Writing a business proposal has not be an easy task. Many business proposal fails or succeeds because of how good or bad their proposal is. This is the reason why we have undertook to write this article today on How to Write a Professional Business Proposal.
A term of business proposal is a written offer from a seller to a prospective buyer. Business proposals are often a key step in the complex sales process. For instance, whenever a buyer considers more than price in a purchase, business proposal solves the matrix. Note however, that Effective business proposals must contain an executive summary, key project details, and require a client signature. Some of these key elements includes the executive summary, project details, timeline, terms, and cost, as well as a conclusion and signature field for the prospect.
How to Write a Professional Business Proposal – Five Easy Steps
Before writing a proposal for business, you must first of all identify the purpose. This will help you in the procedure to follow. Generally, the purpose of a business proposal is to convince the reader to see a particular thing or idea the same way that you see them. Thus, your goal is to persuade the reader to make a change that will make your proposed idea a reality.
Hence, this article is dedicated to teaching you the Five Easy Steps on How to Write a Professional Business Proposal. If this looks like what you are looking for, then kindly follow us.
- Source all the information you need about the proposal.
- State the scope of the project or the proposal.
- Begin writing your business proposal with step to step guide
- Edit your proposal to check for errors
Lastly, Submit your Business Proposal and Follow Up
At this juncture, we shall carefully discuss all the above steps here immediately.
A. Source all the information you need about the proposal
To compose a professional and strategic Business proposal, you must first sources all the information and data about the topic. While writing a proposal, you must also take some effort to find out about the customer and task first will enable you to create a recommendation that is bound to be acknowledged.
Andy Freivogel of Science Retail who is a leading expert on How to Write a Professional Business Proposal stated thus: a straightforward standard guideline is to send a proposition after your first gathering. Incorporate an individual note that goes about as a development: “Hello it was incredible interfacing a day or two ago… “, then add your proposal. Note that a proposal will not win if you fail to uncover the customer’s true decision criteria and decision-makers.
However, there are exceptions to this rules. For example, if a business has multiple offices/locations, you may need to visit more of them before you can accurately assess the project. In this scenario, timing requires the right balance: You don’t want to send a proposal prematurely— especially if you can’t accurately estimate costs— but you also don’t want to provide too much free labor.
Tips o How to be Efficient: Make Use OF a CRM to Stay Organized
CRM systems helps you manage your proposals and keep them organized. It will store your leads/contacts and periodically notify them. Some good CRM Softwares are efficiently in gathering the required information so as to help you in writing the proposal.
With Insightly Crm, you can Grow your business faster by building lasting relationships with your customers, through every step of the customer journey. It create an “Opportunity” for each potential deal. It stores contact information, meeting notes, documents, emails, and other key information. Then, update the opportunity stage (shown above) as you move along.
Lastly, Insightly can help you manage a lot more proposals more efficiently and help you keep track of which proposals have been sent to each client.
B. State the scope of the project or the proposal
Writing a professional business proposal or how to write a business plan have never been easy. That is why you must take some time to reflect on the project you are writing. So. you should be able to reflect and answer the following questions.
These questions are:
Who: who will do the work, who will manage the work, who does the customer call if there is a problem?,
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?,
When: when will you start, when will key milestones be scheduled, when will the project be complete, when is payment due?,
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?,
Why: why have you chosen the approaches and alternatives you have selected, why should the customer select you?.
If you are able to answer all the above questions, then you are set to go. Remember that the above questions will form the bulk of your proposal. So you need to write them thoroughly.
Tips: Estimating Labor and Costs
Before writing, you must estimate and calculate how much the proposal will cost you viz aviz the amount to charge the customer. AAs Andy told us, many businesses use a simple formula to estimate their labor costs: Take a mental walk-through of the project & write down the realistic number of hours it will take for each task. Add all of this up, and multiply it by 1.5.
So, if for instance, your proposal task l take s10 hours, record it as 15 hours in your proposition. (10 * 1.5 = 15)
You may want to ask Why overestimate? In spite of how it appears, this isn’t to press any additional bucks out of the clients. Or maybe, this is on the grounds that undertakings frequently have sudden wanders aimlessly. Including this additional time will help represent any potential tangles. In addition, if everything goes easily and you end up underneath your assessed hours, you can generally offer reward work, or bill your customer a lower sum. Both will make for exceptionally glad clients.
C. Begin writing your business proposal with step to step guide
This is where the bulk of the proposal work is done. So here we shall talk about the the proposal document. Many Proposals tend to follow a loose formula: These formula start with an intro that summarizes your business and the project. It is also followed by a body that contains a detailed writing. This details includes the pricing table, photos and charts etc. Lastly, it comes with a conclusion that tells the customer how to proceed.
To help you understand this, stage, we shall divide it into some sections and they includes the following:
- Executive Summary
- Table of Content
- Body of the proposal
Section 1: Introduction
The introduction should start by introducing your company. You should also give a good description of how the mission of your company will benefit your potential client’s and satisfy their needs. You may decide to add a brief story that that helps to build trust and influence your client to like your brand.
Furthermore, may also decide to add what makes your company unique and better than the ones out there. You can state your company’s accomplishments, credentials, and awards if any.
Lastly, it is also good to consider the length of your introduction. But note that there is no specific length required. I advice that is should not be too bulky yet comprehensive. For instance, If you’re proposing a one-day rug cleaning job, you don’t need to spend more than few sentences describing your business. But if your proposed contract is a big one, you’ll probably need to spend a lot more time describing your core business values. Despite this, make sure it is not bulky.
Section 2: Executive Summary
The executive summary is one of the most important sections in your proposal. This is where you should present the case for why you are the right company for the job, and give the reader the takeaway message of the proposal.
Thus, because of the importance of the executive summary, You should not try to summarize every aspect of the proposal. So you must concentrate on the major points you want the reader to reach after reading it.
As an advice, make your Executive summary very rich and attractive. Your language should be factual and persuasive. Note also that this section should not be bulky at all yet very rich.
Section 3: Provide a Table of Contents (Not compulsory)
At the third stage, you are adviced to provide a table of content. This is not compulsory but for big proposal, A table of contents can be helpful. If you decide to add table of content, you must List each section (and subsection) with their corresponding page number.
Section 4: The Body of the Proposal
The body contains detailed explanations of how you will do the work, the people involved, your prior successful. This is where you can answer the “who, what, when, where, how, and why” questions that you identified in step 2. Include information on scheduling, logistics, and pricing. You can use data charts to illustrate key concepts and can also include testimonials from past clients and a link to your website.
Lastly, the body of your proposal should follow the details presented your overall case in the Executive Summary. Then you can can outline the specifics of your proposal.
To learn more about Business proposals, please click here:
The body should Include your caveats
The body is additionally where you incorporate caveats, or disclaimers about the sort of work you can convey. As Andy clarified, this is one of the most significant pieces of your business proposal – and perhaps the trickiest workmanship to ace.
At the time, this doesn’t appear to be a major ordeal – after the entirety of it’s simply an issue of connecting ethernet links to the telephones. Weeks after the fact, notwithstanding, you start accepting calls about telephones that aren’t working. Inadvertently, you made yourself obligated for a framework that is not by any means your claim to fame.
To maintain a strategic distance from this kind of obligation, you can compose caveats – both about the sort of work you offer, and for your evaluating.
This is an Example of a Caveat
An example of a caveat may be in this form: “[Your Company Name] will service all technical issues involving [Your Specialties]. We reserve the right to charge extra in the of an issue that is not listed above.”
However, in case you don’t want to include so many caveats that your client is scared away. This is where the “art” of how to write a business proposal comes in. All you have to do is to put them in such a way to show all your disclaimers in just one sentence.
Section 5: Conclusion
A conclusion maybe like your introduction. Here you should restate your company competence and main points for the reader. You can usually do this in one paragraph. In the following example, the thesis statement is in bold. Notice that it is written in 2 sentences. The conclusion also calls for action plan of the proposal that encourages the reader to contact you or visit your website for more information. Ideally, you want your client to take an immediate action, even if it is something small.
Section 6: Appendix
The Appendix is the last section. Although it is optional, but it is very very important. The Appendix section allows you to include information that might not fit well in the body of your proposal. For example, you can include resumes or additional graphs, projections, and customer testimonials.
Why Should I Set a Deadline for my Proposal. Is it Necessary?
Generally, It is not necessary to set a thing limitation or deadline on your proposal unless there is an actual deadline.
Setting deadline was a common sales strategy in the past, but many business owners have veered away from this practice today. The only time you should use a deadline is when your resources are limited depending on the time frame. For instance:
- The cost of resources: Where the price material or resourced like electronics, raw materials, and even some foods (Lobster anyone?) can fluctuate and change market price, then time limitation may be needed.
- How and Where to get Resources or Materials: If the availability of your contract material or resources depends on times and seasons, then it is good to put a deadline. However, this must be explained to your client in the proposal.
D. Edit your proposal to check for errors
Before you conclude and send your proposal out, you must first and foremost proofread them. It it becomes possible, you may send it to somebody else to read and edit for you. This is because another person can spot errors you may not have noticed.
Additionally, You can always choose to hire a freelance editor to review your proposal.
What should be the Tone of may Language and How Long Should the Proposal Be ?
You must make sure that your proposal,is not too lengthy. If it becomes too lengthy you reader may loose interest. It should be moderate and comprehensive. Your languages should not be ambiguous yet professional.
E. Submit your Business Proposal and Follow Up – How to Write a Professional Business Proposal
One of the big task of writing a Business Proposal comes after Submitting or Sending out the Proposal. This is because, you need to do a very good follow up your proposal if you really wants success.
Most businesses uses email to send and receive their proposals, it’s fairly easy to decide when to follow up. Below are the two best ways to follow up your business proposal:
- By using an email tracking software: Email tracking software allows you to receive notifications when the recipient opens your message and whenever he makes comments on it. It gives you day to day feedbacks.
- By physical follow up. the next morning to see if they have any questions.
There are various Companies that offers Email tracking service softwares. A good example is the Insightly CRM. All you need is to Simply login to Insightly and head to “Contacts.” Find your potential customer and click on their email address. Write your message (either from scratch, or using an email template), attach your proposal, and send.
After, go to the “My Emails” and click “Sent emails.” Once you Locate the email you sent you’ll be able to see exactly when your recipient opens the message.
When is the Best Time to Start my Follow Up
The best time to follow up your proposal is when your proposal is fresh on their mind—whether they gave it a full read through, or just a quick glance. The only means to know this is by Utilizing email tracking tools, like those offered by Insightly. This is a tool you can take to master the follow-up process.
Now That You Have Won The Contract, What Next? – How to Write a Professional Business Proposal
If you’ve been using a CRM to manage the proposal so far, it’s the perfect place to continue managing your projects. With an organized software in place, you’ll see many different perks. For instance, you will be able to:
- View the status of every project at a single glance
- Know precisely who is responsible for what (and prevent any hold-ups)
- Automatically assign tasks when a project reaches a new stage
- Generate reports to forecast income, measure productivity and much more
While writing e a business proposal, the first and best thing is to try and think like your client. This means you should put your client in your shoes.This is my final conclusion for you.
Thank you so much for reading this article today on How To Write A Professional Business Proposal. Hope it was help?
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