new business proposal, does it seem like a challenge? Most business owners
would respond affirmatively. The task of writing a new business proposal seems difficult
to most entrepreneurs, but it does not have to be. First of all, do not confuse
a new business proposal with a business plan. Business plans and business proposals
are not the same thing. A
business plan is a complex plan you create before launching
Most financial institutions require the presentation of a business plan in order
to determine if your company is eligible for a certain startup financing loan or
not. On the other hand, you write new business proposals when suggesting a certain
venture or business arrangement to another party and want to outline what your project
is all about. In some cases, you can write new business proposal in response to
a Request for Proposal (RFP). A RPF occurs when a certain private company or even
government agency request a certain partnership and service. In most cases, clear
guidelines regarding the content of a
new business proposal are provided.
As a result, you will need to follow these indications when developing your new
business proposal, which can be a complex and time-consuming process. In other situations,
a new business proposal can be written as an unsolicited proposal from one party
to another, in which case the new business proposal will not be as formal as was
the case with the RFP. That does not mean, however, that it should not be clear
and detailed regarding all aspects of the new business. When writing such a proposal,
you must remember that you are selling the concept behind a proposal to a person
or financial entity which has not manifested direct interest in that venture. You
need to emphasize exactly why and how you consider that the collaboration you are
proposing would benefit both parties involved.
This is not an RFP. You need to convince the person or organization you are submitting
the new business proposal to that working with you and your company would impact
their business in a positive way. Remember that you do not only want to convince
the recipient that working with you would benefit both parties involved, you need
to also explain why they would choose you or your company instead of a competitor.
After all, you wouldn’t want that person or financial entity to simply read your
proposal, decide that they like the concept but give the contract to one of your
competitors, would you? The newbusiness proposal should also clearly specify the
budget needed for your project, a timeframe as far as delivering the services or
goods is concerned and the responsibilities of both parties in order to make the
collaboration work should your proposal be approved.
Try to come up with a list of the main categories you will be including and the
key points you will want to emphasize, and, based on that outline, write the proposal.
Try to be as detailed as possible and include any additional information you might
have regarding any aspect of your proposal. As a final word of advice, treat the
task of writing a new business proposal with the goal of getting an interview in
mind, where you will be given the best opportunity of directly selling your services
to an already interested party.