Joint ventures are a partnership undertaken between two or more businesses for mutual gain.
To have a joint venture partner you have to seek out website businesses that is related to the products or services you are selling. After you found one, the hard part comes next. How do you convince them to have a joint venture?
You first have to write proposals. Joint venture proposals are a formal way of saying to your partner « Let’s make a deal and be partners. »
Joint venture proposals are far more successful in obtaining partners if they are brief, and to the point proposals. Remember that you are dealing with people that are same as you are. A ten-page proposal will simply not cut-it. It can become boring for the reader to read all the corporate jargon that is isn’t easy to understand, therefore, rejecting your proposal.
The first thing you have to remember to write in your proposal is the most common question of a potential partner. Whether they are an article publisher, a competing business owner or even if they are the CEO of some huge corporation, they will usually ask in different ways « What’s in it for me? »
They will often ask and wonder how your proposed joint venture will benefit them or their company.
Remember that people likes to take advantage, so explaining to them the benefits for their company a joint venture can give is very important to approve their partnership.
Explain each benefit in detail and also in simple terms to get their attention.
It is very important that the benefit you offer them is accurate and also highly beneficial to their clients. Explain to them that it is very lucrative for your partners to have joint ventures. If you’re an experienced negotiator, you’ll know that giving them what they want to hear is best.
And also keep in mind that it is always not about the money.
Now that you have an idea on how to write a proposal, now it’s time on how to write you proposal so that it gets the attention of your potential partner and not turn you down.
Research about your potential partner; determine what their specific need for their business. Look at their websites and look for their company mission or goal. This will reveal what your potential partner wants in a joint venture. Make an offer they cannot refuse. The key again here is research. Try to find out what they want.
Also, make it seem like they get more profit that you will. You will have to make it look like they have all the advantages and you are only asking for a few reasonable things. This will work for you in the long run, if your partner have many clients, it is possible that some of them may buy from your website and also you get free targeted internet traffic.
Make the proposal as easy to read as possible. Getting that illusive « yes » can be very easy if you keep your proposal brief and to the point. Include in your proposals their benefits. This is because many people are naturally lazy readers; they do not want to read technical terms that may seem so complicated and hard to understand. Tell them in your proposal formally that they are sitting on a gold mine.
Make your proposals personal.
Relate to your potential partner as much as possible and avoid impersonal proposals. Impersonal proposals will only get a one second look from a potential partner and throws it away. Try to relate to your potential partners by giving them the same goals or missions as their company that you would like to achieve. If you really want to make an impression, send the proposal by hard copy through « snail mail ».
It can look very professional and attractive.
Build a relationship with your potential partner. Most businesses will only do business with you if they know you well enough to trust you. Try to relate to your potential partners through your proposal.
In your proposal, add a sense of urgency, it’s no use that you will have to wait a long time just to hear them say no. However, write it in a discreet way, do not point out to them that you are in a hurry. It could lead them to think that you are overbearing, deceptive and unrealistic.