When you set up a business, be ready to create a business proposal. This particular document is used for a business-facing company. It can either for a seller to persuade buyers or an owner who is looking for investors. A lot of the revenue coming into your business would be based on these deals, so it's important to master writing a business proposal.
How To Write A Business Proposal
1. Creating An Interesting But Not Too Fancy Title Page
The title or cover will be the first thing your target sees from your proposal. While it would not contain a lot of information, but a compelling title will make a difference. What you should put on the cover is the name of your company, what kind of business you have, and the date you send it. In this case, you can add a picture. But make sure it is related to the title. You can say, make it interesting for your investor to read it.
2. Adding A Table Of Contents
Just like any other important document, you should include a well-laid table of contents. In many cases, people don't care about this part since it doesn't explain anything. But on the contrary, the table of contents will make your document scannable, easier to digest and add a bit of charm in it. This particular how to write a business proposal part will be very beneficial if the company you pitching doesn't have time for your entire file.
3. Writing A Summary Of Your Company
When you reach the third part, then you got more to explain. In this case, the executive summary will include your company introduction, goals, milestone, plans, and visions. Along with all those details, you will need to include any other relating details about your company. What you should consider is creating a very detailed and clear explanation about what the company does and the achievement. So, your target will be convinced.
4. Stating The Problem
The reason you are creating the proposal is that you have problems to solve. In this case, you need the other company to help to make it come true. That is why you should breakdown all the problems you face or the prospective investor is facing. Make it as if your problems and they are aligned, thus need a proper collaboration to solve it. In this part, you should be able to point out the problem.
5. Presenting Your Solution
As you explain all the problems for both sides, now you will need to convey your idea. What is the solution and how you are going to make proper problem-solving ideas? Your proposed solutions are the tools to impress your investors. It can either help or reduce their impression of you. That is why you should proper it carefully and think thoroughly regarding the solution and the method.
When you get very thorough problem statements, it is better to make separated solution parts. It will make you breakdown all your planning and solution. This can be a great way to show how ready you are and how thorough your research is. You got the chance to explains everything from the solution, how you deliver or writing it, and how you will include it in the timeline of the project.
6. Providing A Timeline
Even though you got a great insight into the problem and the solutions, there is nothing more supportive other than showing your qualification. The next how to write a business proposal is by mentioning your qualifications. From your experiences, achievements, awards, certification, etc. Along with it, give the timeline on how ready you are. Tell how you will do everything and the planning. From the starting point to the end of the line.
7. Clarifying Pricing And Legal Matters
After you tell everything about the plans, problems, and solutions, then states what you need. In this case, you should outline the financial and legal aspects. While you do not now have the money in hand, you should estimate the pricing and billing. It can be very hard to do, but the best way to appeal to your target is by creating options. You can provide comparison tables to help them understand.
Be considerate yet don underestimates your clients or potential investor. What is means by this how to write a business proposal is that you should not make a big estimation that scares the investor. Make sure the number makes sense for both you and the investor side. Think about how if you are unable to get the deal and should do it alone. That is why make sure everything is not too exaggerated but also not undervaluing them.
8. Defining Your Terms And Conditions
This part is very important since you will summarize every piece of the proposal. This part includes everything from the start to the end, from planning to payment and legal. If you are not sure about how to create it, you can consult the legal team on the company. To make it even better, you can hold a meeting and work in Co-working spaces through BOOQED.
9. Getting Approval Through Signatures
The last thing you should make is the acceptance part, which is used to seal the deal. It is quite literally since as the client read the proposal, and agree, they will need a place to sign the contract. That is why how to write a business proposal will end with the small section where all the signatures are gathered along with the contact information from both sides.
A well-made business proposal is one way to secure collaboration between your company and others. With that said, you should understand how to make it correctly. The eight steps are related to the crucial parts of the documents. You should not skip anything, just because it is a lot to do. All because the better you tell about the intention the more convincing the proposal is.