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How to Write a Business Proposal
Developing a great business proposal is one of the most important things you can do for you new venture. Chances are that you are trying to solicit investment capital from prospective investors with your business plan.
Your intended audience will include:
- venture capitalists
- corporate management
Remember to be persuasive, and to direct your presentation to the needs, desires, dreams, and aspirations of your audience.
You Need To:
- Get the investor’s attention.
- Motivate them, and get them excited about your proposal.
- Appeal to their needs and understand the nature of the problem they want solved by investing in your business (how will this investment benefit them?).
- Convince your audience that you have a well-thought-out business plan.
- Prove to them that there is a market for your product or service.
- Demonstrate that you have the management and operational skill to accomplish your plan.
- Demonstrate that your business will make enough money to provide the promised returns to your investors.
Writing Your Business Proposal
Cover Page – Your cover page should be decorative, but use this as an opportunity to present your logo and business name.
Table of Contents – The proposal should look professional, so you should include a table of contents at the beginning of your report.
Executive Summary – Provide a detailed overview of what your business is, the services it will provide, where it will be located, and your target customers. You should also outline your budget goals and needs. The business plan should also include something like a four-year plan.
Mission Statement – Your company should have a mission statement that serves as a reminder of the business goals and purpose.
Key Environmental Forces – This is an opportunity to describe why your company will be successful. For example, say you want to open a shop in an airport that offers spa services. You can explain how the rapid pace of technological advancements has influenced business globalization, further increasing travel and working time. Thus, more people are traveling and needing relaxation services while waiting in airports.
Objectives and Strategies – You should list clear objectives that outline your company’s goals. Include actual dates for when the company will open for business, a goal for when the company will break even financially, and performance goals within the first six months (just to name a few examples). You should outline the detailed strategies your company will use to achieve these goals.
Retail Mix Plan- Take the opportunity to describe your company’s plans:
- Merchandise Plan
- Customer Service Plan
- Store Location Selection (facilities available and design)
- Pricing Strategy
- Promotional Plan
Human Resource Plan – Outline your goals for forming a management team, hiring employees, and the employee structure of your company. Provide analysis of pay wages, job descriptions, and benefits the company will offer.
Financial Plan – Make solid statements about your company’s financial goals, like: The key element to our financial plan is initiating, maintaining, and improving the factors that create and increase our cash flow.
Appendix – Use the appendix to provide examples of what the store/offices will look like and floor plans. You can provide a map that will show your company’s location. You can show an example of your pricing plans for customers. Present profiles for the vendors that will serve your company.