5 Tips for Writing a Business Proposal That Gets Results
Did you know that only 3 percent of small business proposal ideas will become successful businesses? To be more specific, according to the National Foundation for Business Growth, only about 18 out of every 100 business ideas will result in a successful business. So, how can you improve your chances of getting funded? Well, there are a number of things you can do to increase your chances of getting funded, such as writing a business proposal that gets results. A business proposal is a document businesses use to secure funding from investors or lenders. This document has three key parts: the business proposal, the funding request, and the response to the funding request. If you want to secure funding from investors or lenders, then you’ll want to follow these five tips for writing a business proposal that gets results.
Build your case
The first step in building a business proposal is to build your case for why the investor or lender should invest. You’ll want to start with a good overview of your company and then move on to what you need from them. You’ll also want to discuss the risks, costs, and benefits of investing in your company.
Start with a strong financial proposal
You’ll start your business proposal with a strong financial proposal. This should include the following information:
– How much you are requesting from investors or lenders
– The timeline for the project
– Detailed budget for the project
– A summary of how this project will positively impact the company’s success
The stronger your financial proposal, the better chance you have of getting funded. If you’re looking for investors to fund your company, then this is especially important, as they will want to see that you can handle a large, expensive project. They will also want to see that it’s a sound investment that has a high potential for success and a low potential for risk. This is one of the most important parts of your business proposal and should be well laid out and detailed with relevant numbers so that it shows potential investors why they should invest in your company.
Stay focused and to-the-point
The first tip for writing a business proposal that gets results is to stay focused and to-the-point. You won’t want to go on tangents or talk about unrelated topics. Stick with the basics and include only what’s necessary in order to secure funding.
Use measurable results
One key thing to remember when writing a business proposal is the importance of measurable results. Investors want to know that they’ll get a return on their investment, so they need to know what they’re investing in. Remember, if you don’t have any tangible numbers, then how can you prove your worth? This also goes for your request for funding. For example, say you’re asking for $500K for marketing purposes. You should include a detailed breakdown of how much money will be spent on what and why it’s necessary for the success of your business. What this does is demonstrates the level of thought you’ve put into securing funding from investors or lenders.
Offer unique or customized solutions
Offering unique or customized solutions is one thing you can do to help your chances of getting funded with a business proposal. When investors or lenders read your business proposal, they want to know what makes your company better than others? Why should they invest in your company instead of someone else’s? This is where unique or customized solutions come into play. To illustrate, let’s say you’re a graphic designer and you want to get funding from an investor. You could point out that the majority of designs on the market are very similar, but not yours. Your designs stand out because they are different than anything else on the market. That would be considered a unique solution and it would make you more likely to get funding for your company if you mention this information in your business proposal.
Writing a proposal can be difficult.
With a little research and preparation, you can write a proposal that will impress your potential customer.
Here are five tips to help you create a proposal that gets results:
- Build your case
- Start with a strong financial proposal
- Stay focused and to-the-point
- Use measurable results
- Offer unique or customized solutions