Templates for a Business Proposal:- If you are just starting out as a new business and are trying to build up your customer base, a business proposal can help you bridge the gap between you and your potential customer. It outlines your value proposition, as well as its primary purpose in a bid to persuade organizations or companies to do business with you.
What is a Business Proposal?
A business proposal is a document drafted in a bid to persuade an organization into buying a product or service.
A business proposal is in two categories solicited or unsolicited. What this means, is that the purchasing company is either actively seeking proposals that are geared at meeting a specific need or is reacting to an offer, mostly a salesperson, to consider a proposal. Solicited business proposals are requested by a prospective client while an unsolicited business proposal, on the other hand, allows you to approach a potential customer with a proposal, even if they do not request one.
Note that a business proposal is not a business plan. A business plan present a company’s operational and financial objectives and is an important corporate document that is different from a proposal. Thus confusing the two will produce either a poor business proposal or a poor business plan.
Why is business Proposal Important?
The following makes a business proposal an important document:
- A business proposal is designed for a specific request or opportunity.
- It is an important corporate document.
- A proposal is always tailored to meet the client’s needs.
Guide to Writing a Business Proposal – Templates for a Business Proposal
Before you start with writing a business proposal, it is important that you have a clear understanding of the business you are writing the proposal for. If you have been sent an RFP, ensure you go through it carefully, to help you know exactly what they are looking for.
It will also help to have an initial call or meeting with the new client to ensure you fully understand the problem at hand as well as their objectives.
After you have successfully carried out your research, then you can start writing your business proposal.
How to Write a Business Proposal
Note that when it comes to writing a business proposal, there is no one-size-fits-all approach to writing one. You can use the steps that best suits you and your company. But here, we will be offering a guide to help you.
Start with a title page
The title page is what introduces you and your business. Thus you must ensure that you include your name, your company name, the date you submitted the proposal, as well as the name of the client or individual you are submitting the proposal to.
Draft out a table of content
With a well-crafted table of content, your potential client would know exactly what the business proposal covers. If you happen to send your proposal electronically, it will be best to include a clickable table of contents that will jump to the various sections of your proposal for easy reading and navigation.
Use an executive summary
The executive summary throws more light on the reason you are sending the proposal and why your solution is the best for the prospective client. The executive summary also outlines the benefits of your company’s products or services, as well as how they can solve your potential client’s problems. Your executive summary should give your prospect a clear idea of how you can help them.
Outline the problem or need
Here, you have to provide a summary of the issue impacting the potential client. You will have the opportunity of showing them you have an understanding of their needs and the problem they need help solving.
Proffer a solution
At this point you have to offer a strategy you would be using to solve the problem. Be sure that your proposed solution is customized to fit the client’s needs to help them know you created this proposal just for them. Let them understand the deliverables you are providing, the methods you’ll use, as well as the timeframe for which they are to expect them.
Share your qualifications
Give your prospects a reason to trust you that you can solve their problem. Use this section to communicate why you are the best for the job, by including case studies of client success stories, mention any important awards, or accreditations to boost your authority.
Include pricing options
Here you have to be careful so you don’t under or overprice your product. If you like, you can provide the prospect with a few pricing options for their budget, you can also include an option fee table.
State your terms and conditions
In this section, you will have to go into detail about the project timeline, pricing, and payment schedules. This is where you give a summary of what you and the client are agreeing on if they accept your proposal. It is best to clear the terms and conditions with your legal team before you send the proposal to the client.
Create a space for signatures
Make sure you include a signature box where the client will sign and let them know exactly what they are signing up for. This is also where you will have a chance to include a prompt for the prospect to reach you if they have any unanswered questions you can help with.