As its name suggests a business proposal is just that – a proposal. Its intention is to reach organizations with the sole goal of offering them a product or a service to purchase. It comes in two shapes, which are usually the ones everyone is talking about – solicited or unsolicited. What this means is that this river flows both ways.
The situation might arise where a company is seeking a certain product or service and are prepared to listen to offers regarding them, or is simply reacting to an offer that is already on the table. The best example of an unsolicited offer is when a pitch is offered after a business dinner from the seller to the potential buyer through an already prepared offer.
The Elements of Business Proposal
In some basic forms, these proposals can have a short form, consisting only of one latter. This is a rare case, or we’re talking about an initial pitch. In most cases, we’re talking about the pages of documents that need to dig deep into the specifics of what’s put onto the table as an offer. What you need to know is that the buyer is dictating the form of the proposal. Some companies are strict in this department, and you’ll need to respect the norm they require. In most cases proposal needs to have consisted of a cover letter followed by a cover page.
What follows is the executive summary and the table of contents. Once this is displayed you’re free to discuss the overview of your products or service and strategies in which you plan to implement them in the business run by your future partner. The finishing needs to be swift, and you’re better to be concluding the pitch with representative tactics and the qualifications our company possesses in certain domains vital for any future cooperation. The last two points need to be the schedule and of course the cost of the project you’re pushing forward. In some cases, these proposals require a lot of work and length, but they can also be shortly contented. If you want to see a clear example, please check this contract.
These types of documents aren’t field and send to the receiver without a proper goal of being successful. In this field, success is measured by the reaction from the receiver. When a company is responsive to the proposal letter they received it means that the bidder has done a great job. Most companies want o make sure that those who want cooperation with them are familiar with their background, goals and aspirations, traditions, and plans. To receive the needed and wanted response a business proposal needs to impress. It needs to be neat and tidy, with all the right words, easy to read but not simple, complex but not too complicated with a great eye for detail.
But, it’s not all about aesthetics. No! In fact, you need to be focused on the content too, as you don’t want a well-written proposal that misses the point of the project the company plans to start. All of this needs to be considered before filing the proposal, as you don’t want to put a huge effort into making it only to fail. This is not s simple goal to be achieved, but it needs to be seen as a mission. After all, you want to be the only one pitching an offer. In this line of work, there are multiple competitors. Some of them might get hired, even if they’re offering a weaker product or a service, only because their business proposal had more ring to it.
What Else to Know
We gave you some scarce details above, but that’s not all. This is a deep and complex subject and not one to be taken lightly. But, as you focus on heavy details you might miss some light subjects. First of all, you need to know where to start. Knowing and targeting the right audience is half of the venture. Knowing your ideal buyer is what you should strive for. This is where you need to line your peons the right way. Every company has its goals, budget, various timelines, and places where you can strike as they’re soft there. If you isolate these things the match is almost as good as over. There’s a lot to be learned about your future partner even before you’ve started the conversations. This is something you need to be prepared to take advantage of.
After your business partner whom you’re targeting, the second most important figure in the conversation is you and your company. While impressing your partner with a nice business proposal, it’s better to have them on their toes with what your company represents. When you’re prepared to release your pitch, make sure that you put your brand and your company name upfront. This doesn’t serve to leave an empty impression. No, the goal is t show what you are, and what you represent. Behind it, needs to be your proposal in all of its glory.
When you won a company, and offer services to another one, you become equals. Even if you’re a sub-contractor, it doesn’t matter. Being advanced in your field of work is something to be proud of. After all, business proposals are usually intended for bigger projects that are for most companies a one-time thing. This is what they’ll pay special attention to a business proposal, and that’s why a business proposal needs to be special on its own. In the end, the one aspect that mustn’t be forgotten is the validity of the claims stated in the proposal. It is not wise to claim a pitch based on false promises. Everything is fair in love and war, but this is neither. This is why you need to be dealing with nothing but the facts. This is the only way your pitch is going to be worth anything. Either way, if you fail on the delivery, you won’t be having them accepted in the future for sure.