Suppose you have an amazing idea for a project, and the more you research it, the more you think it’s worth trying. If the project works out, it could be a game-changer for the industry or organization. But wait?! How do you ask people to fund your project and buy your ideas? The simple answer is writing a proposal that is compelling and leaves an impact on investors.
In this guide, we’ll tell you about everything involved in proposal writing. How you can write a compelling proposal that would help you get the funds you want for your project. So, let’s get started!
What is Project Proposal?
A project proposal is a document that defines everything that an investor or a stakeholder needs to know to start the project. It is the first step in starting any project. In order to write a compelling project proposal, you need a few skills such as project management, data analysis, research, and copywriting.
The project proposal should contain:
- Executive Summary.
- History or Background.
All these elements combine to form a compelling project proposal.
How to Write a Convincing Project Proposal?
You should remember that you’re writing a proposal to persuade the key people to support and fund your project. You want the decision-makers or stakeholders to side with you and help you turn your idea into a reality.
Your proposal should speak with them and motivate them to take the necessary steps and give you greenlight for the project. Here are a few steps that would help you write a convincing proposal:
- Define the Problem
The first step in a project proposal is to address or define the problem. Tell them the problem you’re trying to address, explain why it is a problem, and why it’s worth solving. Remember that the decision-makers don’t give much time to read a proposal; it is crucial that you grab their attention at the start.
You should use data and research to back up your assertions. The data will help you grab the attention and make the proposal more convincing.
- Present the Solution
The next step is to present a solution to the problem. Define how you would solve the problem? How your project will help in solving the problem? You should also discuss and justify why other solutions won’t work.
You should defend your solution in all the way possible. For example, you should explain why your expensive project is a better solution than a less expensive solution? You should explain the impacts of your solution in the long run. Again, it is essential that you should back your solution with data and research.
- Project Outline
Now that you have discussed the problem and stated the solution, it’s time to discuss the project outline. In this section, you’ll talk about project feasibility, the deliverable attribute, and the success criteria, which will tell the investor how your project will be a success.
You should also include a probable delivery date, which means when your project will be complete. The project outline should consist of your project strategies. For example, will you be using in-house staff or consultants or a third-party contractor?
- Budget & Cost Outline
In this section, you’ll talk about the budget and cost of your project. Try to breakdown your project cost and tell the reader how you’ll meet the challenges and deadlines. You should try to provide as much detail as possible.
A detailed breakdown of cost and budget will make an impact because stakeholders will think that you know what you’re doing and you have done your research. Remember that you don’t have to guess and be concrete to make an impression.
- Conclude your Proposal
End your proposal in the conclusion section; briefly summarize the problem, solution, benefits, and cost of your project. Highlight the key points of your proposal by citing the facts and figures.
Finally, proofread your proposal and make sure that it is free from errors and that you have stated all the facts and figures correctly. Proofread your proposal not once but twice or thrice, check the tone to make sure that your proposal looks professional.