How Do You Write a Great Joint Venture Proposal?

Writing a good proposal for a joint marketing proposal isn’t hard when you have a well structured, simple, practical and actionable plan.

Look For Problems

Avoid the “confirmation bias” trap. People tend to pay attention to the facts that support their assumption and desires. When you want a deal to happen you’ll focus on the upside. Exciting by the potential to make a lot of money you may ignore flaws in your plan and problems with partners and products. You must take an objective perspective.

When you discover a fact or think of a potential flaw, right it down at once or you might conveniently forget to address it.  After you’ve played Devil’s Advocate to your own idea, run it past one of those overly analytic, pessimistic people who love to find flaws.

After you’ve identified any deal-breaking objections your potential partners may raise, invent ways to mitigate or eliminate risk while maximizing gains for your partners.

In planning a joint marketing deal you must consider likely outcomes, both good and bad. How will you mitigate losses if the deal flops? How will you handle a deal that’s too successful and creates too much demand? This isn’t the place to “spin” and try to pass off weaknesses as strengths.  Structure a smart deal. Good sense beats good spin.

Focus on finding the right idea and right partners. All involved must have good reputations. You can find out quite a bit about business people by searching the web but you won’t find everything. Talk to people you know and find people who have done business with your proposed partners. If the deal size warrants it, hire a private detective to check around.

A great idea will compensate for a less than perfect proposal document, but a great proposal on a bad idea is useless. And the big tip on proposal writing? Never offer to write a proposal. Only write one on request and after you have agreement on the general scope and terms.  Make it “back of the napkin” simple. Don’t try to impress; be clear.