From business proposal to getting paid: the Enty way
In the world of business, effective communication and clear agreements are paramount. Whether you are a service provider or a client, having a solid understanding of business proposals and service agreements is essential for a successful working relationship. In this guide, we will provide you with all the information you need to know about drafting both documents with Enty. Why? Both of these documents hold the secret key to timely payments, helping clients to build trust in your company. Time to dive in!
Chapter 1: business proposals
A business proposal is a document that outlines a solution to a client's problem or need and presents the benefits and value of working with a particular service provider. It serves as a persuasive tool to convince the client that the proposed solution is the best fit for their requirements. A well-crafted business proposal demonstrates the service provider's expertise, showcases their unique selling points, and establishes trust and credibility with the client.
Components of a business proposal
A business proposal typically consists of several key components that collectively present a comprehensive and compelling case to the client. These components include:
Executive summary: summarize the proposal's key points, including the client's problem, the proposed solution, and the benefits of working with the service provider.
Introduction: provide an overview of the service provider, including their background, expertise, and relevant experience.
Client's problem: clearly articulate the client's pain points and challenges to demonstrate a deep understanding of their needs.
Proposed solution: present a detailed plan of action that outlines how the service provider intends to address the client's problem and achieve the desired outcomes.
Benefits and value: highlight the unique value proposition of the proposed solution and explain how it will benefit the client's business.
Timeline and deliverables: outline the project timeline, including key milestones and deliverables, to set clear expectations for both parties.
Pricing and payment terms: provide a transparent breakdown of the pricing structure and payment terms, ensuring that the client understands the investment required.
Credentials and testimonials: showcase the service provider's credentials, relevant experience, and testimonials from satisfied clients to build credibility and trust.
By including these components in a business proposal, service providers can effectively communicate their expertise, address the client's needs, and position themselves as the best choice for the job.
Crafting the proposal
Once you have conducted thorough research and gathered all the necessary information about your project, it's time to craft the business proposal. This step involves structuring the proposal, writing persuasive content, and designing a visually appealing document.
All this might sound complicated, but fear not - with Enty, you can easily create a business proposal by selecting the appropriate template and customizing it to fit your specific needs. Enty offers a wide range of templates that cover various industries and types of services. The proposal can be created in a few clicks, and won’t take you long to do. Let’s see how to do this step-by-step:
1) Navigate to Enty Contracts service and choose business proposal option from the list of options available
2) Now, you will need to fill out a few pieces of information about your company. The company name will be updated automatically, and all that will be left to do is to create a counterparty (or choose from the list of already available ones), as well as add a company representative.
3) Click Proceed to move to business proposal generation process
4) In the next steps, you will need to fill in a few details about your company. Examples of what information you will need are below.
*Please note, not all information is shown here. There will also be a few steps to include information about pricing, clients and goals - this should be filled in based on the amount of data your business has.
5) After we filled in all the details - it’s time to generate the proposal. As you can see, the end result has all key elements of a business proposal, as well as shows a clear structure which you don’t have to worry about now.
You can easily share or download the document if you need to. Alternatively, you can go a few steps further by esigning or issuing an invoice based on the proposal.
After the document has been signed with a wide variety of esignature methods tailored for each country - it might be a good idea to send it to a counterparty for review. The necessary button will appear after the signature process is complete.
Now, all that is left to do is wait for the counterparty to approve the business proposal and voila - you are ready to start trading, and even generating invoices.
Chapter 2: service agreements
However, usually a business needs more than a business proposal to operate successfully. An important part of the process of exchange of goods and services and being paid for them is a service agreement - a legally binding contract between a service provider and a client. It defines the scope of work, the responsibilities of each party, payment terms, and any other relevant terms and conditions. Service agreements can be used for both one-time projects and ongoing services. They provide a framework for the relationship, protect the rights of both parties, and establish a clear understanding of expectations.
Key elements of a service agreement
When creating a service agreement, there are several key elements that should be included to ensure clarity and avoid misunderstandings. These elements include:
Identification of the parties: clearly state the names and contact information of both the service provider and the client.
Scope of work: define the specific services to be provided, including any deliverables, milestones, or deadlines.
Payment terms: outline the agreed-upon payment structure, including rates, billing cycles, and any additional fees or expenses.
Terms and termination: specify the duration of the agreement and the conditions under which either party can terminate the contract.
Intellectual property: address ownership and usage rights for any intellectual property created or used during the course of the project.
Confidentiality: include provisions to protect the confidentiality of sensitive information shared between the parties.
Indemnification: define the responsibilities and liabilities of each party in the event of a breach or dispute.
Dispute resolution: specify the methods and procedures for resolving any disputes that may arise during the term of the agreement.
By including these elements in a service agreement, both parties can have a clear understanding of their rights and obligations, minimizing the risk of misunderstandings or conflicts.
As you might guess correctly, creating a services agreement requires a thorough approach to negotiating the service terms before issuing the formal agreement. This step involves discussing any modifications or adjustments, addressing any concerns or questions, and reaching a mutually beneficial agreement.
Service agreement negotiation
Consider the following tips for negotiating and finalizing the agreement:
Active listening and collaboration
During the negotiation process, actively listen to the client's feedback, concerns, and suggestions. Collaborate with the client to find common ground and develop a solution that meets both parties' needs. Approach the negotiation with a spirit of compromise and flexibility.
Addressing concerns and questions
Be open to addressing any concerns or questions the client may have regarding the proposal or the service agreement. Provide clear and detailed explanations to alleviate any doubts and ensure that the client feels confident in proceeding with the agreement.
Documenting changes
As the negotiation progresses, document any agreed-upon changes or modifications to the proposal. This ensures that both parties have a clear understanding of any adjustments made and helps avoid misunderstandings or disputes in the future.
Reviewing legal considerations
Before finalizing the agreement, review the legal considerations, such as liability, intellectual property, termination, and dispute resolution. Ensure that the agreement adequately addresses these considerations and protects the rights and interests of both parties.
By approaching the negotiation process with a collaborative mindset and addressing any concerns or questions, you can establish a mutually beneficial agreement that sets the stage for a successful working relationship.
Creating and securing the service agreement with Enty
Once the negotiation process is complete and both parties are satisfied with the terms, it's time to generate and sign the service agreement. This is where Enty comes into play as a convenient platform for simplifying the process of creating, signing, and managing service agreements. Let’s see how to approach them with ease in a few steps.
1) Head to an already familiar to us Contracts page. This time, we need to select the Service Agreement template.
2) After selecting the Service Agreement template, you will be presented with three options - choose the one that works for you (the exact process will vary based on the option you select)
3) Similar to Business Proposal, you will need to input basic information about the company and the service you’re providing. This won’t take you long, and will almost instantly be transferred to the next page.
4) This is where the magic happens. All you have to do is type in a few details about the service you’re providing: start date, end date, due dates etc.
5) Below, you will see a few examples of info you need to provide, but take your time to carefully go through the entire process - this is what you’re getting paid for! No need to rush.
6) Now you’re minutes away from creating a service agreement. After all the information is filled in, insert the sequential number and press submit…
…. Voila! You can now reap the benefits and enjoy a perfectly, professionally crafted service agreement.
As with all other documents, feel free to share and download them, or even benefit from esigning and issuing invoices. In order to do so, simply press Preview invoice and if youré satisfied - issue it.
Tadaam! You’re one step away from getting paid. Finish the process by issuing the invoice and enjoy the money flowing into your accounts (by the way, this can also be easily tracked with Enty).
You can also mark invoices as paid, track their status and even send reminders. And of course, don’t forget to add payment links to make the process of payment even easier for your customers.
Last thoughts
When dealing with business operations, clear communication and well-structured agreements are essential for building successful partnerships. By following the step-by-step process outlined in this guide, from crafting a persuasive business proposal to securing a service agreement and receiving timely payments through Enty, you can establish a solid foundation for your business relationships. With help of our business proposal and service agreement templates, you can simplify the process of creating and managing these documents, as well as making payments for them more straightforward and pleasant for clients.
Take the next step, put your knowledge into action, and start getting paid today!
