A high-class, captivating business proposal allows you to secure new clients and grow your business rapidly. It serves as a commitment to the client in document form about how a project or series of projects will benefit both of you.
The problem arises when people confuse business plans with a business proposal. A business plan is a document explaining the business’s core activities and goals, along with plans to achieve these goals. On the other hand, a business proposal is a written offer of all the services you promise your client and the expected outcomes. These services and methodologies to fulfill the client’s needs are tailored according to their requirements and niche. A proposal is needed when a client makes some specific requests or presents some opportunity.
The way you express your services and strategies in a business proposal directly reflects your capabilities and core values. Hence, this proposal is the ultimate test about whether or not your clients accept your company’s services. When a document holds such significant value, you must articulate the components of the proposal after thorough research. The way you write a proposal and the strategies you introduce in it must be compelling enough to grasp the client’s attention. However, not everyone is aware of the intricate art of drafting captivating business proposals. Therefore, it is best to gain some understanding of the business realm before approaching potential clients. A befitting option would be to opt for eLearning as it is manageable for entrepreneurs. You can avail of an online MBA no GMAT AACSB degree to improve essential business skills. It will not only help you with attracting potential clients with your business proposal but will also hone skills crucial for maintaining business relationships.
Now, let’s discuss some tips to write an effective business proposal.
1. Choose the tone carefully
As much as it is essential to know what to write, it is equally important that you know how to write it. The goal of a business proposal is to convince your client to conduct business with you. If your language and communication methodology alienate them, you will not secure a lucrative deal.
Instead, opt for writing in a tone that connects with the client on a mutually benefitting level. The writing style, vocabulary, and diction must be engaging. Once you establish a connection through your writing, it will be easier to create a common ground and build on that base.
To connect with your client, research your target audience fervently. You must understand their needs, demands, problems, and values on a deeper level. Then you will be able to write in a tone that resonates with them and stays true to your business strategy.
2. Answer all the “Why” questions
Your business proposal must answer all the questions that start with a “why.” It can include the following questions:
- Why does your client need your expertise?
- Why should they choose to conduct business with you?
- Why is this the right strategy/approach/plan for them?
- Why should they select you from amongst all the rivals? (Here you can explain your value proposition)
Once you answer all of these questions persuasively, you will be able to convince your client tremendously.
3. Be persuasive
While facts and figures are necessary, persuasively presenting them is more crucial. Take your client on a journey that promises a mutually benefiting outcome and convinces them to get your services. To be persuasive in the proposal, adopt the PAS (Problem-Agitate-Solution) formula. According to this formula, format your submission in sections that address:
Problems: This section must show that you have a firm grasp of the client’s requirements. You must demonstrate that you understand the issue, their business, their industry, and their customers. It will require you to actively listen to your client during the planning stage and conduct thorough researches. The priority is to ensure that the proposal addresses their requirements more than it focuses on your business.
Agitate: Now that you have set the base with the client by showing them that you understand their problems, you must make it sound urgent. This technique aims to ensure that your client feels compelled to solve their problems, which now seem dire because of your exaggeration. You can start by painting scenarios that predict a downfall for your client if the problem is not dealt with immediately. However, be careful during this stage as you don’t want to sound absurd.
Solution: This is the part where you can swoop in like a white knight and propose your innovative solutions for their problems. Express your strategies in complete detail, drawing scenarios about how your approach is bound to work. In this part, you must convince the client that you are the most suitable service provider to eliminate their problems.
4. Create a mind map
All the solutions and guidance you come up with may fill your client with many questions and ideas. To address these questions and explore different ideas, consider making a mind map that efficiently addresses all the topics. Using a mind map in this stage presents all your concepts, ideas, strategies, and solutions compactly and understandably. It lays down the connection between different steps and clears any ambiguity the client may have.
A business proposal is all about your efforts to convince and captivate a client to conduct business with you. Hence, stating simple facts in high diction is the worst thing you can do. In this stage, you have to connect with your client and persuade them through a document. Therefore, you will need to conduct proper research about the client and create a business proposal that aligns with their niche. Using the PAC formula and simple techniques such as using engaging language or creating a mind map can help you create a proposal worthy of partnership.