If you are into the business world, you will have a vague knowledge about proposals and their purpose. The emerging freelancers and entrepreneurs may not know how to make proposals for their clients. If you want to know how to write a business proposal, then you’re at the right place. In this write-up, you can understand the seven practical aspects of business proposals.
What is a Business Proposal?
Generally, a business proposal will be a written document that your respective client expects as a reference before awarding the business deal. It could be solicited or unsolicited. Your clients may ask you to send a business proposal if they like your idea. They may ask you to send a proposal on-call or trough RFP (Request for Proposal). RFPs will be in the form of documents. The document briefs on the required product or service along with the qualifications and deadlines for submission.
If a client decides to purchase from you and awaiting vendor selection then it is solicited proposals. In simple words, unsolicited proposal is a sales presentation made for a well-defined and limited activity. It is similar to an author pitching a book outline to a publisher where an argument goes on about the popularity of the subject, the novelty of the author’s approach and merits.
How to write the Best Business Proposal?
Here is the format and the content of the business proposal. It varies according to the industry. Even your proposals differ from one client to other. If you follow the exact format by including all the below elements in your business proposal, your business proposal will make a lasting impression.
1. Include a Title Page:
Your client will look at the page title first. Avoid using fancy and complicated fonts. Keep it clear and simple. Remember, your title page should be to the point and engaging. It should be a professional but appearance is not everything.
Ensure that you cover everything about your proposal on the title page which your client could understand at a glance. Here is the list on what elements you need to have in the title page.
- Should include your name or your company’s
- Include the date of submission
- Include the proposal maker name
- Your client names
2. Don’t forget Cover Letter:
The best business proposal won’t directly go into a proposal. Ensure you include some information about you or your company where a client wants to know about you and your business. It will be useful and professional if you include a cover letter in your business proposal, and it’s the best way to introduce yourself. A client also has trust in you and thinks to build a relationship.
3. A Business Proposal must have a Table of Contents:
Most of the business proposals will be lengthy. If that is the case, include table of contents. You may think it is unnecessary but your effort to help your client navigate through your detailed quote will work in your favor
4. Make sure you include a Practical Summary:
Summary of a proposal will brief your client like who you are and why you sent a business proposal. Make sure your outline is compelling and unique. You need to explain succinctly why your company is approaching the client with a proposal.
5. Think about a Proposed Solution:
Now, it’s time to discuss the proposed solution. Let your client know that you understand their requirement. Through your commitment on paper, win your client’s trust in your business and your commitment towards the requirement.
6. List the details of Services and Deliverables:
You need to include the details of services and deliverables after the above-mentioned elements. The best business proposal consists of what services and deliverables your client can expect from you.
7. Timeline and Rates:
Your clients also seek to know when to expect the results and the price you charge to achieve the results. Make sure you include the time of submission and the price you charge for the project. The timelines and costs are subject to change during negotiations , but your client will get to know all the aspects they need.
The best business proposal will have a call-to-action, one of the best ways to make your client accept your proposal. Request them to sign at the end of your proposal if they like your proposal. You can start working if they sign on the proposal as a contractual agreement.
All the tips mentioned above are pretty actionable insights to write a business proposal and drive serious outcomes. If you implement all these elements effectively, you will foster trust, clarify doubts, and help your clients understand the urgency.