A proposal is a document that outlines the plans or strategies for implementing a project. Like any other business document, its layout is standard; therefore, it must present the ideas of a project in a professional format.
Proposal writing is a competitive process in entrepreneurship, and having basic skills to prepare one can benefit you. Let us look at some of the components making up a business proposal.
Target Audience
Most academicians write them before starting their final year projects. As a requirement, they will use proposals to seek permission from their professors before research. An individual proprietor or a company can write a proposal for contractual purposes. Some tenders may also demand business proposals.
What is the Purpose of Proposal Writing?
- To convince the reader to implement a proposed plan
- To seek donors or investors
What is the Format of Writing a Proposal?
The following parts make up a proposal document:
1. Cover Page
An award-winning proposal looks neat from the start. The cover page can sell you out by triggering the reader’s urge to engage. It includes the name of your organization, contact information, logo, the title of the proposal, and your basic information. Do not forget to write your full name.
2. Cover Letter
The cover letter is another vital component that can boost your proposal. It introduces you to the reader. Start the cover letter with a salutation like, Dear Sir Edward, if you know his name. The body of your letter should have respectful language.
In most cases, you can begin by thanking or appreciating the client for that opportunity. In a few sentences, touch on the proposed project. That will prepare the reader’s mind to engage with your document. A good cover letter should not exceed a page. Finally, you can conclude the letter with catchy closing remarks.
3. Table of Contents
Proposals may differ in length. Some may be too short or very lengthy and characterized by many pages. If your document is voluminous, please include the table of content. The table of content can help the reader to track and maneuver quickly through the pages.
4. Executive Summary
Effectively, your mission is to grab the reader’s attention. Ensure that your proposal contains a brief statement of the problem. You can proceed by indicating the background of the project. Remember to shed some light on how you can handle it and wind up with the main conclusion. Most managers focus on this section for decision-making. Make it clear and catchy to entice them.
5. Proposal Solutions (Method/Services)
This section is the most crucial part of the writing. It outlines the solutions you intend to provide for a given problem. If the reader considers you, explain how you will tackle the task. The ideas should flow well as per the problem statement. This phase includes the anticipated outcomes. It also shows the project schedules, otherwise termed the time frame.
6. Project Timeline
In summary, the managers expect you to state the duration. An impressive proposal will contain timetables, schedules, and other visual illustrations.
7. Project Budget
Did you know that managers are always keen on the pricing section of a proposal? Make sure your project has a reasonable budget. Do not underestimate or overestimate the financial costs. Low-quoted projects often fail, and an overestimated project may burden the client. The client may end up pulling out before the deal is closed. Try to convince the readers why the project is worth their time and money.
Ultimately, you can make use of a pricing table. Remember also to calculate and counter-check the total costs of each deliverable. Some proposals may need you to provide a detailed budget. In such circumstances, please do not generalize the deliverables. Break down the deliverables and show each item alongside its cost.
8. Conclusion
The final thing to do is to wind up with a remarkable closing tone. Additionally, an agreement form should be attached and signed by both parties. If the proposal writer or the client violates the agreement, it may lead to the termination of a contract. Some clients may also resort to legal action.
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