Now that you've done your research, finalized your content and gotten approval on some sketches you can move on to the actual design phases of the graphic design process. While you may knock out the final design in one shot, it's usually a good idea to present your client with at least two versions of a design. You can agree on how many unique versions are included in a job in your proposal. This gives the client some options and allows you to combine their favorite elements from each.
TIP: Be sure to keep even the versions or ideas that you choose NOT to present and that you might not even like at the time, as you never know when they'll come in handy.