Do you know how to write a business proposal to reach prospects who might benefit from your product or service? At Pivot Digital Ventures we help you craft your business proposal in an engaging and compelling manner.
In summary, a business proposal is a document that helps to connect you and your prospects. It highlights your value proposition and its primary objective is to clearly illustrate your business strengths, team strengths, and market opportunity and help to convince a company or enterprise to do business with you. The document offers specific products and services at a defined cost and is generally used by B2B companies.
If you are puzzled about how to write a business proposal, the first and foremost thing to do is decide its type – solicited or unsolicited. Solicited business proposals are prepared on the request of a potential client. On the other hand, with unsolicited business proposals, you reach out to a prospective client for the purpose of gaining their business.
In a solicited business proposal, you generally receive an RFP (request for proposal) from the other organization. This RFP usually specifies how to write a business proposal for them and what they expect to receive in the document. When a company needs a solution to their problem, they invite businesses to share a proposal with their strategies to solve it.
Most business owners believe that business proposals and business plans are one and the same thing. However, that is a huge misconception. The purpose of the proposal is to sell your product or service instead of the business itself. Conversely, business plans aim is to help you in your search for investors to fund the business. An effective business proposal contains an executive summary, key project details, and other important information needed to seek new customers.
The steps to create both solicited and unsolicited business proposals are the same. They must highlight 3 important points:
- A statement of the organization’s problem
- A proposed solution
A lot of times companies tend to avoid sensitive details about the product or services pricing structure. This is not a good idea as pricing has a significant impact on the customer’s decision-making process so we recommend being clear upfront with pricing or at least provide tiered ballpark estimates.
A business proposal is often one of the first steps in B2B sales. It is important for you to know how to write a business proposal that is effective, engaging, and to the point. Prospective clients are interested in reading a clear offering to know what you propose as the solution to their problem.
Pivot Digital Ventures helps clients identify sales prospects, create commercial introductions, write a business proposal and negotiate commercial contracts. We assist and support throughout your journey and specialize in competitive analysis, communication strategy, new business development, negotiation, closing, marketing, CRM management, and sales optimization. Management of CRM and marketing automation software is vital to help businesses maintain records of proposal details, gauge interest levels and keep track of conversations and deadlines so it is important to collect the right customer data. This way you do not miss out on anything important and are setting yourself up to achieve long term growth and success.