Business Proposal A business proposal is a document in writing sent by a supplier to a potential client in hopes of aging a project.It explains the particulars of a seller’s offerings and convinces the buyer that the proposed solution is the pathway to their business’s success and productivity at heart.It’s a sales document that includes all the standard information found in similar documents like estimates, bids and quotes.Why is a business proposal important?A business proposal will help you make important decisions on things like cash flow, marketing and personnel. Having clearly defined goals and objectives will also enable you to monitor the business’s performance and make adjustments as you move forward. How to prepare for a business proposal?The heart of preparedness is research and further research. After all, the devil is in the details.Talk to prospective customers, visit website(s), read published articles, and be a know-it-all for your prospective clients.Sort out the ‘who’First and foremost, plough in every possible information about the client:Who is the client (its vision, mission, and goals)?What does it produce?What are its key markets and target customers?What are its business growth plans?Which markets is it presently serving?Also, reckon the main keys of a proposal approval process. This will help you to create a comprehensive proposal with all the necessary answers expected by the decision-makers. Why do you need a business proposal?A business proposal is a testimony in itself that asserts, “I am the best you can get.”Here are the reasons why you should and must make a business proposal:Create or leverage a business opportunity The prime motive is to win, win, and win! It is a medium to en-cash a business opportunity by putting forward an I-can’t-say-no-to-this proposal.Stand out from the competitionIt persuades the prospects that you are way ahead of other rivals in the business’s in terms of the value you offer.