Funding Sources – Grant Opportunities
Whenever you begin a business you assume the risk of losing money. Not because you are irresponsible but because you must be your first investor. This is your vision, your dream, your business. No one owes you anything, however, we all know that help financially is greatly appreciated and needed. Your first line of financial support should come from your personal savings and investments. That is determined based on your previous life choices and circumstances. Next, would be to consider investments from community organizations you may be a part of or connected to. We all love the idea of grants and I won’t lie and say there are none but they are not easy to obtain or come by. Many are like scholarships because they are very specific and can be a limited pool of accepted applications. Always apply if you are eligible but just like starting a business, it will take work. Grants oftentimes require and ask for specific information such as target audience, proof of a media presence, and projected earnings. Donations from supporters, family, and friends are always great but also can sometimes be hard to come by. Everyone will not believe or support your vision the same way you do, and that’s okay. Accept donations but do not hang your hat on this as a main source of revenue. Our main goal is to create consistency through tuition from enrolled students and this will take time. Be open to starting off small, one student will turn into two and two into three. It is important to research and explore each funding option and consider the specific needs and goals of your micro school before making a decision on the best funding strategy.
Check out VELA for a microgrant opportunity. Many of our microschool builders have already received this grant!
Leave a Comment