Entering into a joint venture either with a competitor or a non-competitor will benefit both the businesses mutually. It lets both the partners to control the existing resources involved in the association. Signing a deal for a joint venture begins with one of the companies sending a proposal to the other for the same. Hence, this proposal is the first impression for the other partner to decide if they have to go ahead with the affiliation and hence it is important that the proposal should be appealing. So, here ‘show you can write an irresistible partnership proposal for your joint venture.
Create a Concise Proposal
A proposal for a joint venture is just a request sent to the potential partner to enter into partnership. Most of the time, the venture turns out to be successful through short concise proposals than stereotypical 10-page documents filled with company jargons.
Focus on How the Partnership will be Beneficial to Them
Before you start drafting a proposal, there’s one important aspect that you have to keep in mind. Irrespective of who your potential associate may be, there’ll be just one question in their mind when they get to read the proposal – and that is what the real benefit you can offer to them through the partnership. To be more specific, they will be wondering how this venture will prove to be beneficial to their company. Thus, if you present this aspect very clearly in your proposal, you are sure to hit the jackpot with every proposal for a joint venture with various companies. The overall idea is to make the offer irresistible to the other party by proposing something of great value to them.
Give Them What They Want
Before penning down, explore your potential associate and the company to find what they would be looking out for. You can research this by going through their website, knowing their mission, talking to them, and finding how they make decisions.
Make such an offer that they just can’t let it go and this will again need an in-depth research work. In simple terms, make the proposal enticing and very easy to understand so that the other party becomes really tempted to say ‘yes’ to the deal.
Try to Take Up Most of the Complex Tasks in Your Hands
If it is very much complex, few people might just not feel like going ahead with the deal, owing to the work involved and the extra efforts they’ll have to put in, in which case they may not even be bothered about the benefits that they can reap. Simplify your request and if needed take over most of the workload.
Highlight the Monetary Benefits
Be clear when it comes to the potential earnings part. Explain to them logically as to how much they could earn from the association. Your prediction should not be just a guess, but rather based on your sales conversion rates, present marketing stats, and other real world data. This is the most crucial, but often overlooked part of any joint venture proposal.
Above all, build a good rapport with the other party even before sending the proposal. Understand that anyone would like to work with someone they know and trust rather than working with a stranger.
Now that you know how to go about it, begin drafting your proposal and look out for successful and profitable joint ventures! With your own marketing and business strategies and the right words, you can reap the best profits with a powerful partnership with a large firm, and take your business to the next level!
Carla H. Smith loves reading works written by Eric Schiffer. She likes to browse various reading materials regarding learning. One of her more famous reading materials involves discussing various topics that tried to tackle emotionally charged learning, Aside from this she has also penned a variety of work that also tackle the same topic written by her favorite author.