There are tons of opportunities that are available for your business. People around you are in need of your products and services. However it is very possible that you have not seen or noticed them. And if you have, then you want to find the best way to access them. You want to create a document that will expressly show the value you want to deliver and be sure that you are sending the right message to your clients. You want your client to know that you are bringing the best offer to the table. It is also very important to note that the main factor to reach them is more than the solutions you provide. You have the solution, yes, but you need to actually find a way to reach out to your potential audience. Now this is where business proposals come in.
The whole business world is filled with unaccessed opportunities. Before we dive into how you can maximize your chances of success with our proven business proposals, let me first walk you through what a business proposal is and why your business needs a professional one.
What is a business proposal?
A business proposal is a document that is written by a company to another company (the client) to obtain a business agreement. The business proposal may be sent after a request for proposal by the potential client. This of course will be because they are impressed with the products and services you offer. However you may not have to wait until it is formally, or in another case, informally requested for. You can also send a business proposal without any request for it. This type of business proposal is referred to as an Unsolicited Business proposal. It can be likened to sending cold emails.
The business proposal could be delivered physically or digitally. Business proposal closes the breach between you and your potential clients. With a good professional business proposal, you are able to clearly state the value your products or services will provide. This way, you can convince and win over the client company or organization to go ahead with an agreement to do business with you.
Why do I need to write a business proposal?
The main purpose of a business proposal is to draw the attention of your clients or potential clients to what your company does. If you realize that the service you provide solves the challenges of a particular company, then you should start looking into writing a good professional business proposal in order to convert them into clients.
Business proposal vs business plan
These two terms are often used interchangeably, however they mean two different things entirely. I will be giving a precise definition so we can be clear on what they both mean. A business proposal and a business plan have different goals they are written to achieve. A business proposal, as defined above, is a document that is written by a company to another company (the client) to obtain a business agreement. Business plan is a document that shows the vision of the business and the process you plan to leverage in order to actualize that vision.
Business plan contain the financial prediction of a business, an overview of the operations cost and even projection of the profit to be realized. A business plan shows everything needed for a company to grow. A business proposal is to be presented to a potential customer to request for a business agreement and opportunity.
Important things to note before writing a Business proposal
Before you write a business proposal, it is important that you have a good knowledge about the company you’re sending to. In a case where the company sent you an official request, also known as request for proposal (RFP), great! This shows they are interested in the products and services you already offer. In order to pitch your business in the best way possible, you have to make sure you go through the RFP thoroughly. This way, you can know precisely what their pain point is and what they specifically want from your business.
You can request to have a call with the company before starting out in writing your proposal. You can also schedule a meeting, in case you do not want to schedule a call. All of these will help you have a clear view and a full grasp of the precise solution they need. You will be able to tailor your business proposal in line with their objectives. After your research box has been ticked, then you can proceed to start putting your business proposal together. There is no general rule as to how a business proposal should be written. However, you can maximize your chances of success with our proven business proposals.