A business proposal is a documented, formal offer to provide a product and/or service to a potential buyer (a prospect). The proposal can be in response to a formal Request for Proposal (RFP) which is a solicitation issued by the prospect that is seeking bids from providers. The business proposal documents the provider’s bid. Other names for a business proposal are a sales proposal, consulting proposal or bid.
It typically includes brief description of the prospect’s problem, why you can solve it better than anyone else, your general approach to solving it and the approximate cost to solve it. It also includes brief description of your organization and the people who will be working on the problem.
Too often, the proposal writer uses one of the standard business proposal templates that guides the writer to produce a generic proposal. However, a proposal is much more likely to be convincing to the prospect if it is highly customized to the nature and needs of the prospect.
This article provides complete guidelines and extensive free resources to highly customize your business proposal.
All About Business Proposals