RFPs, or Requests for Proposals, are like invitations for businesses to bid on completing a project, while grants are more like gifts of money, often from governments or foundations, to support specific projects or organizations.

Grants vs. RFPs: Surprisingly Similar?

Both involve a formal application process where you outline how you plan to use the funds or complete a project. They’re both competitive, requiring you to make a strong case for your project or organization. Additionally, success in both can hinge on aligning with the funder’s or the commercial business’ goals and demonstrating your capacity to deliver on your promises.

They sound the same, don’t they?

The preparation is the same. Determine if you are qualified and can deliver what the customer or funder asks for or more. Common tasks include: reading the requirements (read this blog), understanding the audience evaluating your responses, assessing your company’s SWOTs, and preparing the response strategy and team. Setting steps, milestones, and due dates are also common prep work activities for both grants and RFPs..

The analytics are the same once awarded… keeping track of internal deliverables, correlating time and effort in assessing the win/loss and ROI of the processes and responses and soliciting customer feedback that can improve future responses.

There are even synonymous and interchangeable terms, e.g., Capture Team, Deal Team, Red Team, etc.

The above may oversimplify the work involved in preparing grants and responding to municipal and commercial RFPs. You may need different details. However, grants and RFPs aim to establish a foundation for collaboration between two parties, and the commonalities suggested here frame the necessary work.

If the world of RFPs and grants feels like a maze, you’re not alone! Whether it’s crafting a compelling proposal for an RFP or navigating the specifics of a grant application, we’re here to guide you through every step. Reach out to us today, and let’s make your application stand out from the crowd together!