Our 10 Point Business Proposal Template has the critical information you'll need to present to investors and financiers on why your start up is so lucrative. The Business Proposal needs to be no more than a page, short, snappy and contains the salient macro issues.
What We Offer The Customer:
The Numbers in Brief
The Exit Plan
The business proposal methodically encapsulates your idea into a one page summary and it is the launching off point from concept to reality. It is a crucial and centerpiece document for you and for your investors and/or financiers, so take great care that you've considered with care each of the 10 factors as on the template.
Do your research and be certain and confident on every one of these key 10 issues. Any vacillating is a sign you're not sufficiently confident and I'd recommend you delve into the analysis further before embarking on taking the business concept to trading reality.
The Structure of a Proposal:
Nos. 1 and 2 are about you - the Name and Description
Nos. 3 to 6 are about the opportunity - The Macro Issues
Nos 7 to 10 are about what the concept will deliver to the customer and investor.
1. Name - Choose well before starting operations as you'll have to live with this name for a very long time. Changing names after starting a business is an enormously expensive exercise. Be sure to not infringe on existing names or businesses.
2. Description - This is what your business does. Make it sound interesting and appealing. It should describe clearly without jargon so that anyone reading your description on the web will immediately understand what it is you do or supply. This step will not be as easy as you'd think it should be.
3. The Opportunity - The most difficult markets are those that are new or very small. It means it is you who will have to spend the resources (meaning time and money) to educate potential buyers to consume your offering. When starting to explore opportunities, it is far preferable enter into an existing arena where consumers are already predisposed and understand the service or product - demand in these instances, then already exists.
Yes, there will be existing competition, but it is then up to you to determine how to deliver a superior product or enhanced service or a much cheaper alternative.
4. The Competition - List examples of competitors in their various categories such as online, high end, low end, generic market, physical stores, and so forth. Then focus on the segment of market you're starting with and document who are the current suppliers to your target audience.
Understand your competition before starting up. Understand their offering. Know their prices, costings, profit levels if you have access to them. How do they make a profit and from which specific products or services? What are the loss leaders? How can the work be done better?
Why are they not in the market you intend to focus on? Is it because it is simply not profitable and they've abandoned that segment? Do you still want to start in this area, now that you have this data?
What is their drawcard? What brings in the customers to your
identified competitors? Knowing this can you compete? This research is
vitally important in your considerations for starting a business.
5. Target Audience - you've heard the marketing advice "Know your customer". This is where you document how well you do know their demographics, income, spending patterns, why the consume your product. Now, while your product may well suit large numbers of potential consumers, to manage effective marketing when you start operations, you'll target at a small sub-set of this market. Remember the Facebook Story - the focus at the start was College students.
Determine exactly the market segment you'll be targeting at your start, their characteristics and why your business has its focus on this particular segment of the market.
To learn about points 6 to 10 on of this effective business proposal template, click on this button:
Know your industry, the competition, the customers and how your offering compelling satisfies their need well ahead of your presentation.