It is not easy to start up a business from scratch and it is even harder to draft a well thought out business proposal.
For example, an investment proposal, project management infographic and or other similar documents are, just like that a Business proposal is a well defined and elaborate document that contains a lot of information regarding a new business setup that will provide solutions to certain problems and or cease a new opportunity in an unexplored market etc.
Remember the saying “First impression is the last impression”!? Well, it is a very true thing and especially in these terms, it matters quite a lot.
The title of your business proposal is supposed to persuade and captivate the reader and not make him or her skip right through it. It includes:
- Yours and your company’s name.
- The date of submission.
- The name of the prospect and his or her business etc.
2. Table of contents
Table of contents is the second most vital thing next to your business proposition title. It defines your whole business proposal and makes it easy for the reader to navigate the proposal.
Some prospects may be too busy to actually study your entire business proposal in one read so the table of content saves time by directly guiding the reader to the section of the proposal that they want to jump to.
3. Executive summary (Overview)
The executive summary of your business proposal is a brief of all your existing activities and your current position meaning that it is a succinct summary of almost every detail in your proposal. It includes:
- An introduction of your firm
- Summary of your Objectives
- A short description of your services and or product
- An insight into the market
- A view of potential Growth
It may happen that you may have certain documents related to your proposal in different files that you want to add into a single individual file of yours. You can add other performance-based infographics and other elements of your existing business onto this proposal document, and one of the easiest ways to do that is by merging your documents.
The PDF format is an industry standard document file format and is also a universal document format. It is one of the best tools to merge PDF files using a free PDF merger online that helps you combine all of your PDF documents into just 1 file saving you both time and space.
4. The problem statement + Competitive Research
This is one of the most important parts of the business proposal as it provides the buyer a solution to the problem that they are dealing with and that you can solve it.
It is very crucial that you present the prospect with your answer to their question.
- It let’s the prospect know that you have done research and are not hitting a casual sales pitch.
- This may even inform the client of a problem that he or she may not even know existed before.
5. The proposed solution
This part of the business proposal is a comprehensive section of the problem statement part if you want to explain further in detail your solution to your prospect.
Use this section to explain every detail you can regarding your solution and how you will provide it etc.
After the prospect reads your problem and solution sections he or she may agree to your solution but may not really trust you enough to know if you would actually deliver.
It is vital that you present yourself as a credible and trustworthy business that has a professional workforce.
Make sure that you put an emphasis on the work that you have done in the industry and what your top projects have been.
Provide any and every solid information about your best work as a business.
7. The timeline
The timeline section is the part where you display that you have assessed the time based aspect of your solution that you have offered.
It should contain all the details as to when you will complete the business setup etc.
You can illustrate this further by embedding a chart or timeline infographic that will reflect your timelines and will be easier to understand.
The basis of the timeline is to define to your prospect that you have made estimations as to when you can finalize the project and then clarify any concerns regarding the timelines that your prospect may have.
8. Pricing, billing and legal
In this section, you cover all the price, billing and legal based aspects of the business.
This part of the business proposal is used to discuss all the payment terms, schedules, methods, and legal regards in terms of your business setup.
It is also optimal to include within this section a price comparison table which can help further elaborate your prices and it also helps in giving your client some information to work with.
Do ensure that you do not overprice your deal and also not understate your pricing.
9. Terms and conditions
This is the second last part of the whole proposal. Summarize all the information above and provide a final outline.
Also, add in your expectations from your prospective client.
Reassure the client of all the timelines, payment, and legal details.
This is the final key part of the entire proposal and it needs to be as simple and straightforward as it can be.
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10. The acceptance
This is the part where your deal is finalized and where your prospective client signs their signatures thus accepting the deal and finalizing the partnership.
Ensure that you add in your contact details and that everything is in the right order so that you do not miss anything important.