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Grant Writing Your Dreams True Guide
The First Step In Getting A Grant
Ever wonder what the first step in getting a grant
is? We're going to cover that in this article.
Determine Startup Costs
So let's say that, after analyzing the market, you come to the conclusion that
your idea will sell like hotcakes. But perhaps one factor that is standing in
your way is high start-up costs.
Start-up costs include things like paying for a place to work out of, buying all
the initial equipment, furniture, and tools necessary for the business to
operate, possibly legal fees and consultation fees, licensing fees,
communication fees for telephone and Internet services, taxes, buying raw
materials if you plan to manufacture a product, and marketing your new business
venture. When you start adding it all up, it can become a little daunting.
At this point you might need
to ask yourself if there is some way that you can maintain
the quality of your potential service or product, yet cut
some of the initial costs to start. This is when creativity
will come into play. Anyone who is rich can throw money at a
problem, but if you have a lack of funds, this will be the
impetus you will need to get creative and find other
solutions. (Not to mention that people pay big money for
creative ideas that lead to solutions to problems--that can
be a business in and of itself, if you have a talent for
it!) All viable businesses provide a solution to a client or
customer's problems. So, by thinking along these lines from
the start, you will be helping yourself greatly in the
One way to cut costs is to start small. Can you work out of
a room in your home, or a garage? You can avoid renting an
office or workspace for a while until you start making
money, which can help lower initial costs. You might not
ever need a brick and mortar office if you start an online
business or store. Get creative and consider as many
possibilities and options as you can so your business idea
Another method you can try is to figure out a way to do the
work by yourself in the beginning. This is not a bad way to
start, because you will want to know every aspect of how
your business runs, so you will want to work every job
yourself to see where all the strengths are, and where you
can improve on any weak areas. This can give you vital
information you will need to potentially lower costs,
improve productivity and increase the amount of money you
can make. Then, when you start making money you can hire
some employees to help you. It will also make it easier when
you have to train employees, because you will understand all
the requirements of every job your business must perform to
stay in business and how they interact with each other,
because you will have worked them all yourself.
Be certain to keep an open mind during the business planning
and start-up cost phase. Keep talking to other small
business people or a mentor who might have suggestions for
starting small and less expensively. Also remember that the
start-up costs will be offset by the revenue that your
business will generate, so over time you will break even and
then begin to make money from the business.
You now know that you need to determine the startup costs so
that you can decide which grants you should apply for to
meet that start up cost.
To find out more ways to
make money click here to see our full report!
You are minutes
away from being able start putting these new marketing ideas to
work for you. Our guide will
tell you everything you need to know!.
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