Types of Business Proposal
1. Sales Proposal
Sales proposal is written to sell an item or idea to a company. It is usually used for research and project request. Sales proposal is used to attempt to propose new idea, products or services. First, it is essential to educate potential customer or client about your product or service to offer. Then, you have to provide convincing statement why the customer needs the product or service. At last, illustrate the return of investment (ROI). A product or service demonstration should also be included in order to know the benefits and advantages. An effective sales proposal has an increase the chances of attaining positive results.
2. Grant Proposal
It is written to request money that does not have to be paid back from government or private donors. The US government as well as some private foundations and public corporations gives billions of dollars in funding to individuals and organizations to be used for particular projects. This financial support requires no repayment as long as it used to fund the project for which it was allocated. The money or the funds is called grant that can be given to individuals, non-profit organization or not-for-profit companies, foundations, charitable or educational organizations. A successful grant proposal will be awarded the funding.
The following are the subsection of project description
- Goals. It is often refer to a general, long term change such as a change in enterprise development, environmental awareness, drug prevention, employment generation, etc.
- Objectives. It is a measurable outcome of your proposal or program given a specific time period. It should be tangible, realistic, and challenging yet achievable by your organization. Also, it should be specific, concrete and measurable.
- Program methods, design and plan of action. Identify how your project is expected to work and solve your stated problem or need. You can include activities and output that will occur during the implementation, flow chart of the organizational requirements to illustrate various parts of your organization and plans for the measurable results.
- Staffing. Discuss the number of staff requirements, their qualifications, and specific assignments in your proposal.
- Evaluation. Evaluation plan should be included in your proposal because it indicates that you take your objectives seriously and you want to know that you have achieved them at the end of your project.
- Sustainability. Your project proposal should be made sustainable long after the funding has ended.
The project evaluator has no enough time to read the entire proposal so but only the executive summary. Your executive summary should be concise and specific. The key concern of the Funding Organization should be briefly identified and addressed in your Executive Summary in relation to your proposed project.
The best time to prepare your Executive Summary is after you have completed your entire proposal and you completely understand all aspects and the interplay of the components of your project proposal very well.
Make your Executive Summary be your last piece of writing when you write your proposal and then insert it at the beginning of your proposal.
Always remember to give your best writing performance in your Executive Summary. Your Executive Summary will most likely form a very strong impression in the mind of your evaluator.
Grant proposal is a formal document written and submitted to government or entity that offering a grant program. It is a written request for monetary assistance in the form of a grant.
Some corporations, foundations and government agencies give out of billion of dollars in grants to companies. It is important to have a valuable skill to write good grant proposals. The following are components to have a good grant proposal.
- Abstract. Brief summary which clearly describe the proposed project.
- Need Statement or opportunity. Define the current situation that your project will address. Focus on the problem and make the problem fixable with the grant money and the problem must be significant to warrant funding.
- Project Description. Describe the project and explain how to solve the problem. Convince the reader that the project is the best way to solve the problem.
- Goals and Objectives. Identify the things want to accomplish and things to achieve. It must be specific.
- Project Activities. Provide timetable that shows the activities to carry out the project.
- Evaluation. Describe how the project being monitored and the result will be evaluated. Includes the criteria how the project is being evaluated and the persons who conduct the evaluation.
- Organization information. Sometime it is necessary to include the outline of the organization including its history, accomplishments, and qualifications of key people and so on.
- Budget. Clearly identify how the money will be spent in the project. Provide detailed expenses for the project.