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Get to Know 06 types of Business Proposals

A business proposal is regarded as one of the most crucial documents you ought to learn how to compose. This is what invocates the difference between a win and no win, whether you are a service provider, or you own a company. In these days, business people are tending to spend hours upon hours in submitting business proposals to all possible clients, and in return not getting any results. On the other hand, few people can get the contract after just submitting the business proposal.

Business Proposal-Its Basics

Before start writing any business proposal, one must first understand what the proposal is all about and learn the basics of that proposal.

Any business proposal is that written document that offers a specific product or service to a potential Customer. According to Ben Mulholland, in his article: 6 Types of Project Proposals that Get Approved, there are six types of business proposals.

  • Formally solicited
  • Informally solicited
  • Unsolicited
  • Continuation
  • Renewal
  • Supplemental

Out of all the above categories, solicited business proposals which are submitted in response to an announcement issued by the client and unsolicited proposals that are presented out to potential the Customers though they are not requesting are the principal types.

A formally solicited project proposal is prepared in response to an official request for a proposal. This is the easiest way of creating a proposal for any new project since the Request for Proposal (RFP) document will usually tell us exactly what the customer is expecting and at times, it also provides directions in preparing the proposal. Request for Proposal (RFP) forms is not to be confused with the project request forms though the former is a way to react to the needs directions and desires, whereas the latter one is a way for the management to request for a project of their teams.

Hence, for formally solicited proposals we should opt for a structured approach and have to respond directly to the details that have been relayed, essentially turning off feedback into a quantifiable project which we can then judge the worth of starting.

Informally solicited project proposals are the ones that are same as formally solicited proposals, except the information they are based on is not specific in any written document. Because of this, it makes it little harder to deal with and hence more research is involved in analyzing such type of opportunities, but we at least have a little-jagged starting point. It’s much simpler than a piece of small information that separates formal from informal, that is

Formal proposal requests have prior details, goals, deliverables, and potentially even methods, while

Informal proposals are based on any conversation. If we are asked for a proposal but are not given any specifications, then it is an informally solicited one. The approach for this is not much different from a formally solicited one, but we will have to put some extra work in illustrating the details like the objectives and method, and in evaluating how practical the whole thing is.

Unsolicited project proposals are cold deals. No one asks for this; still, it can provide tons of value for our business. These are the proposals that are thought of by a person who is submitting them and can be inspired by anything like a moment in the employee’s daily work to a casual conversation with the Customer. Perhaps these are called as the hardest proposals to present, as you will have to be extra credible as no one asked for the proposal. Hence we have to be little extra prodding. This means gathering more confirmations than the normal to prove the proposal’s standards. One should take extra care while writing to make sure that it’s more convincing.

Planning for Proposal

Once you are comfortable with what kind of proposal we are presenting, we need to research and prepare for the document content to make sure that we do not miss out any vital information. Though what you write will differ based on the type of proposal we are submitting and the format it is using. In any of the proposal, we must concentrate on the below headers mainly. We have to

  • Define our audience
  • Know what problem the proposal handles
  • Research on the current state of the issue
  • Define the proposal clearly
  • Forecast the effect this would hold
  • Calculate the time and resources that would opt for
  • Moreover, finally, create an outline of the document

We need not worry much about the language that we are using; instead, focus on getting the base facts accurate and covering ourselves for any questions that might counter our proposal. Let’s connect with Zbizlink representative today and start preparing quick proposals.