Business proposals are powerful tools… but creating them can be a nail-biting, hair-pulling experience when you just don’t know what to do. Whether you are a tech startup applying for a contract job, a digital agency proposing a new vendor agreement, or a software designer looking for funding, a business proposal is the best way to showcase your skills and get results when making a formal request.
Below are seven tips to help you create a winning proposal—regardless of its purpose, or your audience.
1. Research
The first step to writing a business proposal is to do a research to determine the prospects of your enterprise. Be certain of your investor’s expectation and evaluate what capital needs/other resources you might need to finish well and on time.
To move in the right direction, try conducting researches online, talking to close contacts or even meeting with decision-makers at the company. Doing your homework will help you understand your investor’s preferences better than sending a written email request.
2. Make it easy for them
So many business proposals has been rejected for how complex they are. If it sounds like too much work, it might not resonate with your prospective investors. Make your business proposal as simple as possible for easy understanding.
When writing a proposal, attempt to politely inform your potential investor that the offer has some form of time limit.
3. Show them the money!
The truth is, every investors desires a financial win as much as you do. So it is vital that you logically explain to your prospective investor how much they stand to gain if they put their money into your enterprise.
Don’t make a guess; base your predictions on your currently advertising statistics, sales conversion charges and any other relevant data.
4. Determine how much detail to include
Choosing a structure for your proposal is also important, so don’t be afraid to ask your prospective investors what their preferences are. Do they need a one-page summary or a complete 20-page document with detailed analysis? Is your potential investor too busy to struggle through pages and pages of written content?
If you’re proficient with PowerPoint, Google Doc or Keynote, then consider presentations with or without a voice over. Whatever you do, be sure to make your presentation impressive.
5. Structure your thoughts
Create an outline which generally includes:
- Abstract
- Market evaluation
- Problems analysis
- Your approach to their concern
- Timeliness
- Budgets
Using a structure like this will you feed in statistics from your research.
6. Use visuals
With the aid of uniquely-created diagrams and flowcharts, impress your prospective investors and show that you have thought through all issues. However, don’t overuse them, but make sure they are compelling.
7. Check again
Check for errors that may impact your credibility and lower your chances of clinching the venture capital. If you happen to have been immersed in writing the proposal yourself, it is likely to miss a few simple mistakes. So, don’t hesitate to have another pair of eyes do a double check on your work.
Did these tips help? Tell us in the comments section!
