A business proposal is different from a business plan. It is a written document that has no more than five pages with the idea of proposing a service or product to a company or individual. A business plan, on the other hand, is a document which outlines the company’s future with respect to the objectives, strategies, and goals.
A business proposal addresses three areas of content. The first is the objectives. You will need to list your company’s objectives. The second is the opportunity. You will need to list what opportunities your product or service offers. The last area is the solution. You will need to list how your product or service can benefit the business or individual. You may want to include financial benefits in addition to support your claim.
Often business proposals are written offers from sellers to prospective buyers. It is required whenever a buyer considers more than the price. Business proposals are developed for one of two possible reasons.
- You may have contacted an organization to provide a service or product. As a result, they have requested a RFP (Request for Proposal). In this case, you may be one or one of several bidders that are seeking to provide a service or product in a document that must stand among possibly dozens of submissions.
- You have an idea, concept, or project that you want to propose to someone with the purpose of obtaining support, funding, or an alliance. In this case, there is no competitive bidding process. However, your proposal must make a favorable impression and must explain all aspects of your proposed concept clearly and directly.
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