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What is a Business Proposal?
A written business proposal is a legal document that a business owner or salesperson sends to a prospective client to win a job. Customers often request business proposals from companies to get an idea of what work is needed, how much it will cost, how long it will take, and what qualifications the company has to complete the job.
What's Included in a Business Proposal?
Successful business proposals are all-inclusive of all the information a customer needs to decide whether to do business with a particular company. Business contract lawyers specialize in ensuring that each detail of a business proposal is accurate and reflects all the information needed for such a decision.
Here is a rundown of what a business proposal includes:
- Cover letter
- Title page
- Table of contents
- Statement of issue
- Approach and methodology
- Qualifications
- Schedule and milestones
- Cost
- Payment schedules
- Legal measures
Check out this article to learn more about what's included in a business proposal.
How to Write a Business Proposal – Step by Step
Writing a business proposal might sound intimidating, but it's not as difficult as you might expect. Business contract lawyers typically complete the work in nine simple steps.
Here's a description of each step in the process:
Step One: Decide How to Format Your Proposal
The way you format your proposal significantly impacts how well it will convince the requestor to hire you. You must make sure the document is easy to read, broken up into the right sections and is not overwhelming to look at.
One of the best ways to accomplish this is by using a contract template to guide you. This takes the format work out of it and leaves you to focus on the meat of your proposal.
Step Two: Create a Cover Letter
The cover letter includes high-level information about the job, how the issue will be solved, and what qualifications the bidder possesses that makes them suited to complete the work. It can also include a summary of pricing, schedules, and legal matters regarding the job.
Step Three: Craft Your Title Page
The title page identifies the parties to the business agreement. It contains this information:
- Name of the bidder and the bidder's company
- Name of the person requesting the proposal
- Date
Step Four: Write a Table of Contents
The table of contents helps define words used throughout the proposal to ensure that anyone that reads it thoroughly comprehends what the document says. This portion of the proposal should always be placed after the title page and before the body of the proposal.
Step Five: Draft a Statement of Issue
This section of a proposal is intended to identify the needs of the requestor. It gives the bidder a platform where they can demonstrate that they understand the issue.
Image via Pexels by Sora Shimazaki
Step Six: Describe Your Approach and Methodology
The approach section of a business proposal describes how the bidder plans to solve the problem or complete the job. While each of the previous areas of a business proposal are high-level overviews, this is the first portion of the document that should be very detailed. It should contain an in-depth look at how the bidder intends to fix the problem.
While this section is designed to be as detailed as possible, everything should be explained in layman's terms. This ensures that the requestor doesn't get lost in confusing jargon, discouraging them from choosing the bidder to complete the work.
Step Seven: Describe Your Qualifications
The qualifications section of a business proposal is where businesses describe the skills and qualifications they have to complete the job. This section is significant because it sets bidders apart from the competition, making it easier for requestors to choose the right bidder.
Step Eight: Outline Project Schedule and Milestones
The schedule and milestones section of a business proposal describes how long the job will take and what actions will be taken in which timeframes to get to the finish line. Many bidders find it helpful to break jobs down into sections, also called milestones, to best communicate how they plan to tackle the job.
Step Nine: Quote Cost, Payment Schedules, and Legal Measures
Business proposals exist to allow businesses to win jobs to make money. The last section of a business proposal outlines how much the job will cost and the payments. It should also describe what actions can be taken if payments are late or missed altogether.
This portion also includes details about legal measures that govern the business proposal and relationship. If any special licensing, permits, or other formal documents are needed, they will be outlined here.
This section might also include details about these:
Here is an article about how to create a winning business proposal.
Types of Business Proposals
There are two different types of business proposals: unsolicited and solicited .
Unsolicited business proposals are sent out to potential customers even despite not being requested. These proposals are helpful for companies that see an opportunity to provide a service to a client who may not know how to benefit from the services.
Unsolicited business proposals are especially valuable to companies who are new to their platform. It allows them to market their services to gain their first clients and build their reputation as an authority in their field.
On the other hand, solicited business proposals are requested by an entity searching for someone to complete a job or project. Requestors can send requests for proposals directly to specific clients or place the project as "out for bid," which alerts qualified business owners about the opportunity to decide if they want to place a bid.
Solicited business proposals are significant for clients who want to make sure they hire the perfect person for the job. Since the submission contains all the information they need to make a hiring decision, requesting a proposal is the best way to organize a pool of applicants.
Learn more about the types of business proposals by checking out this article .
Business Proposal Examples
Business proposals are legal documents that exist to tell potential clients about services a business has to offer. Here are some examples of the types of business proposals out there:
Solicited Business Proposal Example
Teyana decides that she wants to hire a website designer to recreate her company's website. She asks around and gets referrals to three separate web design companies. She requests a proposal from each of them and compares the terms of each to help her decide which person to choose. In the end, she decided to hire a company that combined the most experience with the most competitive rate.
Unsolicited Business Proposal Example
When Kareem checked his morning emails, he came across a business proposal from a local landscaping company, which described the company's services to make his home office have better curb appeal. Even though he didn't request the proposal, he found that he was interested in the company's services. He contacted the company and decided to move forward with the proposed work.
Learn more about business proposals by reading this article .
Get Help with a Business Proposal
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Meet some of our Business Proposal Lawyers
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I am a solo practitioner with offices in Denver, Colorado and Austin, Texas with a focus on general business and real estate contracts.
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Michigan licensed attorney. A compelling combination of technology, sourcing, sales, and legal experience. Over 20 years in technology positions negotiating technology engagements and contracts. General practice legal experience. Significant IT contracts experience (from IT sourcing/procurement) with the State of Michigan and Zimmer Biomet (Fortune 500). Excellent people, negotiation, and writing skills; keen eye for continuous improvement. Trusted business partner co-leading or supporting cross-functional integrated business/IT projects.
Michael C.
A seasoned senior executive with experience leading the legal and compliance functions of healthcare entities through high-growth periods. I have experience managing voluminous litigation caseloads, while also handling all pre-litigation investigations for employment, healthcare regulatory, and compliance matters. Similarly, I have led multiple M&A teams through purchase and sale processes, including diligence and contract negotiations. Finally, I have extensive contract review experience in all matters, including debt and equity financing, healthcare payor contracting, vendor and employment agreements, as well as service and procurement agreements.
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Whether you're thinking of starting your own business and not sure how to bring your vision to life, or you're a business owner, creative professional, creator, influencer, artist, musician, startup, nonprofit, or entrepreneur who wants to grow your business and protect your content and brand—I can help. Get experienced legal counsel, quality representation, and creative solutions customized to fit your unique needs. Services include: entity formation, business issues, planning, financing, and strategy; contract drafting, review, and negotiation; intellectual property protection; copyright and trademark filing; startup and nonprofit setup and guidance; real estate matters; property purchase, sale, and leasing; assistance with legal issues related to content creation, branding, design, writing, film, music, art, entertainment, social media, e-commerce, marketing, advertising, data and privacy compliance, and more. Questions? Let's work together. Reach out and say hello.
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Stephanie C.
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Benjamin V.
My practice involves counseling businesses and individuals on a variety of contracts, such as business formation, technology/IP, real estate, leases, and even domestic relations agreements. Much of my practice is dedicated to litigation. As such, I approach contract and transactional work from a litigation perspective by advising clients of the risks involved in failing to develop proper contracts. It takes more than knowledge of the law to be a good lawyer. A good lawyer is honest and forthcoming with clients and has a counseling ethos. And, to me, a good lawyer stands in the shoes of the client when considering how to best serve that client. Whether my client is a business or an individual, I am passionate about helping my clients understand their rights, responsibilities, risks, and possibilities.
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