What is Joint Business Plan?
A joint business plan is a formal document that is created by a vendor and a strategic partner to outline their shared goals and the plan for how they will achieve them. It's a roadmap for the partnership. A good joint business plan includes specific, measurable objectives (like revenue targets), a clear definition of the target market, a joint marketing plan, and a list of the responsibilities and commitments from both sides. This process ensures that both the vendor and the partner are aligned and invested in each other's success.