BUSINESS
PROPOSAL:
Considering
my last publication on “Introduction to Business proposal and
feasibility/business plan reporting”, this provides a step by step method to
easily write a winning business proposal.
A
business proposal has the following standard format as applicable to any
project or new initiative.
1.
Title Page
This captures the project/business title which you
are presenting to the prospect, and it must be attractive, catchy, short and
engaging the reader to want to explore more.
Then also the designation and address of the
prospect.
And your own clear business address with phone
contacts, fax, email and if available website.
2.
Executive Summary in brief/Introduction:
This section is what I consider your opening speech;
it will either indulge your prospect or disgust him/her from your fantastic
idea.
It must be as brief as possible so your prospect
does not sleep on, and key important point like your pedigree, the need for
your idea, its practicality, cost effectiveness and assurance that it is of
grave importance. Let it be a fun read for any prospect.
3.
What is the problem you have identified?
This is why the NEEDS assessment is key because it
provides you with the important factors in identifying the problems such as;
What is the cause? How did it start? How much impact has it made to the
business? What is the possible solution? What is the short term, medium and
long term implication of the cost implication?
4.
What is your solution?
This is the crux of every business proposal because
your prospect wants a solution that is cost effective, has long term value and
practical. It is very easy to throw a solution out there, but it is more
important to note that there are short, medium and long- term solution. So
choose your solution wisely.
5.
Methodology/Strategic Plan:
The next step after presenting a solution is
showcasing the methodology or strategy that will be deployed in order to
achieve such an idea. This involves technical disposition, resources required,
access to the resources/raw materials, human resource/expertise, possibility
projections, sustainability.
6.
Requirements/Cost implication:
This can be complex even though it is simple because
the presentation of cost may just ruin your effort. But your NEEDS Assessment
can help identify the peculiarities of prospect, as some may want you to
include the cost figures in this column, another prospect may prefer you
highlighting only the required factors without including cost. Some prospects
may just be discouraged at the glance of your cost without studying the rest of
the document.
7.
What does your prospect benefits?
This is what I refer to as value on the proposal because it provides the benefits of adopting
your initiative to the prospect. It shows clearly to your prospect why he/she
should give it a shot. You must be able to provide short, medium and long-term
benefit to the prospect. As earlier advised, you must carefully analyze your
proposal.
8.
Profile/Portfolio/Competence:
What is your experience in such a business? What is
your success record? Who are you working with? What is your management
structure?
Every prospect does not just want a nice and cozy
proposal, they all want to deal with someone who is trust worthy, reliable,
competent and accountable. This indicates where necessary your partners,
associates and consultants where necessary.
9.
Critical Outlook
This discusses possible questions and unforeseen
problems that maybe encountered in execution. It looks at the limitations and
challenges which may impede the execution and success of the proposal such as;
lack of fund, political interests, timeline, competition and supernatural
occurrence.
10.
Conclusion
This is the icing on the cake, it revisits the
initial opening and implores the prospect to consider the proposal and take
necessary positive action. It is important to extend remarks, appreciation and
state clearly the expectation. It is usually brief and thought provoking.
Note: The above format should be applied as related to
the industry which the business belongs; manufacturing, distribution, franchise
or service. These industries vary according to the technicalities involved
which a feasibility study just adequately solves.
07 April , 2017, 9:00am
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