Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
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Asking the question What is a business proposal? is kind of like asking What is a business deal? It could be any number of things.
It could be a paragraph to your boss, with an idea about how your department might do something better. It could be a full business plan style presentation for a long-term multi-million dollar venture.
Is There A Difference Between A Business Proposal and a Business Plan?
Basically a business proposal is a partnership, a joint venture of some sort. It is not a business plan, although the terms are sometimes used interchangeably.
A business plan is designed to raise money. While money is a component is all business transactions, the goal of a "business proposal" is to establish a working relationship to make it happen. It's a way of saying, "I have an idea, I can solve your problem. Let's make it happen together."
What is a Business Proposal in Terms of Finance?
A business proposal could request funding, as in the case of an inventor fine tuning his new concept for a specific company.
But the business proposal could include other things as well. For instance, that inventor might also need access to company proprietary information and support staff.
Can a Business Proposal Take the Place of Business Plan?
You bet it can! This is one of the best ways of raising money that we know of. It is a true win-win situation. It is a kind of joint venture. Approach BigCo with the possibility of funding your project, or joint venturing your project, or becoming your project's first major client. There are a number of ways to approach it.
What is a Business Proposal in Terms of Presentation?
Take a look at what it is that you want to accomplish. If you are primarily seeking funding, you will probably create a Business Plan.
If there are other elements to your business needs (staffing, patents, space to operate, approval by committees, etc.) then you will likely need a business proposal. It may be written or oral.
Whichever it is that you create, do so with conviction. Few people enjoy working with wishy-washy partners. Stand tall and demonstrate how you can contribute to bottom line profit.
There are no wrong notes.
BeBop Composer and Pianist
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