Proposal

Easy guide to boosting your business proposal acceptance rate

November 12, 2014

Increasing your business proposal acceptance rate is not just about improving your writing skills. It means taking into account everything from preliminary research to follow-up steps. Before you even move on to the writing your part, the very first step you should take to increase your chances of acceptance is getting to know your client well. Everything from the language you use to the structure of your proposal depends on the specific needs of your client. Before you start drawing up your plan, make sure you carry out an extensive research into your prospective client’s company and try to gain an in-depth understanding of your their business philosophy

The first page of your proposal is reserved for the executive summary. For clients, the summary is the first point of contact with your business proposal, and it can often be the decisive factor in their decision. A typical business plan summary includes basic information about the company and an overview of the main points. Keep in mind that an effective summary should be less focused on a detailed product description, and more on recognizing and meeting the client’s needs. Try your best to be as specific as you can when identifying problems and offering solutions. Your want to convince the client that your proposal is worthy of an investment, and this will be hard to do if the summery is too vague and all over the place.

The rest of your proposal is where you should offer a detailed overview of your ideas by focusing on market interest and your client’s benefits. The first thing your client will be interested in reading is how your product fits the market’s interest. You need to present them with a detailed market analysis and customer testimonials supported with research data. Once you explain how you can meet the market’s interest, you need to show the investors what they themselves get out of your business plan. Focus on recognizing your client’s problems and clearly demonstrate how they can benefit from accepting your proposal. Be realistic when talking about the profit, and make sure you include market research data to support your financial forecast.

Pay special attention to the language you use in your proposal. The tone should strike a fine balance between informal and formal, and the style should be plain and conversational. Avoid generic terminology, but also don’t try to impress your client with obscure terminology. Be confident and persuasive by using active instead of passive voice, but steer clear from overly technical, incomprehensible phrases. Your goal is to get the client on the same page, and the best way to do this is to be clear and precise when writing your proposal.

Once you finalize your proposal and send it out to the prospective buyers, make sure to keep track and stay involved. The most important thing you can do is to be patient. Don’t start phoning or emailing your client the minute you submit your proposal.  Give them enough time to read your business plan and think everything through. If you don’t hear from them after a few days, you can phone or send an email just to confirm they’ve received your proposal. Establishing a dialogue with the client increases your chances of acceptance, so make sure you stay available and encourage them to contact you for any further questions.

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