The ROI of Grant Writing
In my recent TEDx Talk, I talked about the Real ROI of Grant Writing. In the business world, ROI means Return on Investment, but it’s a different mindset in the world of grants. We’re talking about a Return on Impact. In today’s podcast episode, I’ll tell you more about the R in the ROI of grant writing and how knowing this can save you frustration and time so you can write more proposals.
What is the ROI Framework?
Funders need to know they will get a Return on Impact for investing in your nonprofit. This means you need to convince the funder that your nonprofit is Relevant, Optimized, and Interacting in meaningful ways.
5 Steps to Evaluate Relevance
One question I wish more nonprofits would consider is, “How do I know if my organization is relevant?” I recommend the following five steps to determine if and how your organization is relevant to the community, the funders, and the grants you are applying for:
- Determine if organization is truly relevant in the community.
Take a critical look at your mission and goals to evaluate if you are serving a real need in the community. Make sure you have the statistics and testimonials to back up your mission statement. If necessary, go back and define your goals more closely. - Analyze if your organization is relevant to the funder’s mission and goals.
Make sure you are applying to funders whose mission and goals align with yours. There are consequences to both your organization and the funder if you just chase the money.
Now that you’ve determined your organization is relevant in the community, and your mission is relevant to the funders, the next step is to find relevant grants.
- Avoid irrelevant research.
Research can be fun, but there are millions of grants and many ways to search. Don’t get lost in the never-ending grant search rabbit trail. You don’t need ALL the grants; you just need to find the good-fit grants. - Balance research with action by evaluating relevance.
At some point you just need to stop researching and take action. Stay focused on your core goals, search for the most relevant grantmakers, and then apply for the best fit. - Apply for the most relevant grants.
You don’t have the time or resources to apply for every opening, nor do you even need all the grants. Grant research is a process that takes time.
That’s it! These five steps will help make sure your time and energy are spent on winning relevant grants. To learn more about each step, listen to today’s podcast. To understand how to give funders the full return on impact through your organization, watch and share my TEDx Talk, The Real ROI of Grant Writing.
Challenge Question:
Do you need to narrow your focus? Are you clear on what that is?
Find out about how to give nonprofits the ROI they are looking for in my TEDx Talk on YouTube and share it with your colleagues!
If you need help, book a 1:1 strategy session with me at teresahuff.com/mentor. The world needs you out there making a difference!
Connect with me over on LinkedIn or send me a message. And if you need more support, join me on the Fast Track to Grant Writer already and let’s get you moving!
Free Audit: How Grant-Ready Is Your Nonprofit?
Are you feeling overwhelmed with trying to help your nonprofit apply for grants? Go through the free audit and I’ll help you sort out the next steps for your organization.
Do You Have What It Takes to Be a Grant Writer? Take the Quiz:
If you’re ready to explore a career in grant writing, take my free quiz, “Do you have what it takes to be a grant writer?” People are always surprised at how many skills they already have. The distance isn’t as far as they thought. Let’s figure out how you can use your skills to help change your world.
If you’re ready to step up your nonprofit game in 2022, join me on the Fast Track to Grant Writer. The world needs you.
Resources Mentioned:
- Go to MyEasyGrant.com to find, cultivate, and apply to relevant foundations using Easy Grant by Sparrow Nonprofit Solutions.
- Watch and share my TEDx Talk: The Real ROI of Grant Writing