Even the best idea in the world will wither into oblivion in the absence of capital. While some businesses have funds to implement part of their ideas, the market recognizes the existence of others who require 100 percent project funding. However, this is cash that belongs to other entities and is never free for everyone who needs it. You need a proposal and plan that is captivating and compelling.
The conditions given to get funds from any organization or individual vary. You may be required to give up part of your equity which changes the administration and management structure. Your future cash flow may also be affected until a point where the capital invested is recovered. In other cases, you enjoy interest rates that are more lenient compared to what commercial banks offer.
Most project proposals are not funded because of several reasons. Only a proposal that is compelling will receive funding. Should the investor feel that you do not understand the industry or problem you are attempting to solve, he has sufficient grounds to reply with a regret. Some solutions are also unbelievable. For some, budgets get inflated or the plan shows weaknesses in expertise required to implement the project.
What considerations should you make when drafting your proposal? The primary purpose of a proposal is to plead your case before the panel or decision maker. Such a panel requires a crisp, clean and accurate proposal. The narrative must be very persuasive and impress the reader. Remember to politely request for money. Any promises you make must be realistic ensuring that your promises can be fulfilled.
A lot of vetting takes place before proposals are approved. During vetting numerous proposals are discarded. One of the reasons for getting a regret despite having an excellent idea is failure to follow procedure or instructions. These instructions include sticking to the submission deadline, omitting crucial sections, falling short of words, failure to include financial statements, etc. Failure to meet basic requirements will lead to immediate dismissal.
The idea that simple is elegant also applies to funding. Organizations and financiers receive thousands of proposals. They would avoid wasting time on proposals that are too wordy. Go through your proposal eliminating all redundant sections and words. Begin with a summary that captures the entire idea in a few words. Make it so interesting that the reader feels the urge to peruse beyond the executive summary. While avoiding a lot of repetition, do no omit crucial details that plead your case to the financier.
Before making any proposal, you must know your figures. Investors understand a lot and have access to information on industries they seek to invest. Research thoroughly and only present figures and facts that are verifiable. Know the rates of returns, your competition, market projection, etc. This shows competence and understanding of your area of operation.
Time is a determinant of availability of funds. Organizations and financiers set a window period to receive proposals. Any proposal that is not received within this period is disregarded. Know the period it takes to reply so that you do not wait in vain. Adopt the right structure, formatting, dates and ensure that you submit it on time. Be detailed, clear and articulate in making your request.
The conditions given to get funds from any organization or individual vary. You may be required to give up part of your equity which changes the administration and management structure. Your future cash flow may also be affected until a point where the capital invested is recovered. In other cases, you enjoy interest rates that are more lenient compared to what commercial banks offer.
Most project proposals are not funded because of several reasons. Only a proposal that is compelling will receive funding. Should the investor feel that you do not understand the industry or problem you are attempting to solve, he has sufficient grounds to reply with a regret. Some solutions are also unbelievable. For some, budgets get inflated or the plan shows weaknesses in expertise required to implement the project.
What considerations should you make when drafting your proposal? The primary purpose of a proposal is to plead your case before the panel or decision maker. Such a panel requires a crisp, clean and accurate proposal. The narrative must be very persuasive and impress the reader. Remember to politely request for money. Any promises you make must be realistic ensuring that your promises can be fulfilled.
A lot of vetting takes place before proposals are approved. During vetting numerous proposals are discarded. One of the reasons for getting a regret despite having an excellent idea is failure to follow procedure or instructions. These instructions include sticking to the submission deadline, omitting crucial sections, falling short of words, failure to include financial statements, etc. Failure to meet basic requirements will lead to immediate dismissal.
The idea that simple is elegant also applies to funding. Organizations and financiers receive thousands of proposals. They would avoid wasting time on proposals that are too wordy. Go through your proposal eliminating all redundant sections and words. Begin with a summary that captures the entire idea in a few words. Make it so interesting that the reader feels the urge to peruse beyond the executive summary. While avoiding a lot of repetition, do no omit crucial details that plead your case to the financier.
Before making any proposal, you must know your figures. Investors understand a lot and have access to information on industries they seek to invest. Research thoroughly and only present figures and facts that are verifiable. Know the rates of returns, your competition, market projection, etc. This shows competence and understanding of your area of operation.
Time is a determinant of availability of funds. Organizations and financiers set a window period to receive proposals. Any proposal that is not received within this period is disregarded. Know the period it takes to reply so that you do not wait in vain. Adopt the right structure, formatting, dates and ensure that you submit it on time. Be detailed, clear and articulate in making your request.
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