A business proposal can make a difference, as it is one of the most critical documents when you are looking to engage a new client. It can make or break a deal, so it would be better to present a strong business proposal in first place.
While writing your business proposal, you need to pay attention to various aspects. This includes proper formatting, layout and thorough knowledge about the client. To know what a business proposal is, you can get an idea by reading a business proposal sample.
If you don’t know how to write a business proposal,this article will offer a great deal of assistance in every respect. By incorporating all of these essential elements, you can create an appealing and more engaging business proposal.
Business Proposal Explained
A business proposal relates to a business opportunity. It is a specific request to the client, which is either made after a Request for Proposals (RFP) or as an email follow-up. The proposal should be tailored to the client’s needs. In fact, it must provide a viable way to resolve the client’s problems. So before writing the proposal, you should exactly know what type of problem your client is facing.
The layout of a widely used business proposal sample is given below:
- Title page
- Table of contents
- Executive summary
- Statement of the problem
- Proposed solution
- Terms and conditions
Business Plan Vs Business Proposal
Although business proposal template is similar to that of a business plan, both of them can’t be treated as one and the same thing. On the contrary, a business plan is considered as a formal presentation of specific business goals and the viable ways to achieve them. Some of these elements are also included in most of the business proposals.
Ingredients of a Top-notch Business Proposal
Every business project has its own requirements, but the basic structure of a business proposal is almost the same. Hence, you can easily customize a proposal rather starting from scratch for every project.
When you take a look at a perfect business proposal sample, you will notice that it has three major ingredients including:
- Problem statement
- Proposed solution
- Pricing information
- 1-Problem Statement
This is your first step towards getting more clients by convincing them that you understand their business needs better than anyone else does. A winning business proposal is one, which must describe client’s needs in a simple and plain manner. This is essential, especially when you want your clients to believe that you are capable of resolving their problem.
- 2-Proposed Solution
The basic theme behind creating a business proposal is to propose a solution and submit it to the client. Hence, you need to provide almost every single detail, showing your ability to address such an issue. The solution you have proposed should be customized to meet client’s needs.
Make them believe that you have created this proposal just for them. Don’t stop here and continue to provide them with the information associated with methods you will utilize, deliverables you will offer and a realistic timeframe for the solution to be implemented.
- 3-Pricing Information
This is surely the decisive factor of every business proposal. Therefore, you need to be careful while providing pricing information. This segment relates largely to the solution you have proposed to the client.
If the proposed solution is achievable within a short span of time, you need to submit a Fee Summary. On the other hand, pricing information for longer projects must include a Fee Schedule List showing specific milestones.
Things to Consider While Creating a Winning Business Proposal
Once you have gained acquaintance with the essential elements of a business proposal, it’s time to look for some other things that are necessary to grab the attention of the readers. Just take a look at these aspects to add required strength to your Proposal.
- Do Your Homework
For this purpose, you must do extensive research regarding your client’s business and their prospective clients. This will make your proposal more detailed and comprehensive. You can start with the business profile of the clients. By personalizing the research, you can easily get clues on what exactly your clients are looking for.
- See through the Eyes of Your Client
By putting yourself in the shoes of a particular client, you can know what they exactly want and what they expect from a business proposal. This works for both the new as well as previous clients. You should be familiar with the specific needs and work style of your prospective client. This serves as a motivation, which convinces them to accept your business plan.
- Why Clients should Consider Your Proposal
Just like you, your competitors would have also gained an ample amount of information about the specific needs of a client. This suggests that they will also submit a comprehensive proposal to engage that client. In this scenario, you need to explain what makes you different from the rest. Therefore, highlight your talent, skills, and experience to persuade your client.
In fact, every business proposal template offers a similar type of layout. However, it is necessary to give proper time and make it as unique as possible. Each project is different and you must submit a tailored proposal for every project. You must follow this rule even if you are submitting a proposal to your existing client regarding a new project.