How to Write a Business Proposal for Sponsorship
Do you want to learn how to write a simple business proposal letter using the techniques that big businesses use?
Are you among the number of people looking for how to write a business proposal? Writing a good business proposal can be all that stands between you getting the contract that you so desire.
The problem, however, is that you don’t know how to write a business proposal to a company or organization. Writing a good business proposal is an essential step that needs to be taken for you to secure a contract with any company that needs a proposal.
When the proposal is written well, it can put you in a position to be in the front foot in the race for who will win the contract, and even if you don’t win, the contractors will definitely have you in mind next time.
As an entrepreneur with a company that provides a service, you need to learn how to write business proposals to an investor as it is an important skill.
What is in a business proposal? How do I write a business proposal for sponsorship? How do you write a proposal? What is the format of a proposal?
In this article, you will learn how to write a business proposal that your competitors wish they wrote. Here are the steps to follow;
STEP 1: Gather as Much Information as Possible
When you are about to bid for a project, you need to fully understand what is required of you. It would be pointless to submit a proposal for a project that you do not have the technical or financial ability to handle.
STEP 2: Ask Enough Questions
Your business proposal should answer the needs of your clients. For you to be able to do this, you need to understand what the client needs. Put yourself in the shoes of the client and see the problems they face from their perspective. Contact the client so as to clear up any misunderstanding that might come up or that you might have.
You could call to find answers to questions like these:
- Have there been any previous attempts to solve the problem?
- Why did these attempts fail?
- What is the timeline for the project?
- Is the budget for the project fixed?
STEP 3: Outline the Scope of the Project
Outlining the scope of the project means that you take into consideration every angle that the project will take. It means answering the questions of “who, what, where, how, and when.”
Who: Who will handle the work, who will manage the work, who will answer the customers’ queries?
What: What tools or processes will be required do it, what is the expected outcome of this service?
Where: Where will the work be carried out, where will it be delivered?
When: When is the project to start, when will key milestones be set, when is the project due to be completed, when will you get paid?
How: How will be work be executed, how will it be deployed, how would you achieve customer satisfaction, how will risks be minimized, how would the customer gain from the work?
STEP 4: Write the Business Proposal
All the previous steps have been leading to this one. After you have fully understood what the clients want and you have also prepared ways to answer their needs, you are now ready to write the business proposal.
Writing a business proposal usually follows these format:
- Title Page
This usually includes basic information, like the name of your company and also your contact information. You could also include your company logo if you have one, the date of the submission and also the title of the proposal (this is usually the service that your company wants to provide).
- Cover Letter/Introduction
A cover letter acts like your introduction. Introduce your company and mission statement in a way that concerns the need of your client. The cover letter gives a brief information about how your company was formed and also mentions attributes that make your company different from the rest. Make sure your introduction is clear and concise.
- Table of contents
This is not necessary if your business proposal is a short one. However, if your proposal is long, it would be necessary for you to provide a table of contents. The table if content should list the contents of the pages and also the page numbers. This would make the proposal neater and also allow your clients to find the pages with ease.
This is the most important section of your proposal. In this section, you highlight why you are the right company for the job. You should be careful when writing the summary because it can either make or break you.
In the executive summary, you should be persuasive and write in such a way that the clients will get the message that you want to get across. Your language and use of words also depend on the type of company you are submitting the proposal to.
For example, submitting a business proposal to a law will mean that you need to be formal, while you might want to be less formal when submitting to a startup run by young entrepreneurs.
The important thing here is that you present your company in a way that makes the client want to hire you already.
- The body
This section gives a summary of the answers to the questions that were asked in the scope of the project. Pricing, size of workforce, sourcing of materials and other issues are discussed in this section. How the project will be handled and managed, what will be done to make the project be completed within the scheduled time should also be documented.
This is your last shot to make the client consider you. In the conclusion, make your client remember what you are going to offer them if they hire you. Make mention of previous outstanding projects that you have worked on.
STEP 5: Follow Up
After submitting the proposal, you need to follow up. Call the company to check if they got the proposal assuming you sent it by mail. Also, make yourself available for questions or clarifications that might come up.
Contact someone in the company to follow up, be careful when doing this, so it does not seem like you are trying to bribe your way to win the contract.