What’s in a business proposal? This document provides you with a free business proposal template. Feel free to adjust it to suit your needs. No two businesses will use exactly the same format, so it’s important that you understand what the purpose of the proposal is. What are you trying to achieve? Does the format help you do that? If not, adjust it so that it does! Ultimately, a business proposal is comprised of three parts:
- A problem statement.
- A proposed solution.
- A pricing estimate. It’s worth noting that a business proposal is not just an estimate. While you will likely touch on costs in the proposal, an estimate is much more informal, and doesn’t take the whole picture into account in the same way a business proposal does.
How to Create a Proposal. There are many things you will need to cover in your proposal letter. Each different part has a purpose, and altogether they should set out clearly the reason for the letter. Here are five sections that need to be included: Introduction, What is the problem?, How will you solve the problem?, Cost/Schedule, Executive summary.
If you’ve worked with a client before, convincing him or her to hire you on retainer (an ongoing basis) is one of the most effective ways to increase your income. Familiarity with your client’s unique needs, work style, and industry are all powerful motivators to convince them to choose you instead of anyone else.
One of the most crucial skills that small business owners, solopreneurs and freelancers in any industry have to master is making the perfect proposal. Proposals are absolutely essential to your success, as they have the power to land you new clients and projects that can take your brand and income to new heights.
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