Business Proposal Format
The format of a business proposal differs from one business to another. But there is a certain format the generally applies to all.
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- Title page. All proposal should have the title page summarizing your core idea.
- Table of contents. Providing this depends on how long/complicated your proposal is.
- Executive summary. Write a good executive summary that will sell your design proposal.
- Problem. Discuss the problem you’re trying to solve with your proposed business.
- Approach and methodology. What are your objectives and how you plan to do it.
- Qualifications. Explain why your team and project merit approval.
- Timetable. How long your project will take.
- Finance. The cost and expenses of the project.
- Benefits. What investors can get from accepting your simple proposal.
How to Write an Attention-Grabbing Business Proposal Cover Letter
The cover letter of your business proposal letter is as important as the content of your proposal. Not having or poorly written cover letter is often the reason why the proposal will be rejected. Here’s how to do it right.
- Provide a header. Write the name of your company, address, and contact information.
- Address it to the right person. Write the full name and the position of the person. Address him too with a proper salutation.
- Grab the attention of the reader. On the first statement, immediately grab the attention of the reader to make him read your proposal.
- Provide your qualifications. Show why you and your proposal is qualified to do the job.
- Show your interest. Ask if you can call or set up a proper meeting with them.
- Close the letter. Close it with polite closing remarks and show gratitude.
Aspect of a Winning Business Proposal for Clients
- Research what are the requirements and needs of the client so that you are technically competent for the job.
- Empathize. Develop a feel for the client’s needs.
- Develop reasonable, actionable steps or a methodology to reach those needs directly.
- Demonstrate your unique management skills and strengths in meeting the client’s needs.
- Identify a solution and evaluate it from different perspectives. Is it a win for everyone involved?
How to Define Your Customers in Your Business Proposal
We all know that the customer is the most integral part of any business; without them the business would be all for nothing. So it is important that on the business proposal and in your business plan the customer is well defined. When it comes to presenting your proposal the readers know that you value your customer.
When you are profiling your customers, consider these aspects:
- Geographic. This term describes where your potential customers or target markets live or reside. When you have this information, you can easily target your marketing into a specific place such as countries, regions, cities, states, and so on.
- Demographic. This term describes the actual information of your customers, such as the age, gender, religion, nationality, education level, occupation, etc. By having this information, you can specifically target your product to the appropriate customer.
- Behavioral patterns. It is not just how your customer behaves in relation to the business but it describes how the customer buys. This includes when they usually buy a specific item, why do they buy this item, and how often they buy. Also included in the behavioral pattern are the information such as their loyalty to your business and their purchase decisions.