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Discover some of the highly effective persuasion techniques that will turn your joint venture
proposals into profit-pulling partnerships, time and time again.

Steps

Find out about your potential partner by talking to them, reading their mission statement and researching them – as well as learning how they make decisions. This will reveal the "buttons" that you’ll need to press as you describe the benefits of the partnership (ie. more profits, something new to offer their clients, giving their business a new edge on competition, etc.).

Make an offer they can’t refuse. Again, this will also take some research, but within reason, you should bend over backwards to accommodate your potential partner and make it as profitable for them as possible. Remember that the clients you acquire from a joint venture (JV) will purchase from you again and again – and it’s usually the "back end profit" after the JV where the real money gets made...

Make it as easy as possible for them to say "yes". People in general are obnoxiously lazy. Many proposals have been rejected simply because they either seem too complicated – or it sounds like too much work, regardless of how lucrative they are. Simplify your proposal, and if necessary, take on the majority of the workload – remember that you’re sitting on a goldmine!

Show them the money. Don’t be vague when it comes to potential earnings. Logically explain to your prospect how much they could reasonably earn from the partnership. It is very important that you do not simply make an "educated guess" – base your predictions entirely on your current marketing stats, sales conversion rates and other real data. This is likely the most overlooked – yet crucial – part of any given JV proposal.

Be personal. A "canned" or impersonal proposal likely won’t even make it more than ten seconds before getting tossed in the garbage. Relate to your prospect and emphasize their values by validating their interests, goals and passions. Also, if you want to really make an impact, send your proposal as a hard copy via UPS or FedEx. Email is simply too easy to ignore, erase or forget about.

Add a real sense of urgency. You want to subtly hint to your potential partner that you won’t wait long to hear back from them – which is true, because if they say “no ?, you’ll have to find someone else anyway. Word this in such a way that it compels them to action either way – but don’t be overbearing, deceptive or unrealistic.

Build rapport with your prospect. You must understand that the majority of business people – especially those that are very successful – would much rather work with someone that they know, like and trust than a complete stranger. In fact, it’s crucial that you do this before you even send them a proposal...

Tips

Rapport is everything. Your absolute #1 priority is to have your potential partner like and trust you. Help them out in some way and become their friend before proposing a JV.

Instead of coordinating one-time endorsements, why not suggest an ongoing "co-project" of some kind? This will leverage both of your resources indefinitely

Offer to help your potential JV partner first - remember that in most cases, they'll help you in return.

Warnings

Whatever you do - DO NOT use "JV proposal templates". These are pure garbage, and they will only repel any potential partners from taking you seriously.

JV's are serious business. You actually stand to lose as much as you could gain if you end up working with a shady partner. Be very cautious, and leave no stone un-turned when drafting your agreement - as well as the deal itself.

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