The Importance of Managing Proposals When Starting Up

The Importance of Managing Proposals When Starting Up

In order for your business to have lasting success, you need to be able to generate business proposals for each investor. Having many opportunities available is the best way that you can get results. In order for you to get results with potential investors however, you’re going to need to follow up. When you’ve submitted tens or even hundreds of proposals, it can grow quite difficult to manage each one of them. Here are some of the top reasons why you should always be tracking and following up investor proposals:

It shows you are assertive:

A backer needs to know that you are going to get them a return on investment. When you show that you believe in your idea and that you really believe in its potential, it shows that you are truly ready to fight for your company. Contacting a potential investor doesn’t come across as a desperate plea, it just shows that you care about having them as an investor and the future of your company.

Your competition is doing it already:

When capital becomes available for investment, it’s usually going to go to the opportunity that comes to an investor first. The first company to respond and complete a follow-up is more likely to end up as a partner in business. 35 to 50% of investment funds often go to the first vendor that shows up. If you’re crafting a quality business proposal, it comes down to showing up to an opportunity first and then being the first to follow up.

There is technology to help:

You can find plenty of advice online for creating well-written proposals and for initiating the proper follow-up. You can also access tools that will help you to send out dozens of proposals that once and manage responses through an e-mail client of your choice. Integrating tracking features can also make sure that you can tell when somebody has open your proposal and spent time reviewing it.

Exposure helps:

In marketing, the average consumer needs to be exposed to a brand or product at least seven times before they will invest in it. It takes time to build trust and this means properly marketing your proposal to potential investors.

Submitting proposals is just one step in the process of gaining funding. Make sure you are able to properly follow up and market your ideas to see more success with your proposals.

This post was written by Tara Kintz. Tara is a director at Signature Workspace which is a  Clearwater Coworking Space. Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private offices, flex space, co-working space, virtual offices, meeting/conference rooms, and more.

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