To begin with, goals are more general. They are abstract and broad in nature.  Goals touch on a broad spectrum by describing the program’s intentions.  They also provide a higher context of who and what you intend to reach. You must clearly identify your goals to the funding agency, because this is how they will know and understand what you want to accomplish with the funds you are requesting from them. Goals define for your reviewer a general sense of the direction where your program is headed.

On the other hand, objectives are the framework for how you will accomplish your goals. They support your goals by describing the specifics of your proposed program. For example, if your program will provide direct services to youth who are underserved, then each objective under that goal should clearly explain to the funding agency the following:

1. Who will be involved;
2. What tasks will be achieved; and,
3. By when will you accomplish these activities.

An objective is precise and concrete. It is also narrow in scope by giving, for instance, a specific number or percentage of the population to be reached and a measurable timeline. Your objectives will, therefore, strengthen your goals by providing a clear description of the road map you will follow.

A strategy that Guide to Grants Plus [www.GuidetoGrantsPlus.com] recommends for a highly successful grant application is to connect your goals and objectives to your budget. Your line items should reflect the course that you set out for your program during the lifetime of the grant. Always remain on course throughout your grant application narrative and tie it back to your budget. In other words, be consistent. Reviewers look for inconsistencies throughout your proposal. Build a cohesive proposal strong enough to withstand the rigorous review process. Your goal is to get funded!

Author: Elizabeth Eguia-Garcia

CEO & President

Guide to Grants Plus (c) 2010 All Rights Reserved.

BUSINESS PLAN OUTLINE

Cover Sheet: Business Name, Address, Phone Number, Principals

Executive Summary

Table of Contents

Section One: The Business

A. Description of Business

B. Products/Services

C. Market Analysis

D. Marketing Plan

E. Location

F. Competition

G. Management and Operations

H. Personnel

I. Application and Effect of Loan or Investment

Section Two: Financial Data

A. Projected Financial Statements

Income Statements

Cash Flow Statements

Balance Sheets

Assumptions to Projected Financial Statements

B. Break Even Analysis

C. Sources and Uses of Funds

Section Three: Supporting Documents Historical financial statements,

tax returns, resumes, reference letters, personal financial statements,

facilities diagrams, letters of intent, purchase orders, contracts, etc.

# # #

ACKNOWLEDGEMENTS:

With deep appreciation, I wish to thank the following individuals and groups:

Cristina Lopez, President

Cheryl Aguilar, Marketing Manager

National Hispana Leadership Institute

www.nhli.org

Alejandro Maya, President & Producer

Sprocket Productions

www.sprocketproductions.com

Amy Serrano, Founder & Director

Hope, Courage and Justice Project

Jennifer Navarrete, Social Media Entrepreneur

Brewing Media

and also

MillerCoors, Corporate Sponsor of NHLI

The University of Texas at San Antonio’s Institute of Economic Development

South Texas Women’s Small Business Center

Elizabeth Eguia-Garcia, CEO/President

Guide to Grants Plus

Q: At what phase would one seek help from your firm [before the composition of a business plan or once a draft is in place?] [Q: 1:40 PM]

Elizabeth: I am a writer. I can be of assistance to business owners in the writing and editing process. I highly recommend that an entrepreneur research what the local community has to offer. There are so many local trainings and resources available as well as the internet.  I am happy to consult with anyone who wishes to talk more about what my company has to offer.

Q: Congratulations Eli, you are impressive. Your hermana Ana Maria [Q: 1:41 PM]

Elizabeth: Hello Ana Maria! Thank you for tuning in today! I’m looking forward to reconnecting at the NHLI conference in November. Wishing you the best life has to offer!

Q: how hard iis it now to get the money you need for your organization considering the economic crisis [Q: 1:41 PM]

Elizabeth: If you are asking about my business, it is revenue-making and based on my capacity to secure clients. As for fundraising during the economic crisis, foundations are still giving. The difference today is that there are more needs in the community and less resources to distribute.  It has gotten tougher to secure funding, but it is still possible! You must present a strong enough case and truly be able to back up your grant applications for the funding agency. I have been able to secure grants for non-profits even during this economic climate by being strategic and thinking outside the box.

Q: Where can we find your blog to obtain a copy of the presentation? [Q: 1:43 PM]

Elizabeth: I will be posting a series created from my presentation on my future blog posts. Thanks for asking.

Q: How long does it take to deveolp a business plan?

Elizabeth: I can share with you that it took me three months to develop it in a way that I felt more comfortable with it. I had my computer crash as I was mid-point. I lost my market research.  Yes, really, I lost all of the research components that I had already plugged into the business plan. I started writing it over again and felt more confident with the newer and fresher version.  Anything can happen. It’s what we do with the experience that counts. Don’t give up on your dream!

Q: ARE YOU ABLE TO HELP COLLEGE/UNIVERSITY STUDENT GROUPS WITH GRANT FUNDING FOR ON CAMPUS PROJECTS? IF SO, ARE THEIR FEES ASSOCIATED WITH THIS SERVICE? [Q: 1:44 PM]

Elizabeth: Most colleges and universities will have a grants department. I would encourage college students to first touch base with them.  I would be happy to consult with any group or organization that had any additional questions. Guide to Grants Plus does a needs assessment and initial client meeting to see what the extent of assistance is being requested. So, it is best to set up an initial meeting to go over the needs.

Q: Can you speak more about your digital business card?  What is that like and how do you market it? [Q: 1:46 PM]

Elizabeth: The Digital Business Card (DBC) is a proprietorship of Sprocket Productions. I collaborated with this company in order to create my DBC.  The DBC is a digital resume which allows me to show what my consulting firm has to offer my prospective clients. I highly recommend it as one of the tools of marketing your business and what you have to offer others.

Q: what kind of clients do you have? [Q: 1:48 PM]

Elizabeth: My client-base is mostly non-profits and educational institutions.

Thank you for participating in the Guide to Grants Plus Webinar!

Q: DID YOU SAY THAT YOU SPECIALIZE IN EDUCATION GRANTS?[Q: 1:40 PM]

Elizabeth: Yes, I have worked in the education sector for many years and have been able to secure education grants from technology infrastructure, programming, to capital improvements. The sources of funding secured range from federal, state, local, county and foundation grants.

Q: What if im a recent graduate from Communications, i would like to have my own editorial company some day. How do i find my niche of opportunity? Checking other editorials, magazines, books, blogs, newspapers? i have worked in two newspapers and a magazine as an intern mostly [Q: 1:40 PM]

Elizabeth: You are on the right course! Continue to immerse yourself in the industry of your choice which happens to be the same as mine, Communications.  Explore the possibility of finding a good mentor to teach you the ropes. Make it someone who you respect, admire and feel comfortable enough with to develop a friendship that will help you learn how to establish yourself. Sounds like you are interested in print media. Enter into the sector and build your support system within the field or as we say in business, build your network. Your internship is a plus! Wishing you success!

Q: What advice would you give to someone who wants to start their own online business (creating and selling items)? Any resources I can look into? [Q: 1:40 PM]

Elizabeth: The online retail business is competitive because more and more companies are utilizing the internet, but it doesn’t necessarily mean that they are doing it effectively. Learn who your competitors will be. Take them out to lunch and talk to them about how they got started or research them to get better informed. Ask yourself, “What will make my company unique?” Take the concept to another level. Your internet presence will need to stand out among others, but do it in a way that is “real” and truly reflects the mission of your business.

Q: how do you get money to start  you non profit without relying on loans? [Q: 1:40 PM]

Elizabeth: Actually, to begin a non-profit you can apply for “grants” which are not loans.  If you have a 501 (c) (3) tax exemption, you can apply for grants through foundations and other funding agencies.  A loan, however, is important for businesses that need start up costs covered by a lending agency and/or need to expand their business.  A business is by definition a “for profit” entity and follows different tax guidelines than the non-profit sector.

Answers to other questions will continue in next blog. Thank you!

Latina Entrepreneurs: Opening Your Own Business

Facilitated by Elizabeth Eguia-Garcia, NHLI 2004 alumna
Founding Chief Executive Officer of Guide to Grants Plus

Wednesday, September 29 at 12:00 p.m. (central) / 1:00 p.m. (east)

Click here to register. Space is limited. Cost is free.

Women own 70% of small businesses in the United States and Latinas are starting businesses at 6 times the national average, which means that over 750,000 businesses are owned by Latinas.

You as a Latina have the potential to start and run a successful business. By applying your entrepreneurial valuable skills and knowledge you can become a successful Latina entrepreneur.

Latina entrepreneurs will discover effective methods and techniques for starting and growing a business. Examples will be provided of how to go from an idea to charting your course with a business plan; and how to effectively use the internet, social media and social networking to start and grow your own business.

The Webinar will be followed with an online discussion at www.GuidetoGrantsPlus.com/blog.

Join and subscribe in advance!

REGISTER: https://www2.gotomeeting.com/register/915422755

or  VISIT: www.nhli.org/webinars