How to write a Business Proposal

Business Proposals can help you make your case, whether your business is initiating a new partnership or you are seeking funding for your business from investors. Either way, people want to know exactly how your company can satisfy their needs. 

A Business Proposal includes routine information such as your company's address, an executive summary, and descriptions of the costs and benefits, as well as the market advantages. Your basic company information can likely be pulled from your Business Plan, but you'll also need specific information about the proposed job or business need.

What to include in your Business Proposal

• Executive summary: The executive summary is designed to catch the attention of the busy lender or investor reviewing the financing request and to provide a reason to explore the details of the business and the request further. The summary should be clear and concise. A potential investor should have a firm grasp on the business venture and a curiosity to know more after reading the executive summary.
• Project description: Include a description of the project, detail the steps to complete it, timelines for completion, and why your company is suitable to complete the project (or provide the service needed). The Business Proposal should set a clear plan for implementing and developing each phase of the project. You should take careful consideration to treating a plan that is feasible and sets reasonable goals and expectations of both parties involved. 
• Target market, market gain, and strategies for sales and marketing: If you are communicating with investors, they'll want to know the how many potential customers are in the market you are targeting, and what percentage of the market share you expect to be held by the new product or service. You should also include how you plan to increase sales and how your marketing strategies will facilitate sales.
• Financial summary: You will need to include information about projected incomes, profits, and operating costs. Investors will want to know how you plan to share profits with them.

Tips for writing a Business Proposal:

Understand your audience's needs

Each client has specific needs and different ways in which you can help them. Your potential customer wants to see how you can address their unique issues, not a generic version of how you would solve the problem. You may even benefit from simply printing the Request for Proposal and going through it line by line to ensure you meet every request.

Edit your proposal

The proposal should be easy to read and understand. Your value should be obvious, realistic, and simple to envision. Ask a colleague or non-interested party to review the proposal for clarity and obvious errors. If necessary, you can ask the editor to sign a simple Non-Disclosure Agreement (NDA) to protect your proprietary interests. If you have legal questions, reach out to a Rocket Lawyer network attorney for affordable legal advice.

Include additional resources

Often it helps to include supporting documentation such as organizational charts, graphs, images, and references. If you are chasing a large client or investor, it is worth your time to put extra energy into your proposal. Make sure the basics of the document are clear and that the additional information is supportive rather than distracting.

Be prepared

Sometimes you will be given a short deadline. You can speed up your response time by having a template with your basic information already created. You'll also benefit from carefully saving copies of proposals you have submitted in the past. You can use proposals sent to similar clients as a reference for making a quick Business Proposal.

Ready to write your own Business Proposal? Rocket Lawyer makes the process as simple as answering a few questions. Get started now!