Small business owners must submit a business proposal to win contracts from large companies or government agencies. The U.S. government specifically encourages contracting and collaboration between small businesses and federal agencies, and it has a direct initiative to ensure that a fair percentage of all federal and contracting awards are given to small businesses. These contracts include designated amounts specifically for women-owned small businesses (awarding $23.4 billion in 2018) and small businesses owned by disabled veterans (awarding $22.5 billion in 2018).
Required Business Proposals
A required business proposal is one that is requested by the potential contract holder. For example, a buyer or government agency seeking an outside company to complete a project or task may allow companies to bid for the job.
Unsolicited Business Proposals
Unsolicited business proposals, on the other hand, are proposals that have not been specifically requested. They are submitted at the vendor’s initiative and serve as a way to attract the attention of a potential client.
Writing a Business Proposal
If you want to write a business proposal that wins a bid invitation or request for quotation or proposal, you need to know what details to address and how your company can excel in this task. Ensure that your proposal stands out by incorporating the following five elements:
Solutions:
After writing a leading paragraph that shows you have identified the company’s needs, provide a proposal on how your company can offer solutions. The key here is to promote only the solutions that you can actually provide and deliver.
Benefits:
The winning business proposal will clearly outline the benefits of working with your company. For example, if your small business is capable of providing complete confidentiality and meeting tight deadlines, make sure to clearly state that in this section dedicated to the benefits of working with your team.
Credibility:
Your proposal should demonstrate credibility. If you have worked with clients in the same field or won any awards, be sure to detail them. Highlight any case studies or endorsements from third parties to build credibility, and include links to public reviews and evaluations of your work.
Samples:
Your business proposal should include samples of what you have provided to other clients as vital proof of your capability to deliver. Even a small sample of your work can briefly showcase your organizational abilities and make a difference in winning a competitive bid.
Targeted Language:
Your business proposal should be a clear communication of intent and capability. Tailor each proposal to the target audience and use language (and terminology) that they find familiar. Showcase your knowledge of the potential client’s industry by using relevant examples and market-related analysis.
You cannot develop a winning business proposal for every potential buyer, but with good practice and consistent execution, you have a better chance of winning new contracts from companies that need what your small business has to offer.
Source: https://www.thebalancemoney.com/the-winning-elements-of-business-proposals-2951193
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