If you’re like most entrepreneurs, you know that a well-crafted business proposal is essential to success. After all, your proposal is your opportunity to make a powerful case for why your business should be chosen over the competition. But what if you’re not sure how to go about creating a business proposal?
When you are starting a business, one of the most important things you will do is create a proposal. This document will outline your business plan and convince potential investors or partners to invest in your company. Here are some tips for creating a successful business proposal:
#1. Start your business plan proposal with a strong introduction
The first few sentences of your proposal should capture your reader’s attention and make them want to read more. Think about it, lose them here, and it really won’t matter much whether your proposal has great content. That is why it is important that you grab your audience right from the start.
Be sure to clearly state the purpose of your proposal and what you hope to achieve with it.
#2. Outline your business plan proposal
The body of your proposal should outline your business plan in detail. This section should include information about your company, its products or services, and how you plan to make money.
As an investor or potential partner, these are probably the most crucial information you will need. That is why it is important to be detailed yet clear your proposal is when it comes to this.
#3. Present your competitive advantages
In this section, you should highlight what makes your company unique and why potential investors or partners should choose you over the competition. Investors would really want to know why your product or service is just a tad bit better with what is already out there.
#4. A good business proposal sample should have the financials
Estimate the money involved with starting and running your business. This section should include a breakdown of the financial resources you need to get started and how much it will cost to maintain your business over the long term.
Potential investors won’t want you to dilly dally with this information. It is important for them that your proposal be honest and upfront with how much capital it needs.
#5. Have a solid conclusion
The conclusion of your proposal should recap what you’ve said and persuade the reader to take action. Be sure to thank them for their time and remind them of the benefits of investing in your company.
Always make sure that your proposal ends on a high note and not with a whimper.
#6. Include the proper formatting and design (Try a business proposal template)
Use a professional font, along with easy-to-read sections and subtitles. Present your proposal as a PDF so it will be compatible with all computers and devices. If appropriate, include graphics or charts to break up large chunks of text and illustrate your points.
Simply put, use the wrong type of fonts and watch all your hard work go into the waste bin!
If you don’t have access to a lot of fonts, just go over at Venngage and check out their templates for business proposals and pitch decks. They have everything you will ever need over there!
#7. Proofread for errors
Remember that typos can significantly hurt your credibility. I mean, who would want to invest in a business that doesn’t even have the time and finesse to check for proper grammar. A good tip would always be to have someone else look over your proposal before you submit it, just in case you missed anything.
#8. Top business proposal ideas? Start with being original
If I’ve learned anything from Marketing 101, it’s that competitive advantage is key when making new business connections. Look, most investors get business proposals by the bulk daily, make sure that yours will be unique enough for them to remember it.
Why not give potential investors or partners something they couldn’t get elsewhere? Consider looking for great visuals, nice colors, and eye-popping data and graphs to drive your points across.
#9. Include an executive summary
An executive summary is a brief overview of your business plan that should be included towards the beginning of your proposal. This section shouldn’t take up too much space; investors want to read about details, not hear about what your company does in general.
The most important part of writing a business proposal is creating an original document–don’t simply copy and paste text from other sources.
When you are finished with your proposal, it is vital that you edit for spelling and grammar errors; otherwise, potential investors may doubt the quality of your product or service.
Finally, always use easy-to-read formatting like bolding and bullet points to make reading easier on the eyes.
Propose the right way and make them say YES!
Creating a business proposal can be daunting, but following these tips will help you create a document that is both informative and persuasive. For more help putting together your proposal, consult with a professional business plan writer.
If you’re like most entrepreneurs, you know that a well-crafted business proposal is essential to success. After all, your proposal is your opportunity to make a powerful case for why your business should be chosen over the competition.