In the world of business, the start of every new venture, merger, or project begins with a crucial document. If you haven’t guessed it already, yes, it’s none other than the business proposal. In short, the main purpose of a business proposal is to persuade a potential investor to take an interest in your next big idea and become a backer of your new product or service.
Surprisingly, crafting a business proposal is one of the main challenges faced by entrepreneurs. However, it doesn’t have to be that way. Here, we are going to take a quick look at how you can write a killer business proposal without the help of content writing services that will stop investors in their tracks and make them want to be a part of your business venture.
Plan Your Business Proposal
As a rule of thumb, you should take your time when it comes to collecting all the relevant information and crafting a clear and coherent business proposal. This process can take anywhere from a week to a whole month, but the result of a persuasive business proposal is definitely going to make your efforts worth it. However, if you’re worried about the entire thing taking too long, hiring the services of professional business proposal writers can quicken the process.
One of the biggest mistakes that entrepreneurs and business owners make while drafting their business proposal is that they usually tend to copy other proposals, which is a big no-no. It’s important to remember that coming up with an authentic business proposal is crucial since you’re not going to write about a general business idea, but rather, a specific plan of action to show the reader where they fit in the grand scheme of things.
Now that we’ve got that out of the way, let’s get started with crafting your business proposal. A business proposal can make or break your plans for future endeavors with potential investors.
Scope of the Business Venture
You should have all the information you need while outlining the scope of the project. This refers to the amount of work that will be required to achieve the desired result. This is also an excellent time to shine a light on how long the project is going to take and what it’s going to cost. This will require you to have a detailed understanding of your business, the potential investors you’re talking to, and the competition.
Drafting the Executive Summary
You will need to start off with the executive summary of your business. This is basically going to be a 3 to 4-page profile of your business. The summary must cover any questions that the potential investor might have while reading the proposal. For instance:
- What is your company?
- Where is the company located?
- What is your revenue stream?
- How much investment is required?
- What is the investment going to be used for?
- Who are you, and why are you the best person for the job?
And most important of all:
- How long will the investor have to wait to get their money back?
Here’s where you give the potential investor a brief overview of your company’s structure, products or services, finances, and any critical information pertaining to your company.
Introduce Your Products and Service
Now’s the part where you woo your readers. You need to elaborate on the products and services you offer and make a case for your services – why they are the best in the industry, and why they’re worth investing in. Some other information to include in this section will be your current (or proposed) inventory, cost of production, along with any potential to lower these costs, the retail price per product or service, and a sales forecast that’s derived from past sales.
Other crucial information to include is the credit terms of your suppliers, their names and location, and the suppliers that you have worked with in the past. If you’re going to be asking for an investment, then you should provide the potential investor with some details on how you plan to spend their money, as well as how you’re going to get their money back.
Detailed Marketing Plan
You will have to carry out some research on the industry and your competitors to draft a comprehensive marketing plan that is going to be tailored to your business. This marketing plan should include other information such as the company’s management and employees, their daily tasks, and their qualifications for the position. Also, don’t forget to mention the owners and shares of the proposed equipment and facilities in your business, along with any future additions.
Investment Strategy/Terms and Conditions
In this section, you need to let the investor know how you plan on making money, the monetization of their investment, licensing agreements, and your strategy for scaling the company. The final section of your business proposal should include your terms and conditions, along with a clear call to action on the way to move forward.
This section is going to serve as the “ending note” of your proposal, so you should also briefly reiterate why they should invest their money in your business. If all this seems a bit overwhelming for you, then you can always hire professional content writing services to craft a proposal for you.
It’s important to remember that angel investors or venture capitalists don’t have a long attention span, which is why you need to give them the most essential information upfront while keeping the proposal brief. To make sure you get it right, you should hire business proposal writers who will do all the heavy lifting for you.
request for business proposal – DepositPhotos