Below are the key steps in writing a killer JV proposal:
1. Use a captivating headline or opening sentence that offers your JV partner a great benefit, picques their curiosity and compels them to read your whole letter. If the headline and/or opening sentence is targeted and good enough, they will read the next one etc. If any part of your offer is not compelling enough, they won’t read the rest and you will lose them.
2. Introduce and present yourself in such a way as to show them that you are serious, professional and trustworthy.
3. Make sure you are very clear as to what you want to do. Specify all the ideas and plans that you have in mind. Being vague will not work in your favour as people are busy.
4. Make your prospects feel unique and special.
5. Make your offer hard to resist. Remember that you have to sell your joint venture to your potential partner. Write it like a sales letter and do not hard-sell them. Pull them into your offer, incite them to accept your offer.
6. Explain who you are, how long you have been in business, what your product or service is like, how many people you have in your customer list, how responsive they are, your website URL, your conversion rate and any other info that you believe would be of interest to the other party for them to make an educated decision.
7. Make it look simple. Keep it organized and logical.
8. Be sure to make it personal. This is extremely important. Always us their name. Remember use your Alexa and Whois online searches and use that information to write your proposal. When you send them an email or a letter with all that hard to find information you will probably capture their attention and you will look more professional.
9. When mailing your proposal, you have to know about the A, B and C piles. When people receive mail, they always sort it out – they put everything that’s personal (or that looks personal) in one pile (the ‘A’ pile). Then they take what looks more or less important and put it in the ‘B’ pile to be opened later. The rest (the ‘C’ pile also known as junk mail) is simply thrown away. So your goal is to be in the ‘A’ pile – using the FedEx approach as discussed earlier will almost guarantee your proposal gets the right attention.
10. Be sure to make your JV proposal standout from the rest. If people are used to splitting profits 50/50 in a joint venture (remember you make your commission on the overall result of the joint venture deal), why not offer more on the first number of sales or even better give them ALL the profit if you have greater high ticket back-end profits you can make. This way the partner will push your product.
11. Put the decision makers name in the headline. The following email subject line has gotten a VERY high response rate for me: Dear Name, I want to work with you…
12. Always offer a guarantee and take away any risk if you can do it. Try the following in your body copy: “I want to send you my _________ so you can review it. I am just asking for a few minutes of your time. This is what I mean: spend a few moments to skim over my _________ and if it doesn’t live up to your expectations, let me know and I will immediately pay you _______ for your efforts”.
13. Put yourself in your prospect’s shoes when writing your letter.
14. Be sure to write your proposal carefully and to proofread it several times before firing it off. An excellent way to find mistakes in whatever you write is to read it out loud. Have someone else proofread it also.
15. If you have any testimonials from other people/businesses that you’ve joint ventured with, use them. A strong testimonial that gives figures and results is better. If you can prove that you’re honest, hardworking and that you’ve been very successful in the past it’s going to be a big plus.
16. Be sure to let them know that you are familiar with their business. If you are subscribed to their e-zine or newsletter, say it. If you’ve bought from them (which I advise you do to see their buying cycle) and like their product/service, say so but only if you are 100% sincere.
17. If you partnered with people in their industry, say so. It gives and instant boost to your credibility. They’ll think: “OK, if he/she worked with ___________ and __________, he/she must be good or have a viable business proposition. This is called ‘Social Proof’ and is very powerful.
18. Give them the impression that they’ll get a lot more out of the arrangement than you will.
19. Put your proposal in bulleted format and write short paragraphs, It’s easier on the eyes and is more liable to be completely read than a big block of text.
20. Just like in a well crafted sales letter always use your prospect’s first name often and talk to them not at them.
21. At the end of the letter, tell them what to do and tell them to do it NOW. If you have deadlines coming up tell them. If not, they may have a tendency to put it off and you’ll lose the deal.
22. Always use some P.S.’s because they are always read. Some people read the P.S.’s first right after the headline. This is your second headline you use to stress the urgency of the situation or the exclusivity.
Having said that, there is a quicker and easier way to learn how to become a ‘Certified Joint Venture Broker’ through The JV University and our new 12 week hands-on certified program – limited places now available over the next few days:
To Your Abundant Joint Venture Success!
Sohail Khan (the “Million Dollar JV Master”)
President & Co-Founder, TheJVUniversity.com
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