Guide – How to write a business proposal
Business Proposals can build or break the opportunity of procuring a new client. And the best way to make your deal the best one is by creating a marvelous business proposal. Let us say you succeed in getting the client’s attention, and then you mess it up with a sloppy business proposal. This would make you lose the chances of offering your services which is why preparing a business proposal correctly is crucial.
Writing and preparing a business proposal is straightforward. And if you are not sure on how to write a reasonable business proposal in the right context, you would find out all that you need to know about preparing a business proposal here.
A Business Proposal
Basically, a business proposal is a document which outlines all the best of the services you provide and states the reason that he should choose you. This document is what you present to your client while introducing your company also.
Business proposals can be asked for (solicited) or presented (unsolicited). Even though the client didn’t ask for a proposal, it is given hoping that you can attract their business.
While both are the same thing, a solicited proposal is usually more advantageous, as it is requested from the client and they have that they want you to perform that job or render that service. With this, your client may have issued a RFP (request for proposal) which means that they want your business proposal to have a look at it.
People have confusion that preparing a business proposal and a business plan are the same, but they are not. A business proposal is a document presented to a client for attaining a contract for rendering your services. Basically, you are trying to market and sell your services through this document.
While preparing a business proposal you should consider the three P’s (Problem statement, proposed solution, and pricing). If you don’t know where to start from, then begin to conceptualize these main topics. As you have gone through these, it’s time to go to the rest of the proposal.
The correct format of a business proposal
You cannot just pick up any format and make a mess out of it while preparing a business proposal. To avoid such mistakes, here are some steps that should be followed:
First, start with the Title page
While preparing a business proposal, start with the title page. It should consist of the name of your company, your name, The name of ho you are submitting the proposal to and the submission date.
Create an Index
Your business proposal maybe long, to make it more specific number the pages and write the contents of the proposal. It should be after the title page. It is a nice tough and can help the client to navigate through the proposal easily.
Write a Management/ Executive Summary
While introducing your proposal include an exclusive executive summary that helps to promote your business and the services that you render.
A statement addressing the problems or issues
After your summary, discuss about the problems that you know the clients are facing currently. Here is where you can present yourself as the best solution to their problems, show them that you understand their needs. Summarize their problem so that they know that you understand what they need.
Technique of Approach
In this section, you should portray your plan on how to tackle the client’s problems, and the procedure involved in implementing your plan. This is the place where you give the essential details about how you plan to tackle the client’s dilemmas.
Keep it nice and simple while preparing your business proposal, and create the complete part in a story mode as you don’t want your client to drown in riddles. He should be able to get a clear print of your plans and understand it easily.
Over here is the place where you get to persuade your possible client, and let them know why you are the most capable person to do this job. Remark any of your relevant education, certifications or industry-precise expertise you have. Also, bring up previous projects that are alike in nature, your capabilities, years of experiences, knowledge, and so on in this part while preparing the business proposal.
Your Agenda and Benchmarks
Be evident with your eventual client. Know the time it would take to do the project. Make sure that you and your potential client are on the same page as it will build a positive relation and not set your client on unreal expectations. You might also neglect how long it might take you to deliver, Don’t. Do not give promises that you can’t keep as it will slander your company’s reputation.
If your company is offering products then this may not be applicable in that case, so you can feel free and overlook it while preparing your business proposal. The business proposal is pliant and can be customized to your best fitting.
Price, Payment and Legal Affairs
This is where you start considering practical details such as costs, and payment agenda if necessary. You should state these in the proposal so that the client is aware of the price range of the services that you render.
This structure will primarily depend on the specific project and on the services that you are bestowing. It is your choice to do a “Fee Summary” and summarize the entire costs if a one-time payment is needed for the task or you can give a “Fee Agenda” in which all the expenses are listed out properly in order as it may be more appropriate. You can always consult the RFP to make sure that you are giving all the information that they need to help to shape their conclusion while preparing your business proposal.
If any legal documents are needed, include all the information over here. If you want to, you can include a segment dedicated to the legal aspects of this project if it is needed.
Give the Benefits of Choosing You
This is the ultimate-deal for you. Feel free and state all the benefits that the client will get by choosing you to do this project. Give details that will impress your client about you being their best choice and all the possible manners in which their business will benefit by choosing you.
How long should it be?
Well, a business proposal depends on how much you have to say about yourself and the details you have to give. But it also depends on how long it takes you to answer the question from the RFP. It finally depends on the project, your company, and the RFP listings of details needed in terms of facts, data, and information. All you need to do is give all the right information while preparing your business proposal in the right format.
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