How to Write A Winning Business Proposal [A Comprehensive Guide]

Writing a winning business proposal is the most important step of securing any contract with an organization. A good business proposal communicates to your potential client that you are worth the work and this can either elevate your business or keep it in its current position.

Knowing how to write a convincing business proposal is very important for every entrepreneur. Also, learning how to write a business proposal is equally one of the most important business writing skills that you will have to learn. In this article, we will show you a comprehensive guide on how to write a winning business proposal that will be hardly rejected by any organization.

What is A Business Proposal

A business proposal is a written document used to offer goods or services to a prospective client at a defined cost.

A business proposal is not a business plan. While the business plan is an important document of a company, it is quite different from a business proposal. The business proposal is created specifically for a request or opportunity.

Types of Business Proposals

Basically, there are two (2) types of business proposals: solicited and unsolicited.

A solicited business proposal is when a potential client ask for a proposal. They may ask verbally or by written Request for Proposals (RFP). It is very easy to sell your business since the client is already interested in your business.

An unsolicited business proposal is presented to a potential client who has not asked for or expected one. It must be convincing since the customer has not anticipated, planned, or budgeted for the proposal. With an unsolicited business proposal, there is no guarantee that the potential customer will read it since they did not ask for it.

READ ALSO: How to Write A Business Plan (A Comprehensive Guide).

Gather the Information You Need

If you are writing a solicited business proposal, you have to get much information about the nature of the business. Make an in-dept inquiry about the business proposal.

Some questions you should ask are:

• Why are they outsourcing the service?
• Is there a fixed budget for this project?
• What do they want to achieve with the project?
• How have they previously tried to execute this themselves and what results did they get?
• When do they want this project to be completed?
• What will be the criteria for evaluating the business proposals?
• Do they have any concerns?

Then ask yourself:

• Can I really solve this problem?
• How can my company execute this?
• How can I present my company as the ideal solution to their problems?

Outline the Scope of the Project

The scope of the project is the summary of the deliverability and should take functions, features, tasks, costs and schedule into consideration. Some things you need to consider are the “who, what, where, when, how, and why” as it pertains to your proposal and budgetary costs.

To outline the project’s scope, answer the following questions:

• Who: Who will do the required work, who will manage the work, who will answer to the customer if there is a problem?
• What: What needs to be done/delivered, what will be required to do it, what can the customer expect, what will it cost them?
• Where: Where will the work be done, where will it be delivered?
• When: When will you start, when will key milestones be scheduled, when will the project be complete, when is payment(s) due?
• How: How will be work be done, how will it be deployed, how will it be managed, how will you achieve quality assurance and customer satisfaction, how will risks be mitigated, how long will it take, how will the work benefit the customer?
• Why: Why have you chosen the approaches and alternatives you have selected, why should the customer select you?

Outlining these will give you a head start on how to write your proposal. It also gives you the necessary resources to complete the project.

Step-by-Step Guide On How to Write A Winning Business Proposal

Now that you understand the needs of your client and you are prepared to deliver more value than anyone else. You can now proceed to write your winning business proposal.

1). Introduction

In writing a business proposal, start by introducing your company. Highlight your mission statement and what sets your company apart from the rest. You can also mention what distinguishes your company, your accomplishments, credentials, and any other awards.

You should also determine the length of the introduction based on the nature of the proposed contract. If it’s a short-term contract, the introduction could be short and concise. But if it’s a long-term business relationship, then you should put in your best so that your brand can stand out from the competition.

2). Executive Summary

The executive summary is one of the most important parts of your business proposal. In this section, you should present why you are the right company for the job, and highlight the takeaway message of the proposal. Use direct, factual language that is objective and persuasive.

3). Table of Contents (Optional)

If your business proposal is going to be long, a table of contents can be helpful. List each section (and subsection) with their corresponding page number. In general, it is advisable to always keep your proposal as short as possible, so most proposals shouldn’t need this extra section.

4). The body

After the introduction and the executive summary, the body of the proposal is where you get your readers hooked on your proposal. This is where you answer the “who, what, when, where, how and why” questions that were listed in the scope of the project.

You’ll also talk about deliverables, pricing, your clients, previously executed projects, and a lot more to show how the job can be carried out and delivered on time. A good way to start is with the project details, including a pricing grid or breakdown of the timeline. You can also use data charts to illustrate key concepts and can also include testimonials from past clients and a link to your website.

Also, highlight that some form of modifications or complete changes may incur extra charges for the client. You might want to conclude the body with a signed agreement form which can act as a contract agreement.

5). Conclusion

Use this section to make your final sales pitch. You have to outline the details of your proposal, re-emphasize the exceptional results your company can provide. Conclude with a call to action that encourages the reader to contact you or visit your website to learn more about your company or business.

6). Appendix

The Appendix section is optional, however, you can use it to include information that might not fit well in the body of your proposal.  For example, you can include certifications and awards your company has received, customer testimonials, projections and your resumes.

Submit Your Business Proposal & Follow Up

In most cases, you can submit your business proposal via an email attachment. It is best to send it as an attachment rather than within the body of the email to minimize the risk that key details are lost in a long message chain or cut off when printed or forwarded.

However, some companies may require you to log into their portal and enter your proposal details or submit your proposal’s costs on their supplied forms. In such cases, it is still a good idea to email a copy of your business proposal, featuring your letterhead and formatted per your business requirements, to ensure that all terms and conditions are properly captured.

Submitting your proposal isn’t enough, you need to follow it you to get approval. You can do that via calls, emails and also make yourself available to answer questions. Also, reach out to key employees in the company to know the status of your business proposal.

Final Thought on How to Writing a Business Proposal

Before you send out your proposal, it is important you proofread before sending it to a prospect. If possible send it to somebody else to read over. With this guide on how to write a winning business proposal, you should be able to get approval for the next proposal you send out.