure that you gather data from reputable sources. For example, at government sites such as Data.Census.gov , the U.S. Bureau of Labor Statistics for demographic data, or the U.S. Small Business, Explore Census Data Administration for industry analyses.

• Include diverse data. There may be some statistics where the numbers are enough to grab the reader's attention; other times, it may be helpful to have illustrations, graphs, or maps.
• In addition to quantitative data, qualitative data such as a story from an impacted community member may be extremely compelling.
• Make sure that the data you include is relevant. Throwing random numbers or statistics into the proposal does not make it impressive. All of the included data should directly support the main point of your proposal.
• You may find it useful to log important notes around what data you want to include in your grant proposal using a grant tracking tool such as Instrumentl .

By the way, check out our post on grant statistics after you finish this one!

3. Successful grant proposals are well-organized

Make sure to pay close attention to all of the requirements that a potential funder includes in their grant details and/or request for proposals (RFP). Your submission and all accompanying attachments, which may also include any graphs and illustrations, should adhere precisely to these guidelines.

Frequently the RFP or grant description will include directions for dividing and organizing your proposal. If, however, it does not, it is still best practice to break your proposal into clear sections with concise headings. You can include a table of contents with page numbers as well.

Standard grant proposal sections include:

• Proposal Summary: Also called the Executive Summary, this is a very brief statement (1-3 paragraphs) that explains your proposal and specifically states the amount of funding requested.
• Project Narrative: The bulk of your proposal, the Project Narrative, will do most of the work introducing your organization, the program, and describing your project. - Organization History: Who you are, what you do, where and how you do it. - Statement of the Problem: Background information on the problem and how it will be solved through the grant. - Project Description: Detailed explanation of the program you intend to implement with the grant, including a detailed timeline.
• Budget and Budget Justification: A breakdown of the project resources into specific budget categories, the amount allocated to each category, and appropriate reasons for that breakdown.

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4. Successful grant proposals are tailored to the funder.

In addition to finding the basic details on the funding opportunity and application guidelines, you should also look into the funder, their giving priorities, and history.

Funders are much more likely to select your organization among others if they clearly understand and empathize with your cause and recognize the impact your work has in the community.

For more details on establishing meaningful relationships with funders, check out our article on How to Approach and Build Grant Funder Relationships .

The first step in determining whether a funding opportunity is a good fit, do some research to ensure your organization's programs and financial needs meet the funder’s interests and resources.

A few questions to ask include:

• What are the organization’s values, written mission, and goals?
• How is what you want to do aligned with the overall mission of this agency?
• Do their giving priorities match with the vision of your proposed program?
• Will this grant cover the entire cost of your program, or will you need to find additional funds?
• Does the grant timeline meet the budget needs of your organization?
• Are there other considerations that might be useful for us to know in preparing your application?

5. Successful grant proposals are proofread!

If you have been in the grant writing game for any extended period of time, chances are that you’ve dealt with tight deadlines. Nonprofit staff often have a lot on their plates, and if you happen to find an attractive funding opportunity when there’s only a handful of days before its deadline, it may be difficult to walk away.

It is crucial to plan an appropriate amount of time to review and proofread your proposal. Grammar mistakes can make or break your submission and they are easy to fix.

General strategies for editing your proposal include:

• Use one of the many available grammar-checking software such as Grammarly or GrammarCheck.me . These online tools are often free to use and can help you quickly and accurately review your work.

• Ask other members of your team to peer-review the proposal. It is especially important to have staff working on or who are directly impacted by the program proposed to ensure everyone is on the same page. Additionally, these staff members have the most information about the program's implementation and can catch inconsistency or unrealistic promises in the proposal.
• It is also helpful to ask someone unfamiliar with your program and the subject matter discussed in the proposal. Sometimes the grant reviewer may not have the same level of knowledge you or your staff have about the subject matter, and so you want to ensure you stay away from overly-specific jargon and undefined acronyms.
• Read through it (again!). A final read-through, maybe out loud, after all the edits have been made, can help you catch overlooked mistakes or inconsistencies in the proposal.

If you're looking to start building your own nonprofit financial statement and nonprofit membership application, get started quickly by using our Nonprofit Financial Statement Template and Nonprofit Membership Application Template . The template is made in Canva, an an easy-to-use creative design tool. You can jump right in, change colors, add your logo, and adjust the copy so it fits your brand.Why start from scratch when you can use one of our templates?

The Ultimate List of Grant Proposal Examples

As stated early on in the article, every grant proposal is unique. We have curated a list of sample grants for various types of projects or nonprofit organizations. This list is in no way exhaustive, but several examples cover common program designs and focus areas that receive philanthropic support through grants.

Research Grant Proposal Samples

Finding a grant opportunity to fund research can be a challenge. These types of grants are typically intensive and require in-depth expertise, a proposed research design, explanation of methodology, project timelines, and evidence of the principal investigator(s) qualifications.

The following are examples of grant proposals in support of research projects or studies.

Harvard University - Proposal to the Robert Wood Johnson Foundation (2009) :

Researchers at Harvard University proposed to research the “growth of policies in the United States around the use of genomic science in medicine and racial identity.”

For grants focused on research, it is important to ensure that the proposal can be understood by different kinds of stakeholders. While the research may be very specific and require some expertise to understand, the purpose and need for the research undertaken should be able to be understood by anyone.

For example, being cognizant of jargon and when it is and isn’t appropriate to use is incredibly important when developing a research grant proposal.

This proposal to the Robert Wood Johnson Foundation, while very detailed and specific, still lays out the intent of the proposal in laymans terms and includes the appropriate amount of detail while ensuring that a broader audience can read and understand the request and purpose of the study.

Northwestern University - Annotated Grant Proposal Sample (2016)

For individuals or organizations who are interested in developing a great grant proposal in support of a research project, Northwestern University has a catalog of grant proposal samples with annotations denoting notable strengths and weaknesses of the application.

Linked above is one such example, a grant proposal in support of a project titled “Understanding the Stability of Barium-Containing Ceramic Glazes”. Review Northwestern University’s catalog of sample proposals here for additional guidance and inspiration.

Clinical Trial Grant Proposal Sample

Clinical trials are important research projects that test medical, behavioral, or surgical inventions to prove or disprove hypotheses about their efficacy. These trials are an important component of scientific and medical advancement. Oftentimes, hospitals or research institutions require robust funding from grants to initiate a trial of this kind.

While clinical trials are highly specific and require a great deal of expert input to develop, reviewing a grant proposal sample can help you prepare should your nonprofit organization decide to pursue a funding opportunity of this kind.

University of Alabama at Birmingham, Center for Clinical and Translational Science – NIH Grant R Series Samples :

If your nonprofit organization is seeking funding for a clinical trial, a great place to begin for tools and resources is the University of Alabama’s Center for Clinical and Translational Science.

The Center’s website has several sample proposals submitted to the National Institutes of Health. For professionals hoping to submit a grant proposal in support of a clinical trial, you may find one among these excellent examples that aligns closely with your work and can guide the grant development process.

Community Garden Grant Proposal Sample

Community gardens are idyllic cornerstones of their neighborhoods, cultivating lush, green spaces where residents can build a thriving community. Some community gardens are run by nonprofits such as land trusts or are born out of special projects initiated by nonprofit organizations.

Either way, to ensure the sustainability of local community gardens, gardeners and community garden managers may need to apply for funding through grant opportunities. Below is just one grant proposal sample in support of a community garden that may help you develop your own winning community garden grant application.

Stockton University – Community Garden 2020 Proposal :

This grant proposal submitted on behalf of Stockton University does an excellent job of illustrating the success of their community garden project and justifies the need for funding to sustain the momentum of the project going forward.

This proposal is also visually compelling and well-designed, incorporating photos and color schemes that directly evoke the image of a flourishing community garden. Ensuring your proposal document is easy to read and incorporates a strong layout and design can sometimes make or break an otherwise strong proposal that is being judged in a competitive pool of applicants. Strong design elements can set your proposal apart and make it shine!

Government Grant Proposal Samples

Government grants are some of the most complex and challenging funding opportunities that a person can come across. Funding from government entities is allocated from tax-payer dollars, and as such the government employs strict requirements and rigorous oversight over the grantmaking process.

Having a successful template or sample in hand can help position you for success when you need help applying for a government grant.

National Endowment for the Humanities - Challenge Grant Proposal Narrative Sample :

Developing a grant narrative is a challenge regardless of the opportunity. Government grants, which require very specific detail, can pose an even greater challenge than most opportunities. Linked here is a successfully funded project of the Alexandria Archive Institute, Inc . through a grant from the National Endowment for the Humanities (NEH).

This project is a great example of how to develop a grant narrative that successfully addresses the stringent requirements associated with grant proposals. Note how each section is laid out, the double spacing, citations, and other key elements that are required in a government proposal to adhere to specific standards.

Even though this is a great example, also be aware that every government agency is different and while this proposal was a successful application for the NEH, other agencies may have different requirements including specific narrative sections, attachments and work plans, among other key items.

Environmental Protection Agency (EPA) – City of Pleasantville Clean School Bus, Clean Snow Removal Trucks and Clean Bulldozers Project Proposal Sample :

The Environmental Protection Agency (EPA) offers an example grant for potential grantees to review. This sample proposal envisions a project by a local municipality to procure buses, snow removal trucks, and bulldozers that produce less emissions thereby decreasing air pollution in the region. This sample proposal is a great guide for developing a compelling narrative and weaving in evidence-based data and information to support throughout.

Conference Grant Proposal Sample

Conferences are an important aspect of a nonprofit or educational institution's operations. Conferences can help bring together like minded individuals across sectors to find solutions and sharpen their skills, and they can facilitate the formation of powerful coalitions and advocacy groups.

Identifying funding for conferences can be difficult, and requires a thoughtful, strategic approach to achieve success. Following a template or grant proposal sample can help guide you through the application process and strengthen your chances of submitting a successful application.

Agency for Healthcare Research and Quality – American Urological Associations Quality Improvement Summit :

This sample proposal provides an extensive template to follow for writing a successful conference grant proposal. The proposal follows an easily understood, structured narrative, and includes a detailed budget and key personnel profiles that will help anyone applying for grant support strengthen their chances of developing a high-quality application.

Dance Grant Proposal Sample

There are countless arts and cultural nonprofit organizations in the United States. According to Americans for the Arts , there are over 113,000 organizations (nonprofit or otherwise) devoted to promoting arts and culture in communities throughout the country—including dance.

Whether a theater that focuses on dance performance or a studio that teaches beginners how to appreciate the art form, there are a variety of dance-focused nonprofits that exist. Identifying strong grant proposal samples for dance-focused organizations or projects can be helpful as you work to help your dance program grow and gain revenue.

Mass Cultural Council – Dance/Theater Project Grant Sample :

This is an example proposal for an interactive dance/theatrical puppet project that focuses on engaging families. While this example captures a very unique and specific project, it also provides a good example of how to craft a case statement , write a strong project description, and develop a detailed project budget.

Daycare Grant Proposal Sample

In the United States, daycares are a vital component of childhood development, but unfortunately many families are unable to access them due to cost or accessibility. Studies show that in 2020 alone, over 57% of working families spent more than $10,000 on childcare while 51% U.S. residents live in regions classified as “childcare deserts”.

Given this, nonprofit daycares are vital to supporting future generations and providing accessible and affordable childcare for parents throughout the country. Many nonprofit daycares rely on generous funding through grants. Nonprofit day care professionals can use all the help they can get to submit winning proposals and sustain their daycare’s operations.

Relying on a high-quality grant proposal sample or template can be a huge help when working on a grant application or writing a proposal in support of a daycare.

AWE - Digital Learning Solutions – Grant Proposal Template :

While not a straightforward grant proposal sample, this grant template provides detailed guidance and helpful examples of how to respond to common questions and how to craft essential elements of a grant proposal focused on childcare and childhood development.

For example, the template provides easy to understand steps and bulleted lists for every key component of the grant proposal including a case statement, organizational capacity and information, project sustainability, project budget, and project evaluation.

Literacy Grant Proposal Sample

Promoting literacy is a very common mission for nonprofit organizations throughout the U.S. and the world. Literacy projects and programs are typically provided by educational institutions or education focused nonprofits.

In fact, according to the Urban Institute , Education focused nonprofits made up 17.2% of all public charities. With numbers like these, it can be helpful to gain insights from a grant proposal sample that will help you win grants and grow your organization.

Suburban Council of International Literacy (Reading) Association “Simply Reading” – Grant Proposal Sample :

This sample proposal to the Suburban Council of International Literacy (Reading) Association (SCIRA) is a great example of a strongly developed narrative that makes a powerful case for how fostering a love for reading among young students can result in improved educational outcomes. This helpful guide provides a framework for drafting a high-quality grant narrative while also giving examples of other key proposal elements such as a project budget.

Successful Educational Grant Proposals

Educational programming can be highly diverse in its delivery. Check out these examples of successful grant proposals for education to help you get started winning funds for your next educational program.

Kurzweil Educational Systems : In addition to this being a successful grant proposal, this example also includes detailed explanations of each section and provides useful guidelines that can help you frame your proposal.

Salem Education Foundation : This foundation has posted a sample application of a school seeking funding for increasing youth enrichment opportunities for their annual grant.

This is a great example for funding opportunities that ask specific questions about your organization and the proposed project instead of requesting a general proposal or narrative.

Successful Youth Grant Proposals

These examples of grant proposals for youth programs can help you tap into one of the largest categories of charitable dollars.

Family Service Association (FSA): This example of a grant proposal that is well-written and comprehensive. It is for a community block grant focused on youth development to expand services and cover staff salaries.

The Boys and Girls Club of America (BGCA): This is a sample produced by the national office of the BGCA to assist local branches in securing funds for youth programming and expanding services.

Successful Health-Related Grant Proposals

There is a large amount of funding for health-related initiatives, from healthcare grants to individuals, operational support for organizations or clinicians, and supporting researchers advancing the field. These sample grants give a bit of insight into this diverse sphere.

Centerville Community Center : Follow this link to read a grant to support community-based programming to raise awareness of cardiovascular disease prevention. This proposal does a great job of breaking down the project description, proposed activities, tracking measures, and timeline.

Prevention Plus Wellness : This is a sample grant proposal for nonprofit organizations to assist those looking to secure funds to address substance use and wellness programming for youth and young adults.

National Institute of Allergy and Infectious Disease (NIAID): The NIAID has released several examples of proposal applications and scientific research grant proposal samples that successfully secured funding for scientific research related to healthcare.

Other Successful Grant Proposals

Of the over 1.6 million nonprofit organizations in the United States , your funding requests may fall out of the three general categories described above. We have included additional grants that may help meet your diverse needs.

Kennett Area Senior Center : Submitted to a local community foundation, this proposal requests funding between the range of $1,000 to $10,000 to provide critical services and assistance to local seniors.

In addition to being very detailed in describing the program details it also carefully describes the problem to be addressed.

Region 2 Arts Council: This comprehensive grant proposal requests funds to support an artist to continue expanding their skills and professional experience. This is a useful example for individual grants or scholarships for professional or scholastic opportunities in supported fields.

St. Stephen’s Episcopal Church: This is an excellent example of a faith-based organization’s proposal to secure funds for a capital project to repair their building. The framing of this proposal and the language in the narrative can be used to help shape proposal letters to individual donors and to foundations, which can be especially useful for faith-based organizations or other groups looking to secure funds.

Tips to Get More Successful Grant Proposal Examples

If you are interested in finding more grant proposal examples, especially those directly related to your organization's priorities and service area, you can look at a few places.

1st: Foundation Websites

Sometimes a foundation will include past proposal submissions publicly on the website. These are especially useful if you are seeking grants from the organization. You can see exactly what kind of proposals they found compelling enough to fund and see if there are any trends in their structure or language.

2nd: Online Tools and Workshops

Sites like the Community Tool Box or Non-Profit Guides offer free online resources for organizations working to support healthier communities and support social change. They provide helpful advice for new nonprofits and provide a whole suite of sample grants to help you start winning grants step by step.

You may also be able to ask other members of the Instrumentl community for their past successful grant proposals by attending our next live workshop. Hundreds of grant proposals attend these every few weeks. To RSVP, go here .

3rd: Collect your own! 

As you start submitting grants, you are also creating a collection of sample grants tailored to your subject area. Every response offers an invaluable learning opportunity that can help you strengthen your grant writing skills.

Perhaps there are similarities among proposals that do exceptionally well. If a submission is rejected, ask for feedback or a score breakdown. Then, you may be able to see what areas need improvement for the future. Read our post on grant writing best practices for more on how to evaluate your past proposals.

Wrapping Things Up: Successful Grant Proposal Examples

Grant writing is a skill that anyone can learn. And as you begin to build your skills and prepare to write your next proposal, let these examples of successful grant proposals act as a guide to successful grant writing. Don’t however mistake a useful example as the ultimate guide to winning a grant for your organization.

Make sure to keep your unique mission, vision, and voice in the proposal!

Are you ready to get started? ‍

Try Instrumentl free for 14-days now to start finding funders that fit your organization’s needs. Our unique matching algorithm will only show you active open grant opportunities that your nonprofit can apply for so you can start winning more grant funding.

Instrumentl's Tracker makes saving all your grant proposals to one place easy and encourages more collaboration across your team. To get started, click the button below.

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Grant Writing Business Plan Template & Guidebook

Are you starting a grant writing business and looking for resources to help you get off the ground? Look no further than The #1 Grant Writing Business Plan Template & Guidebook! This comprehensive guide will walk you through the process of developing a successful business plan for your grant writing venture so you can get started on operating a successful business.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Grant Writing Business [11 Steps]

How to Write a Grant Writing Business Plan in 7 Steps:

1. describe the purpose of your grant writing business..

The first step to writing your business plan is to describe the purpose of your grant writing business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a grant writing business:

Our mission at Grant Writing LLC is to provide our clients with the highest quality grant writing services to enable them to secure funding for their projects and initiatives. We strive to create successful grant plans that get results, and ensure our clients have the resources needed to make their visions a reality.

2. Products & Services Offered by Your Grant Writing Business.

The next step is to outline your products and services for your grant writing business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your grant writing business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your grant writing business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your grant writing business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a grant writing business?

Equipment: Computer with internet access, printer, scanner, office supplies. Supplies: Documents like business contracts and invoices plus software for researching grants, writing, editing and formatting proposals. Permits: Depending on the state or municipality that the business is located in, permits may be required. Consult a local business attorney or government agency to determine if any are needed.

5. Management & Organization of Your Grant Writing Business.

The second part of your grant writing business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your grant writing business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Grant Writing Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a grant writing business varies based on many different variables, but below are a few different types of startup costs for a grant writing business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your grant writing business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your grant writing business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your grant writing business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Grant Writing Business Plans:

Why do you need a business plan for a grant writing business.

A business plan for a grant writing business is essential to detail the objectives of the company and develop strategies to reach those objectives. It will also help identify potential funding sources, market needs, and track progress. Additionally, a business plan can provide potential investors or lenders with insights into the integrity and potential of a grant writing business.

Who should you ask for help with your grant writing business plan?

It is advised to seek help from experienced grant writers, business consultants, and financial advisors. These professionals can provide helpful advice and insight on how to structure your business plan, assess the viability of your ideas, develop a budget, and understand the requirements of the grant process. Additionally, local small business development centers (SBDCs), Small Business Administration (SBA) offices, and Chamber of Commerce chapters may offer assistance with developing a business plan.

Can you write a grant writing business plan yourself?

Yes, it is possible to write a grant writing business plan yourself. However, it is important to be knowledgeable about the specific needs of the grantor, budgeting, and the application process in order to ensure success. Researching and consulting with experts may be helpful in developing an effective plan.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

• About Grants
• How to Apply - Application Guide

Samples: Applications, Attachments, and Other Documents

As you learn about grantsmanship and write your own applications and progress reports, examples of how others presented their ideas can help. NIH also provides attachment format examples, sample language, and more resources below.

On This Page:

Sample Grant Applications

Nih formats, sample language, and other examples.

With the gracious permission of successful investigators, some NIH institutes have provided samples of funded applications, summary statements, and more. When referencing these examples, it is important to remember:

• The applications below used the form version and instructions that were in effect at the time of their submission. Forms and instructions change regularly. Read and carefully follow the instructions in your chosen funding opportunity and the Application Guide .
• The best way to present your science may differ substantially from the approaches used in these examples. Seek feedback on your draft application from mentors and others.
• Talk to an NIH program officer in your area of science for advice about which grant program would be a good fit for you and the Institute or Center that might be interested in your idea.
• Samples are not available for all grant programs. Because many programs have common elements, the available samples can still provide helpful information and demonstrate effective ways to present information.

National Institute of Allergy and Infectious Diseases (NIAID)

• Sample Applications and Summary Statements (R01, R03, R15, R21, R33, U01, SBIR, STTR, G11, K, and F)
• NIAID Sample Forms, Plans, Letters, Emails, and More

National Cancer Institute (NCI)

• Behavioral Research Grant Applications (R01, R21, R03)
• Cancer Epidemiology Grant Applications (R01, R21, R03, R37)
• Cancer Control and Population Sciences Grant Applications (R01, R21, R37)
• Healthcare Delivery Research Grant Applications (R01, R03, R21, R50)

National Human Genome Research Institute (NHGRI)

• ELSI Applications and Summary Statements and biosketches (K99/R00, K01, R01, R03, and R21)
• NHGRI Sample Consent Forms

National Institute on Aging (NIA)

• K99/R00: Pathway to Independence Awards Sample Applications
• NIA Small Business Sample Applications (SBIR and STTR Phase 1, Phase 2, and Fast-Track)

National Institute on Deafness and Other Communication Disorders (NIDCD)

• Research Project Grants (R01) Sample Applications and Summary Statements
• Early Career Research (ECR) R21 Sample Applications and Summary Statements
• Exploratory/Developmental Research Grant (R21) Sample Applications and Summary Statements

NIH provides additional examples of completed forms, templates, plans, and other sample language for reference. Your chosen approach must follow the instructions in your funding opportunity and the Application Guide .

• Application Format Pages
• Annotated Form Sets
• Animal Document Samples from Office of Laboratory Animal Welfare (OLAW) for animal welfare assurances, study proposals, Memorandum of Understanding , and more
• Allowable Appendix Materials Examples
• Authentication of Key Biological and/or Chemical Resources Plan Examples
• Biosketch Format Pages, Instructions, and Samples
• Data Management and Sharing (DMS) Plan Samples
• Informed Consent Example for Certificates of Confidentiality
• Informed Consent Sample Language for secondary research with data and biospecimens and for genomic research
• Model Organism Sharing Plans
• Multiple PI Leadership Plan Examples
• Other Support format page, samples, and instructions
• Scientific Rigor Examples
• Person Months FAQ with example calculations
• Plain Language Examples for application title, abstract, and public health relevance statements
• Project Outcome Description Examples for interim or final Research Performance Progress Report (RPPR)

This page last updated on: February 7, 2024

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550+ Business Plan Examples to Launch Your Business

Need help writing your business plan? Explore over 550 industry-specific business plan examples for inspiration.

Find your business plan example

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View all sample business plans

Example business plan format

Before you start exploring our library of business plan examples, it's worth taking the time to understand the traditional business plan format . You'll find that the plans in this library and most investor-approved business plans will include the following sections:

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. You should also plan to write this section last after you've written your full business plan.

Your executive summary should include a summary of the problem you are solving, a description of your product or service, an overview of your target market, a brief description of your team, a summary of your financials, and your funding requirements (if you are raising money).

Products & services

The products & services chapter of your business plan is where the real meat of your plan lives. It includes information about the problem that you're solving, your solution, and any traction that proves that it truly meets the need you identified.

This is your chance to explain why you're in business and that people care about what you offer. It needs to go beyond a simple product or service description and get to the heart of why your business works and benefits your customers.

Market analysis

Conducting a market analysis ensures that you fully understand the market that you're entering and who you'll be selling to. This section is where you will showcase all of the information about your potential customers. You'll cover your target market as well as information about the growth of your market and your industry. Focus on outlining why the market you're entering is viable and creating a realistic persona for your ideal customer base.

Competition

Part of defining your opportunity is determining what your competitive advantage may be. To do this effectively you need to get to know your competitors just as well as your target customers. Every business will have competition, if you don't then you're either in a very young industry or there's a good reason no one is pursuing this specific venture.

To succeed, you want to be sure you know who your competitors are, how they operate, necessary financial benchmarks, and how you're business will be positioned. Start by identifying who your competitors are or will be during your market research. Then leverage competitive analysis tools like the competitive matrix and positioning map to solidify where your business stands in relation to the competition.

Marketing & sales

The marketing and sales plan section of your business plan details how you plan to reach your target market segments. You'll address how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.

The operations section covers the day-to-day workflows for your business to deliver your product or service. What's included here fully depends on the type of business. Typically you can expect to add details on your business location, sourcing and fulfillment, use of technology, and any partnerships or agreements that are in place.

Milestones & metrics

The milestones section is where you lay out strategic milestones to reach your business goals.

A good milestone clearly lays out the parameters of the task at hand and sets expectations for its execution. You'll want to include a description of the task, a proposed due date, who is responsible, and eventually a budget that's attached. You don't need extensive project planning in this section, just key milestones that you want to hit and when you plan to hit them.

You should also discuss key metrics, which are the numbers you will track to determine your success. Some common data points worth tracking include conversion rates, customer acquisition costs, profit, etc.

Company & team

Use this section to describe your current team and who you need to hire. If you intend to pursue funding, you'll need to highlight the relevant experience of your team members. Basically, this is where you prove that this is the right team to successfully start and grow the business. You will also need to provide a quick overview of your legal structure and history if you're already up and running.

Financial projections

Your financial plan should include a sales and revenue forecast, profit and loss statement, cash flow statement, and a balance sheet. You may not have established financials of any kind at this stage. Not to worry, rather than getting all of the details ironed out, focus on making projections and strategic forecasts for your business. You can always update your financial statements as you begin operations and start bringing in actual accounting data.

Now, if you intend to pitch to investors or submit a loan application, you'll also need a "use of funds" report in this section. This outlines how you intend to leverage any funding for your business and how much you're looking to acquire. Like the rest of your financials, this can always be updated later on.

The appendix isn't a required element of your business plan. However, it is a useful place to add any charts, tables, definitions, legal notes, or other critical information that supports your plan. These are often lengthier or out-of-place information that simply didn't work naturally into the structure of your plan. You'll notice that in these business plan examples, the appendix mainly includes extended financial statements.

Types of business plans explained

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. To get the most out of your plan, it's best to find a format that suits your needs. Here are a few common business plan types worth considering.

Traditional business plan

The tried-and-true traditional business plan is a formal document meant to be used for external purposes. Typically this is the type of plan you'll need when applying for funding or pitching to investors. It can also be used when training or hiring employees, working with vendors, or in any other situation where the full details of your business must be understood by another individual.

Business model canvas

The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

The structure ditches a linear format in favor of a cell-based template. It encourages you to build connections between every element of your business. It's faster to write out and update, and much easier for you, your team, and anyone else to visualize your business operations.

One-page business plan

The true middle ground between the business model canvas and a traditional business plan is the one-page business plan . This format is a simplified version of the traditional plan that focuses on the core aspects of your business.

By starting with a one-page plan , you give yourself a minimal document to build from. You'll typically stick with bullet points and single sentences making it much easier to elaborate or expand sections into a longer-form business plan.

Growth planning

Growth planning is more than a specific type of business plan. It's a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, forecast, review, and refine based on your performance.

It holds all of the benefits of the single-page plan, including the potential to complete it in as little as 27 minutes . However, it's even easier to convert into a more detailed plan thanks to how heavily it's tied to your financials. The overall goal of growth planning isn't to just produce documents that you use once and shelve. Instead, the growth planning process helps you build a healthier company that thrives in times of growth and remain stable through times of crisis.

It's faster, keeps your plan concise, and ensures that your plan is always up-to-date.

Download a free sample business plan template

Ready to start writing your own plan but aren't sure where to start? Download our free business plan template that's been updated for 2024.

This simple, modern, investor-approved business plan template is designed to make planning easy. It's a proven format that has helped over 1 million businesses write business plans for bank loans, funding pitches, business expansion, and even business sales. It includes additional instructions for how to write each section and is formatted to be SBA-lender approved. All you need to do is fill in the blanks.

How to use an example business plan to help you write your own

How do you know what elements need to be included in your business plan, especially if you've never written one before? Looking at examples can help you visualize what a full, traditional plan looks like, so you know what you're aiming for before you get started. Here's how to get the most out of a sample business plan.

Choose a business plan example from a similar type of company

You don't need to find an example business plan that's an exact fit for your business. Your business location, target market, and even your particular product or service may not match up exactly with the plans in our gallery. But, you don't need an exact match for it to be helpful. Instead, look for a plan that's related to the type of business you're starting.

For example, if you want to start a vegetarian restaurant, a plan for a steakhouse can be a great match. While the specifics of your actual startup will differ, the elements you'd want to include in your restaurant's business plan are likely to be very similar.

Use a business plan example as a guide

Every startup and small business is unique, so you'll want to avoid copying an example business plan word for word. It just won't be as helpful, since each business is unique. You want your plan to be a useful tool for starting a business —and getting funding if you need it.

One of the key benefits of writing a business plan is simply going through the process. When you sit down to write, you'll naturally think through important pieces, like your startup costs, your target market , and any market analysis or research you'll need to do to be successful.

You'll also look at where you stand among your competition (and everyone has competition), and lay out your goals and the milestones you'll need to meet. Looking at an example business plan's financials section can be helpful because you can see what should be included, but take them with a grain of salt. Don't assume that financial projections for a sample company will fit your own small business.

If you're looking for more resources to help you get started, our business planning guide is a good place to start. You can also download our free business plan template .

Think of business planning as a process, instead of a document

Think about business planning as something you do often , rather than a document you create once and never look at again. If you take the time to write a plan that really fits your own company, it will be a better, more useful tool to grow your business. It should also make it easier to share your vision and strategy so everyone on your team is on the same page.

Adjust your plan regularly to use it as a business management tool

Keep in mind that businesses that use their plan as a management tool to help run their business grow 30 percent faster than those businesses that don't. For that to be true for your company, you'll think of a part of your business planning process as tracking your actual results against your financial forecast on a regular basis.

If things are going well, your plan will help you think about how you can re-invest in your business. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast. Either way, tracking your progress compared to your plan can help you adjust quickly when you identify challenges and opportunities—it's one of the most powerful things you can do to grow your business.

Prepare to pitch your business

If you're planning to pitch your business to investors or seek out any funding, you'll need a pitch deck to accompany your business plan. A pitch deck is designed to inform people about your business. You want your pitch deck to be short and easy to follow, so it's best to keep your presentation under 20 slides.

Your pitch deck and pitch presentation are likely some of the first things that an investor will see to learn more about your company. So, you need to be informative and pique their interest. Luckily we have a round-up of real-world pitch deck examples used by successful startups that you can review and reference as you build your pitch.

For more resources, check out our full Business Pitch Guide .

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22+ SAMPLE Small Business Grant Proposal in PDF | MS Word | Google Docs | Apple Pages

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1. assess your business plan, 2. conduct a research on the grant program, 3. draft the proposal, 4. go through the important elements, 5. iron out any mistakes, 6. conclude the proposal, share this post on your network, file formats, word templates, google docs templates, excel templates, powerpoint templates, google sheets templates, google slides templates, pdf templates, publisher templates, psd templates, indesign templates, illustrator templates, pages templates, keynote templates, numbers templates, outlook templates, you may also like these articles, 25+ sample construction company proposal in ms word.

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