Joint Venture Proposal Dos And Don’ts

How important is a joint venture proposal? It's probably more important than you think it is- in fact, many wonderful joint venture ideas never see the light of day, just because the proposal is badly executed. In other words, your proposal can either make or break your joint venture deal.

Proposal Don'ts

Let's begin by looking into what not to do when writing a joint venture proposal. First of all, don't give a thousand page story on your life. A number of people lose out on their proposal because they spend too much time talking about things that just aren't important. If your potential partner loses interest in your sales letter, then you can bet that they've lost interest in doing business with you too. Don't be vague either- if you're not clear about what you plan on putting forth and achieving, then it tells the other person that you're not really serious about the venture.

Another important part of writing a good joint venture proposal is professionalism. You might have a killer product or a great collaborative idea- but if you start off your proposal with 'Hey you, listen up I got this great idea', you can be sure that proposal will be in the garbage pretty soon. Remember that your proposal is what people are going to base their impressions on. If it is a clean letter that is to the point and completely professional in tone, you can be sure that the person will be interested in what you have to say.

Proposal Dos

Make yourself an outline of what you would like your joint venture proposal to say. Be clear about what you want to accomplish and how this venture can benefit both parties. Write your proposal so that it's to the point- avoid using big paragraphs and complicated jargon. It's also crucial to make sure that you offer something the other party needs- if you have a great idea but it doesn't suit their needs, then you're going to lose out.

Remember to use a personal approach in your joint venture proposal. This shows the person that you've taken extra time and care with your proposal. People always respond better when they are addressed personally, rather than with a formulaic template. Give an estimated figure with regard to project earnings. Make sure that you base it on real data like marketing stats and conversion rates.

It's also a good plan to add a touch of urgency to your proposal. If there's no deadline or time limit to the offer, people tend to put it off and even forget about it. Even if they decide to pass, maintain a rapport with them- maybe you'll be able to start a joint venture with them sometime in future. A good joint venture proposal is the key to a successful business strategy.

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