My task next year is to double, almost triple revenue raised through grants (especially foundations).
I know the basics of prospecting and I'm building out my target list for next fiscal year. However, is there a mathemtical strategy or calculation that anyone employs for probability of winning? Our more senior consultant discouraged me from this mindset, but it almost seems necessary, if I'm going for smaller foundations and smaller pots of money, with the idea that they're more likely bets than these super competitive large grants we've been applying for. (We always get far in the competition, but haven't won so far.)
My thinking goes something like, "I need to triple my output, assuming I won't win most of the proposal requests that I submit. If I'm assuming I could win 1/3 of the proposals, then I need to submit three times as many, at similar request amounts." Does anyone else think like this? Or have other tips/advice?
Thank you 🙂
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