Before you can start a new business or a new marketing strategy for a business, you need to do reliable business research first. However, studying business growth or even the business trends can be costly. That is why, before the real business research, you should present first the basic business research proposal.
With a business research proposal, you will defend whether the financial research, customer research, or report research you are planning to undertake will bring benefits for the company or the venture you want to enter. This proposal will provide the topics, methods, and processes that the research needs. You might even be required to write long articles not only about the business trends but other topics that will help realize the feasibility of financial research, report research, or customer research.
Now, how will you prepare this important paper that will convince the investors that this certain research proposal is needed for business growth? Here are the steps to prepare the business research proposal:
1. Research Topic. First of all, you should decide what you will research about. The right topic will lead you to a successful research, which will also lead you into an approved proposal. When thinking of a topic, make sure that you will tackle only specific areas instead of broad areas that are difficult to manage. Researching on broad areas is always possible. However, it will most probably be unmanageable. So, instead of studying how the people of USA reacted on your new TV advertisement, you can limit the study to the female population of the USA or concentrate on one state or city only.
2. The Format. Academic people are meticulous when it comes to following the standard research proposal format. However, in the real world, you will not need to follow those traditional formats. Instead, you have to frame your format so that your proposal will be readable and understandable. If this is your first time to write a business research proposal, then you should study an example to get ideas. The common business research proposal will be contain these sections:
- Title Page
- Table of Contents
- Chapter I – Introduction
- Chapter II – Background of the Research
- Chapter III – Methods for the Research
Keep in mind that you will have to add separate chapters on the discussion of the study’ results, as well as recommendations and conclusions. But these will be done only after the study has already been conducted.
3. Timeline. Decide how long will it take for the business research to be completed. Do not be too idealistic on the time-frame, though. Finishing the research in one week will definitely impress your boss but if you cannot handle the task and fail to deliver, you may provide your boss a bad image of you. Think about how many days or weeks you will need to finish the business research. Do not forget to give some time allowance for troubleshooting and other potential mishaps that can occur in the midst of your research.
4. Presentation. Imagine how you will present your business research proposal. Remember, your goal is for your proposal to get approved. The way you present it will be one of the deciding factors. Prepare a presentation file and projector, t instead of simply handing out copies of the proposal articles.
And the most important thing, be motivated with the proposal. For as long as you believe in the benefits of the business research, you will be able to defend it well and share your vision to your boss or the investors.