The news of a rejected funding proposal can affect your business in the short and long term. Rejection causes pain, low self-esteem, low IQ, anger, and aggression. Thankfully, there is a better way to deal with it.
One of the big reasons for the pain is the amount of time you spend on the project. It involves searching for grants, researching, and writing the proposal. The writing part is also time-consuming and mentally tiring.
Then, after all this hard work and time spent, you learn you did not succeed. What a blow!
Read on to learn what to do after a funding proposal rejection.
Steps to Take After a Funding Proposal Rejection
It’s easy to give up once you hear about your failed funding proposal. You might think the other professional companies you are competing against know more.
Here are the steps you should take:
1. Deal with Rejection First
The first step is to take an objective approach to dealing with rejection. Its emotional impact can hinder progress if you don’t sort it out.
Deal with rejection at work by getting support from colleagues. Ask for feedback, manage your emotions, and take positive action.
2. Review Your Proposal Process
The next step is to check if any part of the proposal process had a flaw. Did you follow all the rules? Did you meet the requirements? Did your proposal have errors? Did you do enough research and provide enough facts?
Finding any mistakes in the process will answer why you were rejected.
3. Start Over and Get the Process Right
If there are no mistakes, then perhaps the quality of your proposal was not at the right level.
To secure funding, you must understand the grant requirements and program descriptions. Find and consult companies with successful proposals. You might be doing something wrong.
Moreover, remember to share your company’s story. Why are you best suited to solving the project problems? Offer those solutions.
4. Meet or Talk to the Project Funders
After a rejection, talk to the funders and learn why they said “No”. Check if you can send them a revised proposal. If you can’t, then use the experience for future projects.
In the future, meet and engage with the funders before submitting your proposal. This gives you a better picture of what they are looking for.
5. Write a Great Proposal
The best proposal writing provides facts about the project. Many writers make the mistake of focusing on emotions. Thus, they present an “all about me” proposal that doesn’t offer solutions for the project problems.
Provide a detailed work plan including how you’ll meet the delivery timelines. You must also show you are able to deal with any issues that will arise during the life of the contract. Looking professional and organized boosts your chances of beating your competition.
Learn More About Public Procurement
Bouncing back after a funding proposal rejection is tough emotionally and financially. Remember, you are in a competitive environment and you will win some and lose others. Accept this and it will keep you from getting angry, frustrated, or giving up.
If you don’t know how to fix your proposal, consider hiring a grant-writing firm. Then, you can search for grants and use this firm to send several proposals.
Contact us to learn more about public procurement solutions.