Getting Your Local Economic Development Funding Approved can be a Challenge if You have no or Little Experience in This!

Based on our 𝘌𝘹𝘦𝘤𝘶𝘵𝘪𝘷𝘦 𝘛𝘰𝘰𝘭𝘬𝘪𝘵 𝘧𝘰𝘳 𝘌𝘤𝘰𝘯𝘰𝘮𝘪𝘤 𝘋𝘦𝘷𝘦𝘭𝘰𝘱𝘦𝘳𝘴, here are key tips for success:

1️⃣ 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝘁𝗵𝗲 𝗣𝗿𝗼𝗰𝗲𝘀𝘀: Know your organization’s specific approval steps and delegation limits.

2️⃣ 𝗞𝗻𝗼𝘄 𝗬𝗼𝘂𝗿 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻-𝗠𝗮𝗸𝗲𝗿𝘀: Brief key individuals, identify champions, and address potential biases beforehand. “Pet projects” need to be respectfully challenged with evidence.

3️⃣ 𝗠𝗮𝘀𝘁𝗲𝗿 𝘁𝗵𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗮𝘀𝗲: A clear rationale, robust evidence, and a strong market failure statement are crucial.

4️⃣ 𝗣𝗿𝗲𝘀𝗲𝗻𝘁 𝗢𝗽𝘁𝗶𝗼𝗻𝘀 (Even “Do Nothing”): Show you’ve considered alternatives and clearly justify your recommendation.

5️⃣ 𝗗𝗲𝘁𝗮𝗶𝗹 𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀: Don’t forget financial, legal, risk, and other impacts.

6️⃣ 𝗘𝗻𝘀𝘂𝗿𝗲 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Prove your capacity and capability to execute, including a sound management case.

7️⃣ 𝗟𝗼𝗴𝗶𝗰 𝗠𝗼𝗱𝗲𝗹: Show a clear, credible link from inputs to outcomes and impacts.

Stop leaving approval to chance. Build an undeniable case!

➡️ Dive deeper into our Executive Toolkit for more strategies: ➡️ 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝘁𝗼 𝗴𝗲𝘁 𝗮𝗰𝗰𝗲𝘀𝘀 𝘁𝗼 𝘁𝗵𝗲 𝗳𝗿𝗲𝗲 𝟰𝟬-𝗽𝗮𝗴𝗲 𝗧𝗼𝗼𝗹𝗸𝗶𝘁 𝗵𝗲𝗿𝗲: economicdevelopment.world/toolkit

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