Can you imagine getting a request for a business proposal? This shows your marketing and sales efforts have hit the right target. If you have not received a business proposal by this time, this shows your harrowing work.
But no need to panic. In this blog, we have covered everything. Let’s see what a business proposal refers to, what its kinds are, and some of the examples that can help you better understand the types.
What Is Meant By A Business Proposal?
A business proposal is an official sales document that a supplier sends to the target client to win a specific project. Or we can consider it an official document that outlines the proposed solution and value proposition.
The document is either in a digital or printed format, explaining the product or service features with considerations for the leads needed. In short, we can take it as a document highlighting how a company can solve the customer’s problems. You can get help from services like a business continuity consultant or a business proposal writer. They will guide you in designing a business proposal that can stand out from the competitors.
Kinds of Business Proposals
- Investor proposal
The investor proposal is what the type itself highlights. This document is designed to help hook investors. You can use it to get loans from banks, gather VC funding, or collect investments from people in your network. The objective of the investor proposal is to receive investments of any kind, and these resemble a business plan.
How can we write this proposal?
Investors are interested in knowing that you have a sound business strategy and that their investment is in safe hands. You can write this proposal like a business plan, highlighting the ways they will receive a return on their investment. Narrate the ways you will beat the competitors and provide a snapshot of your product and services or you can use the template to design this proposal.
- Sales proposal
The investor proposal aims to seek investments, while sales proposals aim to sell the products or services to the customers. A sales proposal is a common part of the day-to-day sales process for most companies. They can be lengthy documents in response to RFPs or shorter overviews to close a new contract.
How do you write it?
You can make the sales proposal stand out by highlighting the benefits of your offerings to the organisation. Many companies are interested in knowing who you are and what you do. Instead, focus on writing what your customers will receive after they join hands with you. You can pitch them by telling them that they can save their money and time.
- RFP proposal
This type aligns with the kind of sales proposal that is submitted in response to a formal request for proposals (RFP). While many sales proposals are sent as follow-ups to sales meetings, responses to RFPs are solicited by the customer to review proposals from many companies at once. This is one of the reasons why RFPs are more detailed compared with sales proposals.
How can we write it?
The first and most important thing is to follow the instructions in the RFP for the way to organise and create your response. Like sales proposals, you need to highlight the organisation’s benefits and why you are better than your competitors. You can ask for services like a small business plan proposal or business plan proposal writers to guide you in writing the RFP proposal.
- Project proposal
Project proposal refers to both internal and external proposals for new projects. However, the audience will be different depending on whether it is internal or external. For this proposal, you need to define the project and its goals. You need to discuss the reasons it matters, who will be involved, and the desired outcome.
Way to write it
Think of the project proposal as a mini business plan or investor proposal. This proposal aims to invite companies and departments to invest in your projects. This means that you need to show why this project is important, what your qualifications are to lead the project, and the ways you will achieve your goals.
External project proposals serve as sales proposals for specific projects. All the information related to a sales proposal can be utilised here.
- Grant proposal
Grant proposals are a blend of investor proposals and RFP proposals. The objective is to gain funding to continue the mission of the organisation. While this proposal is for non-profit organisations, there are a few for-profit organisations. Show the ways funding will result in achieving your mission.
How can we write this proposal?
Reflect that your organisation has a strong plan for achieving its mission. If it is possible for you, you can include evidence to show your current success. Think about who will apply for the grant and the ways your organisation will better utilise the funding.
Examples of business proposals
Example 1: A web development company submits a sales proposal to a retail company. The proposal offers to redesign their e-commerce website for better user experience and conversion rates.
Example 2: A non-profit organisation submits a grant proposal to a charitable organisation to secure funding for a new environmental project focused on forest conservation.
Example 3: A consulting firm will present a partnership proposal to a large corporation to provide ongoing business strategy services and optimise its operations.
Example 4: A telecommunication company sends a sales proposal to a business selling their internet and phone service at discount rates.
Think Before You Choose a Business Proposal
Your designed business proposal depends on the company’s type and size. You need to look for the target audience and offer potential solutions.
Proposals aim to target the clients’ needs and demands. You need to convince them to buy your product or service. Analyse their needs and then choose the type of proposal. After analysing and understanding the requirements, build a solid business proposal that nobody can turn down.