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A business proposal is simply a document that acts as a guide on how to operate your business, your business’s SWOT analysis as well as what measures to be taken in order to realize its bottom line. A Good business proposal should have both the mission and vision statement clearly defined which generally defines what a business is expected to achieve. A business proposal further contains the purpose statement, which basically defines the reason for having the business plan in the first place, such as acting as a guide for all business operations.
It is important to note that all other parts of your proposal will boil down to the purpose, vision, and mission statements. It is thus worth noting the mere fact that only when you have clarity of vision, mission, and purpose will you be termed as ready to venture into your business. The second advantage of a business plan is the fact that it acts as a road map on how your business venture is supposed to operate. Theoretically, it is a guide of some sort that anyone who wants to understand the operations of your business should read through and follow. A good business proposal should suffice even when you are not there physically to oversee the day to day operations of your company.
It acts as clarity of vision with well-defined short-term and long-term deliverables and timelines of the same. This justifies the huge popularity of proposals among business owners looking for investors to partner with. With such clarity of vision, it means investors are highly likely to approve whatever requests you make with your business proposal.
Last but not least, business proposals help business owners to analyze risks the company is likely to face such as legal suits due to bad business practices. Other risks that a good business proposal addresses include the risk posed by your competitors. The best part about defining risks is ensuring the proposal clearly defines how such risks should be minimized or averted. Talking of risks, your proposal should help identify how best to analyze your competitors in the market, or how to have a business lawyer on board.
You need to have enough time, do a lot of planning and research, and put forth some effort to be able to come up with a good business proposal. Even so, the benefits of such a proposal will always overshadow the rigorous preparation process. Even so, most businesses today are leaning towards business proposal templates, and in particular the Bidrik business templates that are easy to customize to your specific business goals.