Are you new in your industry? If you are new or you don’t have much experience in the industry you want to engage in, then you must be ready to learn how to create your business proposal.
A business proposal can be intimidating to write, especially if you have no experience at all. The aim of a business proposal is to attracting the perfect candidate to choose your company and to win new business. It is a condensed version of your company, products, services and value and the ultimate sales document. This means it needs to be crafted to attract clients to your company.
Types of business proposals
There are two types of business proposal.
- The Solicited business proposal: this kind of proposal is submitted in response to an advertisement or requested by clients
- The Unsolicited business proposal: given out or submitted to potential clients even when there is no request for one.
Not everyone knows how to craft an entertaining business proposal.
Writing a business proposal requires you to convincingly articulate your understanding of solving a client’s problem and why your company is the best. Sometimes even the well-crafted business proposals can get rejected, but here are the things you need to do to write an effective business proposal.
What you need to do to write a business proposal
To write an effective business proposal, they are some things you need to put into practice. They include:
Doing your research
Before writing your proposal, you should know that not all clients will give you the details of what they need and want. If you are submitting an unsolicited proposal, it’s even worse. To beat your competitors, you need to extend your research to include your potential clients not forgetting their customers. This will ensure the proposal is comprehensive and detailed.
Asking yourself the ‘why you’ question is important before crafting your business proposal. If you determine your client’s needs, chances are other companies have also determined and submitted their proposals too. With that in mind, it’s crucial you make sure your business proposal highlights your qualifications, talents, experiences and other things to help convince the client why you are the candidate for the job.
Put yourself in your candidate’s shoes
Before writing that proposal, remember to always put yourself in your potential client’s shoes. This will not only provide you with the much-needed information, but will also go a long way in finding the answers to questions like, why should the client pay you, the amount to ask for the solution and how you can benefit your clients.
Mind the competition
Your business proposal will be reviewed by competitors, which means you need to understand your competitors to improve your submission. You can use the list of companies that downloaded the documents or use your understanding to determine the competitors who also submit their proposal. If you get the chance, review their proposals and refine your proposal.
Think about the audience
To get the right business proposal, the audience is the crucial factor. You must understand the audience, who happens to be the reader on the other end of the document. Before crafting your proposal, consider these questions
- Their main concerns
- Their role
- The decision maker
- Their industry background
- The solutions that provide the best value
- The resources and support they already have
Avoid writing a generic proposal. Craft a proposal that describes your services and the impact they have on the audience.
What are the things you need to include in your business proposal?
What goes into a business proposal? If you want to write a business proposal, then you need to know what goes in it and what to avoid writing in the proposal. Include:
- Recommended Solution
- Estimated Project Schedule
- Terms and Conditions
- Goals and Objectives
- Fee Schedule
- Fee Summary
- Next Steps
Other things include:
- Your company’s information: why you would like the client to pick you, who you are and your qualifications.
- Methodology: the client must know how you will solve the problem.
Demonstrate your knowledge of the problem: sometimes, the clients will only focus on how much you know about the problem to see if you are the perfect person to solve the issue. Show the client you have done the research and you know what they need.
Business proposal should be persuasive. To craft a strong proposal you need to plan, prepare, and understand the audience, write and review. The time you spend doing research and understanding the audience will help you in the proposal development stages. Begin with an in-depth finding discussion and make sure you write the correct information about the client’s problem, potential solutions, and their goals. Don’t forget to include your contact information in the proposal.