.Consulting for Profit & Success How to Develop a Competitive Financial ProposalBy Silvester Hwenha pptx

[...]... electronically, the financial proposal is attached separately When hard copies are required the financial proposal is packaged in a separate envelop and clearly labelled The reason for packaging the technical and financial proposals separately is that they are evaluated separately The technical proposal is evaluated first The financial proposal will only be evaluated if the technical proposal reaches or surpasses... taxation, so make sure you know how to handle this and and other contingencies to remain profitable; • Invest in developing financial management systems They are very important when you go for large and more profitable assignments; and • Negotiate a payment schedule that allows for a down payment with your client This will help you to conduct the assignment without the financial strain of pre-financing... Key Takeaways • The financial proposal entails costing the technical proposal and consists of budgets for professional fees and operational costs, and a narrative of your financial management systems; • Charge your professional fees based on your experience and industry standards Fees that are too high will price you out of business while fees that are too low will bankrupt you; • When you engage associate... projects Silvester Hwenha is an independent Development Consultant with over 10 years of experience consulting in the non -profit sector in Southern and East Africa Silvester has been a Senior Consultant with reputable consulting firms in Zimbabwe and has been engaged with non -profit organizations based in the USA Silvester is a Zimbabwean national now living in Pretoria, South Africa Connect to Silvester. ..must be calculated to cover project expenses including fieldwork up to the submission of the first major deliverable Without a down payment, most consultants and emerging firms fail to take up and implement projects because of lack of adequate financial resources to pre-finance projects However, most clients are reluctant to agree to a down payment and often prefer to make payments against major project... associate consultants strike a balance between paying out competitive rates and ensuring a profitable retention; • Project operational costs are direct and reimbursable costs and therefore must be charged at cost price Ensure that you have receipts and invoices to facilitate reimbursement by the client Also make sure that the client approves all costs before they are incurred; • Your budget is liable to. .. deliverables This then requires the consultant to pre-finance the project In order to avoid the financial strain imposed by the need to pre-finance projects, you should routinely save a fixed portion of your fees to build your financial reserves Submission of the Financial Proposal The financial proposal in packaged separately from the technical proposal Where the proposal is submitted electronically,... been engaged with non -profit organizations based in the USA Silvester is a Zimbabwean national now living in Pretoria, South Africa Connect to Silvester Smashwords author page: http://www.smashwords.com/profile/view/shwenha2011 Email: mailto :hwenha@ yahoo.com . proposal is attached separately. When hard copies are required the financial proposal is packaged in a separate envelop and clearly labelled. The reason for packaging the technical and financial. client for each associate consultant, the actual rate to be paid out to the associate consultant and what you retain as profit (see table below). This table shows that at the stipulated rates. Key Takeaways • The financial proposal entails costing the technical proposal and consists of budgets for professional fees and operational costs, and a narrative of your financial management