When forming a joint venture with another business, your most important step is the approach you use when contacting your potential business partner.
Participating in a joint venture with another notable business can be particularly valuable to ones business. The biggest reason why many webmasters don’t receive a response back when sending a proposal, is the approach they use.
I can’t start to tell you how many proposals I have obtained that get deleted almost immediately. There are a few that address the suggestion with»Dear Webmaster» or as simple as just»Hello».
Some don’t tell me anything about themselves or their company (I guess I am suppose to guess at this one). While others might be run-on, have misspellings, or just plainly unprofessional.
A joint venture isn’t as straightforward as lets say a link exchange. It requires a bit more research and dedication by both parties.
Though you can send a joint venture via regular mail, think about sending your proposal by email on your first strategy. If they’ve provided their telephone number in their contact info, let them know that after a couple of days, you want to follow up with a personal phone call to go over the specifics. Stipulate a time period that you want to call and asking them to answer back if the time period is inappropriate.
Here are some tips when sending a proposal by email:
– Be clear and precise with your proposal.
– make certain to customize your email by using their name.
– Compose an email that shows trust and professionalism.
– Complement the positive points you found on their site.
– Include information about yourself, your site, your client base as well as the products and services you provide.
– Point out the way you feel your client base would be interested in his/her services or products, in addition to their clients with an interest in yours.
– Highlight how the two of you can benefit financially from this joint venture in addition to gain added exposure.
– Be sure all spelling and grammar is correct.
– When calling a possible business owner on a joint venture, the trick is to emphasize the financial benefit to both parties.
If you’re approaching a joint venture whereas another party is simply an endorser of your products, (like an ezine publisher) a larger percentage of each sale should go to the publisher. In this case you need to bear in mind they are doing all of the work while endorsing your product to their own established customer base.
As soon as you’ve found a party that is prepared to form a joint venture with you, you might wish to consider placing an agreement in writing and getting it signed by your new business partner. Just ensure that you outline all the terms in the agreement, like exactly what you both agree to, terms, commission, time period of the partnership, how each of you are to get paid, etc..