In today’s business world, the need for a well written and winning business proposal is at its peak. With a lot of businesses (both new and old) creating stern competition, the competition to win a contract to provide either goods or services, a proposal can more or less keep you in business or mar you’re your business. That to say, the need for a proposal writing skill is a must-have for a contemporary entrepreneur and business owner.
Unfortunately, few entrepreneurs and business owners can come up with good quality and winning proposals thus the reason we here at 9JATODAY.COM is taking the time to show you the most effective ways to write a good proposal that is sure to get the bidding in your favor. Its often said that for a business to succeed, it requires only a good business plan and a great business proposal to go with it.
Therefore, you need to learn all the intricacies of writing a winning proposal either for your business use or as a freelancer and get paid for writing a business proposal for individuals and businesses, either way, this article is for you.
What we ten to cover in this article:
- The need for a Proposal
- Definition of a business proposal
- Writing process
- Component of great proposal.
- Criteria for writing
Without wasting much of your time let’s get started
Need for a Business Proposal:
Are a business man or woman, an entrepreneur and you have the most fantastic business idea, probably it hit you, it came to you through a dream or it flew to you, maybe it was trans or whatever source through which it cam 😊 how do you communicate it to your audience?
A business proposal helps your audience to understand your ideas and plan, method and strategies to developing that idea.
A business proposal is a well-written document from a seller of a product or provider of a service to his prospective client in order to provide a specific product or services.
Business proposal Types:
There are basically two categories of a business proposal and are classified as –
- Solicited and unsolicited proposal
- External and internal business proposal
As the name implies are a proposal that is requested by the firm or company in need of the product or service to which its tender.
These types of proposals are not requested by the buyer. Small business owners write such proposals to large businesses when they desire to do business with them.
This is the type that is written by and for the same organization i.e. a proposal from one party to another within the same organization.
This proposal is written from and for an organization outside your organization. That is, it is from one organization to another.
conclusively, from the explanation of the types above, we won’t be wrong to say that we have 4 types of proposals namely, Solicited, Unsolicited, Internal, and external.
Enough already, let’s dive into the writing process.
Essential Elements in Business Proposal:
To write a powerful winning proposal there are certain components/elements you must include and these are:
Many writers and experts believe this component is not necessary, they always tend to justify that by saying no one wants to discuss problems. But from experience, I strongly believe and recommend you start off by writing a short lead paragraph on the company’s problem/needs. Note, there won’t be a need for your product if there is no such problem or need.
Don’t just write on the company’s problem/need, obviously, they know these needs exist, so after you must have stated the need/problem, immediately follow up with the solid presentation of why and how your product or service is the solution they need.
NOTE: Keep to your reach i.e. only promise solutions that you can come through with your product or service.
Here, you will state clearly why your business should be their best choice. Why would they want to work with you? State clearly all your pros and what they stand to gain from working with you. If you can meet tight deadlines, state it alongside other benefits.
Are you experienced in the field for which you bid for? Have you worked with other companies in that same capability or more that you which to be selected for?
The key here is to recommendations or references from other companies as this builds credibility.
Providing product samples or evidence of your ability to deliver the proposed services along your business proposal is vital to winning the bid.
You have to realize that your proposal will be read by someone, so communicate in the most suitable ways. Use necessary jargon as related to the field, this way you are also proving your worth.
Writing Process for Business Proposal:
Basic Elements: A well-written business proposal should have the following-
- Cover letter
- Table of content
- Executive summary
- Introduction and discussion
Well Written Business Proposal Template – Click here to head to our forum to download our template
Read Also: How to Write an Effective Business Plan
Title> This page provides the companies contact details from which the business proposal is sent from and where it is being sent to. [ note this applies only to external Proposals]. Also, the name of the writer and the name of the manager of the receiving company.
Cover letter – the cover letter gives an overview. It should contain
- The purpose of writing
- The subject matter
- Date and Time.
Table of content- these make it easy just like the navigation sidebar on websites. It makes it easy for the reader to select sections of interest. [ see the template for better understanding]
Test of illustration- for business proposals containing figures or tables, provide a clear informative list of illustrations.
Executive Summary- these are a brief overview of the key point contained therein. It covers the problem, solution, and benefit.[ please download the template provided. Us the comment box below to add or ask questions.]