Content

• Steps
• Method 1 of 1: Preparing a business proposal
• Tips

The old adage "who does not plan to fail, plans unsuccessfully" is always true, but it is especially true when it comes to developing a new business idea.

Whether you're looking for investors, persuading your banking agent, or just looking for supporters, a carefully crafted proposal should be a good starting point for you.

There are some important aspects to consider before taking up the pen.Use the following steps as a handy guide to preparing and crafting a proposal that can help you win.

Steps

Method 1 of 1: Preparing a business proposal

1. 1 Carry out the necessary research! Study your business idea thoroughly before you start doing anything, this way you will save time, health, and possibly even money. Ask yourself three important questions: 1. Is there a demand for your product or service (and how big is it)? 2. Does anyone else do this or something similar? and 3. Can you consistently implement your idea within your current constraints, or will you need to create a specific environment to do this, be it an office, website, supply chain, and so on?
2. 2 Solve arithmetic problems! If research shows that the idea has the 'potential for success', then you will need to estimate as accurately as possible the costs of preparing a business idea for launch AND the costs of keeping it running. How much income do you expect to receive? How much start-up capital do you need to get it up and running? Most new businesses do not make a profit during the initial stage of their formation, as they need to cover start-up costs, including payments on loans, costs of starting a business, marketing, accounting, legal fees, licensing (if necessary) ... the list goes on. ... As a rule, it is recommended to work out a forecast of financial receipts, profits and losses for the first 3 to 5 years. A good business idea, if implemented really well, should start to generate at least some profit during this period. If you are not in a position to pay the expenses yourself, then you have to ask the question, is it worth doing it at all ... remember that the money of the business (production) is not your money. If you mix them up, a situation may arise in which business people are in trouble !!
3. 3 Compose and write down your proposal. A good business proposal should contain at least the following sections: a description of what your business idea is (and how you came to understand it), detailed market research (demand, the presence of competitors and prospective customers, and so on), financial section (profit and loss, forecast of financial receipts), details of your implementation (labor resources required, technology, estimated location), marketing strategy (how you will sell / promote / label a product or service) and pricing strategy ( the cost of your product or service to customers).
4. 4 Study taxation and registration issues as needed. You may need to consider several organizational approaches and processes in order to meet the stated requirements. These aspects also need to be detailed in the proposal.
5. 5 Never make any assumptions that could be interpreted differently. Many good ideas have failed to gain support just because the person who studied the proposal did not understand its essence. Everything in the proposal must be explained in a very intelligible and popular way, especially if you propose to consider it to someone who does not have confident knowledge in this area. This is especially important when you are submitting your proposal to a credit institution.
6. 6 Be concise and clear and to the point. If there is too much water in the text, then at best it will confuse people, and at worst it will raise suspicion.
7. 7 Get an independent opinion on your proposal. A fresh eye is often able to spot errors and omissions that the author himself was unable to notice.
8. 8 Make sure you have everything you need to communicate your proposal clearly. Convincing graphics, promotional illustrations, prototypes, and a well-designed document layout can make a good impression and look more professional. Consider various options to make your proposal more memorable, and if you have graphs and charts, always print them in color. Be prepared to give an oral presentation in support of your proposal.

Tips

• Consider the need for some training. Typically, there are many short-term courses available at local polytechnics, business incubators, chambers of commerce and so on to help you draft your proposal, applications, funding applications, and introduce you to the rules and requirements that apply to your business. - idea.
• Talk to knowledgeable people. There are many places where you can get free or inexpensive advice. Talk to people in related businesses, contact small business startups (there is a small business development corporation in Western Australia), local colleges and government departments ... you will be surprised at how much information and advice you can get. if you look carefully!
• Believe in your idea! Even when you have a well-written and well-developed written proposal on your hands, remember that only the commitment and enthusiasm of the bearer of the idea can often move it further!
• Find a good accountant and consider hiring a business consultant.