A bad partnership may result in bad business. Despite the advantages of a partnership, statistics show that up to 70 percent of business partnerships ultimately fail. Collaboration helps in expanding your business, but proper planning and communication are important factors to successful partnerships.
Your target here is a YES from your prospective partner. How to make a compelling project proposal that will meet any standard of your prospective partners? Other than the proposal samples given, provided below are some tips on how to make a comprehensive and firm partnership proposal.
1. Research Your Prospective Partner
Before you make any business proposal, you have to know your desired partner first. You have to conduct further research about your partner. If you know them well, it will be easier for you to set your standard and your purpose. You have to make sure that you are dealing with reliable sources. Choose what business firm helps your business grow and fits your products and services. No one likes to be involved with strangers, right?
2. Highlight the Benefits of Having You
Why would they choose you over other business firms? Clearly set the benefits that your potential partners can get from you. Not necessarily be different from others, rather, be more credible than them. You have to picture out a strong foundation that your partners can rely on you. You have to provide business solutions that are feasible and concrete. This is important in a way that will help you stand out from opposing business firms. Do not just include solutions; create opportunities and new information from your solutions.
3. Ensure a Pleasing Format
Nobody wants to stress their eyes out looking and reading proposals. Aside from the right details, you also have to ensure proper formatting. This will serve as the visual representation of your partnership proposal. If you wish your proposal format to make sense to them with a glance, then you have to check your formatting.
4. Present Your Purpose
Don't expect them to spend their time just by reading and understanding your proposal or agreement. Your potential partners are busy with their own lives and businesses, thus don't be a burden to them by exposing flowery details at first hand. Be direct and straightforward in presenting your purpose. Remember that your target is to get acceptance from your desired partner, not tell them how happy and grateful you are to handle this partnership business proposal.
5. Add a Sense of Urgency
Remember that you are presenting these partnership proposals for acceptance, thus it will be of no use if you wait for a long time waiting for rejection. When making your sample proposal, you have to add a sense of urgency, but in a discreet way. Do not point out that you are in a hurry because it will lead them to think negative impressions toward you.