A business proposal is an important tool used by professionals to offer specific goods or services to a potential client. It outlines the scope of the proposed project, the deliverables that will be provided and establishes the price for such goods and services. A well-crafted business proposal should include three main components: description of the goods or services, costs and timeline. By providing potential clients with this information, they are able to make informed decisions about services and goods that can help their businesses succeed. Writing a comprehensive business proposal can also provide an advantage in competitive bidding situations.