Business proposals that tell a compelling story get powerful results. A business proposal is often the first step in the sales process, and it can be a critical factor in whether or not the client decides to do business with your company.
A business proposal is a sales pitch that, when properly crafted, will impress your prospective clients and win you new business. Let’s take a dive into the components of creating a powerful proposal. A business proposal is a document that is used to offer a specific product or service to a potential client. It is typically written in response to a request for proposal (RFP) from the client, and it outlines the product or service, the cost, and the terms of the offer. A well-written business proposal can help you win the project and establish a long-term relationship with the client.
Writing a business proposal can be a daunting task, but with a little preparation and understanding of what makes a proposal effective, you can increase your chances of winning the project. Here are some tips for writing a winning business proposal:
By following these tips, you can write a winning business proposal that impresses the client and increases your chances of winning the project.
When it comes to pitching for new projects, a pre-made proposal simply won’t cut it. Don’t fall into the trap of creating a one-size-fits-all document to replicate from project to project. That’s the quickest way to lose business. Each proposal should be carefully customized to convey that – without question – your company is the right one to take on the job. Everything in your business proposal must be written with each individual project in mind.
A tip: This doesn’t mean changing the format of your business proposal for every pitch. You can template your formula and layout which will make it simple to write for each new project. The important thing is to ensure that the information inside is relevant and tailored to the client’s needs.
The start of a business proposal should convey two things straight up:
1. A project statement to articulate your understanding of:
2. Pricing: one of the primary purposes of a business proposal is to understand costs. Make sure that you include a pricing summary at the beginning of the document.
In your executive summary, you should expand on your project statement, explaining how your organisation’s capability is aligned to the project objectives. The key here is to avoid broad motherhood statements and corporate buzzwords. Instead, home in on how your expertise, knowledge and skills will translate to project success, focusing on how your plan to deliver on specific objectives.
A tip: Resist the temptation of borrowing content from past proposals or company profiles. Write specifically for the task at hand – it will not only show that you have properly interpreted the project, it will sell your service in a far more authentic way.
Be upfront about the foreseeable challenges of the project. Outline what these challenges are and how you would overcome them if appointed.
A tip: Show that you are an expert at overcoming these challenges through the utilisation of case studies.
Arguably the most important part of your proposal. The project budget, timeline and deliverables will not only play a pivotal role in winning the pitch, it’s what the client will hold you accountable to if you’re successful at securing the business.
Expand on your pricing summary and include a comprehensive outline of costs and expectations, such as progress payments at different intervals of the project.
Include a timeline of key dates and deliverables to further illustrate your understanding of the client’s needs.
This is also the section where you can outline your project management methodology, such as taking an Agile approach, which further reinforces your capability and expertise in delivering on-time and on-budget.
Introduce the team who will be assigned to the project, including professional photographs and a short bio to illustrate their proficiency to tackle the task.
Pepper your proposal with case studies and testimonials of your past clients and their successes. As with all sales material, the most effective way to convey your competence is through the endorsement of your work from past customers.
Your proposal should look as high-class as the product or service you deliver. That means getting it professionally typeset. Business proposals can be heavy-going on content and a graphic designer will have the eye to lay out your document in a way that is eye catching and easy to read.
Include a call to action to round out your proposal – something that will compel the customer to engage with you and, ultimately, move forward with you. For example – it could be setting up an obligation free meeting to ask questions and explore your offering further.
Appoint a seasoned editor to check your content. Nothing is more off-putting to a prospective client than a proposal with errors in it.
A tip: As important as spelling and grammar is the structure of your proposal. The writing needs to be engaging, punchy and naturally flow from start to finish so that it tells a logical and easy-to-follow story.