Preparing a business proposal can be a tiresome and complicated process. Be it for a pitch meeting with potential investors or simply to submit your ideas to people who might want to buy from you, writing a business proposal may feel like rocket science sometimes.
It is difficult enough at the best of times, but business proposals can be a real struggle for those who have never written one before. So what should you do to make it easier?
This post aims to help you with that. It also has tips on how to write a business proposal that works.
Make your idea clear and easy to understand.
In the eyes of a potential investor, your idea will be evaluated based on its simplicity and clarity. There is no need to make things overly complicated by drawing unnecessary comparisons or comparisons with other similar projects.
The best business proposals are those where there is a clear logic that leads from A to Z without too much effort on behalf of the reader.
Organize your thoughts before writing.
The keyword here is ‘organize’. This means that it might be a good idea to create an outline before you start writing. A good way to do this would be to list all the ideas you want to include in your proposal. Then, assign each of them a section heading and write down what needs to go beneath every one of them.
This way you can see what you are missing and whether your plan is coherent enough to impress the people who will read it.
Do not think you have to write everything down.
When putting together a business proposal, there is no need to go into unnecessary detail about everything. However, for certain elements, it might be necessary to get deeper into the subject matter.
For example, if you are writing about the goals and responsibilities of employees in your company, say so. If on the other hand, you are covering logistics or marketing strategies, do not go on for more than three or four paragraphs on that topic.
Your potential investors already know how these things work; they just want to make sure that you do too before signing up.
Be relevant and do your research.
The way you research your business proposal will be the key to its success. Therefore, it is advisable to think about things like your target audience, their preferences, and habits before starting anything. This means that if you are writing a business plan for investors in France or Japan, do some research on them first!
You can find some great ideas online by looking at other successful businesses’ websites and studying their marketing tactics. The more relevant your business proposal will sound upon completion of your article, the better it will work for you in the long run.
You can also look at Venngage where you’ll find tons of business proposal templates. Using the platform, you’ll find the right business proposal sample you can edit and use for the benefit of your company.
Include statistics in your business proposal.
The last tip you might find helpful is to make sure that your business proposal is as simple as possible. That means keeping it short and sweet with enough data for a potential investor or purchaser to be interested in what you have to offer.
Statistics are useful in your presentation because they can help give an idea about how well a certain plan has worked for other projects similar to the one you intend to implement.
However, statistics should only be used if they are direct and include no speculation from any party involved – from yourself to the company who conducted the research. If the number of scents sold by a particular perfume brand increased by 60% following a change in their marketing strategy, so be it!
But do not say that it increased by 60% “according to my research” or anything of the sort. Stick to cold hard facts and you should be fine.
Business proposals are not all about making a good impression; they have practical uses as well especially when it comes to deciding if a project is worth pursuing further or not. If a potential investor feels confident in your knowledge, chances are higher that he will approve your request for funding. That being said, do not take shortcuts just because you think this is the only way to impress people around you. In the end, what matters most is delivering a high-quality product on time and within budget so make sure that happens!
As a final tip, remember that a good business plan should always aim high but start small. To make sure this is understood by everyone involved, it might be a good idea to include the phrase “Go Massive Or Go Home” somewhere in your proposal. All that being said – go write an awesome business plan!
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