What are the most important things for artists to know when applying for grants?

Grants are only one piece of pie for artists. They are just one part of a whole strategy that you come up with for yourself.

Before you begin looking anywhere for funding, spend time to find your own objective. Always stick to it. That's the first step. Artists sometimes make the mistake of wanting to mold themselves to what they think the needs of the grantor are. But it's actually just the reverse! You need to know your objective first.

The second step is doing research and identifying resources that match your objective. Sometimes, grants are the answers to that and sometimes they're not.