You have to write a well-structured Business Proposal to attract new clients. This written offer is given to prospective customers, providing information on a service or product. It helps expand projects and secure funding and business growth.
What should it include?
A few questions are to be answered in this proposal. This includes:
- Your introduction and what your business does.
- Problems faced by your buyers.
- Solutions offered by your business to such problems.
- How can your business implement the solution successfully?
- Estimated resources, time, and money desired to implement such solutions.
What should it include?
It might vary in formatting. However, it should have certain key elements. It includes a title page, content table, details in the executive summary on ‘why’ about your company, need statement, problem, qualifications, etc. Other elements to include are pricing, timeline, legal information, billing, terms and conditions, acceptance section, etc.
Winning business proposal tips
1. Research and outline the proposal:
Before you outline, ensure you have done lots of research on how to grow your business. Get pertinent data, case studies, and compelling examples of how your clients can benefit from your proposal. The outline is essential, as proposals are well-structured processes. It may be a simple, 1-2 page document with bullet points to highlight key features.
2. Create a table of contents and titles:
The title will introduce potential investors to your proposal. Hence, develop a solid, strong title page. Unsolicited proposals should be made exciting and should solve customers’ or investors’ pain points. The table of contents should summarize the rest of the proposal. It enables your readers to find their desired topic quickly. Thus, they will know what you deal in and the benefits offered.
3. Executive summary:
Your reader will be introduced to the proposal with an executive summary. It is similar to a cover letter, having a concise introduction and summary. Unsolicited business proposal ideas will require a business introduction. Hence, provide an overview of objectives and goals to achieve, showcase milestones achieved, outline your future path, etc. Also, outline what potential customers and decision-makers can expect from the proposal.
4. Project details:
This section of your business proposal idea should include qualifications, problems, and viable solutions. The proposal should identify the client’s problem and follow up immediately with a potential solution. Qualifications demonstrate your certifications in the field and showcase your track record in solving such problems. Your target audience needs to be confident after going through this section.
5. List budgets, milestones, and deliverables:
Determine specific deliverables after outlining project details. If the plan is to launch a new branch in any new place, identify steps to achieve the process, the cost involved, and the timeline. Strive for professionalism and accuracy as it helps demonstrate your seriousness in your efforts. It also showcases that your process offers essential solutions sought by your target audience. A winning business proposal is one that has eye-catching headings, outlines work scope, time frames, and payment schedules, and is free from typos.
6. Create an appendix and conclusion:
Your proposal should have a strong call to action at the end. Readers can know what action they should take next. It can be an online form that they have to fill out or call the sales executive. The appendix will have the methodology, definitions, reference materials, and relevant items.
7. Polish your proposal:
Potential investors and customers would be interested in going through a well-written proposal. Two things bolster the proposal, namely, elegant design and solid writing.
Why the need for winning proposals?
New and established small businesses should prepare a business proposal to attract prospective customers and investors and to expand. It enables you to secure funding for your new or existing project. You can document realistic projections and plans, and outline additional growth structures. You can showcase relevant metrics and new pricing models and identify weaknesses and strengths in your existing business model.
