Successful businesses don't just sprout like mushrooms. Most of them are not created alone by individuals; they go through a lot of people before they can actually become operational. If you're planning to start a business, you would probably have to write a business proposal for one reason or another. It could be to acquire a loan to get starting capital, or because you want to entice prospective partners to join you, or maybe you want a company that's already established to help you with the start-up. Whatever your reason may be, you have to know how to write a business proposal and how to do it well. This article will show you how.
Know your business. Determine if you want a sole proprietorship, a partnership or corporation. Research about the industry you're going to focus on. Don't bluff your way through the proposal.
If you know anyone who's already made a business proposal before, seek his advice. He would know what to put and what not to put into it. Look at the proposals he's made before, so you can have a more concrete idea of what you have to do.
Before you write your proposal, make a business plan, which will serve as your guide. This business plan contains a description of your business and its goals. It also contains information on the current information status of your business. Refer to it once in a while, so you'll be able to keep track if your proposal is still in line with your business plan.
Start with a description of your business. Explain in clear language what product or service you are offering. Give an overview of your business and state what your advantages are over other businesses, which are in the same field. Promote your business by highlighting any advances, which it has achieved. Make sure that the people reading your proposal will get a clear picture of your business just by reading this summary. Grab their attention right away.
Afterwards, go into the details. Write about how you intend to make the business work and operate. Explain the management set-up and how each member of the management team will function. Go step-by-step, to make things very clear. Do not assume that the person reading your plan will understand the intricacies of the business right away.
Present financial documents of your business. Use graphs and charts if you must, for ROI projections and other similar information. If the business plan is being presented to get a loan, you will have to attach more financial documents. You might even need the help of an accountant in order to comply with the requirements of potential loan partners.
At the end of the proposal, summarize the important points, just to remind the reader of what your objectives are.
Use clear language when writing your proposal. Laymen should not have a hard time reading it. If there are technical terms, explain them properly. Be sure that your grammar is impeccable, prospective partners and clients get turned off by wrong use of the language.
Have someone else proofread your proposal before you actually distribute it. Make sure your proposal is presentable. Use good quality paper and then bind it. Make as many proposals as needed, do not give the impression that you're being stingy with the number of copies.
Just follow these simple steps, and you'll be on your way to making a very good business plan.