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“Sales cure all,” declared the legendary Mark Cuban. If a company does not sell, it does not make money and, as a result, the company fails. That is why you must create business proposal.
A well-written business proposal can frequently be the difference between landing a new client or losing one.
We show you how to close more deals, make more sales, and crush your business goals in this in-depth guide on developing business proposal templates.
What Is A Business Proposal?
An effective business proposal is a document used by a B2B or business-to-business organisation (this is not always the case) to persuade a prospective buyer to purchase their goods or services.
A business proposal describes what your company performs and what it can accomplish for your client.
A widespread misunderstanding is that business proposals and business plans are interchangeable. The proposal’s goal is to sell your product or service rather than your company. A proposal, rather than supporting you in your quest for investors to fund your firm, assists you in your search for new clients.
Creating a business proposal is similar to building a house.
While certain features are always required, such as the foundation, the design of a house varies depending on location and the architect’s or homeowner’s choices.
Similarly, the components of a business proposal might vary depending on industry, company size, and a variety of other criteria.
A well-written proposal, like any other piece of writing, begins with gathering information and identifying the difficulties that your potential client is attempting to solve.
The Length
The average proposal length is roughly around eight to nine pages. However, longer does not automatically imply better.
“Short and sweet has a high conversion rate,” Upmarket Sales’ Josh Gillespie said. “Less pages and less fluff is preferable.” For transactional proposals under $10,000, a proposal should be no more than 10 pages and no more than 50 pages.” While you should provide all necessary information that prospective clients will need to make a decision, avoid overloading them with irrelevant details.
Types of Business Proposal
Unsolicited and solicited business proposals are the two categories.
- Unsolicited Business Proposals – In order to obtain a potential customer’s business, you approach them with a proposal even if they haven’t requested one.
- Solicited Business Proposals – A prospective client requests a solicited business proposal so that they can decide whether or not to conduct business with your company.
The other organization requests a request for proposal in a solicited business proposal . When a company needs an issue fixed, it invites other companies to submit proposals outlining how they will solve it. The processes to build your proposal are the same whether it is solicited or unsolicited. Make certain that it has three key points: a summary of the organization’s problem, a proposed solution, and pricing information.
How to Write a Proposal
Start with a title page
You must convey some fundamental information here. Introduce yourself and your company. Include your name, the name of your company, the date you filed the proposal, and the name of the client or individual to whom you’re submitting the proposal.
Your title page should strike a balance between engagement and professionalism. It sets the tone, so make sure yours is streamlined, aesthetically pleasing.
Produce a table of contents
A good user experience is valuable in almost every environment, and business proposals are no different. You must make things as straightforward and accessible to the folks on the other side of your proposal as feasible. The table of contents is the first step.
A table of contents will inform your potential client about the topics addressed in the business proposal. If you’re sending your proposal electronically, include a clickable table of contents that will take you to the various sections of your proposal for simple reading and navigation.
With a summary, explain your “why.”
The executive summary explains why you’re submitting the proposal and why your solution is the greatest fit for the prospective client. Specificity is essential in this case. What makes you the greatest choice for them?
Your executive summary, like a value proposition, discusses the benefits of your company’s products or services and how they can address your potential client’s problem. Even if they don’t read the entire proposal, the prospect should have a good sense of how you can help them after reading your executive summary.
Describe the issue or requirement
This is where you summarize the issue affecting the potential client. It allows you to demonstrate that you understand their needs and the situation they need assistance with. Here, research, critical thinking, and extra thought are essential. You must do your homework. Examine the exact challenges that your customer is experiencing and how you might assist in resolving them. Then, persuasively phrase them in a way that prepares you for the next step.
Provide a solution
This is where you provide a solution to the problem. This, like the previous phase, requires a focus on specificity and personalization. Make sure your recommended solution is tailored to the client’s requirements, so they know you made your proposal just for them. Tell them what deliverables you’ll give, how you’ll provide them, and when they can expect them.
Include your qualifications and pricing options
Are you qualified to address this prospect’s issue? Why should people believe you? Use this portion of your business proposal form to explain why you’re the ideal candidate for the job. Include case studies of client success stories, as well as any applicable awards or accreditations, to strengthen your authority.
Pricing can be tough because you don’t want to under- or over-price your product. Include an optional fee table if you want to give the prospect a few pricing options based on their budget. Some proposal software has responsive pricing tables, which allow clients to select the products or services they want and the price will alter immediately.
Conclude by summarizing and clarifying your terms and conditions
After delivering the preceding material, it is required to condense it into a single concluding piece. Summarize the proposal briefly. Discuss your qualifications and why you’d be the greatest candidate. Confirm your availability to start a chat. The goal at the end of the proposal is to get the client ready to collaborate with you. Provide your contact information so that they can quickly follow up with you.
This is where you become specific about the project’s timeline, cost, and payment schedules. It’s essentially a synopsis of what you and the client agree to if your proposal is accepted. Before sending the proposal to the customer, double-check the terms and conditions with your own legal team.
Include a section for signatures
Include a signature box for the client to sign, and make sure they understand what they’re signing. This is also an opportunity to provide a prompt for the prospect to contact you if they have any unanswered questions that you can answer.
Business Proposal Templates
PandaDoc can provide some excellent examples of business proposals.
We found that proposals made utilizing their templates consistently produced high-performing products for customers with minimal modification work. Examine some of the metrics associated with the top professional business proposal templates currently available in their template library.
HubSpot is an American developer and marketer of software products for inbound marketing, sales, and customer service. They have a collection of Business templates to look out for.
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