Joint Ventures: How to Write an Irresistible Proposal
A joint venture is 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 are related to the products or services that you are selling. Finding one is the easy part, 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. Remember that you are dealing with people that are the 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 is not easy to understand, and subsequently, they will reject 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 a CEO of some huge corporation, they will usually ask in various ways, “What’s in it for me?” They will often ask and wonder how your proposed joint venture will benefit them and their company. Remember that people like to sieze advantage, so explaining to them the benefits for them and their company a joint venture can give is very important in gaining their partnership. Explain each benefit in detail, yet still in simple terms, to get their attention. It is very important that the benefits you offer them are accurate and also highly beneficial to their clients. Explain to them that it is very lucrative for your potential partners to have joint ventures. If you are an experienced negotiator, you will know that giving them what they want to hear is best. And also keep in mind that it is not always about the money.
Now that you have an idea on how to write a proposal, it is the time on how to write you proposal so that it gets the attention of your potential partner and does not turned down. Research about your potential partner; determine what their specifics needs are 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 appear like they will get more profit out of it than you will. You will have to make it look like they gain all the advantages while you are only asking for a few reasonable things. This will help you in the long run, for instance; if your partner has many clients, it is possible that some of them may buy from your website, and that you may also 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. Remember, always 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 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 one look from a potential partner before it is thrown 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 more attractive this way.
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, there is no use having to wait a long time just for them to 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.
Why Engage in Website Joint Ventures?
As civilization enters the Age of Globalization, joint ventures are growing into the thousands—no, make that millions. For the past decades the growth of the number of members who engage in joint ventures has continually increased.
Business before was very different than business is now. With the use of the modern technology (such as the computer) you can earn money, or even start your own business at home.
What really makes joint ventures so appealing to the people in the Web World?
Primarily, joint ventures can make unutilized resources into a more profitable source more quickly as well as at a lower cost than doing so alone. From the name itself, it needs collaboration with other concerned companies who are interested in increasing profits in internet marketing.
A joint venture simply refers to a method of business expansion in terms of websites. This is done through a collaborative effort for both major and mid-size website companies. Authors of particular websites partner with one another, which can help promote the name of their sites’ and attract more clients and subscribers.
Commonly, joint venture partners are matched by the so-called “closed proposal process”. This is initiated via the Internet. In fact, all of the transactions that concern their increased profits are transmitted through the Internet. They merely send their message in an e-mail.
Simply put, in a joint venture two or more groupings of web companies enter into an agreement that they will share all of their resources surrounding their business. It can consist of capital, technology, risks, and even rewards. All of these variables will then be managed as a single entity under the same dominion. In other words, the concern of one site is the concern of the other sites.
Prior to entry in a website joint ventures; there are important considerations that must be taken into account first. These include the following:
- Deliberation on the Prospective Partners—The success of joint ventures will depend on you and your partner. Getting a partner that will eventually ruin the entire entity can lead to bankruptcy. It is very important that you conduct the necessary screening first to better assess if they will be a credible partner or not. Particularly in the web world, you must be able to determine who the credible website authors are. Subscribers tend to refer more on the well-known authors.
- Major contribution in the website is a major factor—Websites are an avenue where you can advertise or publish a product. The entire package or design of the site is to attract clients. You have to look for a partner that can contribute in enhancing of your individual websites.
- Verify the credentials—One way for you to determine a good partner is to review their projects undertaken in past years. Accomplishments and awards will also help determine if the website has been in demand by subscribers in past years. You can also interpret their credentials via the ratings that the site has had in the past few months or even years.
- Develop a particular concept that will fit the principle of both websites—Be able to determine the concept that you want for your website, and also focus on the target market that you want to patronize your website.
- Specification about the allocation of gains and losses—Once you have identified your partners in website joint ventures, things that deal on monetary aspect must be discussed between you and your partner. There must be an equal sharing of the gain, if not it will depend on your agreement.
- Compensation must be thoroughly tackled—This will serve as a means to encourage participation with your partner. For every participation, it should be equated with just compensation. For instance, your product was also posted in the website of your partner and the client happened to order on his site, it only means that you are required to give the said website a commission.
Joint ventures will assure you easy money, however, it should be taken into account that there must be a collaborative effort between you and your partner. Whatever means that you may have, your website partner should have also.
Now you know why it is that these buisnesses crave for website joint ventures.