ELEMENTS OF A WINNING BUSINESS PROPOSAL

There may be times in your small business life when you will have to submit a business proposal to gain business from another firm, corporation or government. It is your ability to present yourself as the best person for the job that puts you ahead of other contenders.

What is A Business Proposal?

Unlike a business plan, which is written to run your company and raise capital, a business proposal is a document you prepare in order to bid for business from another company. There are two types of business proposal that can help you gain more jobs to grow your own business.

Solicited Business Proposal. In this case, a corporation or government body seeks a company to run a project or complete a task for them and allow companies to bid for the project. An open bid is placed on the market with other companies competing for an interview spot. The winning candidate is offered the project. In national newspapers you will see various companies and government parastatals inviting companies to submit bids to run a project for them.

Unsolicited Business Proposal. At some point, your small business may want to do business with a larger company or forge a joint venture. For instance, you may notice a problem in a company, to which you know your business can solve at an affordable rate. The proposal you will write in this case is an unsolicited business proposal. A well-written business proposal can win the hearts and minds of your target audience.

If you need to write a business proposal to win a bid, you will need to know the key winning elements of a successful proposal. Make sure your proposal stands out in the stack of competitor proposals by including the following elements:


7 Elements of Winning Business Proposals

SOLUTIONS: That is the only language that companies understand. If what you are talking about doesn‘t solve their problems, they may not even read it through. After you have written a lead paragraph on the company's needs and problems, follow up with a solid presentation of how your business can provide solutions. The key here is to promise solutions you can deliver.

BENEFITS: All winning business proposals clearly outline for the company the benefits to be gained from doing business with you. Solutions can be provided by anyone but what peculiar benefits will they derive from doing business with you? Your proposal must answer this question. If your small business can offer complete confidentiality and meet tight deadlines state it in your benefits section.

CREDIBILITY: This is often the overlooked portion of a business proposal but all winning proposals glow with credibility. If you have worked with clients in the same field or have an award-winning business, then attach such evidences to gain credibility.

SAMPLES: A business proposal with samples and evidence of your ability to deliver is vital to gaining the winning bid. A small sample of your work can show your ability to do the job. You may also attach pictures as proof of what you have done in the past.

TECHNICALITY: A winning business proposal is all about communication. Speak in a language spoken by your intended audience. If the proposal evaluators are from an engineering background or financial department, use the appropriate jargon.

QUALITY: Let the quality of your paper, envelope and letterhead design reflect quality and professionalism. You may not be there when the proposal gets read and therefore you are likely to be judged by the quality of the materials in which your proposal was packaged. Therefore use the best materials and expertise available.

BREVITY: Avoid writing long proposals. Go straight to the point and go into details only when you need to prove your expertise. And as much as possible, make every written word in your proposal count. If yours is a relatively small business, a 3-5 page proposal is ideal for you.

Ultimately, the best business proposal is none. When your company is well-positioned and unique in the marketplace then it is only you who can meet the needs of the company requesting the bids. If a private school is looking for a web designer and your company specializes in web creation for the education industry you might be able to circumvent the proposal process.
In the end, you may not win all bids, but will win jobs that best match your business to the prospective business.