Using templates to create a compelling a business partnership proposal
New business partnerships of various types are forged every day. Many of these alliances launch both parties into unprecedented levels of success and opportunity. Partnership proposals serve an essential purpose by describing the basic terms of these allegiances and how they might impact both parties in the future.
In this blog post, we review the key elements of business partnership proposals and provide a list of tips to optimize the proposal writing process. We also include a partnership proposal template that contains the key segments of the document.
What is a business partnership proposal?
A business partnership proposal is a document outlining the expected benefits, structure, and scope of a collaboration between two business entities. The proposal is typically utilized by one business to clearly articulate the benefits of the partnership to the other.
The partnership proposal is an intermediate step that comes between informal verbal discussions and formal contracts and confidentiality agreements. The specific topics covered in the proposal depend upon the type of business partnership.
- Strategic partnership: Two businesses collaborate to achieve specific strategic objectives, but do not merge their operations or finances.
- Financial partnership: An arrangement such as an equity investment where one entity provides financial support to the other in exchange for a share of the business or future earnings.
- Joint venture: Two or more companies align to create a new business entity with each contributing financial resources and expertise to the project.
- Co-marketing: Companies team up on collaborative marketing campaigns to promote one another’s products or emphasize how their products work together.
- Sponsorship: A business provides funding or another form of capital to a company or individual to support a special cause, event, or activity.
Regardless of the partnership type, business partnerships can bring a variety of benefits, including increased revenue, networking opportunities, and innovation to spur future growth. A partnership proposal is one of the first and most important steps toward reaping these benefits.
How to write a compelling partnership proposal
Although a partnership proposal is non-binding, a compelling proposal can be a game changer in sparking a mutually beneficial collaboration. If the partnership concept is not clearly stated and organized, it can have the opposite effect. A business partnership proposal should always include:
Call to action: The partnership proposal should also include a call to action (CTA) that prompts the reader to follow up by providing feedback, scheduling a meeting, acknowledging receipt, or otherwise indicating an interest in moving forward.ation process, SBA loans can provide high-dollar infusion with generous long-term repayment options.
Executive summary: A high-level overview of the proposal that includes the key points and purpose of the collaboration. A good executive summary also includes a hook to grab the readers’ attention.
Business overview: This section includes background, history, and other relevant information for each business and sets the stage by pointing out synergies and commonalities between the two parties.
Objectives and goals: The core of the proposal should include a section that briefly explains the long-term goals of the partnership and what each company might expect to achieve through the collaboration.
Value proposition: The value of the partnership in dollars, exposure, or other intangible benefits. This content is essential since it tells the reader why you are the right partner for them, and vice versa.
Roles and responsibilities: Without including specific names or titles, the proposal should describe which business entity will be responsible for upcoming actions and deliverables.
Terms and conditions: This section lays the legal groundwork for the partnership, covering issues such as dispute resolution, termination clauses, intellectual property (IP), and royalties that will need to be defined in greater detail when the deal is finalized.
Call to action: The partnership proposal should also include a call to action (CTA) that prompts the reader to follow up by providing feedback, scheduling a meeting, acknowledging receipt, or otherwise indicating an interest in moving forward.
Business partnership proposal template
Just like the partnership itself, a partnership proposal template brings many important advantages. Using a template and leveraging successful partnership proposal examples ensures key sections and content are captured effectively while creating a foundation that can be customized and built upon.
Business Partnership Proposal
Note: Replace all italicized text with original content and remove any sections that are not relevant to your circumstances.
[Name/Company Name]
[Partner Name]
[Date]
Executive Summary
A high-level overview of the proposal, including the purpose, primary benefits, background information, and strategic fit of the proposed partnership. Briefly touch on the goals and the perceived value of the partnership for both entities.
Business Overview
Your Company Overview
- Company Name: [Your Company Name]
- Industry: [Your industry]
- Core Business: [Brief description of products/services]
- Market Position: [Summary of your market position and strengths]
Partner Company Overview
- Company Name: [Partner Company Name]
- Industry: [Partner industry]
- Core business: [Brief description of partner’s products/services]
- Market Position: [Summary of partner’s market position and strengths]
Objectives and Goals
A clear and concise description of the specific outcomes the partnership will provide for both parties. Goals should be measurable and aligned with the strategic interests of both companies. Include more bulleted goals if necessary.
- Objective 1: [Describe Objective 1]
- Objective 2: [Describe Objective 2]
- Objective 3: [Describe Objective 3]
Value Proposition
Explain the specific benefits and advantages each party brings to the partnership. Describe how these strengths complement each other in a unique way to add value.
- Your Company’s Value: [Describe your company’s value]
- Partner’s Value: [Describe partner’s value]
- Combined Value: [Describe the combined value and synergy]
Roles and Responsibilities
Create a brief description of the expected duties and contributions of both parties, staying at a high level without mentioning specific titles or individuals.
- Responsibilities of Company [Your Company]:
- [Responsibility 1]
- [Responsibility 2]
- [Responsibility 3]
- Responsibilities of Company [Partner Company]:
- [Responsibility 1]
- [Responsibility 2]
- [Responsibility 3]
Financial Terms
Describe any important financial aspects of the partnership including investment funds, revenue sharing, payment terms, etc.
Proposed Schedule
Provide a proposed timeline for the partnership, including key milestones, deliverables, and review dates.
- Follow-up Meeting Date: [Proposed Date]
- Contract Initial Draft Date: [Proposed Date]
- Milestone 1: [Description and Date]
- Milestone 2: [Description and Date]
- Closure Date: [Proposed Date]
Legal Considerations
Summarize any known legal considerations that need to be highlighted, including intellectual property rights, confidentiality agreements, and termination clauses. Add additional bullets as appropriate.
- Confidentiality: [Brief description of confidentiality terms]
- IP Rights: [Summary of intellectual property rights]
- Termination Clause: [Outline terms for ending the partnership]
Next Steps
Prompts the reader to follow up by providing feedback, scheduling a meeting, acknowledging receipt, or otherwise indicating an interest in moving forward. This section is where you include your call to action (CTA).
Contact Information
Include contact information for key individuals from both companies who will negotiate and ultimately manage and maintain the partnership.
- Your Company Contact:
- Name: [Your Name]
- Position: [Your Position]
- Email: [Your Email]
- Phone: [Your Phone]
- Partner Company Contact:
- Name: [Partner Name]
- Position: [Partner Position]
- Email: [Partner Email]
- Phone: [Partner Phone]
Signature
[Your Name]
[Your Position]
[Your Company Name]
Tips for a successful partnership proposal
While templates can help you organize proposal elements within a structured document flow, there are many other key points to keep in mind as you craft the document in a way that is likely to garner interest.
Do your research
Thorough research demonstrates your level of interest in the other business and why you decided they would make an ideal partner. Take the time to review available information on the other party’s leadership, financial information (if available), history, and values and use it to highlight the synergies and mutual benefits.
Focus on their needs and goals
As you describe how to partner with another business within your proposal, be sure to consider the needs and goals of the prospective partner as much (if not more) than the benefits for your own business. Clearly articulated goals will help the other party decide whether the partnership aligns with their long-term strategy and values.
Personalize each proposal
Customized proposals signal a level of interest and effort that can be compelling to prospective business partners. Tailoring each proposal to the unique aspects of the partnership also builds a stronger case by zeroing in on benefits each partner is likely to experience and how obstacles can be overcome prior to moving forward.
Use visuals and data
Visuals like charts, graphs, images, and even videos can be more than just icing on the cake. Complex information can be difficult to state in words alone, so high-quality visuals and data can help convey key points more effectively. A prudent use of visuals also makes the content more engaging for readers.
Practice your pitch
Keep in mind that a partnership proposal is also a type of pitch, since it is intended to win over a target audience. While the partnership pitch may not be delivered in person, it can still be practiced, refined, and adjusted as you gather feedback from internal stakeholders. Streamline the pitch to ensure the partnership value is not lost in the messaging.
Follow up after your proposal
The CTA you develop for your partnership proposal should give your audience an opportunity to respond and move forward, but it shouldn’t be the only avenue for follow-up. Get back in touch with prospective partners once they have had a chance to digest the information so that any questions or concerns are addressed proactively.
In conclusion
For every successful partnership that has been forged over the years, there have likely been an equal or greater number of opportunities lost due to ineffective communication during the early stages of the process. Successful partnership proposal examples include some common threads that allow us to create effective templates, along with the practices and tools that help us to expand upon them. Combining these ingredients successfully gives new business partnerships a chance to flourish and develop into long-term allegiances.