A Business Proposal is presented to place an official business deal for a specific solution. Business Proposals play very important part during sales process of any product or services. In any business proposal it includes requirements of clients and services of partner against these requirements. After successful deal business proposal will be made in which both partner and client agree on certain points. Highly professional and all the multinational companies always depend on such kind of proposals. They don’t precede their deal without it. There are many types of proposals but most commonly these are as follows:-
- Formal Proposals
- Informal Proposals
In these kinds of proposals each and every requirement is written in it. Both parties are agreed upon this proposal and legally they are bounded to obey it. If any body part of this proposal wants to withdraw this proposal he should take consensus and opinions of members of proposal. Basically it’s a back bone of any successful deal.
The requests for such proposals are placed by the customer following their specific requirements. Such proposals are issued to qualify the vendors which can provide the products with some specific requirements or solutions. These proposals are most commonly practiced by the IT related organizations which require the solutions and some new implementation needs.
Here is preview of this Business Proposal Template created using MS Word,
Informal solicited proposals take place among the selected vendor and some prospective customer. The interested customer in some specific product or solution asks for the proposal of that product form the vendor under the discussed prescriptions. In such a case the customer does not ask generally for the proposals of other vendors but only the particular vendor.
The management of the business proposal is a technical job as it is the key for the success of the business deals. At the same time this management of the business proposal poses a huge burden on the sales team because it demands a lot of the research work prior to put forward any statement for the respective customer. All the profits and losses of the business from the respective customer depend upon the presentation of a solid business proposal.
The important contents of the business proposal are;
- Description of the business
- Market view for the respective business
- Competition and feasibility of the business projections
- Management of the business
- Personnel interests involved from both sides
Similarly the financial data is also summarized in the following projections;
- Sources available for funding
- Equipment lists for the business plans
- Break down analysis and balance sheet for the whole business plans for the costs and effects
The supporting documents which are attached with the business proposal are the personal resumes, job description statements, the financial statements, and reference letters from at least two potential customers for future reference, all the other legal documents and bank statements for the financial proof.
For assembling a successful business proposal the first and utmost need is to identify the exact needs of the business and then after this identification build up the solution for meeting those specific needs keeping yourself within the minimum budget.