Writing a business proposal could be tough. It is a huge task especially when you don’t know what is required of you by mosts clients, but it is tougher when you write for the purpose of knowing your business in detail. Many of us do business and we do not know what exactly what our businee is. All we do know is that we buy/manufacture a product, and we sell. Some of use just know that we provide a service and thats all that is needed to be known. But, you must know the core of whatever you do, this will help you to be flexible about your business and help you in your content creation, stretegy, and planning in the long run.
So on this note, i will list out the things required for most business proposals – the key important things though, and tell you how it can help your business awareness.
Provide company name, your name, title address, email, and business number.
Describe the pain that you’re alleviating or the pleasure you are providing.
- VALUE PROPOSITION
Explain the value of the pain you alleviate or the value of the pleasure you provide.
- UNDERLYING MAGIC
Describe the technology secret sauce, or magic behind your product. The less text and more diagrams, schematics, and flow charts the better. if you have a prototype or demo, this is the time to transition to it. As glen shires of google said, ‘if a picture is worth 1000 words, a prototype is worth 10,000 slides.’
- BUSINESS MODEL
Explain who has your money temporarily in his pocket and how you are going to get it into yours.
- GO-TO-MARKET PLAN
Explain how you are going to reach your customer without breaking the bank.
- COMPETITIVE ANALYSIS
Provide a complete view of the competitve landscape. Too much is better than too little.
- MANAGEMENT TEAM
Describe the key players of your management team, board of directors, as well as your major investors. it’s okay if you have less than a perfect team. if your team was perfect, you wouldn’t need to be pitching.
- FINANCIAL PROJECTIONS AND KEY METRICS
Provide a three year forecast containing not only money but also key metrics. such as number of customers and conversion rates. Do a bottom-up forecast, not top down.
These Information numbered 1-9, was gotten from an infographics on the Instagram social media
so now i will explain how penning answers to them can help you know the core of your business and how your business can grow better.
knowing the following details – company name, your social media & website name, title address, email, and business number are clear indications you have gone far with your business. it means you have branded your business and that your business can be identified both on the offline space and the online space. it gives you a sense of presence.
knowing the problem you want to solve with selling your products or services you provide, or knowing the opportunity you want to take in a loophole will help define how you go about your business.
you should know the value of this proposition. How strong or weak it is will determine how much profit or loss you should expect from the business. it did help you to know if you should stop the business or add more uniquely connected businesses to it to have cummulatively high profits at the long run.
knowing the underlying magic is like knowing what makes your business tick. what are the things that makes your business different, what are your selling points, what are the benefits of customers patronizing you? These helps you know your strength points and your low points to help you adjust.
what is your business model? you should know. Helps you tell the best way you must go about your business.
knowing how to reach your target market without breaking the bank will help you seek out other channels and methods you can use to get to them that aren’t expensive.
who are your competitors? running a competitive analysis will help you know more and research about your competitors.
your management team? your business management? what is it like? describing this wll also help you know if you alone can manage it or if you will need a good management or how your management structure will look like. it is a good eye opener.
financial projections will tell you the truth if you think them through, they will help you know how well to run your cost and expenditure
Written by @chimefrancis1