Once you’ve completed your initial phone call with your prospect and gone through the Prospect Intake Checklist, it’s time to prepare a project proposal.
This is your professional presentation to help you land the assignment and sign a new client. Prepared properly, it will demonstrate how you heard and understood the prospect’s needs and how you can solve their problems.
Your proposal should include at least five parts —
project description, investment/pricing, terms, deadline, and revisions. Some proposals include copy about cancellation fees, legal responsibility, ownership, or results. However, I save that copy for the Agreement I present to the prospect once they accept the proposal.
Keep your proposal short. Most proposals will fit on two or three pages.
Project Description
This section is a recap of the work discussed in the initial phone conversation. Depending on the complexity of the work, you’ll want to mention each deliverable included in the project.
You can use this section to explain why you’re the best person to complete this project.
Investment
Some people might call this “pricing,” “rates,” or “fees.” I use the term “investment” because it conveys the idea the project is an asset. In this section, specify the rate you’re charging for each deliverable and the total project fee. Include how long this proposal is valid. This last point is important as you want to maintain control over your schedule.
Terms
If you require a down payment before you start working, identify the percentage and when the remaining amount will be due. For smaller amounts, you may choose to have the entire fee paid up front.
Deadline
Indicate if you’re scheduling a deadline or if that will be determined together.
Revisions
Include the number of revisions that will be allowed at the rate you’re quoting.
Single- or Multi-Option Versions
If your initial phone call with your prospect was for a clear-cut project, you’ll probably want to submit a Single Option Project Proposal.
But, if you discussed several ideas or elements, you may want to go with a Multiple Option Project Proposal. This gives you the opportunity to present two or three project choices.
With the single-option version, there’s a 50-50 chance the prospect will say no. The multi-option version dramatically increases your odds of landing the project.
The first choice you offer is the primary project you discussed in the phone call. This is the bare minimum the prospect wants. The second choice includes a few more of the elements you discussed, while the third choice contains everything that would make the project a complete package.
Many prospects will choose the second version because they don’t want to appear “cheap.” This is a great way to upsell your prospect before you even land the job.
Next week, we’ll talk about preparing the project Agreement.
