At some point in time you might have or you are required to write and submit a business proposal for your project, business or venture and you are probably stuck on how you are to go about it. Do not worry, we got you covered, we going to walk you through the process of writing a compelling proposal that will convince and woe even potential investors.
What Is A Business Proposal
A business proposal is a formal document that shows a company’s services and products that solves customers needs and providing solutions. The formal document is created by a company and provided to a prospect to secure a business agreement.
A business proposal is aimed at attracting potential clients with what a company sells. A strong proposal may clearly state your value proposition and convince a business or organization to work with you.
Why You Need A Business Proposal
Every business or venture needs to have a business proposal for their own use or to use for sourcing partnerships, funding, agreements, etc. The business proposal is very important as it helps outline the goals and objectives of a project or business venture and the action plan for achieving those. The business proposal is very handy or much needed when you want to start a new project, secure a new deal or funding. It is also usually in competition with other business proposals, hence yours should be top notch to win the game.
Steps In Writing The Business Plan
In coming up with the business plan, you can follow these simple steps; do your thorough research and gather the relevant info, define the project scope, make your initial draft, edit your proposal and finally submit the proposal.
Contents Of A Good Business Proposal
A good business proposal must at least contain the following:
The name sells it all, your proposal must be well titled to indicate its focus or what it intends to solve. The title page must have; your name and the name of your business, the prospect’s name (or their company’s) and the date you submitting the proposal.
Table of Contents
The table of contents puts structure on your document and helps scan the document as people can easily go through to sections they are interested in.
An executive summary summarizes the important points in a bigger report. It is frequently written to be shared with people who may not have time to read the complete report. The executive summary should be sufficient for the reader to make a decision. The executive summary is a staple in all kinds of annual reports, project plans and even marketing plans.
A problem statement is a brief, concise explanation of a problem or challenge that summarizes what you wish to change. What problems do you intend to solve? This should be clearly articulated in your problem statement. A good problem statement typically highlights your generic pitch and can also help your prospective clients discover even problems they might not have been aware of.
The Proposed Solutions
Now that you have highlighted the problems, its now your time to shine. Highlight your solutions and address the customer’s pain points.
What time-frames are you looking at for the completion of the project or for how long the business proposal will be valid or run in effect. It is important to put the timelines for the whole and sub parts of the proposal.
You can specify your fees, payment schedule, invoice payment terms, and legal aspects of this transaction on this page.
The key to successful pricing is to provide your buyer choices. A pricing comparison chart can be useful here.