There are many ways to raise funds to start a new business venture. You can bootstrap it and invest your own money. Take on debt financing by getting a load from a bank with high interest fees or raise money through venture capital investments.
One often overlooked, and less sexy way to raise money is through applying for grants.
While grants may be synonymous with academic work, some exist to support certain industries, demographics or particular types of projects.
Grants also come with lots of hoops to jump through, oftentimes in the form of rigorous grant proposals that need to be well written.
One area of some grant proposals is the marketing section that delves into how you plan on connecting and marketing your product or service to potential customers. Grant reviewers want to see that you have thoroughly thought through and planned not just the product you are going to develop but how you plan on bringing it to the market.
Listen below to learn how to successfully complete this section of a grant application.