Business

7 Key Elements Every Successful Business Proposal Must Possess

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Written by MicroStartups

Whether you own a small business or a major corporation, there will come a point in time when you need to write a business proposal.

Writing a successful business proposal requires strategy and planning. If this is your first time writing one, don’t expect to win over a customer the first time around. Just keep practising until you finally get it right.

To help set you on the right path, check out the following seven elements that every successful business proposal must possess:

1. Solutions

Your customer is looking for solutions to their problems. That is what they will be looking for most in the proposals they receive. Therefore, you need to include your solutions for them in the first paragraph of your proposal.

Right away, you’ll want to state how your company’s products or solutions can solve their problems. As you go on, you can provide evidence that backs up what you’re saying.

2. Samples

It is not enough to just claim you can deliver results. You need to back up your claims with samples and proof of what you can do for the customer.

If you are proposing to sell products, consider giving them a sample of your product. If it’s a service, show them a portfolio of your previous work. This evidence will help give them a better understanding of what you can deliver.

Consider migrating your proposal system to an online business proposal template to streamline and brand your proposals, as well as boost their visual appeal.

3. Credibility

How credible is your company? In order to build trust with customers, they need to know your company is credible.

Your business proposal should reflect your credibility by including third-party endorsements or case studies that you’ve received from previous customers. The more you build your company’s credibility in the eyes of the customer, the more they will likely accept your proposal.

4. Benefits

What are the benefits of hiring your company? Aside from the solutions that you can provide to customers, what else can your company do for them that is special?

For instance, are you able to meet strict deadlines? Can you keep their information confidential as you work with them?

In your business proposal, create a section that lists all the benefits of working with your company. List each one of the special traits that your company possesses, such as confidentiality, great efficiency, customer service, etc.

5. Targeted Language

Make sure the language written in your business proposal matches the kind of language that your customer normally uses.

For example, if you’re submitting a proposal to an engineering company, be sure to use words and terms that are related to that industry.

This targeted language shows the customer that you both speak the “same language,” in a sense. The familiarity will, in turn, build trust. As a result, they will feel more comfortable communicating with you in the future.

6. Value

The price of your bid is going to be on the customer’s mind during the entire time they read your proposal. To keep the customer happy, the benefits of your proposal must outweigh the price of your bid.

In other words, the value of your proposal is equal to the benefits minus the price. If the benefit is worth more than the price, then your proposal will have a high value.

You should clearly describe how your customer will receive greater benefit working with you in order to justify the bid price.

7. Energy

Your business proposal should clearly reflect your enthusiasm over the deal. Do not just use templated language that appears repetitive and redundant.

Show your excitement and passion for working with the customer and the positive outcome it will be for both of you. By showing this kind of energy in your proposal, it will make the customer feel like you are serious about the deal.

About the author

MicroStartups

A team of writers and marketers, MicroStartups was founded to inspire the entrepreneurial and business community to give back. We believe in business growth through giving and supporting the local community.

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