How can you tailor a partnership proposal to a specific business?

The most important part of any proposed partnership is both parties are committed to add value each other. When you’re the one providing the proposal you need to affectively communicate why you think the partnership is a good decision for both companies/people. Any proposal requires the proper discussion (discovery) prior to any proposal, otherwise you’re just throwing darts with a blindfold on. In the initial discussion you might even decide this wouldn’t be a good partnership and that is okay!

There are 5 key sections of a partnership proposal. These sections need to be customised to demonstrate your knowledge of the partner, and more importantly, these sections and the proposal itself (until finalised and signed) should be considered a draft that can be evolved. This helps the person receiving the pitch at the soon-to-be partner organisation have some flexibility to tweak the proposal to increase the chance of its approval. The 5 sections: 1. What we’ve heard (from the discovery calls) 2. Points of clarification (to demonstrate you’d like to learn more) 3. Primary question to answer (to focus the partnership) 4. Proposed approach (to onboard and implement) 5. Work plan (to demonstrate urgency) Price and terms follow.

A partnership is an arrangement between two or more people to oversee business operations and share its profits and liabilities.it is win -win situation for all partner .The major four attributes of a potential partnership is 1.Communicative, 2.Accessible, 3.Flexible, 4 Provide mutual, and have measurable results

In my experience it’s important to provide a perspective of what your organization brings to the partnership. Therefore understanding your partners strengths and weaknesses is critical. That way you demonstrate the real value of the partnership in a way that resonates with your partner.

Knowing your partner well before creating a partnership proposal is crucial for several reasons: It allows you to understand their values, working style, and business goals, ensuring alignment and compatibility. This knowledge helps in crafting a proposal that resonates with their needs and expectations, increasing the likelihood of a successful partnership. Additionally, understanding your partner's strengths and weaknesses enables you to structure the proposal in a way that maximizes collaboration and addresses potential challenges, fostering a stronger and more resilient business relationship.

When considering a partnership don't just talk about what you bring to the table, explain how the partnership will specifically benefit their business. Quantify the impact where possible by mentioning increased revenue, cost savings or market reach. Demonstrate how you've helped other similar businesses achieve success.

Ensure there’s consistency across the entire outline. This is something one individual or a few stakeholders need to take ownership. This ownership would read the whole strategic plan outline and ensure that you have the same level of detail in each section and then communicate the plan going forward.

Identifying risks and challenges is an important two-way discussion. You can offer your companies experience in identifying and mitigating risks and addressing challenges. You should also ask your soon-to-be-partner during discover calls, the types of risks and challenges they have faced in the past and extend that to ask what they might be potentially worried about by partnering with you. In my experience, having this conversation and not assuming what the risks and challenges might be is a powerful step in developing trust.

Start by researching to understand its needs, goals, and challenges. Highlight how your proposal aligns with objectives, demonstrating a clear understanding of their industry and market position. Customize the language and tone to resonate with the brand voice and values. Showcase your unique value proposition, emphasizing how the partnership will benefit specifically, such as increased revenue, cost savings, or market expansion. Provide specific examples or case studies relevant to their industry to illustrate success. Finally, be clear and concise, outlining the partnership's terms and expected outcomes.

Fortune favours the followup. And before a business development or partnership person starts thinking that they are the reason for not getting a call back, remind them that the partner has multiple competing priorities, of which they are one. In other words, follow up!

When structuring a partnership proposal, it’s important to frame the issues you have identified (and your hypothesis about how you might address the issues and add value) in a format that invites a deliberation with your future partner. I tend to you the following format: 1. What we’ve heard - Replaying back what’s been learned in conversations to date 2. Factors that we would like to confirm - Questions that require clarification 3. The primary question to answer - Focus question to make sure we are solving the right problem 4. The proposed approach - steps to create value 5. Work plan to start developing value - timing 6. Team - Who’s leading the partnership and points of contact 7. Investment 8. Next steps