Essay #3 Business Proposal Directions in Full Tips
There are Several Parts• Cover/Title Page• Letter/Memo of Transmittal• Table of Contents with List of Illustrations (optional)• Executive Summary• Introduction• Discussion Sections• Conclusion
Cover/Title Page• Title: Proposal for Town of _____ (fill in the blank) Small Business Grant• Come up with a name for your company• Come up with a company logo• “Prepared for ______” (Town Board of ____ (name of town). TIP:Spacing, Fonts, Logo, and Layout are Important
Letter/Memo of Transmittal• Use the company logo in your heading• Write to a specific person on the town board - - find out the name and address of the town supervisor or mayor
Letter/Memo of Transmittal TIPS:• Proper Business Letter Format is Important.• Do not put in too much detail at this point but do include enough to create a positive first impression. 250 words, maximum.• Refer to the small business grant and your application—you are submitting a proposal to receive a grant of $150,000.
Table of Contents• Follow the outline provided in the textbook and on Blackboard• Your subheading under Features and Benefits will differ from the subheadings in the sample proposal in the textbook - - think carefully about your subheading titles
Suggested Subheadings in TOC– Overview of Business– Location of Business– Immediate Benefits– Long-Term Benefits– Potential Concerns– Competitors– Initial Plans for Grant Money
Table of Contents TIPS:• The wording of the headings in the TOC should match that of the ones you actually use within the proposal text.• Page references should be correct.
Executive Summary• Present a concise overview of your proposal’s most important points. DO NOT merely repeat yourself.• Make a brief mention of the town’s need for your business/service and how your business/service will meet that need. TIPS:• Your first sentences should engage your reader’s attention.• Focus on only 2-3 “selling points” - - do not go into too much detail.• Limit yourself to 250 words.• Write the summary after you have finished the entire proposal.
Introduction• State the purpose of your proposal: You are seeking a $150,000 small business grant from the town• Provide an overview of the town: Why does it need your business? What is going on now? What do residents do now, without your business/service?• Provide an overview of the current economic/demographic context: Who is living in your town in 2012? What needs do they have at present? (Do some research about this.)• Describe how your business/service will meet their needs.• Include mention of your expertise.
Introduction TIPS:• There are various sites that provide demographic information including real estate sites. However, start with the US Census site: http://www.census.gov/#• If you use outside information at this point, remember to cite it.
Discussion Sections Suggested Subheadings• Provide supporting information in this section; this is the longest part of your proposal.• Subheadings: – Overview of ________ (Use the name of your business/service); provide a detailed description of your business/service and your target customer base. – Proposed Location of _____ (Describe—include a map—the location of the business, explaining why it is suitable.) (The map will be an outside source.)
Discussion Sections– Competition: Identify regional competitors. How will your business/service stand out from that of competitors?– Immediate Benefits to _____ (name of town); explain the immediate (within the first 12 months let’s say) benefits that your business/service will bring to the town.– Long-Term Benefits to _____ (Discuss the long- term benefits)
Discussion Sections– Possible Objections: This will depend upon what type of business you are starting. If you can honestly not think of any, then leave this section out.– Initial Use of Grant Money
Conclusion• Summarize your main points briefly, stressing the benefits to the town.• Look to the future. What are your next steps going to be assuming that you get the money?• Reassure your reader that you are around and are willing to answer follow-up questions.