A business proposal is simply a document that acts as a guide on how to operate your business, your business’s SWOT analysis as well as what measures to be taken in order to realize its bottom line. First and foremost, a good proposal defines the mission, vision, and purpose of a business venture. A business proposal further contains the purpose statement, which basically defines the reason for having the business plan in the first place, such as acting as a guide for all business operations.
It is important to note that all other parts of your proposal will boil down to the purpose, vision, and mission statements. To make your proposal implementable, you as the business owner have to be sure of your expectations, so you can define these basic tenets that will hold your business together. The second advantage of a business plan is the fact that it acts as a road map on how your business venture is supposed to operate. It means other people, especially employees, can make reference to it to determine and ensure they stay true to the original intention of the business. A good business proposal should suffice even when you are not there physically to oversee the day to day operations of your company.
Further, a good proposal clearly defines long-term and short term business deliverables, thus acting as clarity of vision. This justifies the huge popularity of proposals among business owners looking for investors to partner with. With such clarity of vision, it means investors are highly likely to approve whatever requests you make with your business proposal.
Last but not least, business proposals help business owners to analyze risks the company is likely to face such as legal suits due to bad business practices. Other risks that a good business proposal addresses include the risk posed by your competitors. Generally, your proposal should include both the possible risks as well as measures that ought to be put in place to avert the said risks. Such measures including hiring a business attorney and regularly assessing how your competitors are doing in the industry.
You need to have enough time, do a lot of planning and research, and put forth some effort to be able to come up with a good business proposal. However, the advantages are always worth the effort. Even so, most businesses today are leaning towards business proposal templates, and in particular the Bidrik business templates that are easy to customize to your specific business goals.