In business, you can’t afford to make mistakes. That’s why it’s so important to have a foolproof plan before giving your pitch. Knowing what works and what will get you that contract or deal with the client is key.
But there are also things you should never do when making a proposal – no matter how tempting they might seem at the time. You want to avoid these five dos and five don’ts of making business proposals in order to come out on top every time!
The 5 Dos
1. Do think about both your client and yourself
When you are making a business proposal, it is important to think about your client and yourself. You should be able to see the benefits for both parties. When you can provide something of value for your client, they will be more inclined to work with you in the future. This means that if you treat them right now, they will pay it forward by giving back opportunities in the future. If this appeals to them- then they will want more from you and feel like they owe you one.
If their needs don’t appeal to them- then at least there might be some other way where their needs do match up with what we’re offering which would mean that they might want more from us when those particular needs arise down the road as well.
2. Do market research on your client
When you are making a company proposal, it is important to do marketing research on your client. Market research allows you to understand the needs of the company as well as their business model and financial structure so that they can best look at your offer. If you know their needs, you will be able to do a better job of making the proposal.
3. Do keep your client at the forefront of your mind when developing an offer
When you are making a sales proposal, it is important to keep your client at the forefront of your mind. You should try to keep yourself out of it by not putting any preconceived ideas on them or what you think they might want. By trying too hard to sell your offer, you are going to lose their interest quickly which means that no matter how great your proposal was, it won’t be read in full.
4. Do make a good impression when discussing your proposal face-to-face with your client
During this negotiation, you want to make a good impression when discussing the proposal face to face with your client. There are three things that need to happen during this phase: You need to find common ground, then focus on common interests, and then identify the path to value.
The 5 Don’ts
1. Don’t take your client’s lowest price offer for a “yes”
When you are making a business proposal, it is important not to take a client’s lowest price offer for a yes. It is important to find out what they really need and why they are making that offer. Although you may think it’s a good idea, the client might just be trying to get rid of you as quickly as possible.
2. Don’t ask for too much upfront work before getting paid—even if you’re desperate for cash
When you are making a business proposal, it is important not to ask for too much upfront work before getting paid. You need to find out how much money your client has available and what they can afford to spend. Asking for too much upfront might make them think that the project isn’t worth their time or efforts which means that your offer is off the table.
3. Don’t start with price or send a bottom-line figure immediately
When you are making a business proposal, it is important not to start with the price or send a bottom-line figure immediately. You need to find out what they really need and why they are making that offer first before diving right into the numbers.
4. Don’t be vague with your offer—especially if you’re asking for a lot of money upfront
When you are making a business proposal, it is important not to be vague about your offer which means being clear on the benefits they are getting in exchange for what they are paying. There should also be an explanation of what will happen if they don’t go through with the offer.
5. Don’t be dismissive or seem disinterested in your client’s needs
When you are making a business proposal, it is important not to be dismissive of your client’s needs which means keeping an open dialogue about everything that is said during the negotiation phase so that you can find out what they need. You also need to be interested in their needs so that you can give them an offer that best meets their needs.
One great way to make engaging business proposals is to use Venngage — a free infographic maker that offers a wide range of business proposal templates for every aspiring entrepreneur and business owner out there. Here are some business proposal examples from their website!
When you are making a business proposal, it is important to keep everything in mind. Be sure that you know the needs of the other party and that you put yourself out of your offer by not giving them what they want or expect. By doing this, you will show interest because putting yourself into something means actually caring about what you are doing. If you keep the 5 do’s and 5 don’ts of making a business proposal in mind, you will be able to make an offer that is worthwhile for everyone involved. Start making your own business proposal by clicking here!