Effective Business Proposals
One of my key takeaways in creating practical business proposals is being creative and not limiting yourself to PowerPoint presentations. While PowerPoint presentations may look well-organized and structured, they may fail to present a business proposal’s full picture. According to Karpis (2017), using detailed evidence to support a business case is the best strategy that ensures the real picture of the business proposal is achieved. By adapting more analysis and deep thinking is more effective than using bullets on a PowerPoint.
Another key takeaway is focusing on potential customers rather than the product first. I think this is an effective strategy since the product being developed is targeted to potential customers. Working backward from the potential customer to the product ensures all the customer’s needs have been met. For instance, by understanding the potential customer’s interests, income levels, and demographic details, the company can anticipate the potential customers’ needs and preferences, thus ensuring that the product is well-suited.
A business proposal should ensure that it uses data and evidence to back up every business proposal analysis. The proposal should rely on hard data such as evidence on the potential customer’s need or interest in the product or service. This gives the management confidence and trust that you have done your research in ensuring that the business proposal is viable. Using data also eliminates the errors that are associated with speculation or projections. Using evidence and data ensures accuracy for the business proposal, which makes it much viable. By embracing critical thinking, the business proposal appears attractive to the management or investors, giving them confidence in the business proposal and the presenter’s ability to fulfill or implement the business proposal to fruition. By using all these takeaways in the business proposal, it becomes more effective, presentable, and one that grabs the business manager’s attention.
References
Karpis, P. (July 31, 2017). 3 Strategies for Writing Business Proposals from An Amazon Exec. Forbes. Retrieved from https://www.forbes.com/sites/paulinaguditch/2017/07/31/amazons-director-of-new-ventures-explains-how-to-write-a-business-proposal/?sh=64b83b97ee3f