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The key points of the text are the importance of creating a great proposal starting with the cover letter, which acts as the initial hook to entice clients to read further. It is emphasized that the cover letter is crucial in encouraging clients to engage with the proposal, as it can make a significant difference in closing rates. The cover letter should demonstrate an understanding of the client's problem and requirements in order to capture their attention and differentiate from other proposals. This initial step is essential in maximizing the chances of a successful outcome.