Business Proposals 0

Business Proposal

The growth of contract work has created an increasing need for written proposals. In networking and discussions with employers, you may be asked to consider taking on a project on a contract basis, which usually means submitting a proposal which states in writing your concept of the project and states your fees.

THREE TYPES OF BUSINESS PROPOSALS

1. Letter Confirming a Verbal Agreement, You and the company, have discussed and verbally agreed to proceed with a project. You need to follow up with a letter that outlines what was agreed to, to confirm the details of the arrangement. “This letter confirms our agreement to …”.

2. Solicited Proposal You submit a written proposal in response to either a written or verbal Request For Proposals (RFP) from a company. Other contractors will probably send suggestions. The following content included in your proposal: – introductory paragraph stating the background and need for the project.
– the objectives of the project.
– a description of the work to be done.
– a brief outline of your expertise and qualifications for the project.
– when the project begins, deadlines for each step, and when completed.
– expenses to be paid by the company (if any).
– total fees paid to you by the corporation.
– your name and contact information (use your letterhead, if you have it).

The proposal, if accepted, would then be followed by a separate written contract. Sometimes the project becomes the contract when both parties sign it.

3. Unsolicited Proposal You may decide to submit an unsolicited proposal if, in your discussions with employers, you uncover a need or a challenge that a company faces for which you can provide a solution. In this way, you can create a work opportunity for yourself. Your proposal can be written in the form of a one or two-page letter and should include the following items:.

– a reference to your previous discussions with background information.
– a statement of the company’s problem or need and the results it desires.
– your suggestions for a course of action.
– your special qualifications (skills, experience) for the work you propose.
– when the project can begin and when completed.
– your fees.
– an offer to meet with the company to follow up on the proposal. Tell them when you will contact them for this purpose.

One thing to be careful with in the unsolicited proposal is to avoid providing all the details of your course of action. There is a danger the company can take your great ideas and either do the project themselves or give the contract to someone else. The chances of an unsolicited proposal accepted are much lower than a solicited one unless you have established a solid contact with the company, have discussed the issues with them, and have determined they would be receptive to a proposal from you.