By James Harris at March 06 2020 11:18:11
How Will The Audience Know That I have Used A Sample? This is a common question we get asked and while we cannot speak for the entire investment community we can refer to our own experience as investors and former bankers. Here is a list of the top ten reasons why it is obvious that a sample has been used: Executive Summary is dull and formulaic without communicating why we should invest. Market information doesn't align with the specific demographics relating to the proposal or is obsolete. Entrepreneur's knowledge of the market dynamics is sketchy under questioning and it is clear that what they have written in the proposal is the sum total of their knowledge on the subject.
Every entrepreneur has been there. You need to write a business plan to get your idea off the ground and have no idea how to approach it. The first thing most people do is Google, "Sample business proposal." Why? Well, it's quite simple really. They want to get a head start on the process by looking at what someone else has written. It is an understandable position to take if you are under pressure and need a boost. What people don't realise is that there are inherent dangers in using a sample business proposal.
So How Should I Use A Sample Business Proposal? We genuinely believe that using a sample business proposal is not a good idea unless you are only looking for a structural outline. Even in this case you would need to scan a fairly broad cross section of examples to get a representative sample to form an independent opinion. There is nothing more frustrating than a pitch which doesn't flow and where the entrepreneur is clearly "winging it". We have rejected more pitches for this reason than any other.
Finally, to wrap up your proposal, persuade your client or funder that you are the right choice for the job by adding pages like About Us / Company History, Capabilities, Our Clients, References, Credentials, Awards, and Testimonials. Include everything you need to convince your client or funder that you can be trusted to deliver on your promises. Conclude your proposal with a call to action: ask for the client's business or support, tell the customer where to subscribe or purchase your goods or services, or request a meeting for further discussion.