Pulling numbers out of your …

This week the following question came my way (paraphrased for brevity):

Hi Allen,

We are working on getting a proposal out to funders for a project. Here's a loose description of some technical requirements. How much funding should we be asking for?

This question is pretty similar to the rhetorical “How long is a piece of string?” or, “How much should I plan to spend for a house in Guatemala?”

Put simply, it's impossible to answer well.

There are too many unknowns. Too many variables. We have little more than a rough concept.

At that stage, any number you pitch to funders is just made up.

The right answer is: You do not want to seek funding at this stage.

Unless you're okay with pulling numbers out of your … hat.

But don't do that!

All the best,
A.