By on February 28 2018 09:26:34
Types of proposalsProposals are produced for many different purposes, but they can be split into two categories: solicited and unsolicited.
- The solicited proposal usually begins with a request for a proposal (RFP). Many companies will use an RFP template to give potential suppliers details of what they are looking for in a bid. It will usually give a timeline of when items are due and what they are looking for in the document.
- The unsolicited proposal is initiated by the person who writes it. The writer usually submits it because they have an idea they want to pitch or they want to sell something.
A business proposal is a request by a business or individual to complete a specific job or project; to supply a service; or in some instances to be the vendor of a certain product. It is not a business plan. While you might use your business plan to help inform your business proposal when you’re writing it, these documents are not one and the same.
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.
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.