According to professor Clayton Christensen of the Harvard Business Review, at least 30,000 new products are launched annually. Imagine how many more proposals were rejected before this number came up? There are probably more. This is why you need a highly efficient business proposal to present you and your offer. You may have the best entrepreneurial idea, but without a presentation of a good business plan, no one will be interested in investing in your concept or purchasing your product. For an idea on how to make your business proposal look satisfactory, refer to the templates below.
A business proposal is a persuasive pitch commonly used by business-to-business (B2B) industries in presenting goods or services to a prospective consumer or sponsor. It contains the details of a certain product or a project plan and its underlying costs. It serves as both a comprehensive and informative document and a compelling sales offer.
Aside from presenting an excellent sales pitch to your clients and investors, what other benefits can you gain from a business proposal? According to Chron, among a business proposal’s strength includes its ability to provide a clear framework for your visions. Because you’re trying to convince your audience to take a chase on your product, it prompts you to evaluate it’s every nook and cranny, letting you have a clear perspective of your objectives. This also allows you to evaluate potential risks and make efforts to prevent them. Your ways to understand the outcome of your products will propel you to build a roadmap towards its success, so you won’t have to worry about what steps to take next.
A business proposal is only beneficial when done well. A faulty document would fail to deliver its purpose because it has gaps that need fixing. If you want to make a flawless business proposal, start by following the steps below:
Before you can even present an educated claim or a relevant business proposal idea, start by knowing what your target audience may want. Do a market analysis to identify their needs, preferences, and the existing trends that significantly affect their purchase decisions. Knowing this helps you present your pitch better because you’ll be able to show to your clients or investors how your business plan will sell to the marketplace. It also helps you assess your existing project scope and see if there are marketing opportunities that you can integrate to make it better.
This is the core of your document because this shows what your service proposal is all about. This will present your products and services information such as its objectives, milestones, features, operational process, proven effectiveness, production needs, possible costs, and the key role players in making everything happen, among all others. You should present all of these in a detailed yet brief length.
It’s easy to claim success and positive outcomes in mere statements, but where’s the proof? Be sure to back any of your claims with reliable data to solidify your pitch. This is why you should do thorough research before putting together a project proposal. If you assure your business partners that they should expect an increase in sales, show them the result of your cost-benefit analysis. If you want to make them believe that your product works, gather testimonials. It’s also reliable to incorporate quantitative data so you can also use charts and graphs from reputable statistical sources to verify your project’s relevance.
Make your business proposal comprehensible and easy to scan by categorizing each part accordingly. Label all portions so the reader can easily identify the different parts of the proposal. To make your layout more engaging, you can also use infographics and charts to present your points. It’s also important not to make your entire copy wordy and lengthy because a long output would most likely fail to make an impact because it takes too much time to read and analyze its content.
A business proposal has three different types according to its purpose:
The elements of a good business proposal include:
The US Small Business Administration suggests that a business proposal should be 30 to 50 pages long.
An excellent idea remains abstract unless acted upon. If you have a business venture that you’re confident about selling to the market, don’t hesitate to take the risk. And when you do decide to pursue it, partner your determination with a reliable business proposal. The entire document can be lengthy and challenging, but here’s the good new: you don’t have to try too hard. Get your proposal from our template collection above. They’re all written professionally on a high-quality layout. Download now!
