INTRODUCTION BUSINESS PROPOSAL
& PLAN:
A
business proposal and business plan are important tools for an effective
business whether as an entrepreneur, consultant, employee or corporate
executive. These are documents that provide a vivid picture of an idea,
proposition, concept, project or initiative to the benefit and advantage of a
specific organization, government, community or entity.
A
business proposal is a document which presents a specific solution to a prospect
or client about a problem, and provides practical solutions in addressing such
a business problem. It seeks primarily to present and execute a new idea and to
add value to a project, business or organization. This is usually short,
straight to the point and strongly convincing as much as possible to the
reader. The content includes an executive summary/introduction, identified
problem, proffered solution, methodology/strategic plan, requirements/cost
implication, benefits for prospect/client, profile/portfolio/competence, partners/associates,
critical outlook and conclusion.
The
business plan consists of a narrative and several financial worksheets which
consist of several questions divided into sections to provide a working
document for a startup business or already existing project. A business plan
addresses major concerns whether for a startup or already existing business
that wants to expand. This is why unlike a business proposal that is short and
brief, a business plan is vivid, technical, practical and applicable. It is made
of contents such as executive summary, company profile, promoters’ profile,
products and services description, project description, technical description,
financial analysis, financial statements, contracts agreements, SWOT analysis,
conclusion.
Clearly
identifying the distinct peculiarities of these two business tools will help
the reader easily understand how to structure the various documents. But please
be informed that the first foremost step before writing either a business plan
or business proposal is to carry out a NEEDS assessment/feasibility.
A
NEEDS assessment is a survey which helps you identify the quintessential need
for your plan or proposal, and the possibility of its success.
31 March, 2017, 8:00am
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