Monday, February 20, 2017

Advices On Getting R&D Grants

By Debra Thomas

Getting the sympathy of the public sector for your project is not a walk in the park. So, be sure that you are willing to do anything to get their approval by pointing these tips in mind. That is essential when you want to make an impression and communicate more easily with the next potential investors.

You would need to create different versions for your proposal. You may have good intentions for your R&D grants but remember that you are going to talk to people who have been critical all their life. Thus, know more about their respective backgrounds and create your plan from that information which you have gathered.

Have a business partner who can support and contradict you at the same time. Remember that not all of your strategies will work and your experience is still limited as of the moment. So, look for someone who can be as driven as you. Your project will need both of your passion to sustain all the criticism which you shall receive from other people.

After a main partner, get a legal counsel and an accountant as well. Let these people project how your business is going to be successful in the near future. When you start talking about numbers, that is when you have the full attention of these people. So, use their nature to your advantage and basically let them study the facts.

Be very diligent with your homework and come up with a realistic and robust financial model. Be able to put your feet into the shoes of these wealthy men. They would only want to listen to what you have to say if you can guarantee them of a greater amount of profit. Thus, get your figures right for you not to be put to shame.

You also have to consider the current run of the economy. If it is not doing good as of the moment, you should think about the timing of your proposal again. Do not enter something that will put a long list of debts to your name. Consult all the analysts you know and this can help you maintain your connections for future use.

Do not call these individuals for a follow up. Remember that they have their own businesses to manage. Give them enough to study about your proposal and that shows how good of a partner you can be. Nevertheless, it is not a crime to continue talking with other prospects as you wait for second meetings.

Keep your focus on the game. A few rejections is not the end of the world. So, simply widen your range of connections and alter some parts of your proposal to fit in the specifications of others.

Be practical with the concept that you are forming. If this can be used by a lot of people, you already have your market. So, spend months in polishing all the details and stop feeling pressured by most of your colleagues. Believe in perfect timing.

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