If you’re a start-up today then you should be pitching for awards and “free” funding. The start-up world has never had so much free money being thrown around as there is today.
You may say that it’s an unhelpful diversion to be trying to complete laborious online forms to apply for yet another award that hundreds of similar companies like you will be competing for. But don’t forget the different types of value that come from making an application:
- Firstly it forces you to think strategically and competitively about your business. If you can’t answer some of the typical questions about your market, the customer need, the competition and your business model, then you probably haven’t thought enough about it yet and you need to.
- Secondly it raises your profile quickly and easily with well-connected people in your industry. They will often do the legwork of making introductions to influential prospects and possible partners for you.
- Thirdly whether you win or don’t, you can use each application as an opportunity to market the fact that you are in the game and doing something interesting. This can be amplified across social media and your own marketing very easily.
- And of equal importance is the fact that once you have done one application, you can reuse them for another and spend half the time on it!
What’s not to like?!