A business proposal is a formal suggestion or plan from one party to another to buy, sell, partner with another or supply goods and services to them. 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 plan and a proposal mean two very different things. 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”. if one wants to raise an effective business proposal, the following are instrumental to understand first.
The first step towards an effective proposal is to clearly identify and itemize its objectives so as to ensure the purpose of the proposal is not derailed. This also ensures that the customer identifies early with the objective at hand early enough so that if they do not meet their needs they can know early. One has to make sure that the objective is measurable, realistic, time bound, as well as specific for it to meet its purpose.
All the relevant information should first be gathered before beginning the process of writing it down. Lets assume that one is writing a marketing proposal, it would be important to gather all the information regarding government policies, customer demographics, the buying patterns of the customers among other things. 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. This is often the first step towards building customer loyalty and trust. One should make sure that any analysis, material, ratio used is examined accurately to make sure that what is presented is objective.
4. Sort and Group Your Information: Sort and group your information under relevant headings, titles and sub titles.
5. Assemble the Grouped Information into a Presentable Document: This is the final step in preparing the proposal. All that one does here is to make sure that the information is categorized under different headings and subtitles. Titles and sub titles must also proceed in a logical sequence.