January 5, 2008
Five Things Not To Do When Approaching A Possible Partner
Getting a business owner to partner up with you for a joint venture does require some sales savvy on your part. Here are five pointers to help you succeed.
1. Don’t be afraid. You can literally undermine your own success by not believing in the validity of your proposal.
Do contact your possible business partner with sincere friendliness regardless of how you contact them. Sincerity can be sensed. First impressions are lasting. Approach a potential partnership with an attitude that speaks of possibilities and mutual benefits.
2. Don’t tell your potential partner what’s in it for you. Your potential JV partner doesn’t care to hear how much you could use the extra profits, or what you stand to gain from the partnership. Put yourself in their shoes: would you like someone to approach you and tell you how much they would like to partner with you because it would help them? Probably not.
Do emphasize the benefits your business partner will get. Come from the space of “how we can benefit from each other”. Similar to the sum of the two is greater than the whole. Give details. For example, ” If we combine efforts, you will see an estimated X% increase in signups for your opt-in mail list”.
3. Don’t sell, particularly on the first meeting or communication. No one wants to be ’sold’ to, and jumping in with a heavy pitch is a turn-off. Again, put yourself in your potential partner’s shoes. How would you like to be approached for a joint venture partnership? Chances are you wouldn’t want to hear a sales pitch.
Do initiate contact with sincere compliments and weave your presentation into your conversation. Be upfront and let your contact know why you are seeking to partner with them. Do your homework and research your potential prospect’s business. You will definitely make points with them if you are knowledgeable about their business. Present your proposal with facts specifically beneficial to your potential JV partner. Be sure to ask questions along the way.
4. Don’t expect an immediate answer. You’re excited about working out a JV partnership and that is understandable; however, you’ve had plenty of time to think about it. The idea is new to your partner and they need time to mull it over.
Do give your partner time to think about it. You can either make a date to check back in to see if they have any questions, or you can leave it open ended and contact them again if you don’t hear from them after a few days.
5. Don’t be stubborn. You must not operate from the space that you know everything or else its just not going to work.
Do be willing to create a plan together. Keep in mind that over time, a JV partnership will bring in more money, contacts, and clients in addition to a new business partner. You must work out the details together with a give and take attitude. Show that you are intelligent, professional and well informed.
Filed under Internet Business by Robert Paul Williams

