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ROI for Foodies

I enjoy watching some of the Food Network challenges because it’s fun to discover new baking ideas. While watching an episode last week, I noticed another reason the competitions are so much fun to watch.

Grant writers and Food Network competitors go through a similar process in hopes of winning money. To win the prize, we all have to show the judges how they will get a Return on Investment - or in the case of nonprofits, a Return on Impact - by investing in us.

In my TEDx talk, I explain how the key to writing a winning grant is to show the grant funder the Return on Impact (ROI) they’ll get. Funders aren’t looking for a return on investment like a for-profit business. Instead, grantmakers want to give grants to organizations they know will make an impact on the community, just like the judges on the Food Network want to invest in chefs that will contribute to the baking community and represent the Food Network well.

9 Ways Food Network Challenges are Like Grant Writing:

1. The judges provide clear instructions and a goal before the competition begins.
2. The competitors can be creative, but they still have to stay within defined parameters.
3. The competitors have to make a reduction to eliminate any fluff or distractions. (Check out Episode 16 for examples of how to do this in grant writing!)
4. The challenge always includes a tight deadline, so competitors have to practice and be prepared to thrive under pressure.
5. Competitors must adapt quickly when mistakes and unexpected hurdles occur.
6. Judges love a good story, as long as it is relevant and concise.
7. Participants must present a complete, finished product.
8. Most competitors won’t win the prize, but they don’t give up on their dream.
9. Before the participants do anything, they sketch out their vision and devise a strategy to transform that dream to reality. 

Many competitors skip the vision and strategy and go straight for writing the grant, but this should actually be the first thing both grant writers and Food Network competitors do. Without a vision and goal, there’s no direction, only chaos and confusion.

Conclusion

Your ROI isn’t just a formula for how to position the grant for funders. It’s also a vision for your organization. It’s your nonprofit’s lighthouse. The return you want to give your funders is the same as the impact you want to have on your community, it’s the reason you do this work every day; it’s what keeps you anchored so you don’t drift from your mission. 

To read today's full episode:  9 Ways Food Network Challenges Mirror the Grant Writing Process To watch and share my TEDx Talk, The Real ROI of Grant Writing.  

 

Challenge Question: 

Which Food Network lesson do you need to implement or improve upon in your work?

Resources Mentioned:

• Grant Writing Simplified Episode 16: How to Write Tight
• Storytelling Series:
  • Episode 58: Are You Telling Your Nonprofit Story? How Coffee Mugs Are Like Grant Writing.
  • Episode 59: How to Tell Your Nonprofit Story Through Video.
  • Episode 60: 5 Questions for a More Compelling Nonprofit Story.
  • Episode 64: Using Data to Tell Nonprofit Stories: 6 Tips to Flex Your Grant Writing Muscles.
• Go to MyEasyGrant.com to find, cultivate, and apply to relevant foundations using Easy Grant by Sparrow Nonprofit Solutions.
• Watch and share my TEDx Talk: The Real ROI of Grant Writing

Connect with Teresa Huff:

Website: www.teresahuff.com

Watch the TEDx: The Real ROI of Grant Writing

Take the Quiz: Do you have what it takes to be a grant writer?

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