Partnership Proposal
Businesses across different industries have built partnership agreements with other businesses or entrepreneurs. It’s a good strategy. At times, business owners don’t have enough resources to build their project or whatever business innovation. They need the support of other entities. Those entities will share their resources with them, and they’ll give something profitable in return. That’s what you call strategic partnership. So if you want to ensure your business’s success, seeking business partners is the way to go. Convince them to be a part of your organization by submitting a partnership proposal presentation. Start creating it with our Partnership Proposal Examples & Samples.
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What Is a Partnership Proposal?
A partnership proposal is a long-form document that invites companies or individual entrepreneurs to become business partners. It contains facts about a company, especially its attributes that make it worth investing in. A partnership proposal is what a business owner needs to pursue a corporate partnership with prospective business partners.
How to Create a Partnership Proposal
Seeking business partners is quite challenging. Getting them to buy into what your business does and how it can benefit them takes some convincing. But that doesn’t mean you can’t win them. With a decent partnership proposal letter, you can grab their interest and ultimately earn their trust. So, make sure to take note of these steps in creating a partnership proposal.
Step 1: Introduce Your Business
The first part of your proposal should be an introduction to your business or the executive summary. Make sure to write it engagingly. That way, the readers (your target business partners) will find your proposal interesting immediately. The introduction should include general facts about your business. You can also include its achievements and milestones for a better first impression.
Step 2: Emphasize What Makes Your Business Worth Investing In
After introducing your business, it’s time to do the proposing. That starts by explaining what makes your business worth investing in. It’s up to you what to discuss. You’re the one who knows what your business is about. You can talk about how good your products are, how profitable your business is, and whatnot. Emphasize the aspects of your business that make your proposal appealing.
Step 3: Explain What You Can Offer
Business partnerships are a give-and-take type of professional relationship. That said, your target business partners will ask what you can offer them. So, you must explain that in your proposal. Again, it’s up to you what you’ll offer them. But probably the best offer you can give is helping them with their business problems. They likely have their own issues as well. You can provide them with solutions through your own resources. Doing so will certainly make your proposal more convincing. For this matter, you have to study their business beforehand.
Step 4: Describe the Partnership’s Benefits with Figures and Statistics
Words alone don’t make for an attractive partnership proposal. You have to show the numbers on how the partnership’s benefits will unfold. Use charts, graphs, timelines, or infographics in explaining them. Particularly, you have to explain how sales, revenue, and profit will increase. Those are matters that you must convey using visual tools.
FAQs
What are the different partnership types in business?
These are the four types of business partnerships:
- General partnership
- Limited partnership (LP)
- Limited liability partnership (LLP)
- Limited liability limited partnership (LLLP)
What are a business partnership’s key features?
These are the key features of an effective business partnership:
- An equal share of profits
- An equal share of rewards and risks
- Accountability on both sides
- An equal right to make decisions
- Transparency
- Confidentiality
Why do some partnerships fail?
The Balance Small Business states that 70% of business partnerships end up failing. There are six main reasons why they fail. These reasons are:
- Mixing personal relationships
- Lack of commitment
- Minimal success
- Differing views, ideas, and values
- Clash of personality among partners
- Trust issues
However, don’t let those discourage you from pursuing business partners. Just partner up with those who share similar goals, views, personality, and perseverance with you.
Building an alliance with other companies and entrepreneurs will bring your business to a better place. It takes time and patience to do so. But the rewards will make it worth it. So, as early as now, start preparing your proposal and find the right business partner. Don’t forget to take advantage of our Sample Partnership Proposals.
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