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Winning elements of a successful business proposal

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CIOL Bureau
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BANGALORE,INDIA.

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There are times when SMBs have to submit a business proposal to obtain contracts from government or even big enterprises. A business proposal is totally different from a business plan, which is written to run your company and raise capital. A business proposal is an unsolicited or solicited bid for business. Basically there are two types of business proposals — solicited and unsolicited.

Solicited Proposal

It is a kind of business proposal in which an open bid is placed on the market by a corporation or government body which is seeking a business to fulfill a project or complete a task. All companies interested compete for the same and the best bid wins the project.

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Unsolicited Proposal

Unlike solicited business proposal, unsolicited proposal is used if one wants to do business with a big company or enter into a joint venture. Here one needs a well-written business proposal which can win the hearts and minds of the target audience.

Also read: Cost cutting tips for your business

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A proposal that stands out in the stack of competitor proposals can only win the game. Following are the 5 key winning elements of a successful business proposal.

Deliverable: Apart from the lead paragraph describing the company's needs and problems, one should have strong back-up presentation describing the deliverables your business can promise. This is the first key to win a business proposal.

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Trustworthiness: A business proposal will only glow if it has trustworthiness. One of the most forgotten element of a business proposal is credibility. If a proposal displays trustworthiness, then its percentage of acceptance are likely to go up.

Benefits: All winning business proposals have a strong benefit statement. If your small business is able to put a credible and strong benefit statement with complete confidentiality, and promises to meet tight deadlines, it will definitely steal the show.

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Proof: A business proposal with proofs and samples of one's ability to deliver is vital to gaining the winning bid. One can mention about the previous projects handled and exhibit a small sample of their work which can evidence the ability to do the job.

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Clarity: Communication is one of the most important keys to winning business proposals. The proposal should speak in a language which the targeted audience can understand. For example, if one is framing a business proposal going to be evaluated by finance personnel, then one should use correct financial jargon in it.

Also read: 5 steps to improve your cash flows



Ultimately one should try to cook a perfect dish with correct ingredients. In the end, one may not win all bids, but will win business that best matches their company.

Source: http://sbinformation.about.com/