Business proposal can be considered as one of the most important aspects of any business deal. Creating a business proposal requires special skills and expertise. Business proposal is also used as a marketing tool by many companies. Information on company’s management, nature of services and so on can be included in a business proposal. It is important to note that the business proposal should be created only after identifying the needs of the prospective customer.
Specific terms and conditions relating to charges, deliverables, discounts and other payment terms can also be included in the business proposal. A business proposal should not be considered as a business contract. It can be used as the first point of interaction with the prospective customer.
Four Important Steps in Preparation of Business Proposal
Identify Needs of the Customer
Before developing a business proposal for a prospective customer, it is important for the marketing executive/manager to understand the requirements of the customer. For Instance, a consulting company may have clients in different business areas (such as finance, information technology, marketing and so on). Different types of business proposals with focus on the nature of services (to be provided) may have to be developed by the marketing executive/manager to suit the requirements of customers in different business segments.
Follow a Proper Format
While a business proposal can be used as an effective marketing tool, it is important for the company to ensure that the content of the business proposal is clear and specific. Too much information and unnecessary details can confuse the prospective customer. A business proposal should be properly paragraphed.
Proper headings can help the customer in understanding different parts of a business proposal without facing any hassles. For Instance, a business proposal may include different sections such as client details (name and address), company profile, nature of services, delivery and payment terms (such as payment mode, beneficiary details, and so on).
In some cases, it is important to specify the period for which the business proposal is valid. For Instance, a company is engaged in production of cables. Since the price of copper (used in manufacturing of cables) is highly volatile, company may prefer to offer discounted prices to its customers only for a limited period of time (such as 7 days from the date of mailing business proposal). In such cases, it becomes important for the company to mention the period for which the business proposal will be valid. Therefore, it is important to mention the current date on the business proposal.
Request for Feedback
A customer may have certain queries after going through the business proposal. Therefore, it is important to mention the contact details of the concerned person (generally the marketing executive/manager) at the end of the business proposal. Further, prospective customers should be encouraged to provide feedback on the information contained in the business proposal. This objective can be achieved by including a feedback/query form at the end of the business proposal along with email id of the marketing executive/manager.
Photo Credit: http://torsportal.fo/index.php?id=18&tx_ttnews%5Btt_news%5D=1647
Photo Credit: http://www.finance-tips.org/finance-resume/