A wise person once said, “Experience is the best teacher.” After years of securing grant funding, we can confirm it’s true. We at Digital Marketing Maven have been asked countless times about finding and securing grants.
After receiving various grants, we wanted to share our entrepreneurial spirit and connect with other small business grant winners. Erica Davis and Saria Hawkins-Banda are two successful businesswomen we respect and admire. With us three combined, we’ve secured over $200K in grants. We’ve built thriving businesses and are passionate about sharing our knowledge with you.
Today, we’re sharing practical and actionable tips to help you access grant opportunities aka, free money to grow your business! Below, you’ll find grant funding resources from Maven University, and a recorded grant funding seminar featuring Maven University founder, Sammi Bivens, Annie Admin founder, Erica Davis, and Manifest Your Purpose founder, Saria Hawkins-Banda.
Ready to receive grant funding? Watch our free Get Grant Ready Workshop!
Why Are Grants Impactful for Small Businesses?
Grants offer a lifeline and provide funds without repayment terms. Beyond the money, grants often include added perks like mentorship, media exposure, and networking opportunities. For example, when Digital Marketing Maven founder Sammi Bivens placed third in the UPS Store 2021 Small Biz Challenge, she was featured in prominent publications like Inc Magazine, Essence, Sheen, and on the UPS store platforms.
The Challenges of Grant Funding for Minority-Owned Businesses
The reality is that small businesses, especially minority-owned and woman-owned, continually experience systemic challenges in accessing funding. “Black/African American women face significant challenges due to lower earnings and wealth. Even when deemed a low credit risk, Black-owned businesses are less likely to be fully funded. Moreover, they have smaller networks that can point them to resources” (Forbes).
But don’t let these statistics hold you back. With the right strategy, you can tap into the funding you need to turn your business dreams into reality.
How to Apply for Small Business Grants Successfully
Digital Marketing Maven’s Proven Strategies and Tips:
1. Familiarize Yourself with Funding Methods
Explore options like bootstrapping, loans, crowdfunding, and venture capital. If grants are your focus, dedicate your time and attention to finding grant funding.
2. Create a Compelling Brand Story
Clearly define your mission, target audience, and the problem your business solves. Let your passion shine through and ensure it aligns with your business goals. A strong brand story resonates with grant sponsors.
3. Know Your Numbers
Transparency is key. Understand and present your profit and loss, projections, and key performance indicators (KPIs). Sponsors trust businesses that are prepared and show financial responsibility. Use tools like our free New Business Checklist to stay on track.
4. Prepare a Strategic Budget
Detail how you’ll use grant funds, whether it’s for marketing, hiring, product development, etc. Avoid mentioning debt repayment; sponsors want to invest in growing businesses.
5. Build a Solid Foundation
Ensure your business is set up for success:
- Registered LLC
- EIN
- Professional website, email, and logo
Need help? Schedule a consultation with Digital Marketing Maven for expert support.
6. Utilize Google Alerts
Stay in the loop by setting alerts for grant opportunities, pitch competitions, and small business cohorts. This small step keeps you ahead of the game.
7. Stay Organized
Keep all key documents—LLC filings, tax returns, profit and loss statements, and business plans—in one folder for quick access during applications.
8. Create a Standout Pitch Video
A well-crafted video showcasing your accomplishments, funding plans, and the story behind your brand can make all the difference. Highlight community work, achievements, and your business’s purpose to stand out.
9. Repurpose Application Answers
Save and refine responses from previous applications to save time on future submissions. Download our Get Grant Ready Worksheet to prepare strong, reusable answers.
How to Secure Small Business Grants Today
Download the Grant Ready Worksheet for just $19.99
Speed up your grant application process with this easy-to-use grant and pitch competition worksheet. Pre-populated questions help you stay organized, as well as tools and strategies that help your business thrive.
What you’ll get:
- 25 Common Grant Application Questions
- Key Information to Track
- A Checklist of Necessary Documents
Take the Next Step with Digital Marketing Maven
Contact Digital Marketing Maven
Receive a more hands-on approach and custom marketing solutions tailored to your small business.
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Learn from successful entrepreneurs, connect with a network of small business owners, and access exclusive resources to grow your business.
Explore These Grant Resources
Tap into additional tools that will help you receive grant funding:
Thank you for these resources! Sometimes the application process can be overwhelming with these grants. This gives me a clear and straightforward plan on how to tackle this moving forward. Can’t say thank you enough. Keep it coming!
This info is so needed and encouraging to see!!! Too often women (especially women of color) don’t share their knowledge or resources to help other women become successful. Thanks for breaking down barriers in so many ways.
It’s encouraging to see ambitious & successful women of color share their experiences, offer advice and be incredibly supportive of each other & others. Thank y’all for empowering us & giving us the resources to secure the bag!!
This was so helpful! I’ve been holding on to this link because I knew this conversation would be valuable. So glad I took the time to watch this!