A well-written product proposal can open new business opportunities. However, you should also know how a poorly written proposal can weaken the existing customer base you worked hard for.…continue reading
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What Is a Bid Proposal?
The main purpose of a business proposal is to persuade clients to let you perform the work. A construction bid proposal covers a wide range of situations that can be anything between commercial and residential. Because of that, a proposal may specialize in one thing—whether electrical, HVAC, roofing, plumbing, full-blown construction, government RFP responses, or small projects. However, any service-oriented proposal’s goals are the same: introduce your organization, highlight your services, describe the costs, and convince the client that you are trustworthy enough for the job.
Based on a report by Statista, the construction industry in the United State is positively growing. By 2022, it is forecast to reach over 1.53 trillion US dollars. Moreover, there are more than 27,000 construction firms in the US in the present.
The Different Types of Proposals
Each proposal you read is specifically written for a certain cause. Like in construction, contractors do not pitch the same proposal to all prospective clients, especially when there are competing bids. Otherwise, they will lose the opportunity to win the bid. Hence, an effective proposal should be targeted at a specific client and it must be tailored to that client’s needs. Below are the common types of proposals you should know about.
How to Write a Compelling Bid Proposal
If you want to make the winning bid on a construction project, your proposal must look professional and indicate all requirements needed. Submitting a bid proposal means competing against other contractors. That is why you need enough time to hit all the key points. Below are some tips on how to do it:
1. Include an Executive Summary
A proposal for a complex project needs an Executive Summary section. It is often called Client Summary in less formal but still complex projects. This should be informative enough that a client does not need to read the entire proposal to decipher its purpose. It also recognizes the client’s concerns and shows that you care for their priorities better than anyone else who has already proposed to them.
2. Identify Scope and Work Schedule
Most conflicts arise in the specification. That is why one of the proposal’s main focuses is identifying the project scope and work schedule. Do this by being as detailed as possible and strive for no ambiguity. In some cases, clients think that you agreed with doing something that was never in the proposal.
3. Paint the Bigger Picture
Imagery is unconventional for construction proposals, but it helps clients digest all the information quickly. When there are images, you give the reader a visual relief and short breaks from the textual and numerical content. By putting all facts into infographics, graphs, and tables, it can be easy to read.
4. Describe the Cost
Writing a construction proposal could be a tough challenge for being in the business. But even professionals who write business proposals for a living feel the same way. The why there a need to describe the billing statement to let your client know what comes across and what goes beyond the scope of work crucial for the project’s completion.
How is a proposal different from a plan?
A proposal and a plan are two different documents. The main difference between the two is that a plan is a written presentation that sets out goals and steps in achieving those goals while a proposal is a call to action that convinces its readers to do something on what is being proposed.
What are the major parts of a bid proposal?
- Project Details
- Scope of Service
- Evaluation and Submission
When to use a bid proposal?
Businesses send proposals to prospective clients to obtain their target jobs. It can be solicited or unsolicited. Solicited proposals respond to a request for proposals (RFP), which means that the client has already decided to make a purchase. On the other hand, an unsolicited proposal is a sales presentation specifically designed at a well-defined and limited activity level.
Competitive bidding helps a client choose the best price and contract terms for a project. When a client sends a request for a proposal or RFP, they send it to several other contractors. It means you need to compete with these companies. With a compelling bid proposal, you will secure success and win the bid.