Proposals

A proposal is a detailed document to convince prospective clients to choose a particular service or product. It outlines the specific problem or need of the client. It provides a comprehensive solution, including how the work will be carried out, the timeline, terms and conditions, and often a cost estimate. Here's what a proposal generally includes:

Introduction:
Overview of the problem, need, or goal.

Objective:

Detailed explanation of the proposed solution.

Scope of Work:

Breakdown of tasks, methods, deliverables, and timeline.

Pricing:

A comprehensive cost structure that can include a detailed estimate or fixed price.

Terms and Conditions:

Legal and procedural details.

Credentials:
Information about the company, past work, testimonials, etc.

Call to Action:

Steps for the client to proceed, like a signature.

Proposals are often customized to the client's specific needs and are used to secure a contract or project.

Estimates

An estimate is a simpler document that gives prospective clients a general idea of the costs of a project or service. Unlike a detailed proposal, an estimate might not include a full breakdown of how the job will be done. Here's what an estimate generally includes:

Description of Service or Product:
A brief overview of what's offered.

Breakdown of Costs:

This may include labor, materials, and other associated costs.

Total Cost:
A summarized total price.

Terms and Conditions:

Including validity of the estimate, exclusions, etc.

Optional Details:
Such as timeline, brief method description, etc.

Estimates are often used in the early stages of discussions with a client, providing a ballpark figure that helps them gauge whether to proceed.

Comparison Between Proposals and Estimates

Depth:

Proposals are more detailed and tailored, whereas estimates are generally shorter and more generic.

Purpose:

Proposals are used to win a contract, while estimates give an initial idea of the cost.

Content:

Proposals include thorough project details, while estimates focus on cost.

Legal Standing:

Proposals can be legally binding once accepted, while estimates are usually not.

How to create a proposal or an estimate?

Navigate under Sales ➝ Proposals & Payments ➝ Click Proposals. Click on New> Choose between creating a Proposal or an Estimate.

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