If you have identified potential business partners, writing a business partnership proposal is the next logical step! Sometimes, businesses may even ask you for one, after a round of informal talks. Either way, having a business proposal ready is always helpful.
An act of offering or suggesting something for acceptance or adoption, a business partnership proposal is essentially an ‘idea’ you share with a potential partner. However, before you put it forth, you must have a clear mission in mind. The individual will only be interested in your business partnership proposal if you have something valuable to offer.
Your business proposal could include expertise or business ideas that can boost the presence of both companies in their chosen target market. Moreover, it should be powerful enough to convince the other party about the prospects of the business partnership and how crucial partnership acquisition is in your industry. Before we get into the details of what to write, here are some essential points to consider:
Do Your Homework
The number one tip for writing a business partnership proposal is to do your homework sincerely. Learn about your potential partner’s business to discover how, where, and why it operates. Find out who their clients are and where they come from.
Gather as much data as possible about your this person’s promotional activities and even the sort of technologies they use. All of this will help you understand their business and write your proposal accordingly.
Use Powerful and Active Sentences
A business partnership proposal should not be dull to read! You must use powerful words and sentences to convince them to respond positively and promptly. Proposals that lack enthusiasm will make your agency look uninterested, and not ready for business, which may affect your agency’s reputation. Moreover, it will disrupt your reputation too. Here are some tips:
- Allow us to introduce our services
- Just like you, we honor trust and transparency in our business
- Please see our track record for the list of achievements
- We share a common goal
- We look forward to this opportunity to work together
Keep It Short, Simple and Sweet
Remember, your potential partners are most likely to be busy people. Keeping your business proposal brief yet interesting will get more attention than writing long and elaborate sentences. This is particularly important. Summing up your idea as concisely as possible also indicates that you have an excellent grasp of your business.
Now, let’s get to the finer details of actually writing a professional business proposal. We have prepared a systematic business proposal format to help you:
As role-play, let us assume you are an education agency and your potential partner is the University of New South Wales (UNSW). The first and most essential part of the business partnership proposal is where you should describe your business background. Including the business venture, you are proposing.
Then you can go on to say something like this: Your agency possesses rare insights and expertise necessary to reach new markets in South Asia, while UNSW wants to attract the attention of students in South Asia, who want to study abroad. Hence, Both parties agree there is a clear mutual benefit in establishing a university partnership or strategic alliance to pursue the objectives given below.
Clearly and concisely, list out the objectives of both organizations, in relation to the proposed partnership. What do you expect as an outcome of this business partnership? What are the common goals?
New Market Research
- Acquire data and insights on emerging new markets like observing intra-regional mobility of international students, based on your agency’s local knowledge and UNSW’s expertise on academic requirements and qualifications.
- Develop brand strategy, based on your agency’s local knowledge and UNSW’s expertise on academic requirements, qualifications, and university life.
Training and Counselling
- The staff at your agency will receive training from UNSW, to understand business partnership proposal educational requirements and assessment of qualifications.
Roles and Responsibilities
Here, you need to write about the roles and responsibilities of both parties. For instance, UNSW owns the intellectual property, including, but not limited to, plans, methods, and processes needed to fulfill the objectives. Your agency brings market expertise and local knowledge to fulfill the objectives.
This is something you can mutually decide with your potential partner. You can choose not to outline such details in the business partnership proposal itself. You can say something along these lines: your partnership or alliance can lead you down many roads. So, a strategic alliance agreement may make the most sense, but we must clarify a number of items regarding revenue sharing, royalty payments, among others, before doing so.
Revenues and Profits
Again, this is something that ought to be a mutual decision between your agency and the potential business partner. Leaving it open to a discussion will help your potential partner gain more trust in you. You may say something like this: A discussion around revenue sharing, profits or royalties will depend on the legal considerations mentioned above. Therefore, Let us schedule a meeting to finalize these details.
Lastly, you must include a non-disclosure agreement on documents like these, to avoid any leakage of information or ideas. It is a legal way of binding both parties to keep the proposal for business partnership confidential. You can write it in just one or two lines at the bottom of your business partnership proposal. Therefore, with that, you are ready to go and expand your business network.