- May 6, 2022
- Posted by:
- Categories: Proposal Writing Guide, Writers King Resources
Organise Business Proposal the right way -How to Package your Business Proposal for immediate Consideration
When you want to start a business the first thing to talk about is creating a stable flow of investments. Business ventures thrive on investments and can not survive apart from investments. Investments are usually down by either the proprietor alone, external investors known as partners or partners and the proprietorship together.
Talking about investors, how can one convince them or even yourself as a sole proprietor to invest in the future or vision of your business. This is where writing a Business proposal comes to play.
Worthy of note also is that A business proposal is not the same or similar to a business plan. This is a common misconception and it is an age-long misconception too, but though there exist areas of similarity (as in an executive summary) the two are broadly and largely different. With that being clarified, you as an entrepreneur can honestly yank information or data as the case may be from your intended business plan while making documentation of your business proposal. This is in fact, a good way to start your business proposal.
However, A business plan can be said to represent a cohesive strategy of how your business operates and would make or makes money. Whereas, A business proposal is an official pitch to clients selling your products or services.
A business proposal seeks to outline the particularities of a product or service offered or intended to be offered by an established business to a forthcoming client. A business proposal doesn’t bear estimates although it might likely carry cost estimations and pricing(mind you, an estimate is much more informal data for a quick look and doesn’t bear the full picture).
Therefore, a business proposal is a document that seeks to detail aspects of a business venture in a proposition format to the end that it can convince and coerce internal and external hands into investing in the long-term and short-term goals of the business module through a pitch. A pitch on the other hand is an attempt to convince your prospective client using the reputation of your business proposal.
Business proposals come in types and these types include (but are not limited to these especially because of diversities in worldviews):
- Solicited Proposal: With a solicited proposal, the prospective client will put out a request for proposals;
- Unsolicited Proposal: with an unsolicited business proposal, you are approaching a client in hopes of attracting their business, even though they did not explicitly request a proposal.
Whilst the both of them are familiar, a solicited proposal sells easily or is easier to sell, as your prospective client has already made the decision to or that they want to make a purchase, use your service, and are examining feasible dealers or enterprises.
While dealing for or with a solicited proposal, your forthcoming investor would have issued what is known as an RFP, (that is “request for proposal.”). This would mean that they want you to send over a business proposal so they can take a look at it.
Another thing to consider especially in this work would be the 3 Ps of writing a business proposal:
- Problem: this will deal largely with the issues of wants and needs of the customers.
- Proposed Solution: how will I solve the pending issues.
- Pricing: what is the estimated cost for settling these issues and how do I balance out the disparities.
In this work, however, the question that is laid bare to answer is this: how can I package my business plan to coerce immediate consideration?
Writing a proposal (business proposal) is something that most persons would have to write, rewrite, write again, again and again, and yet it won’t be accredited or accepted. One of the major reasons would be that, many persons venture into business and investors are supplied in limited quantity. So based on the pre-existing competition, if your proposal is not top-notch and mouth-watering then you’ll have to sit out for the better ones to get accredited.
Consequently, I want to believe that after reading through this article, the next business proposal you’ll write will get accredited.
Your Business Proposal must bear the following for it to be regarded as a standard document:
- Title: The business proposal must start with a title page, which must include as contents on that particular page, your name, the name of the said proprietor’s company, the name of the prospective investor who you are submitting your proposal, and the last but not the least it must include the date submitted.
- Table of Contents: This is a detail that outlines the contents and scope of your business plans. Counting on how long your business proposal is, a table of contents is a beautiful addition. It is included immediately after the title page, and before going into the main details of the business plan.
- Executive summary: This is a summary of your proposal. It is intended to sell your business plan in simple and clear terms. It outlines goods/products and services rendered and then mentions and gives details of the personality of your company and the reason why you’re the best pick for the business.
- Statement of problem: After writing your executive summary, the next job is to make a statement of the problem and then go on to discuss the problem statement that the client is currently facing. It is advisable to think of the problem loosely; since their main problem may just be finding the right person to complete their project. But be sure to comprehend their reason or intent for wanting the product or service that they are seeking. For example, If the proposal is to formulate a brand new website, make sure you as a proprietor understand exactly the functionalities of the said or intended website, whether it be better sales, more content management flexibility, etc. You have to show the investors that you’re the right person by proving here that you understand what is expected of you.
- Approach or methodology: This section should show how you plan to tackle your potential client’s problem, and the steps you’ll take to carry out your plan the said plan. It should be comprehensive. And should bear the nitty-gritty of how you intend to service the needs of your clientele.
- Qualifications You can brag a little here as this is the section of your business proposal where you get the most opportunity to persuade your probable client why you are the best candidate and most qualified person to take the job. You might be required to mention your educational qualities, experience amassed over the years, etc.
- Schedule and Benchmarks: In this section, you tell your investor or your potential client: How long it will take to finish the proposed project?
Ensuring that you and your prospective client are on the same page from the beginning will help you make sure that the relationship is positive and that you don’t set up with unrealistic expectations.
- Cost payments and legal matters: Here is where you talk about the cost, and payment schedule if necessary. How to set up this section will depend on the particular project or service you are offering as each project is unique.
If there be any legal issues to address, like permits, or licensing, then the information must be included here
- Benefits: This is your high horse, your most important piece—don’t be shy to list for your prospective client their benefits by choosing you to complete the project. Instil upon your clients why you are not just an option but their best choice, and all the varying ways their business will benefit from having you and your business as their solution.