Joint Ventures – Developing A Mutually Beneficial Joint Venture Proposal
Successful joint ventures begin by developing a mutually beneficial joint venture proposal, that all parties are in accordance with.
Entering a joint venture partnership with a website that complements yours, will allow you to market your products or services on your partner’s website, and increase your exposure and profits for both partners.
You can also invite your partner to market their product or services on your website, to boost their profits and exposure.
Joint venture partnerships allow both partners to leverage their existing website resources, and in order to achieve a satisfactory outcome, developing a mutually beneficial joint venture proposal is absolutely essential.
When you have formulated your goals, it’s time to search for the ideal candidate that you would like to be associated with in your joint venture.
Your target partner should have a well known website, that is both reputable and credible.
Try to determine if your potential partner might be interested in a joint venture, by reading their mission statement to see how they make their decisions.
After you have compiled your short list, narrowed it down, and made your final decision; it’s time to approach your joint venture partnership prospect with your proposal.
Here are some pointers for developing a mutually beneficial joint venture proposal.
- Make your proposal brief, direct, and to the point. A long winded proposal that is loaded up with technical legalese, will understandably be ignored by your target prospect.
- The primary focus of your proposal, should be on explaining the benefits your potential partner will receive, from entering into your proposed joint venture agreement.
Remember that whether your potential partner is an ezine publisher, webmaster, business owner, or a competitor; they will need the same questions answered about your proposal, as you would, should the shoe be on the other foot.
What can I get out of it? How will it benefit me? What are my earnings potential? Who makes the decisions?
All these questions are important to both parties and should be included when developing a mutually beneficial joint venture proposal.
- Your offer must be relevant, specific, and assure your prospect that they will benefit from the joint venture. Remember that money may not always be the determining factor in the final decision.
- Make sure your joint venture proposal captures the interest of your potential partner. Developing a mutually beneficial joint venture proposal should be made so tempting, that no one would turn it down.
- Keep it simple, and make it direct. Busy people don’t have time to read complicated, long winded proposals.
- If you have more than one proposal going out, each potential partner should receive a totally different proposal, based on the independent research you performed, to determine what is important to each.
Make it easy for each one of them to reach an affirmative decision towards your proposed joint venture.
- Write your proposal in a personal manner. Let your potential partners know that you are not a machine sending out duplicate proposals, fishing for a partner.
Get personal, try to build a rapport with them and let them know they are dealing with a human.
- Finally, send your finished joint venture proposal by snail mail, or preferably FedEx.
Don’t send it by email unless there is no other way to contact your prospect. Emails can be too easily ignored, flagged as spam, or accidentally erased and forgotten.
Add a note of urgency to your proposal, and let joint venture prospects know that you need to hear from them within a reasonable time period. You can do this without appearing overbearing or arrogant.
Using these pointers for developing a mutually beneficial joint venture proposal, will make your job easier, and the end result, more successful.
