Proposals can be quite a daunting task when it comes to writing them. You are trying to convince someone to either choose your company or in the case where you act as an individual – you.
Writing a business proposal goes way beyond putting pen on paper, or as the case may be, typing a couple of words on your system. It requires that you clearly understand the problem of your potential client; it doesn’t end there; you also have to give convincing reasons why your company or business is the best fit to proffer a solution to such problem.
While your business or company might be the perfect fit where such problems are concerned, your proposal can still get rejected if not well crafted.
Writing a proposal that gets a ‘Yes’
The components of business proposals will vary based on factors such as the company size, the industry in question, amongst several others. What this means in essence is that the proposal that works for one company might not necessarily work for another, especially if they are under different industries.
However, there are basic elements vital to any type of proposal, regardless of the industry. They include:
- Your company’s information
Your business proposal should always contain detailed information about your company; who you are, what you do and qualifications to back it up. In addition, it will contain why your potential client should choose you out of several competitors.
- Your knowledge of the problem
No client will go into business with someone who knows very little or nothing about his/her organization. You want to show your prospective client that you have carried out all necessary research about the company and know exactly what they need.
- Your methodology and pricing
Methodology is the strategy you will adopt in solving the problem, while pricing is how much it will cost to achieve it.
Formatting a Business Proposal
- Title page
Every business proposal should begin with a title page. Title page contains your company name, company logo, contact information. In addition, it contains the information of your prospective client such as the name, and also the date it is being submitted.
- Table of contents
Adding a table of content to your business proposal gives it an awesome touch. It makes it easier for whoever is reading through to locate contents within the proposal. Having anchor links that automatically lead to any area is an added advantage; this only works if the proposal is being submitted in PDF format.
- Executive summary
Your summary is a great way to sell your business or whatever service you are providing. With your executive summary, you can convince your prospective client on why you are the best fit for the job.
- Statement of problem
Here, you state the problem being faced by your client – which is why they require your services. In order to get things right here, you need to have a clear understanding of what it is they need and why they want it. if this is well executed, it gives your client the impression that you know all there is to know about the challenge they are facing.
In this section, you state measures and strategies you are adopting to tackle the client’s problem. How will you go about proffering a solution? Take your time to go into details but be careful not to include unnecessary information so as not to wear them out.
Your qualification is a great way to make your client see why you are the best fit for the job. Put up qualifications you have acquired that are relevant to the job at hand. It can include your educational qualification, projects you have undertaken in the past. You want to ensure everything stated is relevant to the project at hand.
Every project should have a timeframe for completion. Your schedule should state how long it will take you to execute the project. Be careful not to set unrealistic expectations as this might damage the relationship you share with your client.
Do not try to bite more than you can chew by making promises you can’t keep on the long run. If you are running a product-based business however, this part of the proposal can be skipped.
Total Payment Due
- Cost and payment
Executing a project requires funding. This section of your business proposal is where you get to state how much the execution will cost. The structure of this section varies based on the type of project you are working on or service you are rendering.
For a project or service that requires a one-time payment plan, a ‘Fee Summary’ section may be required. In other situations, a ‘Pricing Table’ will get the job done. In all, ensure you provide as much information as possible and as is required to help your clients make the best decisions.
- Legal matters
This section contains information such as permits, amongst other legal issues that need to be addressed. All information that will help in taking care of the legal aspect of the project should be included.
This is where you get to blow your trumpet. Sell yourself and do not make the mistake of trying not to come across as overly ambitious. Go ahead and state what your prospective client will gain by hiring you. Help them see why you are the best fit for the job.
Developing a strong and convincing business proposal can be a daunting task. However, when done well, it can be the key to the success of your business.