What is the so-called biz plan? How is business proposal differentiated from a business plan? What is the importance of having a business plan? Why do we need a business proposal and how to have a strong business proposal? These are only a few questions being asked about a business plan.
Let us start with differentiating business plan from the business proposal. The business proposal is a business document that is being presented to a prospective or potential client in order to obtain a specific job. It is where the purchaser or buyer writes up his requirements on this document and if they are compatible with the product and services of the seller then the business deal is acquired and finalized. Writing a business proposal basically configured the building block of a certain corporate business deal. It is then very important to have strong and effective business proposal in order to convince the prospective client or investors to have a deal with you and accept your business offer. In writing a business proposal, it must be professionally and properly written as this is one of the key requirements in order that your business will be successful. Your business proposal must stand out from the rest of your competitors to be able to attain your business deal with your potential clients.
Whilst, on the other hand, business plan commonly refers to written documents wherein the outline is comprehensive stating about your business, your visions, and your missions or goals. A Company Profile is essential requirements for startup or existing business for either large companies or small businesses. A business plan would basically serve as the skeleton or structure of your company’s business and furnish benchmarks or point of reference to visualize if you are actually achieving your business goals or objectives. Your business plan is your helper to track your business growth or progress.
In a simplest way of differentiating business proposal and business plan, business proposal is a document focusing on the sales intended to illustrate or describe how a business company will undertake and approach a specific project, affirm the value of that said project to the prospective client, seek and convince on client’s business products and services. Wherein business plan is a document with detailed facts presented to the potential investors or partners. A business plan is a communication, management and planning tool wherein it is used to attract and acquire investment capital, obtain and secure loans, convince potential investors and attract possible strategic partners in the business. In addition, having a strong business plan helps you monitor, trace and assess the business growth and progress thus helps you gauge and make the competitive comparison on the projections over the actual business accomplishments or achievements.
In broaden perspectives, the business plan is vital for huge companies even for small businesses whether startup or in existence. A business plan is a corporate document that layouts the fundamentals about your company, business, it’s products and services, the target market, your business objectives or goals, and the strategy on how you will attain and reach your goals. In writing a business plan, comes the marketing plan and the financial plan. A business plan for small business is more simple and concise structure of your business compared to the business plan for huge or large companies. Basically, the business plan comprises the following components:
- Executive Abstract or Summary
- Business Company Description
- Market Study and Analysis
- Organisation Company Management
- Sales or Marketing Strategies
- Funding or Capital Requirements
- Projections of financials.
How do we write a winning business proposal? Here are some points that should be taken into account for writing a business proposal.
- First, study and analyze the requirements
- Secondly, try to understand the perspective or potential clients
- Come up with a methodology by doing a research
- Assess the solution
- Outshine or exceed your business competitors
- Put into writing or draft your proposal.
- Review, Proofread, revise or edit and go to finishing touches.
There is the so-called online Bizplan business planning application tools that usually offers guidance and delivers huge assistance to its users. The application software can be simply understood and easy to manage thus it provides sufficient flexibility and pliability for the users without prejudicing or compromising the fresher or beginners. Thus it also permits other associates to access, revise and share easily the data or information. But it is then advisable to seek business plan help to the expert writers for writing an effective and strong business plan for your company. Better to consult the business experts that losing the chances or opportunity for closing the business deal and make a successful and thriving business ahead.