Proposing a Joint Venture Offer that Cannot Be Refused

Proposing a Joint Venture Offer that Cannot Be Refused
Joint ventures are an excellent strategy for increasing
your market reach and overall revenues. However, the
question is, how can you entice a prospective partner to
join you in a lucrative joint venture? Not everyone can
see the big picture quite as vividly as you can ' and
therefore, it is important to employ strategies to make
sure you both are on the same page of excitement.

Increasing the value of the partnership

There is only one bottom line to attracting a joint venture
partner: provide significant benefits. Of course, this is
easier said than done, and therefore, there are several
strategies you can take to enhance the lure of your joint
venture proposal.

- Craft your proposal with only the partner's perspective
in mind. You already know what the joint venture will
bring to your benefit, so there is no need to re-hash this
information in your offer. Instead, your proposal should
truly focus on how your potential partner can benefit
significantly from this joint venture.

- Clearly outline all of the benefits. What seems obvious
to you may not be apparent to your potential partner.
Being too clear is never a flaw, but vagueness is always a
fallacy. Make sure that you specifically highlight all of
the benefits to your potential partner, whether tangible or
intangible. Of course, the partner will gain additional
sales and revenues, but what about the intangibles, such as
increased branding, new market segments, and free exposure
to a target audience? The revenue benefits may not be seen
immediately, but certainly offer long-term benefits.

- Make your offer standout from the competitors. Chances
are that if you are approaching a potentially lucrative
partner for joint venture purposes, then other companies
are doing the same thing too. Making your joint venture
enticing means standing out from the crowd. If you are
willing to provide your potential partner with a higher
commission than the industry standard, then make sure to
mention that first. This will attract their attention,
motivating them to read through your entire proposal and
absorb the benefits.

- Be exclusive. If you have joint ventures with anyone and
everyone, then the most lucrative potential partners will
not be enticed. Why would they want to joint venture with
you when your partnerships are already saturated? Make
sure that your joint venture proposal feels exclusive, and
you can discuss the reasons why this proposal is unlike the
others already out on the table.

- Demonstrate your understanding of both lists. When you
show your potential partner that you have a full
understanding of both your customer bases, this
demonstrates that you fully understanding the prospects of
the joint venture. Point out both why and how your
customer list benefits the joint venture's endeavours. The
more specific you can get, the more enticing the offer is.

Joint ventures go above and beyond the standard affiliate
marketing. Typically, joint ventures can offer significant
rewards for both parties that supersede the affiliate
relationship. Subsequently, the work you put into enticing
your ideal partner will be worth the payoff in the end.

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Christian Fea is CEO of Synertegic, Inc. A Strategic
Collaboration Marketing consulting firm. He empowers
business owners to discover and implement Integration,
Alliance, and Joint Venture marketing tactics to solve
specific business challenges. He demonstrates how to create
your own Collaboration Marketing Strategy to increase your
sales, conversation rates, and repeat business.
Contact: christian@christianfea.com
http://www.christianfea.com