Your business success and income always depends on having a regular stable of clients, but sometimes, old clients may not throw you as much business as usual. That’s why being able to submit high-quality and persuasive proposals on a regular basis to various prospects is the key to always keeping your doors open as a small business.
Business Proposal vs. Business Plan. Quite often, the terms “business proposal” and “business plan” are used interchangeably, giving you the impression that they are one and the same. But they are not. A business plan is a “formal statement of a set of business goals” and how these would be achieved. These documents sometimes can be included in a business proposal.
The main objective of submitting a business proposal is to offer a solution to a problem faced by a prospective client. This part should be as detailed as possible, and able to address each and every need you have discovered.
A beautifully created and well-written proposal can land you new clients, jobs, and projects that you might never have dreamt of before. All that consequently leads to your solopreneur brand only getting bigger and more well-known, which is the ultimate goal. Writing great proposals, submitting winning bids, and tracking client payments are an important part of running a successful business.