A business proposal. It might just be the most important business document you ever create. A great business proposal will help you win accounts with your dream clients and even help you secure investment capital. Creating an irresistible business proposal might sound fairly easy but you'll be surprised at how many businesses fail to create them properly. Here are some must-read tips that will turn your proposal from good to great and increase your chances of sealing the deal with new clients.
1. Write for your audience
Keep complicated jargon to a minimum and write your business proposal in clear, concise language. You'll want to convey your message in as few words as possible without alienating potential clients and investors. Remember, just because you know what something means, it doesn't mean your clients will (even if you're trying to write your proposal for brands in the same niche). That being said, avoid acronyms and other difficult-to-understand concepts and concentrate on writing a killer business proposal that demands attention and stands out from the pack.
2. Watch your sums
According to Forbes, you need to be careful when coming up with sums for your business proposal. When looking for B2B clients to invest, check your finances, then check again. Making a mistake with your numbers could seriously hamper your chances of securing investment. Not sure about your finances? Call in an expert to do it all for you. The key here is to have a watertight proposal that will wow potential clients without any financial mistakes. Your financial forecasts should be accurate and realistic if you want any chance of working with B2B clients in the future.
3. Follow the 10-20-30 rule
Are you creating a multi-media presentation to go with your business proposal? If yes, make sure you do it right if you want to close more deals. Experts believe you should follow the 10-20-30 rule when creating a slide presentation for your business proposal. That means 10 slides in 20 minutes with a 30-point font. Sounds pretty simple, right? The 10-20-30 rule is a fantastic idea for your proposal because it lets you get your message across to clients quickly in a short time frame without bombarding them with loads of information. ClientPoint provides outstanding tools for creating very impressive business proposals and multimedia business proposal presentations. Click here to learn more.
4. Create a mission statement
Not sure how to promote your business to clients? Start with a mission statement. This is your chance to explain who you are and what you do. Ideally, you'll want to include your mission statement in the first section of your business proposal and presentation. Your mission statement should be clear, precise and outline your collective goals and objectives as a company.
5. Plan ahead
This one might sound obvious but it's likely many companies don't follow this simple rule. If you want to create an irresistible business proposal, plan ahead. Leaving things to the last minute will mean your proposal will come across as rushed and you could potentially lose the business deal as a result. If you're struggling for ideas on how to format your proposal, sit down with your team and brainstorm different concepts. This will ensure your proposal is a collective effort that your entire brand believes in.
6. Don't forget about potential risks
B2B clients will want you to be as honest with them as possible. Therefore, don't forget to include any potential risks that could have an effect on a future business relationship. Although you will want to ensure your proposal is as positive as possible, identifying any possible hurdles that might occur in the future will help potential clients decide whether they want to work with you and will prove you have thought about a long-term strategy.
7. Give lots of examples
You should give lots of examples in your business proposal. If you want to impress clients, stay away from boring black-and-white text and diagrams and give real life examples of previous projects you have worked on and clients you have done business with in the past. This helps illustrate your credentials to potential B2B clients and proves you have the right experience for the project.
8. Know your industry
Be prepared for lots of questions from clients about your business proposal. If you don't have the answers, you could jeopardize potential investment opportunities or business contracts. One way to ensure you get the deal you want is to know your industry. You can do this by networking with influencers and authority figures in your niche, attending seminars and training events, and following news and developments in your industry, especially if they could impact any deal you make with a client.
9. Practice, practice, practice
Read through your proposal several times and make sure everything makes sense and that there are NO typos, spelling errors, or grammatical errors. Your proposal should evolve during the planning stage. In fact, your finished proposal might look a lot different to when you first started. If there are concepts that could potentially confuse a client, take them out. You'll also want to make sure you have all the correct information in your proposal , including up-to-date contact details and the names of key players in your business who are looking to invest. You also might want to personalize your proposal by addressing any potential clients by their names.
10. Create a list of assumptions
According to an article in Inc, you should create a list of assumptions for your business proposal. For example, explain to clients what could potentially happen if your brand had a good year and what might happen if you had a bad one. Outlining various scenarios will prove that you have planned for every outcome and your clients might be more willing to invest as a result. Think about product lines that are likely to grow and what you will do if you lose customers. Your clients will want to ensure that you have prepared for every eventuality and creating a list of assumptions can help you prepare for the future effectively.
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Article References:
https://blog.quoteroller.com/2013/04/16/right-words-for-successful-proposal/
https://www.entrepreneur.com/article/241079
https://www.entrepreneur.com/article/241537
https://blog.quoteroller.com/2013/02/13/mission-statement-of-business-proposals/
https://realbusiness.co.uk/article/4113-top-10-tips-on-writing-a-business-plan
https://expertenough.com/2915/business-plan-tips
https://www.inc.com/drew-greenblatt/6-best-business-planning-tips.html
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