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What Is a Business Proposal?
A business proposal is a written document given to a client or an organization to persuade them into buying your product or service. Depending on the case, this can be solicited or unsolicited. What is important is for business proposal templates to be distinguished from estimates. Since its purpose is to persuade your clients to buy from you, then it should provide every last detail to answer their needs.
How to Write an Effective Business Proposal
Proposals are written when you want to create changes in your company or when you wish to market a product or service to your clients. But what if your proposal is rejected by the panel? Research from Infoteam (2014) states that the main reason why proposals are rejected is because of an unclear description of the solution and pricing of the proposal. Knowing this information, how will you create an effective business proposal that can persuade anyone who reads it?
1. Gather Information about Your Proposal
Take time to learn and understand your professional proposal. Identify your clients, consider what they need and take note of them. Check for other competitors and see what you have that they don't. Take note of your budget and deadline. If your proposal is accepted, do you have a sufficient budget to maintain labor and materials? Keep these things in mind but never overdo it.
2. Define Your Scope and Objectives
The next thing you do is to define your scope and objectives. It is important to stick to your objectives and never lose sight of your purpose. Answer the questions who, what, why, where, when, how, and why you made your business proposal. Writing these out gives you a head start on your proposal, but don't make it too broad. Give a reasonable limit in defining what you intend to discuss with your clients.
3. Estimate Your Costs and Services
Consider your business estimate cost. How much are you planning to charge your client? How much are they even willing to pay you in return? Set an overview of your company's offered products or services and anticipate questions to be asked why your clients will take up your offer. Describe every detail of what they can expect from your company.
4. Draft Your Proposal
Now that everything is settled, start drafting a list of your business proposal. Start with an introduction and summarize your business proposal; this will be followed by a body that details every information you want to promote to your client. The body shall include your pricing table, pictures, and charts to give it a clearer and enticing presentation. The last part of your proposal must include a conclusion on how your client should proceed.
5. Edit Your Proposal
Before you present your extensive or small business proposal to your client, make sure to edit it for errors and further adjustments. Pay attention to the tone and length of your proposal. Is it too long? Is it even persuasive enough to grab the attention of your client? Did it capture the need of your client? Make sure your words are simple enough for your clients to comprehend. Have it checked by your editor when in doubt or hire a freelance editor to review your proposal.
6. Send Your Proposal
Nowadays, people send their sample proposals via email but you can still send a hard copy of your business proposal to your client. Give your clients enough time to read your proposal and wait for the right time to make a follow-up. This proposal strategy is simple but significant because your clients are more receptive to a follow-up conversation when your proposal is still fresh on their minds.