Before we get to the things which you should keep in mind while writing is a business proposal, you first need to understand what a business proposal actually is. Writing a business proposal is not an easy job. It determines the whether your business is going to be a success or a failure before it has even begun. In today’s world where every person is aiming to be a self-made entrepreneur finds themselves spending several hours targeting clients, and proposing their business ideas to potential sponsors and never hear from either of them but there are some people who will get their clients and funding right after they submit their first business proposal.
To give you a better understanding of what is a business proposal let us put it like a business proposal is well-written document that you pitch to a buyer or a client offering them a particular product. Most of the people think that a “Business proposal” and a business plan are the same thing but trust me they are two separate things. A business plan is a list of goals and ways of achieving these goals. A business plan can sometimes be attached to a business proposal.
Now that we have that confusion out of the way, let us focus on the things you should remember when you are writing a business plan. These tips will not help you in writing a good business proposal, they will also grab the attention of your client and you will get that deal locked.
- Research
Understand this that not every client will give you a detailed document of their requirements, especially if you are proposing something which they are not aware of. Research helps you with this problem. Study your market, see who are your competitors, who are their clients and what they are doing to sell their product. This will help you to come up with a detailed and comprehensive proposal. It will also give the impression that you have done your homework and you are well aware of the market that you are jumping into.
- Look Through the Buyer’s Eye
One more thing to keep in mind while writing a business proposal is to look at things through the client’s eye always. By doing so you will be able to see what you want from a business like yours. You will see what the buyer is expecting from your product and it will also help you prepare for things which they will most likely ask you about such as “How is your strategy beneficial for us?” or “Why should we invest this much money in you?” Being familiar with your client’s needs, their working style will convince your buyers that you are the suitable and trustworthy.
- Why Choose You?
If you can see at some point that a company has some specific needs, there is a pretty high chance that others can see them too, which means that those people must have proposed their ideas to fulfil their needs as well. Then why would they go for you and not someone else from the number of proposals they have received?
In order to make them choose you over all the other proposals you need to show how talented you are. Put it out there, your talent, your qualifications, your experiences. Like including visuals of your expertise like if you are a good writer you can add in some samples of your writings for the buyer to see how good you are.
One final thing to make sure that you ace while writing a business proposal is 3 Ps. What are the 3 Ps of business proposal? Stating the problem, proposing a solution and lastly pricing the information. Every business has different dynamics but writing a business proposal for any business out there is the same. What you have to do is make sure that you show this to your client that you understand their problem and their needs better than anybody else. Also, keep this in mind that stating a problem or a need in a simpler manner will make your business proposal easier to understand. Once you have identified a need, you must have a solution as well to fulfill it, and then lastly you quote your price so the buyer knows what they are being offered and how much will they have to pay.
As I said all business proposals follow the same layout and carry the similar information but you should still take your time to make sure that it stands out. Each business proposal should show that how you and your company are different from the rest of the other companies present in the market. How your ways are more innovative and more effective than the other ideas they have been pitched.
