Forums: Discussions for entrepreneurs and small business.

Hi-

I`m trying to start a business venture in the sport training area, and I`ve been talking to another company about a partnership to provide a new training product.  We`ve had a good relationship so far, and I`ve done some sales and marketing work for them, but we still haven`t moved forward on the partnership.

If I wasn`t already working with them, and enjoying working with them, I would`ve moved on.  But I`d like to make this work, and they`re definitely interested - it`s been back-burnered due to resource constraints, etc.

Does anyone have any suggestions on how to work to move this partnership to some definitive conclusion?

Thanks!

No, but I look forward to hearing what is said...

C.  


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XMG Internet Marketing Group
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This is a crappy reply... but no one else is answering...
I would say, write a list of what you think a good partnership should include. Put it together in a presentation. Then, when with the proposed partner... introduce it into the conversation (handing him/her the presentation). Or simply schedule a meeting to present it.

What ever is done... you need to show/tell them you are ready to move forward. At the same time, they may be telling you... their not as interested as you are in a partnership.

Negotiations can be difficult. It`s touchy and requires intimate knowledge of all parties involved.

I hope my post will at least inspire others to post also.


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Vincent Wilcox (a.k.a. KRAKR)
Drummer
My band: Letters Make Words

yes good anwser iouone2 and you inspire me to post.

1-make a plan to make sure they are the good partner.

2-Ask direcly to them what you want and what they want.

3-You have a plan now of what you have to do take a decision.

4-Evaluate your idea ! and if they are not interesting move on.

5-If your idea is great you will find other partner for sure

6-make a plan with them if they are realy interesting to the project to reach capital investor.

7- what iouone2 anwser you was right and more in the language of business.

 

Thanks, everyone.  I have done all the presentations, etc., to them to show the potential benefits of the project.

I guess I need to show them the benefits of partnering with ME, rather than just the potential benefits of the project in general.

Also, should I set a deadline for them to make a decision?

Thanks for all your responses.

Nipper, in regards to a deadline, it will really depend on if YOU have a deadline. Do you want to move onto some other partnership, with someone else? Do you have others to offer a partnership? Or do you want to wait around for these guys forever?

In order to come across "easy to work with." I would suggest outlining a loose deadline. (I am making up my own timetable for this example.) You could say, “You know, I am very interested in moving this idea forward. I got the impression you (them) were, if not ready, at least interested, in this partnership. I’m not looking to pressure you into a decision, but I need to continue moving forward. Please take some time to seriously think and discuss this situation with your colleagues. I will bring this up again in about two weeks. If you are ready, great! We can begin the process of partnership. If you are not ready or interested, I will need to move on. Of course you decision will not effect our current relationship.”

You may not use these exact words, but the point is to make it clear that you know they understand the situation (the presentation was provided earlier). You are also providing them a loose timeline which states you are ready and will soon move on.

If an ice cream shop offers .99¢ Sunday’s everyday, you may think… we’ll get one tomorrow… but tomorrow may never come… people are so busy… and we forget. On the other hand, if the ice cream shop offers .99¢ Sunday’s only for the next week, you are likely to place it higher on your “to do” list.

Have you ever observed retail stores stating “TODAY ONLY! BIG SALE!” Then about two weeks later… “TODAY ONLY! BIG SALE!”

They set a timeline. Then they will do it again later… those who missed the first sale, think to themselves. “Dang. I missed the first on, I better get to this one. They may not have another...

What do you think?


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Vincent Wilcox (a.k.a. KRAKR)
Drummer
My band: Letters Make Words

I think that`s a great idea, and more or less what I had in mind -- set a loose deadline to move the deal to some sort of conclusion, but not so firm/limiting as to miss a potential opportunity due to resource constraints on their end.  Thanks!

That`s exactly my point... but you said it better. 

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Vincent Wilcox (a.k.a. KRAKR)
Drummer
My band: Letters Make Words