Business Contracts and Sales Proposals (with Templates)

Research: Risk and Benefits of Contracts

According to IACCM almost 9% of all contracts result in a dispute!

Some industries, like Engineering and Construction, have as much as 21% of their contracts experience some form of legal problem.

With all that to lose, why would anyone do business without a proposal (or contract)?

Most of the reasons fall under one of these categories:

  • Fear of scaring away clients
  • Don't want to seem too formal
  • Fear of signaling mistrust of the other party
  • Fear of signaling mistrust of the other party
  • Don't want to complicate business dealings

The reality is that, if you're strategic about it, you can easily avoid all of these potential downsides.

The first step is ensuring you have the right contract (more on this later).

Next, you'll want to ensure you follow some best practices around contracts and sales proposals.

Luckily, we have some great data-driven insights that can help you.

With Docsketch customers earning over $2 Billion in sales, we have access to lots of interesting data around sales proposals and contracts.

Our research of 25,000 proposals (and sales contracts) worth $270M revealed the following takeaways:

  • Sales proposals have a higher win rate (43%) than invoice style estimates (35%)
  • Proposals with 5 pages or less are 31% more likely to win
  • Making contracts and proposals viewable online increases win rates by 18% and turnaround time by 40%
  • Winning contracts and proposals are sent 26% sooner
  • Bundling fees into a single line item (instead of itemizing) increases win rates by 36%
  • Adding one or two price options increases revenue by 32%

This leads us to the need for using effective templates...

Over the next few weeks we're putting together the ultimate list of business contract templates. Not just any templates, but ones that use all of the learnings from the data above.