Overview

The aim of an application is to tell someone about your business. In order to do that, you need to know your business first. This module will help you to think about your business at a deeper level and teach you to write a well-rounded application. You will learn how to talk about and describe your business in a clear and concise way.

While this is geared toward applying for entrepreneurial training programs/accelerators/incubators, the same general principles can be applied to grant and loan applications or funding pitches.

• Familiarize yourself with the program you are applying for.

  This can be done by visiting the program’s website, checking out their social media channels, and speaking with people who have participated in the program in the past (if you don’t know anyone personally, you can often find them via social media. Check out people who are featured in social media posts and DM them – chances are, they will be willing to chat.)

• What does the program offer? How does this align with your goals?

• How (and when) is the program delivered? How does this align with your learning style AND your availability?

• What does “success” look like in the program? How does this align with your vision for success?

• Ensure that you meet the applicant criteria. 

• This is typically available on the program website year-round or in the very beginning of the actual application. Read each criteria carefully and think about whether or not it meets said criteria. While It may be tempting to misrepresent yourself in the interest of getting in, please know that application criteria is designed to ensure that those who apply for the program have both the best chances of earning admission (so applicants do not waste their time) and that those who get in have the best chance of benefiting from the program. Very few programs are one-size-fits-all, and it’s important to apply to the program that caters to your business as it currently stands, not the business you wish you had.

• Review the application questions as early as possible.

• Some organizations publish their questions, others are only available within the application. If this is the case, we suggest going into the application on the day it opens and clicking through all of the questions to understand what you need to prepare. For each question, consider the following:

• Have I answered this before? Can I use information from a prior application/document as a starting point?

• What do I need to organize or prepare in order to answer this question? (For example, you may need to review and update your financials or customer records to answer questions about revenue or number of customers.)

• How much time will it take me to answer each question? How can I allocate that time into my schedule to ensure that I complete the application before the deadline?

• Start early.

• Last minute emergencies arise. Tech glitches occur. Writer’s block is a real thing. You may not be able to predict these issues, but you can prepare for them by starting early enough that you can handle last-minute interruptions. Most programs will NOT extend the application deadline, so aim to finish your application with enough time to spare that a last-minute internet or power outage or family emergency won’t cause you to miss the deadline.

• Be yourself

• Applications are designed to get to know you and your business. There are no right answers. Programs want to know the real, authentic you. Is there something you are struggling with? Tell us about the problem and how you are trying to solve it. Is there a big goal you are aiming to achieve? We want to know what it is and what you’re doing to get there. You don’t need to have all of the solutions, but you do need to demonstrate how you are actively trying to grow.

• Be clear and concise.

• Read the question carefully. Answer THAT question and only that question. No need to use fancy buzzwords – explain your business as though you are talking to a stranger who has no idea what you do. Enough said.

• Know your numbers.

• Revenue, employees, customers, capital – what data is the application asking for? This is not a place to make up numbers. If you need to approximate, do so via informed guesses (based on whatever records you do keep). You might think you are fooling a reviewer with made up numbers, but it’s often easier to see through false data than you realize as your numbers typically align with your narrative answers about other parts of your business.

• Don’t copy and paste.

•  It’s very unlikely that an application will ask the same exact question twice, which means that each answer on your application should be unique. You have a limited number of questions (and often words) to showcase yourself and your business – make the best use of all of them and don’t repeat yourself.

• It may be tempting to copy language directly from a program’s website – please know that reviewers are very familiar with the program you are applying for. Therefore, they want to hear things in your own words – not in the words of the program website!

• Proofread.

• Ideally, you’ll finish your application early enough that you can walk away from it for a few hours and then come back and review with fresh eyes (or ask a friend to review). However, if you’re cutting it close on timing, it’s still important to spend 10 minutes re-reading everything you wrote. There’s always room to improve a first draft!

• Did you fully answer each question?

• Did you answer the question being asked?

• Are there any glaring typos to correct? (Some may be inconsequential, but a number typo or forgotten word could alter an answer entirely.)

Interested in more tips on how to prepare a strong application? Check out the resources below, which include a curation of best practices and advice across a number of different global entrepreneurship programs. (While each one is unique to a specific program, you’ll likely notice similar themes throughout.)

AWEC is an experiential, applied learning program, which means we promote business growth by having fellows immediately apply what they learn to their own business. We have created the following tools to help you apply the knowledge from this module to your business. We encourage you to download the tools below to strengthen your application AND your business!

Well done to you for completing your first module. You can now move on to Module 2: Value Proposition.