The term business proposal refers to a suggestion to work with another person to be able to supply or sell goods or even services. To this end, a business proposal can be a sales proposal, marketing proposal, and partnership proposal involving joint cooperative strategies, a business formation proposal or even a funding request. It is however important to understand that there is a difference between a business plan and a proposal. 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. The party to be addressed in the business proposal is therefore the customer. if one wants to raise an effective business proposal, the following are instrumental to understand first.
One should be able to first identify the proposal objectives to ensure that its purpose 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. For instance, if you are preparing a marketing proposal, you will need to gather all necessary information about the market, your competitors, the product, suppliers and distribution information, customer demographics, consumer buying patterns, government policies affecting the market or the product etc. the importance of having this information at hand is that it will help you in addressing all the issues that may happen before hand.
3. Validate the Information: The validity of the information you present to the customer portrays your level of integrity and attention to detail. having validated information is the first step towards building customer loyalty too you. One should make sure that any analysis, material, ratio used is examined accurately to make sure that what is presented is objective.
The other step is making sure that the information gathered above is correctly grouped under different headings.
The final document is all about presenting all the information collected and put under different subtitles under one document. The last step generally involves properly categorizing all the information that you have obtained above to make it look presentable. Keep in mind that all the titles and subtitles are in the correct sequence.