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Five Things Not To Do When Approaching A Possible Partner

Jan 5, 2008
Approaching a potential online joint venture partner can be intimidating. Here are five Dos and Don'ts to get your partnership off on the right footing.

1. Don't be doubtful. You can literally kill your chances of success by believing your potential jv partner won't see the benefit 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 admire along with presentation. Let your JV partner know why you want to partner with them. Remember to emphasis what's in it for them. Be informed about their business and make yourself look professional. Ask questions and be willing to be flexible. Co-operation is key.

4. Don't push for a response immediately. Give your prospect the time to see the big picture. You may be completely familiar with your proposal however see if from the otherside might take some time.

Do allow your potential JV partner plenty of time to ponder over your co-operative plan. Be sure to get permission to recontact them after a period of time to see if they are ready to get started. You want to avoid pressuring them.

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 prepared to negotiate everything. Remember that in the long run, a joint venture partnership will still bring you profits, more contacts and customers, and a new business partner. Be willing to negotiate on tasks and profits - it not only demonstrates that you're a smart business person, it shows your partner your willingness to work with them.
About the Author
Robert Paul Williams is the Editor of Work At Home Business Website. Stay Informed with the Latest Legitimate Home Based Business News, Success Tips & Strategies.
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