The term business proposal refers to a suggestion to work with another person to be able to supply or sell goods or even services. A business proposal means many things ranging from a partnership proposal, marketing proposal or even a request that mainly involves cooperative actions of many people to make it a reality. A business proposal is quite different from a business plan. Whilst a business plan is primarily put together to guide the formation and establishment of a new business, new business idea, business unit, strategic business expansion or extension, a business proposal on the other hand is designed to attract another party to get involved in the execution of a business plan, the business itself or the product and services the business has to offer. The other difference is that a proposal is made to address the needs of the targeted potential shareholder while a business plan addresses the needs of the business. I would like to refer to this party as “the customer”. The following steps are instrumental towards the writing of an effective business proposal
1. Clearly Identify and Itemize the Proposals objective: The customer does not always have all the time to go through the business proposal, there is therefore need to make sure that you lay down the objectives very early in the process in order for the customer to identify with them. The objective laid down should be measurable, time bound, realistic as well as specific.
All the relevant information should first be gathered before beginning the process of writing it down. If an individual intends to have a marketing proposal, it would be important to write down all the information regarding this like the customer preferences, buying patterns of the customers, government regulations related to this if any among other factors. the importance of having this information at hand is that it will help you in addressing all the issues that may happen before hand.
One should make sure that the information presented to the customer is validated because it shows how attentive to details one is. having validated information is the first step towards building customer loyalty too you. Every figure, ratio, analysis and material upon which decision is based must be examined for accuracy and dependability.
The other step is making sure that the information gathered above is correctly grouped under different headings.
5. Assemble the Grouped Information into a Presentable Document: This is the final step in preparing the proposal. At this point, you assemble the sub titled document under the appropriate titles and headings. Keep in mind that all the titles and subtitles are in the correct sequence.