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Getting Free Grant Money Determining Your Start Up Costs

 


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Getting approved for free grant money is not impossible if you know the steps that are involved and you're willing to do a little leg work. I'll help you out with a few quick suggestions, but I strongly recommend you look at the link to the ebook found in the resource box at the end of this article. It's one of the most comprehensive products on the market and you'll want to get it before you start applying for free grant money.

It's going to cost some money to get started (and that's why you're looking for free grant money!). The grant source is going to want to know your overall budget and just how much you're requesting. Keep your expenses real and resist the temptation to inflate them just to get more money. You can “pad" your expenses a little to allow room for cuts, but don't overdo it.

When creating your budget you'll want to include line items like office rent, equipment or tools, any furniture, legal or consultation fees, licensing if necessary, phone, fax and Internet, any business taxes, and advertising/marketing expenses. Getting free grant money doesn't mean you can just spend it on anything. Treat it as if it were coming out of your own pocket!

After creating your initial budget you may realize that some expenses need trimmed or cut. If so, it's alright to start small and grow as the money is more readily available. There is competition for free grant money, so be prepared to adjust costs if necessary. Are you able to work from home for awhile until you can afford an office? See if a friend has space in their garage you can borrow. Don't think you need a fancy office from the start. Meet potential grant sources at a restaurant for a meeting or partner with another business that will let you use space for free. I know an IT consultant that worked out a deal where he offers one one day a week of his services in exchange for office space. The client rarely uses him and he has access to the meeting room, a private office and a bunch of other perks. Be creative - the possibilities are endless.

To cut labor expenses find ways to get the work done without hiring anyone, even if you have to do it yourself at first. You won't want to keep doing everything as your business grows, but it will allow you to understand the work flow. This can give valuable insight on how to lower expenses. You can also work out internship agreements with local colleges. Students often are willing to forego a paycheck to get valuable resume experience, so don't rule this out. Just make sure you keep the same rules you would for hiring someone for pay, but don't be as picky.

Using temp agencies is also a cost effective way to get short term help fairly inexpensively. You can pay for labor as needed without having to understand tax laws or workers comp laws and still get quality help. Just let the agency know the specifics of what you're looking for, and they do all the work for you! You may even find someone who has found free grant money for other people.

Be flexible during the process and look for chances to learn from other businesses who have been through the same process. And don't forget the free report in the resource box - it will be a valuable blueprint as you build your business from free grant money.

Business and Internet marketing consultant Bill Tyehlaw is a friend to many small to midsized business looking to get a competitive edge. His books, articles and live workshops are client focused and are designed to get immediate results. The free special report Free Grant Money Secrets can be found at http://www.free-grant-money.us

Want to contact the author? Email him at bill@theinternetworkshop.com

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