Any business that hopes to survive long in the market must have a business proposal. However, there are some key elements to include in your business proposal to really knock the socks off your prospect. It’s a common misconception that business proposals and business plans are the same. Often, the terms business plan” and business proposal” are used interchangeably, giving one an impression that the two are the same document.

The cover letter should explain how you found out about the company and why you think they might want to do business with you. The most prominent mistake people make with business proposals is sticking to a single template, and not changing it or adjusting it to match the needs and specifics of the customer.

It’s a document that provides details about your company’s strategy and demonstrates how you intend to grow. But all clients appreciate knowing exactly how much time and money they can expect for this specific project. A final idea to drastically improve the effectiveness of your proposals is to show your client some previous work you’ve done for companies or people similar to them.

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For example, a proposal could be used to wind down a company with the business owner in control, or to conclude non-profitable arms of a business. Just add your inspirational business proposal ideas, creative graphics, and key data to these already visually impactful Photoshop, Illustrator, Word, or InDesign templates.