An exceptionally crafted business proposal might just be the differentiating factor between the company that won a contract and another that did not. It is what sets the standard and tells why your company or business should be selected. It is what you bring to the table and how you present it.
According to Wix Encyclopedia, “a business proposal is a sales document written by a company to convince a prospective client to award them a particular job contract, or to use their services.” This means that a business proposal is a document you present to a prospective client and/or customer in order to gain their preference. It is also presented to angel investors in the event of seeking investment for your business.
Read more about Business
There are basically two types of business proposals: Solicited Proposals and Unsolicited Proposals
- Solicited Proposals:
As the name implies, a solicited proposal is one that is demanded by a particular organization, investor or client in order to call for project bidding. It is what sets the pace for your business to compete with other businesses or companies for a project.
- Unsolicited Proposals:
Contrary to the solicited proposals, an unsolicited proposal is one that isn’t sought after, but need-based. When certain business opportunities come up, as a business owner, without having to be spurred by a project bidding competition, you can draft your business proposal which will serve as what you have to offer to your prospective client or investor.
Having a ready business proposal is important. This goes a long way to say that you definitely need to put in a great amount of effort to make sure your business proposal comes out as flawless as possible. In this article, you will be reading simple steps on how to write a business proposal. Let’s go!
- Research
The first step to undertaking any successful venture is to carry out extensive research. In order to write a winning business proposal, you should first all, carry out your research on the client or company involved, the project at hand and the needs of the company. This will enable you to tailor your proposal effectively.
- Outline Your Points
Just like every speech or presentation need you to outline or draft your points, writing a business proposal requires that you outline your points. After your research, you need to put down what you have gathered as it relates to what your company provides. Then you make an outline of your company values, and the problem you are solving.
- Start with a title page
This is where you introduce yourself and your business. You should include your name, company name, the date you submitted or will be submitting the proposal, and the name of the client you are submitting the proposal. Ensure you make this page professional and appealing.
- Create a contents table
This is where you list all the categories you will be explaining in your proposal. You will list them according to how you will be describing each of them. This should not look bulky, but as concise as possible. It will help your client to easily access the contents of your proposal.
- Give an executive summary
The executive summary explains the benefits you are selling to your prospective client/customer. It is your value proposition and that of your company. This is where you show and tell your client that you are the right person to be awarded the project or contract.
Sign up to the Connect Nigeria daily newsletter
- State the problem/need (event overview)
Stating the problem or need of your client is what shows them that you have done your due diligence; that you have carried out the necessary research and have identified where you can come in.
- Proffer Solutions
This is where you will elaborate on what you had earlier stated in your executive summary. You will recommend your services to meet the needs of your client.
Other steps are:
- Include your qualifications and pricing options
- Include your terms and conditions
- Add a space for signature signing for you and the client.
Some things you should also consider while writing your business proposal are; use call-to-action, add social proof, include video/graphic content and add a sense of urgency.
Got a suggestion? Contact us: editor@connectnigeria.com