Definition And Elements Of A Business Proposal
Here’s the situation: a potential client asks you for a proposal for services or products in response to a Request for Proposal (RFP) or Request for Quote (RFQ), but where do you start? This is why market analysis is a key section of your business plan, whether or not you ever intend for anyone else to read it. It should include an overview of how big you estimate the market is for your products, an analysis of your business’s position in the market, and an overview of the competitive landscape.
The Title Page is simply a descriptive name for your proposal-something like “Proposed Manufacturing Process for QRT Widgets” or “Fabrication Proposal for HJK Corporation.” An Executive Summary (also called a Client Summary) is a list of the most important points in a complex proposal, and it’s provided for busy execs who may not have time to read the rest of the pages.
The reason it’s important is because if the deal goes bad, you both have this to refer back to. It also serves as a good exercise for you when writing a good businessÂ proposal as this is all the information you’re going to gather in any discovery phase of the deal.
On the other hand, when a potential client asks for a proposal, they’re essentially saying, I have this problem, but I want you to suggest the best solution and tell me how much it will cost.â€ By requesting a proposal, your potential client is hoping you have an understanding of their needs, or will at least do the research the gain the understanding.
Choose a descriptive name, like “Warehousing Opportunities for FGH Corporation,” “Proposal to Streamline Supply Chain Operations,” or “Efficient Packing and Shipping with ABT Services.” Next, you may need a Table of Contents or an Executive Summary (a list of your most important points), but you can come back and insert these after you’ve written the first draft if you like.