By Bill Carruthers, GrantProse CEO 

In our last issue, we discussed building a reputation as a grant writer, deciding on a business model, and defining the services you will offer. It's time to talk about money -- not the piles of cash you will earn, but the costs of running a business, which can include getting legal advice, paying rent, buying equipment and services, etc. We also discuss marketing, getting the word out about your business so you can generate income and build a sustainable business.

Expenses

You're going into business for fun and profit, but a word to the wise -- you may need to invest profits back into the business for the first one or two years. In fact, you will need to continue doing this with some portion of your profits as long as you are in business to cover the following operational expenses (and others you may think of):

Legal. You should consult a lawyer about the legal form the business will take. Will you operate as a sole proprietor, an LLC or PLLC, an S Corp, or...  

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The USDA's Economic Research Service (ERS) reports that disability is an important risk factor for food insecurity. In 2009-10, one in three U.S. households that had an adult unable to work because of a disability were food insecure. ERS has published a number of reports on food insecurity, including Household Food Security in the U.S. in 2011, and has a webpage devoted to food security in the U.S., with key statistics, graphics, and links to related reports.

Visit the GrantProse Resources page for new grant writing guides, or download the latest PDFs here: 

• Writing SMART Objectives and Outcomes offers resources and suggestions for writing measurable objectives and outcomes.
• Planning for Sustainability discusses preparing for life AFTER the grant, and offers tips on writing the sustainability narrative of your grant proposal.