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A crucial function of running your own business is developing proposals and pitches to increase relationships and close deals. To help facilitate the entire new business proposal process—whether you are a one-person shop or working in a team—here are some tips in developing a proposal that will help you win new business:
Show off your stuff. Include samples of past work that is relevant to the prospect.
Customize and personalize. Take advantage of new media tools by adding video or other multimedia features to your proposal. You might, for example, consider using these features to introduce your team or give your prospect a virtual tour of your work.
Seize the opportunity. Sometimes companies haven’t thought of all the services they need when they put out the initial RFP (request for proposal). So if you offer other, related services that would seem to be beneficial to the project at hand, don’t hesitate to use this opportunity to promote them as well.
Close the deal. Include the contract and terms of the agreement as well as the instructions on how to set up an account with your business so that they can get started immediately if they so choose.
After you’ve sent the proposal, don’t forget to follow up! Never assume that if you send documents or a PowerPoint presentation that they’ve been received. Filters often block large files, so your best bet is to check with them to make sure they received everything.
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
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