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Download"Coming together is a beginning, staying together is progress, and working together is success". This timeless saying from Henry Ford continues to ring true in a global market where partnerships can make or break a company's trajectory. But before any partnership can come to fruition, there's the inevitable "courtship" process for two organizations to agree on any joint endeavor. So a compelling Partnership Proposal is a must. Here, we will go over what an effective partnership proposal should touch upon, including value proposition, interest alignment, goal setting, implementation and execution planning, and team roles and responsibilities. With these elements solidly in place, it'd be much easier to foster trust and bring forth a shared vision for success.
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After all, strategic alliances are more than a handshake. Managers must present a detailed plan that demonstrates how a partnership offers mutual benefits. A staggering 70% of business partnerships fail, often due to a lack of clear communication and alignment on goals. A well crafted partnership proposal can help reduce these odds from the get go, and possibly even beat your competitors in getting the most sought-after collaborator.
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DownloadStart the partnership with a clear value proposition, in other words, what does your company bring to the table? It allows a company to highlight strategic capabilities and core competencies they take pride in, such as strategy pillars or innovative ideas untouched by competitors. For instance, a history of successful collaborations or unique technological advancements can be key differentiators.
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To enhance the presentation, visuals with hyperlinks, videos, and images can be added, making the proposition stand out. Not only will this demonstrate technical prowess, but it also showcases analytical capabilities that may tip the scales in favor of the proposing company.
Once the individual strength has been outlined, the attention shifts to aligning these strengths with those of the potential partner. The notion of value alignment centers around mutually beneficial exchanges and complementary capabilities. The aim is to create a Venn diagram relationship, where both parties benefit individually but also together. It is essential that what one company seeks, the other can offer, with both gaining from the partnership. This alignment forms the basis for collaboration and sets the stage for joint goal-setting and the achievement of shared objectives, which we will talk more about shortly in the next section.
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The Amazon and Kohl's partnership is a standout example of two companies aligning their goals to create synergistic value. Starting in 2017 as a small pilot program and then expanding nationwide in July 2019, Kohl's stores began accepting return items from Amazon customers, free of charge and without the need for packaging or labels. Customers could simply walk into a Kohl's store, drop off their Amazon returns at the designated return desks, and Kohl's would package and ship the items back to Amazon warehouses.
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This partnership addressed a specific issue in e-commerce: the inconvenience of returning online purchases. By tackling this pain point, Amazon aimed to enhance the online shopping experience, therefore, encouraging repeat business and customer loyalty.
For Kohl's, the decision to accept Amazon returns drove increased foot traffic into their stores. Their goal was that it would convert into additional sales. It was a strategic move, considering the broader challenge faced by brick-and-mortar retailers in the face of growing online shopping trends. In just the three weeks since launch, Kohl's stores welcomed a 24% increase in foot traffic. Additionally, data revealed that the Kohl's stores which accepted Amazon returns saw a notable boost in new customer acquisition rates. These new customers were presumably Amazon shoppers who may not have frequented Kohl's otherwise. In fact, as of 2021, Kohl's reports that the partnership has drawn in 2 million new shoppers, with a third of them millennials.
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DownloadNo partnership proposal is complete without clear articulation of specific, measurable goals. This allows partners to gauge the partnership's potential success. It could be about increasing annual revenue and cost savings, or achieving milestones like project completion or technical developments.
These objectives, whether for the short term or stretching into the future, anchor the partnership in realistic expectations. For sustained, long-term relationships, it is not just about immediate growth. This is where you get to think bigger – Whether it's to enhance industry standing over time or to increase market share.
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When Salesforce partnered with Apple in 2018, their goal was to improve Salesforce's mobile applications for businesses by leveraging Apple's iOS platform. They aimed to make Salesforce's CRM tools more powerful and user-friendly on iOS, with plans to train millions of Salesforce developers in using the mobile Apple ecosystem. This strategic objective was clearly defined to track the partnership's success in enhancing CRM mobile functionality and expanding educational opportunities for developers.
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Fast forward five years, in 2023 it was announced that Salesforce is integrating Apple Messages for Business and AR to enhance customer service. It appears that the partnership has moved into its long-term trajectory.
Goals without execution are just ideas. Because of that, the proposal should also feature a detailed strategy for the implementation and execution of the partnership. A high-level overview often starts by dividing implementation into stages, like preparation, integration and execution, and evaluation for continuous improvement.
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Further, consider a more comprehensive partnership roadmap with specific milestones and responsible parties for each task or activity. This transparency in execution strategy encourages confidence in stakeholders and decision makers and suggests an understanding of the level of commitment needed for success. What's more, it acts as a blueprint that both parties can refer back to throughout the partnership's lifecycle. As we all know, in real life, even the best intended plans can deviate with time.
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Finally, the presentation must make clear who will do what and when. Detailing the roles and responsibilities ensures that the human resources and talents required for achieving the proposed plans are available. It is not just about having a schedule; it's about showing that capable individuals are ready to oversee each aspect of the partnership. A sense of shared responsibility leads to better communication, peace of mind, and overall a more productive working relationship. Detailing the roles and responsibilities in the proposal signals that all parties involved have the means and the method to turn plans into concrete actions.
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To wrap up, a strategic Partnership Proposal presentation serves as the blueprint for a potentially successful business relationship. It starts with a robust value proposition, then seamlessly integrates value alignment and sets specific goals. The presentation follows through with detailed implementation and execution plans, capped by clear statements of roles and responsibilities. By addressing each area with concrete examples, statistics, and clear communication, the likelihood of a fruitful and enduring strategic partnership becomes far greater.
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