Business Proposal

What is a business proposal? “…a request by a business or individual to complete a specific job or project; to supply a service; or in some instances to be the vendor of a certain product.”

…a business plan … an estimate A business proposal can be… solicited or unsolicited What is a business proposal not? …a business plan … an estimate Not a business plan: Well, for one, a business proposal is directly from an established business to a prospective client. You’re trying to sell your prospective client on your product or service, not on your business itself. You’re not after funding, as you are with a business plan, but rather after their business. Not an estimate: although you’ll likely touch on costs and outline these details in your business proposal, an estimate is much more informal and just a quick look at the costs, not the whole picture.

How to write a business proposal? https://www.youtube.com/watch?v=6hTgHTcFx7Y

The Scope Who? What? Where? How? When? Why? Who: who will do the work, who will manage the work, who does the customer call if there is a problem, who is responsible for what? What: what needs to be done/delivered, what will be required to do it, what can the customer expect, what will it cost? Where: where will the work be done, where will it be delivered? How: how will be work be done, how will it be deployed, how will it be managed, how will you achieve quality assurance and customer satisfaction, how will risks be mitigated, how long will it take, how will the work benefit the customer? When: when will you start, when will key milestones be scheduled, when will the project be complete, when is payment due? Why: why have you chosen the approaches and alternatives you have selected, why should the customer select you?

Business Proposal Format Table of Contents Introduction Executive summary Body (problem statement, problem solution, pricing) (don’t forget to include caveats/disclaimer) Conclusion Appendix

Business Proposal Format Executive summary “Your executive summary is your pitch. ” It should introduce you, your business, and your product, but the purpose of writing an executive summary is also to deliver a hard sell. Convince your reader here that you have a great idea they should invest their time and money in.

Business Proposal Format Statement of problem, issue, or job at hand Approach and methodology Qualifications Schedule and benchmarks Cost, payment, and any legal matters Benefits Discuss the problem that the client is currently facing. Think of “problem” or “issue” loosely; restate the issue they are facing in your own words, so that they know you understand what they are looking for. How you plan to tackle your potential client’s problem, and the steps you’ll take to carry out your plan. Brag! Why you are the most qualified person to take on the job….education, training, past successful projects … Be clear with your potential client: How long will your proposed project take? Don’t promise what you can’t deliver! State the cost, and payment schedule if necessary. This is your final sell—Impress upon your clients why you are the best choice, and all the ways in which their business will benefit from choosing you and your business as their solution.

References http://articles.bplans.com/whats-the-best-business-proposal-format/ http://fitsmallbusiness.com/how-to-write-a-business-proposal/