ENC 3250, Professional Writing University of South Florida, Sarasota/Manatee Fall 2015 Week 10 Length of this lecture audio (14 slides): 00:35:33 Jot

ENC 3250, Professional WritingUniversity of South Florida, Sarasota/Manatee

Fall 2015 • Week 10

Length of this lecture audio (14 slides): 00:35:33Jot down the three audio codes and the numbers of the slides where they are spoken -- you will be sending those and the Week 9 audio codes with the Assignment 4 outline by 6 p.m. on Nov. 2, 2015.

© 2015 by T. E. Roberts, Instructor

ASSIGNMENT 4Option B: Business Proposal

Option C: Business Plan

Week 10 • ENC 3250, Fall 2015 • Business Proposal or Business Plan • Slide 2 of 14

Week 10 Agenda• Definition of proposal

• Purpose of proposal option for Assignment 4

• Proposal as lifeblood for every business

• Three-part process: research, planning, writing

• Eight components of a proposal

• Feasibility or Recommedation Report

• Business plan purpose

• Ten components of a business plan

• Business plan advice and format

Option BPROPOSAL

Option CBUSINESS

PLAN


What Exactly Is a “Proposal”?

• When Company A (the “vendor”) wants to sell something to Company B (the “prospective customer” or “client”), A presents a proposal to B

• In ENC 3250, we are focusing on a FOR-PROFIT proposal in a BUSINESS-TO-BUSINESS scenario (nonprofit proposal is outside our scope, but if you prefer that kind of proposal, contact me)

• Do not confuse “proposal” with “business plan,” “marketing report,” “feasibility study,” or “investment prospectus” -- these documents differ considerably

• If you do not understand the terminology and concepts, either learn them or stick with something you do understand for Assignment 4

OPTION B: BUSINESS PROPOSAL


Purpose of Proposal Option

• This option is of particular value if you expect to be employed in ...• Sales

• Marketing

• Promotion / public relations / publicity

• Sales engineering

• Nonprofit or for-profit business development

• Professional writing and editing for business clients

• Skill in preparing winning proposals or business plans is highly rewarded in both for-profit and nonprofit worlds

• To succeed, you must either have or develop an instinct and technique for effective SELLING



Proposal Is Lifeblood

PARTNERSHIP OR CORPORATE SHAREHOLDERSExample: Professional services firm (CPA’s, lawyers,

consultants)

Senior Executive Management

LEAD GENERATION• Direct marketing• Client relations• Publications• Seminars• Conferences• Public relations

Marketing &Distribution

ProjectManagement

Research &Development

Recruiting &Training

LEAD QUALIFICATION• Research into industry• Research into prospect• Qualifications of staff• Availability of staff• Profit potential• Reward/risk balance

PREPAREAND

DELIVER PROPOSAL



Three-Part Process

• 1: Research to learn:• Prospective client requirements?

• Deadlines?

• Nature of business challenge?

• Who is competing for the business?

• Is the client ready to buy, or just fishing?

• 2: Planning -- outline the information blocks and the proposal itself

• 3: Writing -- customize the content



Writing and Presenting

• EMPATHY: Put yourself in your reader’s/listener’s position

• TRUTH: Where facts are needed, deliver them

• Anticipate and answer difficult questions

• Focus on results to be achieved, not the minutiae of how to get there (big picture versus lots of tiny snapshots)

• Follow the structure and format shown in the syllabus and sample proposals on web site

• Your prospect will eagerly accept your deal for goods or services if he or she perceives it to be worth the price



Eight Parts of Proposal

1. Background / Business Challenge: nature of prospect’s company and industry, brief history, current and future business challenges (do not present the background of your company here -- that comes later in Part 7)

2. Project Mission and Scope: precise statement of what will be done, how much will be done, and how results will match the prospect’s needs

3. Project Approach and Deliverables: breakdown of mission into broad actions to be carried out and the particular results for which your company will be responsible



Eight Parts (continued)

4. Project Workplan and Timeline: specific activities, meetings, communications flow, and individuals’ responsibilities (team members will usually be from both vendor and client) – must be presented in a Gantt chart for this assignment

5. Project Staffing: Who will manage the effort, from both client and vendor sides? Who will act as staff and in what capacity? (Include mini-resumes of all key players)



Eight Parts (concluded)

6. Project Budget: careful estimate of costs for labor, materials, and profits (will become part of legally binding contract if you win the proposal)

7. Proposer’s Qualifications: concise summary of your company’s achievements for clients, evidence of professional reputation, and anything else that shows that your firm is perfect for the project

8. Conclusion: the final pitch … ask for the business!



Feasibility or Recommendation Study?

• Many students who think a proposal would fit their interests for Assignment 4 are mistaken

• If you can’t write about how one company might sell something to another company, then consider a feasibility or recommendation report

• Read these two links to help you decide:• https://www.prismnet.com/~hcexres/textbook/fea

s.html

• http://en.wikipedia.org/wiki/Feasibility_study

• Think carefully about this before sending your Assignment 4 outline by Nov. 2, 2015


https://www.prismnet.com/~hcexres/textbook/feas.html

https://www.prismnet.com/~hcexres/textbook/feas.html

http://en.wikipedia.org/wiki/Feasibility_study


Business Plan Purpose• A business plan is typically created to secure funding for a

new venture or expansion of an existing venture

• Business plan has several components, all of which must pass the scrutiny of the prospective investors or lenders

• Unlike a proposal, a plan is not aimed at directly selling a product or service; instead it is trying to attract investors, partners, or lenders to share in entrepreneurial risk in exchange for a reward or return of some kind (such as equity, cash, future employment, or even prestige)

• CAUTION: a business plan is too big a challenge for Assignment 4 unless you have at least some knowledge of investment, marketing, management, risk assessment, accounting, economics, and business law (lacking said knowledge, you should write a report or proposal instead) – describe your knowledge in the outline due on Nov. 2 and back it up with reference to actual relevant experience

OPTION C: BUSINESS PLAN


Ten Business Plan ComponentsAdapted from: http://cpa.utk.edu/FAQs/prodev_q6.htm

1. Executive summary. The executive summary is a one-page summary of your business plan. The summary should briefly describe your enterprise idea and discuss the conclusions made in your financial strategy. This section comes first for the reader of your business plan, but it is normally prepared last by you the writer.

2. Mission statement. The mission statement reflects the core purpose of your business, stating your values in a focused sentence of fewer than fifty words

3. Business concept or idea. Your business idea comprises a one-page, concise, complete and persuasive statement describing the what, where, why and how of your enterprise. This section includes your:

• Enterprise idea• Product(s) and/or service(s)• Target audience/market• Enterprise’s “fit” with others in the market, both competitive and

complementary

4. Measurable goals, expected outcomes, objectives and action steps. This component of your business plan describes the goals of your enterprise as well as the outcomes you expect, objectives and steps you will take to reach your goals. Goals describe the long-term plans (three to five years) you want to achieve. Objectives are your short-term (one year or less) plans that identify how you will meet your goals. Goals are what is to be accomplished, and objectives are how it is to be accomplished.

5. Background information (industry research and market analysis). Background information relative to your enterprise is explained in this section. This section includes background on why you are choosing to develop a value-added enterprise and market analysis information. You may describe the need for your enterprise in your area and trends in the industry.


http://cpa.utk.edu/FAQs/prodev_q6.htm


Plan Components (continued)6. Management needs and management history. The management needs and management history section of the business plan explains how you will run your business and describes your management team, the legal structure of the enterprise, insurance needs and staffing needs. It also notes what regulatory agencies (local, state, federal, international) have authority over your plans and how you will address their requirements.

7. Marketing strategy. This section of the business plan describes the strategies you will use to market your enterprise. Marketing strategies should be developed for “the four P’s of marketing” -- product, price, place, and promotion. Start-up costs for the enterprise will need to be estimated.

8. Financial strategy. Your financial strategy is basic to making management decisions and obtaining financing. In this section, you will identify sources of existing debt and financing needs. You will also develop financial statements including a 1) profit-loss statement, 2) balance sheet, and 3) cash flow projection including sales projections. These statements will be summarized in this section of the business plan.

9. Exit strategy. An exit strategy specifies situations by which you plan to exit the business or situations which may necessitate the closing of the business. The exit strategy should also outline the method that will be used in exiting the business and the likely financial consequences of this decision.

10. Appendix. The appendix, located at the end of the business plan, contains supporting documents. Financial statements, customer support statements, and credit terms available should all be included. (To fit the length of Assignment 4, this can be merely a list of references to relevant documents; don’t include the docments themselves.)



Business Plan Advice & Format

• http://faculty.washington.edu/vandra/html/bpwriting.html

• http://www.todroberts.com/USF/ENC3250_BusinessPlanExample.pdf

• Do a general Google search for “business plan format” or “business plan sample,” but do not substitute idle web surfing for thinking and writing

• A business plan normally requires sophisticated knowledge of marketing, accounting, tax law, financial reporting, industry experience, and trade-off analysis

• For purposes of Assignment 4, you should focus on business concept, supporting arguments, clarity, and persuasiveness

• Assume that most readers are unfamiliar with (and unimpressed by) management fads and the latest industry jargon -- use plain English as much as possible


http://faculty.washington.edu/vandra/html/bpwriting.html

http://www.todroberts.com/USF/ENC3250_BusinessPlanExample.pdf

http://www.todroberts.com/USF/ENC3250_BusinessPlanExample.pdf

Documents

ENC 3250, Professional Writing University of South Florida, Sarasota/Manatee Fall 2015 Week 10 Length of this lecture audio (14 slides): 00:35:33 Jot