class 5: Proposals, business plans, and formal business reports Flashcards
informal proposals format (in order)
intro
background, problem, purpose
proposal, plan, schedule
staffing
budget
authorization
what is a proposal, what is the purposes
solve problems
provide services
sell products
can be solicited or unsolicited
can generate millions of dollars in income
solicited proposals
they want the proposal
persuade reader to understand problem completely
“give me proposal”
unsolicited proposals
they don’t really want it to being with
convince reader that problem exists
harder cause has to be like a pitch
intro + background, problem and purpose of the proposal
what should you write in this part?
explain why proposal is being made
identify problem or key issue
discuss goals
suggest speedy results, low costs, or remarkable resources
basically, its the purpose of the project
promise solution or benefit
proposal, plan, and schedule of proposal
discuss plan for solving problem
explain proposition and benefits to reader
specify how project will be managed
show how progress will be monitored
include schedule of activities
staffing/ human capital in proposal
describe credential and expertise of project managers (can include resumes)
identify size and qualifications of support staff * other resources
budget in proposal
list project costs
prepare this section carefully as it includes contracts
protect yourself from rising costs with deadline for acceptance
no room for error
authorization request in proposal
close with request of approval or authorization
remind key benefits and motivate action
include deadline (after it passes it, it is invalid)
include model contract that responds to the request for proposal (RFP)
components of formal proposals (in order)
copy of request of proposal (RFP) included in front matter
letter of transmital
abstract or executive summary
title page
table of contents
list of illustrations
intro
background, problem, purpose
proposal, plan, schedule
staffing
budget
authorization
appendix
basically, it is way longer than informal proposals
letter of transmittal
addresses the decision maker
presents major features and benefits
abstract
technical summary of proposal highlights
executive summary
business summary of proposal
since a formal proposal is much longer, what must be included to guide reader and ensure clarity
basically, all the extra shit you added
title page
table of contents
list of illustrations: includes each figure table and page number
appendix(es): additional material of interest
summary has to be gyu to grab attention
what are grant proposals
money received for your business with no need to repay
submitted to government or civilian organizations
explain project
outline the budget
abstract/needs statement of a grant proposal
explain problem or situation grant proposes to address
body of grant proposal
what does it do
explains significance of problem
explains how funding will solve problem
short and long term goals (must be S.M.A.R.T.)
detailed action `plan
budget
plan to measure progress
what is a business plan
describes how you intend to achieve marketing, financial, and operational goals
critical for securing financial support of any kind
components of business plan
letter of trasnimattal
mission statement
table of contents
company description (form of business)
product or service description
market analysis
operations and management
financial analysis
appendices
executive summary (written last)
letter of transmittal of business plan
explains reasons for writing
provides contact info
describes business idea concisely with benefits to investor
includes summary of market
brief note of competitors
reasons why plan is worthy
mission statement of business plan
explains purpose of business and why it will succeed
executive summary of business plan
written last
highlights main points of business plan
product and service description in business plan
what do you have to convince to investors
explain what you are providing and how it will benefit the customers
explain why is it better than competitors
explain why it will be profitable
market analysis in business plan
discuss market characteristics, trends, and projected growth
identify target market: how will you attract and keep customers
competitor analysis: strength and weaknesses
operations and management in business plan
explain how business will be run
location, equipment, personnel, and management
highlight and well trained staff and advisors (if you have any)
financial analysis in business plan
realistic start up budget
present operating budget for costs
explain how much money you have
explain how much money you need tp stay in business
what is a formal business report
document that:
analyses findings
draws conclusions
recommendations to solve a problem
similar to formal proposal in length, organization and tone
what should the front matter of a formal business report contain
cover (made or venial or heavy paper to protect and professional)
title page
letter or memo of transmittal
table of contents
list of illustrations
intro
letter or memo transmittal of formal business report
what is included in it
announces topic + who authorized report
briefly describes project
highlights recommendations
closes with appreciation for assignment suggesting follow up actions
list of illustrations in formal business report
includes list of tables, illustrations or figures
proivde separate lists of tables and figures
place lists on same page as contents if possible
tips to write executive summary in business report
outline with headings
follow report sequence beginning with purpose
vag on non essential details
ideally is one page but control length
intro of formal business report
describe problem’s background and significance
describe data sources methods and key terms
close by previewing report organization
body of formal business report
discusses, analyzes and evaluates research findings or proposed solution
arranges findings in logical segments
clear, descriptive headings that explain each major section
appendix(es) of formal business report
supporting survey forms, copies of other reports, tables of data, large graphs
tips for formal business report to be gyu
what should you avoid
avoid I and We
can a proposal be solicited or unsolicited
yeee boyyy
how to protect yourself from rising costs in a proposal
with implementing deadlines boyyy
is there room for error in the budget side of proposal
nah mate
to whom grants are often made
are often made to charities, educational facilities and non-profit organizations
with what can a business plan be written
can be written using software such as Business Plan Pro or business app such as Enloop
in the business plan, should you use the direct or indirect approach
formal or informal approach
direct and formal
clear and concise
in the business plan, is it important to under promise and over deliver
ye boooy
but remember than execution is the most important
without execution, its just money to the garbage
in the executive summary of a report, is it important for it to follow its sequence
how long should it be
yeeee boyyyy
one page max
how many time should you proofread and revise
three times
