3 Ways to Get Your Project Off the Ground
It’s no secret that beginning a new project takes a lot of time and effort. While some projects may be easier to execute than others, you will inevitably encounter times when getting a project going will seem like it is never going to happen.
At WLC, we understand that each project is unique. We work closely with our clients, even in the planning and funding strategy stages, to ensure your specific project goals will be met on time and on budget. With thousands of successfully completed projects under our belt, we’ve learned a thing or two about turning ideas into reality. Below you will find three ways to help you move beyond the planning phase and on to successful completion.
Grants and Loans—Often what stops us from executing a project is financing. Infrastructure improvements and new developments require a lot of capital. When it comes to securing financing it’s important to identify appropriate and realistic sources for the specific project. There are many types of grants and loans available at the local, state, and federal levels designed specifically to help with infrastructure projects. It’s important to identify the right grant/loan for your project and ensure you understand the parameters. Not sure where to start? Check out this list of financing options available to help get your project off the ground.
Partnerships—More often than not, there’s other entities or individuals interested in completing a project that will also benefit from its development. Partnering with another business or agency can be strategic in more ways than one; especially if you’re lacking funding or struggling to show its value. Not only does a partnership offer the opportunity to pool your resources (finances, experience, equipment, etc.), but it can also give you added leverage when applying for a grant or loan by showing you have support for the project and the backing to complete it.
Budgeting—If the first two strategies aren’t available to you, consider footing the bill for your next project the old-fashioned way: by budgeting. The key to budgeting is to make sure you’re being realistic. Write down EVERYTHING you’ll need –from financing to equipment and personnel – and be sure to include a timeline. That way you know how much you’ll need to allocate over a set period of time. Also, be sure to consult your Capital Improvements Plan (CIP). If you don’t have a CIP you could be missing out on important benefits that help you budget and allocate funds wisely.
Don’t get overwhelmed with this process. If you aren’t sure which route to take, contact WLC. We have experienced grant writers and funding strategists, as well as seasoned project managers, that can help you get your project off the ground!
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