As important as business plan is to your business, so is writing a business proposal. It is important for every business person to be sound in writing a business proposal.
Whether you are writing a proposal in response to Call For Proposal (CFP) or requesting for sponsorship from a company, you need to write a captivating proposal.
Before you write a business proposal here are what you need to do first; if it is Call For Proposal.
Study the Call For Proposal
It is very important to understand the details of the Call For Proposal before writing your proposal.
Read the requirements for the proposal carefully and the time frame to complete the project.
If you did not meet the requirements it is of no use to write a business proposal because they cannot choose you.
While planning on writing your business proposal, you should try to put yourself in the shoe of the company you are writing to.
You can also meet with workers in the company to know more about what the company want and how they love their project to be executed.
Ask yourself questions like; what is the time the project is expected to be completed?
How did the company want the project to be done?
What are the terms and conditions?
What did the company want to use the project for?
Analyse the project
Before writing your business proposal you should analyse the project very well to make your proposal efficient.
You should analyse the time it will take you to complete the project, labour cost, capital cost, how you will execute the project, what will you need to execute the project, which other company will you bring into the project and so on.
Write your business proposal
After all the steps listed above, the next thing to do is to start writing your business proposal. Here is a format you can follow for your proposal.
The title page is where you will write;
- Your name
- Your company name
- Name of the company you are submitting to
- The date you submit your proposal
Your introductory page should talk about your company and your proposed solution to the company problem briefly.
Summarize the ways you want to solve the company problem, your summary must be able to catch the attention of the company you are writing to.
Table of content
Though this is not important, but it is advisable to use table of content when your proposal is voluminous, but brief and detailed proposal is better.
Identify the company problem
Here you have to show the company that you understand their problem in detail.
Identify the problem the company is facing and state if there have been prior attempt to solve it by the company.
Propose your own solution
After identifying the company problem, propose the best solution you device to tackle the problem.
Make sure your solution is visible and it have at least 70% probability that it will solve the problem.
After proposing your solution, it is important to include how you are going to tackle the problem.
List the step you will follow in solving the problem and if you will need another company help to solve the problem, state it in your proposal.
Select company with good reputation into the plan. Also give the time you are going to finish the problem.
Include your budget
You have to state clearly all your expenses and the amount you are going to collect for the task.
Include all the material you will buy and their amount.
It is very important to give the company terms and condition to avoid future problem.
Let them know how you will collect your payment, terms for stopping of project and late payment terms; for example,
- Our company will collect 50% of the contract money before we start executing your project.
- There must be 14 working days notice before stoppage of project.
- Late payment will attract 15% increase in price.
This is not important, you can decide to list the certificate your company has and the award won over the years.
Submit your proposal and follow up
After you are done with your business proposal, the next thing to do is to submit it and make sure you follow up.
Call the company to ask about your submission and make yourself available if they have any question for you.