Proposals are very scary to write. This is partly because proposals can help you or destroy your chances of securing new clients. When you write a good proposal, clients will sing your praises but when you write a poor proposal, even if you are offering the best service, they will simply cut you off.
Some company find writing proposals very difficult. They have no idea what to write, or how to put down their ideas but they want to get it done with as soon as possible
In writing a business proposal, you are trying to convince the client on why your company is the best fit for the project, how you (the company) intent to solve their (the client) problem and what they intend to benefit from you.
So you can now ask, how do you write a business proposal, and what is the proper format?
While it depends a lot on your company, writing a business proposal is pretty simple.
A business proposal is a document you send to a prospective client, defining the services that you are offering, and explaining why you’re the best person for the job.
The main purpose of business proposal is to persuade a client to do business with your company.
A business proposal can either be solicited or unsolicited.
If a business proposal is solicited, it means that the individual or business writing the proposal has been asked to submit a proposal by the client. This can be done by the business sending RFP’s (request for proposal). It is the standard way that businesses ask for submissions.
In solicited proposal, your prospective client has already decided that they want to make a purchase or use a service, and they are assessing possible vendors or businesses they want to use to meet their needs.
In an unsolicited business proposal, you are approaching a client in expectation of attracting their business, even though they did not clearly request a proposal.
Whether the proposal is solicited or unsolicited, the steps to create your proposal are alike. Ensure it includes the three Ps of business proposals namely Problem statement, proposed solution, and pricing
Here are the steps to writing an effective business proposal:
- Research and Gather the Information You Need: when there is an available business opportunity, research and learn more about the client and the project. This will form the key elements that will help you create a proposal that will be acceptable.
- Define the Objectives & Scope of the project: it is important to know and define the objective of your proposal so that you can always stay focused on what you want to achieve. The scope of the project includes the amount of work that needs to be completed to satisfy the clients requirements. This helps to shape your proposal and give it a good look.
- Calculate Your Labor & Costs: always consider how much the project will cost and how much you will charge your client. Try and overestimate on the cost of the project. This is because of the unforeseen contingencies always encountered while executing a project.
- You can now Begin Drafting Your Business Proposal
1. Begin with a title page.
Start by using the title page to introduce yourself and your business. Make sure that you include your name, your company's name, your company logo, the date you submitted the proposal, and the name of the client or individual you're submitting the proposal to, the date, and a title. It helps to make the proposal look neat and organized.
2. A cover letter.
A cover letter is an introduction, brief background information about how your company came to be, and a short overview of what makes your company better than the rest.
3. Create a table of contents.
A table of contents will let your potential client know exactly what will be covered in the business proposal. If you're sending your proposal electronically, include a clickable table of contents that will jump to the different sections of your proposal for easy reading and navigation.
4. Introduction
This is introducing your company and mission in a way that connects to your potential client’s needs. Include a brief story that gives your client a feel for your brand’s character and helps to encourage trust. Always highlight what distinguishes your company, your accomplishments, your credentials, and any awards.
5. Executive summary.
The executive summary details exactly why you're sending the proposal and why your solution is the best for the prospective client. It outlines the benefits of your company's products or services, and how they can solve your potential client's problem. Executive summary gives the prospective client a clear idea on how your company can help them, even without your client going through the whole proposal.
6. State the problem or need.
This is where you provide a summary of the problems or needs the potential client is facing. It provides you with the opportunity to show your client that you have a clear understanding of their needs and the problem they need help in solving.
7. Propose a solution.
This is where you offer your strategy in solving the client’s problem. Be sure that your proposed solution is customized to the client's needs so they know you've created this proposal specifically for them. Let them know which deliverables you'll provide, the methods you'll use, and a timeframe for when they should expect them.
8. Share your qualifications.
This is the section to communicate why you're best for the job. Include case studies of client success stories, mention any relevant awards or accreditation to boost your authority.
9. Include pricing options.
This is the section where specifics are key. Create a pricing table that clearly identifies each product or service, and pair it with the most accurate pricing information you can provide — you don’t want to overestimate the cost and scare your potential client off with an estimate that’s too high, but you also don’t want to underestimate the cost and set your client up for unexpected pricing issues down the line.
10. Clarify your terms and conditions.
This is where you go into detail about the project timeline, pricing, and payment schedules. It's essentially a summary of what you and the client are agreeing to if they accept your proposal. Make sure you clear the terms and conditions with your own legal team before sending the proposal to the client.
11. Include a space for signatures to document agreement.
Include a signature box for the client to sign and let them know exactly what they're agreeing to when they sign. This is also a chance to include a prompt for the prospect to reach out to you if they have any unanswered questions you can address.
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