Verbal proposals are arguably the most effective tool of securing business deals. It is undoubtedly the oldest form in existence. However, there are complex deals that will definitely make oral proposals look inadequate. But what you should realize about this is that, some of the most complex deals started with a simple verbal exchange that was sealed with a handshake.
Any person that wants to reap the rewards of oral proposals has to know how it works in business and how to use it to attain stated goals. The benefits of oral proposals include:
It Works To The Strength Of Those Who Have Great Communication Skills
There are people that have great interpersonal skills. Oral proposals seems customized for this ability. Being able to effectively communicate with the next person in such a related manner has been known to open doors. This also applies when it comes to oral proposals. People with good communication skills, can find it very easy to sell whatever they have in mind to the next person. Such a person can present his proposal in such a convincing manner that, the least the other person can do is to ask them to submit a written proposal.
Having great social skills like the ability to communicate and connect with the next person, is a marketing tool that is of great value to businesses.
You Can Clinch A Deal Before Drawing Up A Formal Proposal
There are lots of deals that have been clinched in this manner. You first sell your idea verbally and conclude on it with a handshake. Then the formal process begins. This is a great way to start a written proposal i.e. knowing that you have already clinched the deal. You won't have to write your proposal without knowing how your prospect will react. But you will be able to focus on what you already know and use the basis of your oral proposal as a guide for the written proposal.
Like we mentioned earlier, there are complex deals that need the involvement of a team to draw up the proposal. Regardless of the fact that such a proposal had first been agreed upon verbally. The business savvy will do well to look at how he or she can use these tool to cut the cost of setting up deals.
It Makes Written Proposals To Become A Mere Formality
When verbal proposals have been accepted, it makes the written proposal to become a formality. Companies need to keep records and the written proposal will serve the purpose of proper documentation. At this point, there may not need to be a defense of the written proposal as such. But the only reason they might go through it would be to make sure every aspect of the deal would reflect in the proposal.
You Beat The Process Of Competition
There are some requests for proposal submissions on the part of the company that is looking for a service to be rendered that are mere formalities. This is because, the person for the job has already been selected. Based on what some might call an informal oral proposal. In fact, the whole process might have been organized for the benefit of the person that made the oral proposal.
This could happen in instances where strict regulatory procedures has to be adhered to and creating such a process is part of the procedure. Your oral proposal can sidestep the issue of having to compete with others.
Oral Proposals Give You An Audience With The Right People
These are people whose decision matters in the scheme of things. You may not have a direct access to them. But, if there is someone that can serve as a bridge between you and the decision makers and they buy your idea, you will gain access to make your oral proposal to the right person. Once the final decision is in your favor, you just know that the job is yours.
On the other hand, written proposals does not drop on the right desk most times. But goes through a chain of command, from the bottom to the top. It may never get to the right desk because of one failing or the other. Remember that the company may have other people’s proposals as well, going through the same channel and if it has to do with a given project, yours may not meet up to others.
While written proposal tends to go from the bottom and starts to climb its way up, oral proposal can either come from a side door and connect you directly to the top or it can come to the top directly, who will in turn hand it down to those below to make sure it works. This is the best position anyone interested in doing business with that company would want to be.
Oral proposals can be extremely beneficial to those who have the opportunity to use it. It is something that anyone that is interested in having a success in their business should endeavor to develop. So that they can take full advantage of it whenever it presents itself.
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