Episode 39 - Micki Vandeloo on Business Grants to Fund Revenue Growth Investments
Summary
Most industrial manufacturers are leaving money on the table!
That's the experienced voice of Micki Vandaloo, president of Lakeview Consulting, chatting with host Ed Marsh for this week's episode.
Micki speaks in depth about the often-overlooked opportunities for manufacturers to secure grant funding - where to find them, nuances of successful applications, considerations in complying with requirements, and grant "strategy" vs. just submitting opportunistic applications.
Micki shares her engineering and manufacturing bonafides and experience in...
Episode 39 - Micki Vandeloo on Business Grants to Fund Revenue Growth Investments
Summary
Most industrial manufacturers are leaving money on the table!
That's the experienced voice of Micki Vandaloo, president of Lakeview Consulting, chatting with host Ed Marsh for this week's episode.
Micki speaks in depth about the often-overlooked opportunities for manufacturers to secure grant funding - where to find them, nuances of successful applications, considerations in complying with requirements, and grant "strategy" vs. just submitting opportunistic applications.
Micki shares her engineering and manufacturing bonafides and experience in grant writing, emphasizing the importance of understanding the grant application process, the misconceptions surrounding grants, and the critical role of leadership in pursuing funding.
The conversation also highlights the need for a consistent strategy in seeking grants, the resources available through Lakeview Consulting, and the broader impact of manufacturing on communities and the economy that fuels Micki's passion.
Money being fungible, it's important for companies to think of grants not just as additive, but basic. Grant money can often be used for investments in training, hiring, acquiring new assets that will extend capability, building programs, products and space, and more. And money allocated for those, that can be replaced with grants, are then available for other purposes.
Micki encourages manufacturers to explore grant opportunities actively and not to leave potential funding on the table.
Takeaways
- Grants can significantly support manufacturing growth.
- Understanding the nuances of grant applications is crucial.
- Leadership buy-in is essential for successful grant applications.
- Many manufacturers are unaware of available grants.
- Smaller grants can provide valuable experience for companies new to grants.
- Grants are taxable revenue and come with specific requirements.
- Education and training programs are vital for workforce development.
- Community involvement and local programs can enhance grant opportunities.
- A consistent strategy for seeking grants can lead to better outcomes.
- Manufacturing plays a key role in the economy and community development.
Takeaway Quotes from Micki Vandaloo
- "Stop leaving money on the table."
- "Grants can fund your success."
- "You can stack grants one on top of another."
Check out Micki's website
LinkedIn: Micki Vandeloo and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript
Chapters
00:00 Introduction to Grant Opportunities in Manufacturing
07:33 Micki's Background and Experience
14:22 Understanding Business Grants: Misconceptions and Realities
22:49 The Role of Leadership in Grant Applications
29:49 Building a Consistent Grant Strategy
35:43 Navigating the Grant Application Process
41:18 Lakeview Consulting: Services and Resources
48:20 The Importance of Education and Training in Manufacturing
56:05 Celebrating Manufacturing Day and Community Impact
01:01:48 Philosophical Commitment to American Manufacturing
01:09:35 Final Thoughts on Pursuing Grants
Revenue growth is getting harder as two secular changes impact business. Buying is changing as risk aversion and buying team size grow. Buyers delay talking with sales, and often select the top name on their short list anyway.
And marketing is changing as SEO and content marketing impact decay quickly.
That means we need to rethink marketing and improve sales. That's the premise of Overall Revenue Effectiveness™ - a framework for revenue growth for manufacturers.
GRANTS can be an important tool to fund important initiatives and non-traditional activities (or other requirements to free up funds for these) to help manufacturers leverage the opportunities.
Learn more about ORE™ (Overall Revenue Effectiveness) here.
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