joint business plan in spanish

¿Qué es un Joint Business Planning?

Alex ramirez.

• Apr 29, 2019
• Noticias Diarias , Retail , Retail Experience , Retail Marketing

Vivimos en un mundo cada vez más globalizado e interconectado. Esto no sólo es válido para las personas, sino también para los retailers , sus proveedores y las marcas de los productos que ofrecen. Por este motivo, ya no es suficiente que realicen sus esfuerzos de manera separada para llegar al cliente , sino que todas las partes involucradas en un proceso como el de venta tendrán que trabajar en conjunto, con la finalidad de aproximarse de una manera más efectiva con su público meta. Esto está asociado al concepto conocido como Joint Business Planning . ¿Qué significa específicamente este concepto? En las siguientes líneas hablaremos sobre él.

EL Joint Business Planning, el cual se abrevia por sus siglas como JBP, se puede comprender como un plan conjunto de negocios , por medio del cual retailers y proveedores establecen objetivos, estrategias y objetivos en común, para los cuales trabajarán de manera coordinada.

Dicho en otras palabras, el Joint Business Planning es la serie de pasos, herramientas y técnicas de las que se apoyarán los proveedores y los retailers con la finalidad de que el negocio de las partes involucradas crezca de manera sustentable y, sobre todo, de manera rentable.

Uno de los principales beneficios con los que cuenta el Joint Business Planning en el caso particular del retail es que tanto el distribuidor como el proveedor pueden trabajar para evitar de manera conjunta el quiebre del stock, por medio de un proceso de surtido mucho más eficiente.

Por medio de este plan integral entre las partes participantes en un negocio se buscará el modo de maximizar las ventas que se registren, sin tener que recurrir a modificaciones innecesarias en los precios de los productos, pero, al mismo tiempo, optimizando las ganancias que se consiguen, por medio del trabajo conjunto entre el retailer en cuestión y el proovedor.

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El medio de comunicación que reinventa la empresa

8 pasos para crear tu business plan y vender tu proyecto

¿qué es un business plan, ¿para qué es, ¿quién lo redacta y cómo, 1. presenta la empresa y el equipo directivo, 2. enuncia los productos y servicios, 3. prueba que existe un mercado potencial y el perfil de tu cliente, 4. identifica tu entorno competitivo, 5. determina tu modelo de negocio, 6. proyecta el plan de marketing, 7. solicita financiación, 8. evalúa el riesgo, business plan template: ejemplo concreto y plantilla en español, plan de negocio: modelo al alcance de la mano.

La puesta en marcha de un proyecto empresarial suele comenzar con la creación de un business plan (en español, plan de negocios) .

Si estás planeando lanzar tu idea de negocio, probablemente ya has escuchado hablar de la importancia crucial que tiene este documento para poder hacerlo. ¿Pero a qué hace referencia exactamente?, ¿es acaso solo un resumen ejecutivo ?

En este artículo te contamos qué está en juego durante la redacción de un plan de negocios , te damos un ejemplo concreto y te presentamos los pasos a seguir para lanzar tu proyecto ¡y obtener financiación !

Business plan: definición y finalidad

Un business plan, en español plan de negocios , es un documento o plan empresarial que presenta la estrategia y las repercusiones financieras que tendrá un proyecto, generalmente, a lo largo de tres años.

Cifras y argumentos son elementos clave para explicar la ejecución operativa y estratégica de tu proyecto , frente a inversores y/o bancos.

Su concepción tiene lugar durante la tercera etapa del lanzamiento de un proyecto , después de la creación de un producto o servicio que se va a comercializar y de la formalización del modelo de negocio.

Así pues, el business plan presenta la evolución de la empresa durante un período determinado, considerando:

• recursos consumidos ,
• ingresos generados.

El plan de negocios busca explicar, de forma estructurada y argumentada , principalmente a personas y organizaciones ajenas al proyecto, los diferentes aspectos que contribuirán a darle vida (acciones comerciales, la estrategia de marketing y las contrataciones a prever).

Saber a quién va dirigido es fundamental para desplegar los argumentos necesarios que conlleven a un apoyo financiero. Dichos argumentos deben contemplar:

• la capacidad del negocio de generar beneficios ,
• el plazo en el cual se devolverá el préstamo y sus intereses,
• las acciones que acarrearán un valor agregado .

Escribir un plan de negocios es explicar cómo se va a usar el dinero de otros para concebir un negocio fructífero.

La solicitud de financiación se apoya en la solidez y calidad de la información proporcionada. Asimismo, en la capacidad que demuestres de dominar las claves de la gestión empresarial para formalizar tu proyecto .

Es claro que la persona que va a llevar a cabo el proyecto es quien debe realizar la redacción del documento, pues será quien pueda defenderlo a cabalidad. Sin embargo, esta puede ser ayudada por una persona experta en gestión o contabilidad .

Un plan de negocios debe ser leído gradualmente. Para esto, desglosa la información , sin perder de vista elementos mínimos como:

• La presentación : documento simple y comprensible, que se enviará por correo electrónico y servirá de apoyo durante tu intervención oral y discurso.
• La hoja de cálculo con las estimaciones a futuro: ventas, facturación, gastos, etc.
• el plan de marketing (estudio de mercado, análisis de la competencia, definición de la persona, etc.),
• la empresa (estatutos, currículum del equipo directivo, organigrama, copias de patentes y licencias, etc.),
• la gestión de finanzas (balance de apertura, presupuesto de funcionamiento, presupuesto, flujo de caja, etc.).

Cómo hacer un business plan sencillo en 8 pasos

El siguiente video enumera algunas de las partes que constituyen un plan de negocios. El detalle del paso a paso te lo cuenta appvizer a continuación.

Aunque no hay un único modelo para construir un plan de negocios, sí existen ciertos pasos esenciales que deben seguirse. El orden de los mismos no es obligatorio, puesto que lo principal es aplicar un razonamiento lógico .

Como fundador.a de la empresa , detalla tu experiencia , habilidades clave y conocimientos empresariales en relación con el proyecto. Describe también la empresa y su sector de actividad .

Explica primero cuál es el problema o necesidad que presentan tus clientes, para luego demostrar cómo tu proyecto proporciona una solución. Esta es la razón de ser de la empresa .

Al mismo tiempo, presenta la estructura del grupo de personas que constituyen la empresa, detallando:

• experiencias exitosas del pasado,
• experiencias individuales,
• competencias individuales,
• la complementariedad de las habilidades del grupo, todas las habilidades deben estar presentes para realizar el trabajo,
• la visión común compartida por todos y la motivación.
• experiencias en tu campo de negocio,
• notoriedad y otros factores influyentes.

El producto o servicio debe satisfacer la necesidad existente expresada por el mercado . Se debe analizar la situación futura de la empresa, presentando sus debilidades y amenazas, así como las fortalezas y oportunidades ( matriz DAFO ).

© Infoautónomos

Demuestra que existe un mercado para tu negocio y proporciona todos los detalles posibles sobre la situación actual:

• tamaño y potencial del mercado ,
• crecimiento,
• clientes potenciales, segmentándolos para indicar para cada grupo la parte que representa en el volumen total del negocio,
• costes de penetración en el mercado (cargas sociales, esfuerzos de comercialización, activos fijos, etc.).

Una investigación de mercado puede reforzar este paso. Muchas agencias especializadas ofrecen servicios para entrevistar clientes futuros, con el fin de reunir datos cuantitativos y cualitativos.

La falta de competencia no es una buena señal, así como tampoco el exceso de la misma. ¿Quiénes son los competidores del mercado?, ¿cuáles son las barreras de entrada para los recién llegados y cómo las superarás?

Concéntrate en señalar tus fortalezas y aquello que te diferencia, puesto que esto constituye tu ventaja competitiva .

El modelo de negocio o modelo financiero es la forma de traducir , en términos económicos, tu actividad: qué vendes, a quién y a qué precio.

Entre lo muchos modelos que existen, escoge el más adecuado para tu negocio. El paso de un modelo de negocio a otro, llamado " pivote ", significa que el plan de negocios debe volver a concebirse casi que por completo, por lo cual es importante tomar la decisión correcta desde el principio:

• ¿De dónde vendrá el volumen de negocios ?
• ¿Cuáles son los canales de distribución ?
• ¿Cuál es la estrategia de precios ( posicionamiento )?
• ¿Cuál es la estrategia comercial ?

Pregúntate cómo conquistar tu público objetivo. Puedes basarte en las 4 Ps de Porter :

• punto de venta ,

Construye la comunicación alrededor de tu producto, basada en un retrato de tu clientela tipo o tu persona de marketing, de manera que puedas definir:

• un plan de acción de marketing (objetivos, campañas a realizar, canales, presupuesto, etc.),
• un plan de comunicación (objetivos, metas, mensajes, apoyo, presupuesto, etc.),
• indicadores para monitorear las repercusiones y beneficios .

En esta parte, te diriges a los destinatarios de tu business plan, explicándoles los recursos financieros que necesitas ( capital necesario ) para ejecutar el proyecto y cuál será su utilización .

Considéralo como una promesa: dotas de valor el negocio , mostrando los beneficios que un socio financiero podría obtener de él y las garantías que puedes ofrecer para la financiación. Para esto es necesario presentar la proyección de gastos e ingresos , la viabilidad, los aspectos contables y todos los demás elementos que justifican la rentabilidad financiera del negocio .

Es importante poder demostrar que serás un.a buen.a administrador.a de las finanzas y del flujo de caja de tu empresa , a partir de las previsiones trimestrales a tres o cinco años.

• Modelo de presupuesto: cómo hacer y plantilla para descargar

Aunque es aconsejable no centrarse mucho en los riesgos, sí se pueden evaluar los posibles escenarios desfavorables que podrían surgir. Los bancos esperan un riesgo mínimo , mientras que los inversores privados generalmente esperan una alta rentabilidad . Para esto, anticipa posibles contraargumentos de su parte y propón tres planes diferentes de desarrollo:

• El razonable : el que esperas;
• El optimista : el que, si todo sale bien, dará los mejores resultados;
• El desafiante : el que a pesar de las dificultades, lentitud e imprevistos, se tardará un poco más en alcanzar la rentabilidad.

El buen empresario identifica los riesgos, en qué etapas del proyecto se pueden presentar y cuáles son las medidas que se deben implementar para mitigarlos.

Aquello que pueda tener un impacto sobre el plan de tesorería deber ser igualmente contemplado, con el objetivo de presentar cuáles serán los medios para controlarlo.

Te presentamos nuestra plantilla de plan de negocios . Incluye todas las preguntas que debes hacerte para cada parte, con el fin de reunir la información necesaria y avanzar en tu reflexión. Utilízala como base para un resumen detallado y personalízala, de acuerdo a las especificidades de tu proyecto.

Plantilla para hacer Business Plan lista para usar

En cuanto al componente financiero de tu negocio, por otro lado, te puedes valer de una matriz excel , con proyecciones a tres o cinco años, según lo hayas decidido.

El business plan es una soporte poderoso que permite a empresas consolidadas y emergentes, hacer la proyección a varios meses de una idea de negocio. Este contempla todas las variables que afectan diariamente el proyecto y es un soporte escrito para convencer a terceros de que lo apoyen y financien.

Existen herramientas y métodos en línea que simplifican el proceso de concebirlo y te aseguran el cumplimiento de tres criterios esenciales para atraer el interés de los inversores:

• que tu solución ofrezca respuesta innovadora a una necesidad real ,
• que cuentes con un equipo calificado ,
• que el tamaño del mercado sea lo suficientemente importante como para invertir.

¿Y tú, a qué idea exitosa le vas a apostar hoy?

Artículo actualizado, publicado inicialmente en febrero de 2020.

Ingeniera civil (Universidad Santo Tomás, Bogotá, Colombia) con máster en lenguas modernas de la Université Paul Valéry de Montpellier, Francia, María Fernanda trabaja como traductora, redactora y creadora de contenido. Hoy en día, combina sus habilidades analíticas con su amor por la escritura para crear contenido de calidad sobre diferentes temáticas y llevarlo más allá de las fronteras. Yoga, bienestar, recursos humanos y un sinnúmero de temas del mundo empresarial, cada asunto es tratado con precisión, con el objetivo de adaptarse a un público objetivo específico. Este camaleón idiomático es un verdadero apasionado por la lista de viñetas (¡el SEO forma parte de su ADN!).

María Fernanda Aguirre , Editorial Manager

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Guía para Pequeña Empresas - Small Business Guide: Plan de Negocio - Business Plan

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What Is a Joint Business Plan (JBP)? Benefits & Best Practices

By 8th & Walton | on October 2, 2022

From small businesses to large corporations, the most successful companies begin and stick with a clear business plan. When a company defines its goals, lays out a path to meet objectives, and agrees on financial spending and expectations, it creates a shared vision and accountability to succeed.

Many businesses experience greater growth when partnering with another business. In the supplier and retailer relationship, both parties working independently would be detrimental. To create a mutually beneficial partnership, they must begin by defining each company’s responsibilities, expectations, and needs in a joint business plan.

What Is a Joint Business Plan?

A joint business plan (JBP) is the collaborative process of planning between a retailer and a supplier in which both companies agree on short-term and long-term objectives, financial goals, growth, and shared business initiatives for profitability.

Joint business planning focuses on agreeing on common objectives and aligning on a single goal or set of goals. The companies in the joint business plan must work together to accomplish a shared vision.

What Is the Purpose of a Joint Business Plan?

For retailers and suppliers, having a joint business plan can create a win-win strategy in growing consumer sales. An effective JBP allows suppliers to build stronger relationships with their retailers so both parties can mutually support and benefit from each other.

When a retailer and supplier recognize each others’ needs and agree on common goals, they can share insights to support each other and improve sales, customer growth, and processes.

How Does a Joint Business Plan Work?

Two companies can come together with a joint business plan because they have one thing in common: a shared shopper . Whether it is a supplier partnering with a retailer or a children’s clothing company partnering with a toy manufacturer, having the same target audience is the first element that brings the companies together.

The companies considering a joint business venture should then share their individual business plans and discuss their mutual growth opportunities. This is where the general goals and areas of support can be defined. Specific tactics and category strategies can also be fleshed out in early discussions before moving to the formal process.

Once both companies are in agreement that the partnership will be mutually beneficial, the joint business plan can be created. Formal contracts are drawn up, approved, signed, and the plan is ready to be executed. Periodic reviews and necessary adjustments to the JBP are recommended as needed.

Benefits of Joint Business Planning

Why enter into a joint business plan with another company? The benefits can be not only financial but educational as well:

• Aligning goals.  For a retailer/supplier joint business plan, being aligned on goals creates clarity on all other areas of the business. Defining expectations on all areas from marketing to supply chain to sales goals leaves minimal area for questions. Agreeing on goals, no matter how and when they are measured, keeps both parties accountable and benefits both to meet expectations.
• Shared resources and exposure. Partnering with another company can bring a new audience and a new platform. In a simple retailer/supplier joint business plan, the retailer can introduce the supplier’s product to its core shoppers. At the same time, shoppers loyal to the supplier’s product or brand can be introduced to the retailer’s store and website for the first time.
• Greater return on investment.  By partnering with another company with a shared vision, the benefits above will provide a better ROI when the plan is executed correctly.

Joint Business Planning Best Practices

How can companies ensure their joint business plan is a good fit for both parties? These are some best practices to include in preparation for entering into the partnership:

1. Align Internally First

Before entering into a joint business plan with another company, all members of the business must agree on the benefits of the partnership. Recognizing the advantages and seeing the bigger picture is key. When employees are in alignment within the company, it will be easier to align with the partnering company on the shared vision of the joint business plan.

2. Create the Plan Together

When two businesses enter into a partnership, the joint business plan should not be built by only one. A company sending another a complete plan or just a form to fill out is not collaborative. Both companies need to build the plan from the ground up. Collaborating in the development of the joint business plan is just as important as executing the plan itself.

3. Set Specific Goals

Expectations for success in the partnership need to be specific. “We need to grow sales” or “production costs will decrease” are good goals, but too general. Keep specifics in your plan that are as specific as they are realistic. If one company wants to grow sales by 40% in the next quarter, this should be spelled out in the joint business plan so get early support or push back from the other company.

4. Assign a Metric to Each Goal

Putting a metric with a goal keeps the company accountable to the mission of the joint business plan. For example, if the goal is to grow sales by 40% in the next quarter, it would be wise to assign a weekly growth metric. If the metric is too low over a few weeks, the plan shows that action needs to be taken immediately in order to meet the 40% sales growth goal for the quarter.

5. Communicate Responsibility and Accountability

The joint business plan is the place to eliminate all guesswork. If Company A is responsible for providing labels to Company B, be very specific about the responsible parties. Clarify that the packaging coordinator of Company A will mail the labels to the warehouse manager of Company B on the first of the month.

6. Include Risks and Solutions

Planning for setbacks is key to planning for success. The joint business plan should include any possible risks or obstacles foreseen by either company. Having solutions in place for multiple scenarios makes the plan easier to execute.

7. Constantly Evaluate the Relationship

Joint business plans work better with trust, mutual respect, and a great working relationship. Keeping the relationship healthy between the companies and individuals relying on each other brings more success to the overall plan. Monitor the relationship periodically and work to resolve conflicts as they arise.

Joint Business Plans at Walmart

Walmart works with its suppliers to create plans for sales and category growth. The company relies on suppliers to bring insights to the table to spot trends and get in front of potential gaps in the business.

Back in 2011, Walmart created a joint business plan with Proctor and Gamble to pick up lost sales in air fresheners. This category was down over 2% across the chain, but P&G brought insights to Walmart on how consumers were purchasing throughout the industry.

Consumers had no problem going to Walmart for aerosol sprays for under a dollar, but would then go to specialty stores to purchase expensive candles in the same scent. Through communicating through the joint business plan, Walmart was able to create excitement around higher price-point items and show the shared shopper they could purchase the extra items in one store.

Positive business collaborations can be extremely beneficial in growing retail sales. Two companies sharing a common vision can build on each other’s best practices and support each other to mutually win at the register.

Suppliers looking for support in their Walmart business have found great collaboration with 8th & Walton. Our team of experts supports suppliers to improve reporting, analytics, supply chain, accounting, and more. To begin a great collaboration with us, request a free 15-minute consultation this week.

About the Author

8th & Walton consists of retail industry experts with a combined 200+ years of Walmart and Walmart supplier experience. Having helped hundreds of CPG companies in their efforts to be better supplier partners to the world's most influential retailer, the 8th & Walton editorial team prides itself on being a go-to resource for Walmart supplier news and insights.

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A Guide to Joint Business Planning Best Practices

• March 21, 2024
• No Comments

Joint business planning is a crucial aspect of fostering successful collaborations between companies. In today’s dynamic business environment, strategic partnerships have become increasingly prevalent, making it essential for organizations to adopt effective joint business planning best practices. This article will explore the key principles and strategies that contribute to successful joint business planning, providing insights into how businesses can optimize their collaborative efforts for mutual growth and success.

Table of Contents

The Importance of Joint Business Planning in Today’s Market

In an era defined by rapid change and increasing interconnectivity, the significance of joint business planning cannot be overstated. This section explores how businesses can gain a competitive edge, foster shared vision, and unlock mutual growth opportunities through effective collaborative strategies.

Competitive Advantage and Shared Vision

Joint business planning serves as a catalyst for companies seeking a competitive advantage in the market. When organizations come together to strategically plan and align their strengths, they create a synergy that surpasses individual capabilities. This subsection delves into how collaborative efforts can amplify competitiveness by leveraging the unique strengths of each partner.

A shared vision is the cornerstone of successful partnerships. This subsection emphasizes the importance of establishing a common understanding of long-term goals and objectives. By aligning visions, businesses can enhance cooperation, minimize conflicts, and work towards a unified purpose. Effective joint business planning ensures that all stakeholders are on the same page, promoting a cohesive approach to achieving shared goals.

Mutual Growth Opportunities and Win-Win Strategy

Joint business planning creates a framework for identifying and capitalizing on mutual growth opportunities. This involves exploring synergies between partners, uncovering complementary strengths, and strategically leveraging resources. This subsection explores how collaborative planning facilitates the identification of avenues for joint growth, leading to mutually beneficial outcomes.

The essence of successful joint business planning lies in adopting a win-win strategy. This involves creating scenarios where all parties involved stand to gain, fostering a collaborative environment based on trust and reciprocity. This subsection delves into the principles of a win-win approach, showcasing how it not only enhances the success of partnerships but also builds a foundation for long-term, sustainable relationships.

Core Elements of Effective Joint Business Planning

Collaboration is only as strong as the foundation it is built upon. This section delves into the essential elements that underpin successful joint business planning, emphasizing the importance of aligning business strategies, sharing shopper and marketplace insights, and cultivating collaborative working relationships.

Aligning Business Strategies for Success

Central to effective joint business planning is the alignment of business strategies. This involves harmonizing the goals, tactics, and overarching plans of collaborating entities. By ensuring strategic congruence, partners can maximize the impact of their combined efforts. This subsection explores the intricacies of strategic alignment and how it forms the bedrock for successful joint business planning.

Effective joint business planning goes beyond immediate gains; it incorporates a holistic approach that integrates both short-term wins and long-term objectives. This subsection discusses how businesses can synchronize their timelines and milestones to create a comprehensive strategy that facilitates sustainable success.

Shared Shopper and Marketplace Insights

An integral aspect of joint business planning is the sharing of shopper insights. By pooling data and understanding consumer behavior and preferences, partners can tailor their strategies to meet evolving market demands. 

This subsection delves into the importance of shared shopper insights and how they contribute to more informed decision-making in collaborative endeavors.

In a dynamic marketplace, staying ahead requires constant awareness. This subsection explores how joint business planning encourages the exchange of marketplace intelligence. Partners can adapt to changing trends, capitalize on emerging opportunities, and navigate challenges more effectively by combining their knowledge and resources.

Collaborative Working Relationships

At the heart of effective joint business planning is the cultivation of collaborative working relationships. Trust and open communication form the backbone of successful partnerships. This subsection explores strategies for building trust among partners and fostering an environment where transparent communication is prioritized.

Collaboration often involves navigating unforeseen challenges and capitalizing on unexpected opportunities. This subsection discusses the importance of flexibility and responsiveness in joint business planning, emphasizing the need for partners to adapt and evolve together in a dynamic business landscape.

How to Create an Effective Joint Business Plan

In the pursuit of successful collaborative ventures, crafting an effective joint business plan is paramount. 

This section outlines the key steps involved in creating a robust plan, covering aspects such as setting joint objectives, resource allocation, and addressing legal considerations.

1. Setting Joint Objectives and Account Management

The foundation of any joint business plan lies in establishing clear and achievable objectives. This subsection explores the importance of defining shared goals, aligning strategies, and ensuring that all stakeholders are committed to a common purpose. Clear objectives provide a roadmap for collaborative efforts, guiding partners toward mutual success.

Effective account management is crucial for the seamless execution of joint business plans. This involves assigning responsibilities, creating accountability structures, and establishing communication channels. 

Delving into the intricacies of strategic account management, this subsection highlights how a well-organized approach contributes to the overall success of collaborative initiatives.

2. Resource Allocation and Shared Resources

Resource allocation is a critical aspect of joint business planning, ensuring that both parties contribute and benefit equitably. 

This subsection explores strategies for optimizing the allocation of financial, human, and technological resources. By balancing contributions, businesses can enhance efficiency and maximize the impact of their collaborative efforts.

Collaborative ventures often involve the pooling of resources to achieve common goals. This subsection delves into the concept of shared resources, emphasizing how partners can leverage each other’s strengths to overcome challenges and capitalize on opportunities. 

Efficient utilization of shared resources enhances the overall effectiveness and sustainability of joint initiatives.

3. Formal Contracts and Legal Aspects

A crucial step in creating an effective joint business plan is the establishment of formal contracts. This subsection explores the importance of clearly defined agreements, covering aspects such as roles and responsibilities, dispute resolution mechanisms, and exit strategies. 

Robust contractual frameworks provide a solid foundation for trust and transparency between collaborating entities.

Navigating the legal landscape is essential for the success and longevity of joint business ventures. 

This subsection delves into the legal aspects involved in collaborative efforts, addressing issues such as intellectual property, confidentiality, and compliance. Understanding and addressing legal considerations from the outset safeguards the interests of all parties involved.

Best Practices for Joint Business Planning Execution

Effective execution is the linchpin of successful joint business planning. This section explores best practices that organizations can adopt to ensure the seamless implementation of collaborative strategies, including the use of performance metrics, monitoring, accountability, and value chain analysis.

1. Performance Metrics and KPIs

Setting and monitoring performance metrics are essential elements of joint business planning execution. This subsection delves into the process of defining key performance indicators (KPIs) that align with the shared objectives of the collaborative venture. 

By establishing measurable benchmarks, organizations can gauge the success of their efforts and make informed decisions to optimize performance.

Performance metrics should not be static; instead, they should be subject to continuous evaluation. This subsection emphasizes the importance of regularly assessing KPIs, analyzing performance data, and adapting strategies based on the evolving needs of the collaboration. 

A dynamic approach to performance measurement ensures that joint business plans remain responsive to changing market conditions.

2. Monitoring and Accountability

Effective monitoring is a cornerstone of successful joint business planning execution. This subsection explores proactive monitoring strategies, including the use of technology, regular communication channels, and real-time data analysis. 

By staying vigilant and responsive, organizations can identify potential issues early on and take corrective actions to maintain the trajectory toward shared goals.

Clear accountability structures are vital for the success of collaborative ventures. This subsection delves into the importance of defining roles, responsibilities, and expectations within the partnership. 

Establishing accountability structures fosters a sense of ownership among all stakeholders, ensuring that each party contributes actively to the joint business plan’s execution.

3. Value Chain Analysis and Multi-functional Execution

Conducting a value chain analysis is a best practice that can significantly enhance joint business planning execution. This subsection explores how organizations can identify value-creation opportunities at each stage of the collaboration. 

By optimizing the value chain, partners can streamline processes, reduce costs, and deliver enhanced value to customers.

Collaborative ventures often involve the integration of multiple functions within each organization. This subsection discusses the importance of multi-functional execution, emphasizing the need for seamless coordination across departments. 

By breaking down silos and promoting cross-functional collaboration, organizations can ensure the holistic implementation of joint business plans.

Creating Value Through Customer Focus

In today’s customer-centric business landscape, creating value for consumers is at the forefront of successful joint business planning. 

This section explores strategies for placing customers at the center of collaborative efforts, enhancing consumer sales, and elevating the overall customer experience.

How to Create Value for Customers Through Joint Business Planning

A fundamental step in creating value through joint business planning is gaining a deep understanding of customer needs and preferences. This subsection explores how organizations can leverage market insights, customer feedback, and data analytics to identify and prioritize customer-centric initiatives. 

By aligning collaborative strategies with customer expectations, businesses can create offerings that resonate with their target audience.

Effective joint business planning involves co-creating solutions that address specific customer pain points. This subsection emphasizes the importance of collaboration in ideation and product development, showcasing how partnerships can bring together diverse perspectives and expertise to deliver innovative solutions. 

Co-created offerings not only meet customer needs but also differentiate the collaborative venture in the market.

Consumer Sales and Customer Experience

Joint business planning can significantly impact consumer sales by optimizing distribution channels, expanding market reach, and aligning sales strategies. This subsection explores how organizations can leverage their collaborative efforts to boost consumer sales. Whether through joint marketing initiatives, bundled offerings, or cross-promotions, aligning sales strategies enhances the overall success of the partnership.

Customer experience is a critical differentiator in today’s competitive market. This subsection delves into how joint business planning can be structured to elevate the customer experience. 

From seamless transactions to personalized interactions, collaborative ventures can enhance every touchpoint in the customer journey. Focusing on customer satisfaction not only builds loyalty but also contributes to the long-term success of the collaborative partnership.

In conclusion, the journey through the intricacies of joint business planning best practices has highlighted the pivotal role that effective collaboration plays in today’s dynamic business environment. 

From aligning business strategies and setting joint objectives to executing plans with a customer-centric focus, the success of collaborative ventures hinges on a thoughtful and strategic approach.

Frequently Asked Questions (FAQs)

What are the key metrics to measure the success of a joint business plan.

Measuring the success of a Joint Business Plan involves tracking key metrics such as revenue growth, market share expansion, customer satisfaction, cost savings, return on investment (ROI), and adherence to compliance and risk mitigation. 

These metrics provide a comprehensive evaluation of the collaborative venture’s impact on both financial and operational aspects, ensuring a holistic assessment of the plan’s effectiveness.

How do you resolve conflicts during the Joint Business Planning process?

Resolving conflicts during the Joint Business Planning process requires an open communication approach, identification of root causes, and, when needed, the involvement of a neutral third party for mediation. 

A clear definition of roles and responsibilities, the establishment of conflict resolution protocols within the joint business plan, and a focus on shared objectives contribute to addressing conflicts promptly and fostering a collaborative environment.

What role do executive sales leaders play in Joint Business Planning?

Executive sales leaders play a pivotal role in Joint Business Planning by strategically aligning sales efforts with overall business goals, contributing to resource allocation discussions, cultivating relationships with key stakeholders, providing market insights, and overseeing the performance of sales teams. 

Their involvement ensures that sales strategies complement the collaborative venture’s objectives, driving success in terms of revenue and market impact.

How often should a Joint Business Plan be reviewed and updated?

The frequency of reviewing and updating a Joint Business Plan varies but commonly involves quarterly reviews for timely adjustments based on market changes and annual updates for comprehensive reassessment of long-term goals. Additionally, trigger events such as major market shifts or significant internal changes may prompt unscheduled reviews. 

Adapting the frequency based on the dynamic nature of the business environment ensures the plan remains relevant and responsive to evolving conditions.

Are there any software tools that can facilitate Joint Business Planning?

Various software tools facilitate Joint Business Planning, offering features such as collaboration, data analysis, project management, and document sharing. Platforms like Microsoft Teams, Slack, or Asana enhance communication, while tools such as Tableau or Power BI aid in data analysis.   Project management software like Trello or Jira helps in planning and tracking progress, and CRM systems like Salesforce or HubSpot centralize customer interactions and sales activities. The selection of tools depends on the specific needs and preferences of the collaborating organizations.

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Practical guide for the formulation of a business plan (in spanish)

por Jose Diaz | May 6, 2022 9:38:49 PM |

A well structured and detailed business plan is essential to assess the future of the company and set realistic expectations in the short, medium and long term.

Begin the development of a Business Plan for your enterprise with our downloadable practical guide.

• Starting a business

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How to Write a Great Business Plan, Spanish Version

By: William A. Sahlman

Every seasoned investor knows that detailed financial projections for a new company are an act of imagination. Nevertheless, most business plans pour far too much ink on the numbers--and far too…

• Length: 11 page(s)
• Publication Date: Jul 1, 1997
• Discipline: Entrepreneurship
• Product #: 97409-PDF-SPA

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Every seasoned investor knows that detailed financial projections for a new company are an act of imagination. Nevertheless, most business plans pour far too much ink on the numbers--and far too little on the information that really matters. Why? William Sahlman suggests that a great business plan is one that focuses on a series of questions. These questions relate to the four factors critical to the success of every new venture: the people, the opportunity, the context, and the possibilities for both risk and reward. A great business plan is not easy to compose, Sahlman acknowledges, largely because most entrepreneurs are wild-eyed optimists. But one that asks the right questions is a powerful tool. A better deal, not to mention a better shot at success, awaits entrepreneurs who use it.

Learning Objectives

To gain familiarity with the four categories of information a business plan for a new venture must include: the people, the opportunity, the context, and the potential risks and rewards.

Jul 1, 1997

Discipline:

Entrepreneurship

Harvard Business Review

97409-PDF-SPA

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Joint Business Plan (JBP): Benefits, Best Practices & Objectives

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Last Updated on November 28, 2023 by Arif Chowdhury

Imagine two retail brands, each with their own unique strengths and market presence. Now picture the joint business venture, with two partnering business partners, joining forces to conquer a new market together through joint ventures. This is the power of partnering with other teams in a company – a joint business plan , where executive summaries are created to outline shared goals and maximize potential.

Collaboration is vital in today’s competitive industry landscape. By forming joint ventures, companies can pool their resources, expertise, and networks to unlock new opportunities, expand their reach, and drive growth like never before.

Joint ventures allow companies to collaborate and create stronger teams , leading to increased success. A joint business plan serves as the blueprint for this collaborative venture, outlining key objectives, strategies, and tactics that both parties will execute together.

A well-crafted joint business plan typically includes an executive summary that outlines the purpose and scope of the collaboration. It also details specific marketing initiatives such as promotions or product launches aimed at capturing the target market’s attention. It covers aspects like distribution channels, branding efforts, and sales projections to ensure alignment between both parties.

In this blog post series on joint business plans, we will explore the importance of collaboration in driving success for retailers and companies in today’s fast-paced retail industry. Collaboration is crucial for the success of ventures in the retail industry.

We will delve into the key components of an effective joint business plan and provide real-life examples to illustrate its impact. So buckle up as we embark on this exciting journey towards collaborative success!

Benefits of implementing a joint business plan

Implementing a joint business plan can bring numerous benefits to retailers and companies involved in the venture. Let’s explore some of these advantages in detail:

1. Increased Alignment and Synergy between Partners

One of the key benefits of implementing a joint business plan is the increased alignment and synergy between partners. When all parties in a joint venture are working towards a shared goal, it becomes easier to align joint venture strategies , joint venture objectives, and joint venture activities.

This alignment fosters collaboration and teamwork in the venture, allowing partners to leverage each other’s strengths and expertise.

• Better coordination between teams.
• Shared vision leads to improved decision-making.
• Enhanced trust and mutual understanding.

Example: Imagine two companies collaborating on a marketing campaign. With a joint venture business plan in place, both companies can align their messaging, target audience, and promotional activities for maximum impact.

2. Enhanced Communication and Coordination

Another significant benefit of a joint business plan is the improvement in communication and coordination among partners.

Clear channels of communication are established, ensuring that information flows seamlessly between all parties involved. This enhanced communication enables faster problem-solving, timely decision-making, and efficient resource allocation.

• Regular meetings facilitate open dialogue.
• Improved sharing of information and knowledge.
• Quick resolution of conflicts or issues.

Example: In a joint business plan between a manufacturer and distributor, regular communication helps them stay updated on market trends, customer feedback, and inventory levels. This enables them to make informed decisions regarding production volumes, delivery schedules, and product promotions.

3. Improved Resource Allocation and Cost Optimization

Implementing a joint business plan allows partners to optimize resource allocation effectively. By pooling resources together strategically, partners can reduce duplication of efforts while maximizing efficiency.

This collaborative approach also helps in identifying cost-saving opportunities by streamlining processes or leveraging economies of scale.

• Shared resources lead to reduced costs.
• Elimination of redundant activities.
• Efficient use of available assets.

Example: Two companies in the logistics industry can collaborate on a joint business plan to optimize their transportation routes, thereby reducing fuel costs, minimizing delivery times, and maximizing the utilization of their fleets.

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Best practices for successful joint business planning

1. establishing clear goals and objectives.

To ensure a successful joint business plan, it is crucial to establish clear goals and objectives . This means clearly defining what you want to achieve together with your partner or stakeholders. By setting specific targets, you can align your efforts towards a common purpose.

One way to do this is by using category management principles. This involves analyzing market trends, consumer behavior, and competitive landscape to identify opportunities for growth. By understanding the category dynamics, you can develop strategies that capitalize on market trends and consumer preferences.

2. Regular Communication and Feedback Among Stakeholders

Effective communication is key in any collaborative effort, including joint business planning. Regularly communicating with your partners and stakeholders helps maintain alignment and fosters a sense of shared responsibility.

By providing feedback throughout the planning process, you can address any issues or concerns promptly. This allows for adjustments to be made in real-time, ensuring that everyone remains on track towards achieving their goals.

3. Creating a Structured Timeline with Defined Milestones

A structured timeline with defined milestones is essential for keeping joint business planning on track. Breaking down the plan into smaller, manageable tasks helps ensure progress is made consistently.

Consider creating a Gantt chart or project timeline that outlines key activities, deadlines, and responsible parties. This visual representation provides clarity on the sequence of tasks and allows for better coordination among team members.

Establishing milestones helps measure progress along the way. Celebrating these achievements boosts morale and keeps everyone motivated throughout the planning process.

4. Developing a Win Strategy

A win strategy focuses on identifying how both parties involved can benefit from the joint business plan. It aims to create mutually beneficial outcomes that drive growth for all stakeholders.

When developing a win strategy, consider factors such as market share gains, revenue growth opportunities, cost savings through economies of scale, or access to new markets or distribution channels.

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Evaluating the progress of a joint business plan

To ensure the success of a joint business plan, it is crucial to regularly evaluate its progress. This evaluation allows you to monitor key performance indicators (KPIs), conduct reviews and assessments, and make necessary adjustments to stay on track.

Monitoring Key Performance Indicators (KPIs)

Monitoring KPIs is an essential step in evaluating the progress of a joint business plan. These performance metrics provide valuable insights into the effectiveness of your plan and help you gauge its success. By tracking KPIs, such as sales growth, revenue generated, or customer satisfaction levels, you can assess whether your joint business plan is delivering the desired results.

Some key performance indicators that are commonly monitored include:

• Sales performance: Keep an eye on how well your products or services are selling. Track factors like sales volume, average transaction value, and conversion rates.
• Promotional effectiveness: Evaluate the impact of marketing campaigns and promotions on driving sales. Measure metrics like click-through rates, website traffic generated from promotions, or coupon redemption rates.
• Product performance: Assess how well specific products are performing in terms of sales numbers, customer feedback, or market share gained.
• Customer satisfaction: Monitor customer feedback and ratings to determine if your joint business plan is meeting their expectations.

Conducting Regular Reviews and Assessments

Regular reviews and assessments are vital for evaluating the progress of a joint business plan. Schedule periodic meetings with all stakeholders involved in the partnership to discuss achievements, challenges faced, and areas that require improvement.

These reviews provide an opportunity to analyze data collected from KPI monitoring and gather insights from each party’s perspective.

During these sessions:

• Share research findings: Present any relevant market research or consumer insights that can inform decision-making processes.
• Discuss results achieved: Review the outcomes achieved so far based on set goals and objectives outlined in the joint business plan.
• Identify bottlenecks and risks: Identify any obstacles or risks that may be hindering progress and brainstorm potential solutions.
• Collaborate on adjustments: Work together to determine necessary adjustments or modifications to the joint business plan, ensuring it remains aligned with changing market dynamics.

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Making Necessary Adjustments to Stay on Track

Flexibility is key when evaluating the progress of a joint business plan. As you monitor KPIs and conduct reviews, you may identify areas where adjustments are required to maximize success. Making these necessary adjustments allows you to adapt your strategies, overcome challenges, and capitalize on emerging opportunities.

Consider the following steps for making adjustments:

• Analyze data: Examine the data collected from KPI monitoring and reviews to identify trends or patterns that require attention.
• Identify areas for improvement: Pinpoint specific areas within the joint business plan that need adjustment based on performance gaps or changing market conditions.
• Collaborate with partners: Engage in open discussions with your partners to gather their input and insights regarding potential adjustments.
• Develop action plans: Create detailed action plans outlining the necessary steps to implement changes effectively.
• Monitor results: Continuously monitor the impact of these adjustments on performance metrics and assess their effectiveness.

By regularly evaluating the progress of your joint business plan, monitoring KPIs, conducting reviews, and making necessary adjustments, you can enhance its chances of success. This iterative process ensures that your joint business plan remains aligned with evolving market dynamics and increases your likelihood of achieving mutually beneficial outcomes.

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Finding the right partner for joint business planning

Identifying the ideal partner for joint business planning is crucial to the success of any collaborative endeavor .

It requires careful consideration of various factors, including complementary strengths and expertise, compatibility in terms of values and culture, as well as conducting due diligence before entering into an agreement.

Identifying Complementary Strengths and Expertise

When seeking a business partner for joint business planning, it’s essential to identify individuals or organizations with complementary strengths and expertise. This means looking for partners who possess skills and resources that complement your own.

For example, if you’re a manufacturer looking to expand your distribution channels, partnering with a retailer or distributor who has established relationships with consumers can be highly advantageous.

Consider the following when assessing complementary strengths:

• Look for partners who excel in areas where you may have limitations or gaps.
• Seek out individuals or organizations that bring unique perspectives and capabilities to the table.
• Evaluate potential partners based on their track record of success in relevant areas.

Assessing Compatibility in Terms of Values and Culture

In addition to complementary strengths, compatibility in terms of values and culture is vital for a successful partnership. When embarking on joint business planning, you’ll be working closely together towards shared goals.

Therefore, aligning values and having a similar organizational culture can foster effective collaboration.

Here are some considerations when assessing compatibility:

• Evaluate whether your partner shares similar core values such as integrity, transparency, and customer-centricity.
• Assess whether there is alignment in terms of long-term objectives and vision.
• Consider how well your respective cultures will blend together to create a harmonious working relationship.

Conducting Due Diligence Before Entering into an Agreement

Before finalizing any partnership agreement, it’s crucial to conduct thorough due diligence. This involves gathering information about potential partners to ensure they are reliable, trustworthy, financially stable, and have a good reputation within their industry.

Here are some steps to consider during the due diligence process:

• Research: Conduct extensive research on potential partners, including their history, financials, and reputation.
• References: Reach out to their existing or past business partners to gather insights into their reliability and performance.
• Legal Assistance: Engage legal professionals to review contracts and agreements to ensure they protect your interests.
• Pilot Projects: Consider starting with small-scale pilot projects to test compatibility before committing to a long-term partnership.

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Maintaining a common vision and strategic objectives

To ensure the success of a joint business plan, it is crucial to maintain a common vision and strategic objectives with your partner. This involves aligning long-term goals and ensuring a shared understanding of strategic priorities. By continuously reinforcing the importance of collaboration, you can foster a strong partnership that drives mutual growth.

Aligning Long-Term Goals with the Partner’s Vision

When embarking on a joint business plan, it is essential to align your objectives with your partner’s vision.

This alignment ensures that both parties are working towards a common goal and have a clear understanding of each other’s expectations. By taking the time to understand your partner’s vision, you can identify areas where your goals intersect and collaborate effectively.

Ensuring Shared Understanding of Strategic Priorities

In order to execute a successful joint business plan, it is vital to establish shared understanding of strategic priorities.

This involves open communication and regular discussions about the strategies and tactics that will be employed to achieve desired outcomes. By aligning your strategies with those of your partner, you can create synergy and maximize the impact of your joint efforts.

Continuously Reinforcing the Importance of Collaboration

Collaboration is key in any joint business plan, as it allows for the pooling of resources, expertise, and networks. To maintain effective collaboration throughout the partnership, it is important to continuously reinforce its importance.

This can be done through regular check-ins, open communication channels, and providing support where needed. By fostering an environment that encourages collaboration, you can build trust and strengthen the relationship with your partner.

Maintaining a common vision and strategic objectives in a joint business plan requires strong leadership and effective strategy execution. It involves aligning long-term goals with your partner’s vision, ensuring shared understanding of strategic priorities, and continuously reinforcing the importance of collaboration.

You raise the chance of reaching win-win results if you keep this alignment throughout the collaboration. Recall that effective collaborative company planning needs constant communication and a dedication to collaborating to achieve shared objectives.

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Resources to help you get started with joint business planning

Creating a joint business plan can seem like a daunting task, but fear not! There are plenty of resources available to assist you in this process.

Let’s explore some of these resources that can help you get started with joint business planning.

Online Templates for Creating Joint Business Plans

One helpful resource is the availability of online templates specifically designed for creating joint business plans. These templates provide a structured framework that allows you to outline your goals, strategies, and actions in a clear and organized manner.

With pre-defined sections and prompts, these templates make it easier for you to navigate through the planning process.

• Saves time and effort by providing a ready-made structure.
• Ensures consistency and completeness in your joint business plan.
• Provides guidance on what information to include in each section.
• May lack customization options for unique business needs.
• Requires careful adaptation to fit your specific partnership dynamics.

Industry-Specific Case Studies Showcasing Successful Collaborations

Another valuable resource is industry-specific case studies that showcase successful collaborations between businesses. These case studies offer real-life examples of how joint business planning has been implemented effectively across various industries.

By examining these success stories, you can gain insights into best practices, challenges faced, and strategies employed by others in similar partnerships.

• Offers practical examples that demonstrate the benefits of joint business planning.
• Provides inspiration and ideas for implementing collaborative strategies.
• Helps identify potential pitfalls and ways to overcome them.
• May not directly align with your unique partnership situation.
• Limited availability of industry-specific case studies may restrict options for certain sectors.

Expert Guides on Effective Partnership Management

To further support your joint business planning efforts, expert guides on effective partnership management are available as well. These guides provide comprehensive advice on building strong partnerships, fostering collaboration, managing conflicts, and maximizing mutual benefits.

They offer valuable insights from experienced professionals who have navigated the complexities of joint business planning.

• Offers expert advice and proven strategies for successful partnership management.
• Provides step-by-step guidance on various aspects of joint business planning.
• Helps you avoid common pitfalls and challenges associated with partnerships.
• Requires careful adaptation to your specific partnership dynamics.
• May not address industry-specific nuances or challenges.

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Frequently Asked Questions (FAQs)

Can any type of business benefit from joint business planning.

Absolutely! Joint business planning is applicable across industries and sectors. Whether you’re a small startup or an established corporation, collaborating with another company through joint business planning can bring numerous benefits such as increased market share, cost savings through shared resources, access to new customer segments, enhanced product offerings, and improved overall competitiveness.

How do I find the right partner for joint business planning?

Finding the right partner for joint business planning starts with identifying companies that complement your strengths and fill gaps in your capabilities. Look for organizations with similar values and strategic objectives but different areas of expertise that can add value to your offerings.

Networking events, industry conferences, trade associations, online platforms are great places to connect with potential partners. Take the time to build relationships, assess compatibility, and ensure alignment before diving into joint business planning.

What are some common challenges in joint business planning?

While joint business planning offers numerous benefits, it can also come with its fair share of challenges. Common obstacles include differences in organizational culture and decision-making processes, conflicting priorities and objectives, resource allocation issues, and communication breakdowns.

The key to overcoming these challenges is open and transparent communication, mutual respect, and a willingness to compromise when necessary.

How do you evaluate the progress of a joint business plan?

Evaluating the progress of a joint business plan requires establishing clear metrics and milestones at the outset. Regularly review these indicators to gauge performance against targets.

Maintain open lines of communication with your partner to address any concerns or roadblocks that may arise along the way. By regularly assessing progress and making necessary adjustments, you can ensure that your joint business plan remains on track towards achieving its objectives.

Are there any resources available to help me get started with joint business planning?

Yes! There are several resources available to assist you in getting started with joint business planning. Industry publications, online forums, webinars, and workshops often provide valuable insights and best practices for successful collaboration.

Consulting firms specializing in strategic partnerships can offer guidance tailored to your specific needs. Don’t hesitate to tap into these resources as you embark on your joint business planning journey.

In today’s competitive business landscape, collaboration is key to success. That’s where joint business planning comes in. By partnering with another company and aligning your goals and strategies, you can unlock a whole new level of growth and profitability. Joint business planning allows you to pool resources, share expertise, and leverage each other’s networks to achieve mutually beneficial outcomes.

But it’s not just about the immediate gains. Joint business planning sets the foundation for long-term partnerships built on trust and shared vision. It enables you to navigate challenges together, adapt to market changes swiftly, and seize opportunities that may have been out of reach individually. By working hand in hand with a like-minded partner, you can amplify your impact and create a powerful synergy that propels both businesses forward.

Ready to tap into the power of joint business planning? Start by evaluating potential partners who align with your values and objectives. Establish open lines of communication, set clear expectations, and define measurable goals together. Remember, successful joint business planning requires ongoing collaboration and commitment from both parties. With the right partner by your side, there’s no limit to what you can achieve together.

Updated on 22 Nov, 2023

• " class="font-normal text-gray-700 hover:underline" >What is JBP in marketing?
• " class="font-normal text-gray-700 hover:underline" >What are the benefits of JBP?

JBP Objectives

Levels of jbp.

• " class="font-normal text-gray-700 hover:underline" >How do I prepare for a jbp marketing?

JBP helps customers goods suppliers and eCommerce store owners to build good relationships that benefit both and improve the eCommerce experience.

What is JBP in marketing?

JBP means  Joint Business Planning. It's like shared business planning , JBP is building winning relationships that benefit both suppliers as well as sellers and improve the good experience for consumers through clear insights.

Basically, JBP is an alignment process between the goods suppliers and sellers that produce breakthrough business plans. The main objective of JBP is to set the alignment of goals and some action plans between the two collaborative parties.

For sellers and suppliers, having a  jbp   marketing  can produce a win-win strategy in growing sales . An effective joint business plan allows suppliers to build stronger relationships with their sellers so both partners can mutually support and take benefit from each other.

When a seller and supplier understand each other's needs and agree on common objectives, they can share insights to support each other and that helps to improve conversion , product growth, and processes.

What are the benefits of JBP?

Some benefits that actually helpful while using the  jbp   marketing  model can be not only financial but educational as well.

Alignment: JBP being aligned on objectives creates clarity on all other areas of the business for both partners. Agreeing on the same goals, no matter how and when they are calculated, keeps both seller and supplier accountable and benefits both to meet expectations.

Exposure: Partnering with another business can bring new consumers and a new platform. In a simple seller/supplier JBP, the seller can sell the supplier’s product to its potential shoppers. At the same time, shoppers loyal to the supplier’s product can be visited the seller's eCommerce website for the first time.

ROI: By partnering with another business with a common goal, the benefits above will provide a better return on investments for both parties when the plan is executed correctly.

JBP is designed to deliver shared benefits or objectives, mutual accountability, and a perfect work strategy.

• Shoppers profile creation
• Time to time opportunity identification
• The alignment process focused on the same goal
• JBP including Scorecards and Strategies for both
• Mutually understanding joining plan development
• Understanding the seller Economics
• Differentiate JBP and Align It
• Maintain good contact with customers

There are mainly three levels of JBP present.

1. Foundational Level: In this aligns with basic metrics of sales, expenses, profit ,

etc. Plan for upcoming new product introductions and necessary adjustments, etc.

2. Advanced Level: Deeper planning. Foundation Level + more complex analysis such as supply chain/logistics efficiencies, and shopper marketing process.

3. Leadership Level: This is the highest level of commitment. Advanced Level + significant investment

in high-return elements of joint value generation such as new product innovation, equity building, and joint products.

How do I prepare for a jbp marketing?

Planning for a joint business plan involves several important steps that can greatly contribute to its success. We want to make sure that we cover all the necessary aspects to ensure a successful outcome.

One important thing to consider is to conduct comprehensive research on the market and the potential partners involved. This research can greatly assist in understanding the goals, objectives, and expectations of all parties involved, as well as identifying any possible challenges or risks that may arise during the planning process.

It is of utmost importance to establish friendly and open lines of communication with our partners in order to foster effective collaboration and coordination. This can be achieved by scheduling regular meetings, creating shared document repositories, and implementing clear protocols for decision-making and problem-solving.

Moreover, it would be really helpful to create a detailed timeline and action plan so that we can stay organized and keep track of all the tasks and activities needed for the joint business plan.

It would be really great if this plan could include some specific milestones and deadlines. That way, we can all stay on track and hold ourselves accountable.

Finally, it is crucial to consistently assess and review the progress of the joint business plan, making any necessary adjustments and improvements along the way to ensure its successful implementation.

By following these steps and putting in enough time and effort into the preparation process, you can significantly improve the likelihood of a successful joint business plan.

Frequently asked questions

A successful Joint Business Plan requires each party to have a clear understanding of the goals, business, and customer requirements of the others. A great JBP isn't just about the end result, but also about the process and strategy behind it.

It involves careful analysis, thorough research, effective communication, and strategic decision-making. A great JBP takes into account various aspects like market trends, customer needs, competition, and financial projections.

A joint business plan typically covers several aspects to make sure that a collaborative business venture is successful. These aspects include:

• A clear vision and mission statement
• A detailed market analysis
• A comprehensive marketing strategy
• A thorough competitor analysis
• A well-defined target audience
• A comprehensive financial plan
• A detailed implementation plan
• A robust evaluation and monitoring framework

In simple terms, a JBP partnership refers to a collaborative agreement between two or more businesses to achieve common goals and mutually benefit from the partnership. It involves working together, sharing resources, knowledge, and expertise to make the most out of each other's strengths and increase the chances of success.

Related terms

Complimentary Learning Resource from CMKG.ORG

Joint business planning resource guide.

Joint Business Plan: what's the point? .

It’s around this time that manufacturers and retailers agree joint business plans, or JBPs, for the coming year. But JBPs can be a very mixed bag, so if you’re going to do one, it’s essential you do it in the right way and for the right reasons. JBPs come in just three flavours, so which one is right for each of your major relationships?

The Sales Plan:

It’s the most common form of JBP but, in reality, it’s nothing more than a 12-month promotion calendar. Periods of trading, interspersed with launches and deals. It’s a low-value exercise. At best it helps you coordinate activity, stock, and investment across the year, but it’s never going to transform your businesses, so don’t waste much time on it.

The Battle Plan:

This flavour of JBP is really a competitive negotiating tool, to be used to gain specific commitments and concessions. A retailer may be offered extra promotions for a cost price increase. A manufacturer might be promised volume growth in return for more investment. The numbers in the plan are only there to support the negotiation, and to be used as a beating stick, for one side or the other, during the year. It’s a hard-nosed deal for a 12-month period, so it needs time, focus and planning.

The Strategic Plan:

The “strategic” JBP is very different. It requires an open, collaborative relationship. It starts with an ambitious vision of where the relationship could be in the future, where it could add genuine value for customers, and where it could create something new, different and worthwhile. The strategy is as much about joint initiatives as it is about buying and selling, and it may outline a plan that will run for the next several years.

BOTTOM LINE:  you can’t collaborate with someone intent on competing with you. But for those relationships where you can collaborate, the rewards from a strategic JBP can be huge. Choose the right approach, set appropriate objectives, and adopt a style to maximise the opportunity. Don’t waste your time going through the motions – there’s really no point.

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What Is Joint Business Planning?

Executive Vice President and Chief Merchandising Officer , Sam’s Club (Walmart)

Tectonic Shifts in the Retail Environment

The symbiotic relationship between retailer and Consumer Packaged Goods (CPG) companies has, till now, been able to support steady growth based on demand alone. Now, as the Consumer Goods (CG) industry continues to shift away from organic expansion, the need to reach more customers and engage new audiences is more important than ever.

Let’s dive in to some of the key shifts our customers are seeing in the retail environment:

• Competition: Authentic challenger brands are continually entering the market. According to a recent survey carried out by McKinsey, 30-40% of consumers have been trying new brands and products during the pandemic. Of these consumers, 12% expect to continue to purchase the new brands after the pandemic. More competition = more difficulty obtaining or retaining market share.
• Price Pressures: Global supply chain stress has created a multitude of issues for companies seeking to keep costs down. Disruptions in labour markets have seen  15% of companies  with insufficient labour for their facilities to keep up with increases in demand, leading to inflation re-emerging as a significant problem for the first time since the 1970s.
• Regulations: Changing consumer needs are not only encouraging the rise of new, healthier alternative brands but also instigating real legislative change. For example, in October 2022, HFSS (High in Fat, Salt & Sugar) regulations  will see a crackdown on promotions for unhealthy food and drinks, which will have serious repercussions for both suppliers and retailers.

Traditional Account Management Is Obsolete

Retail, Wholesale & Distribution Leader , Deloitte Global

These shifts have caused retailers to change the way they do business; the traditional playbook needs to be thrown out and rewritten. The diversification we have seen in channels, models and store formats means that retailers’ expectations for suppliers have changed. And, as increasing numbers of authentic challenger brands come to market, competition has never been higher. 

For both retailers and suppliers, Key Account Management (KAM) needs to be revisited. A culture of test & learn in real time needs to be applied to contend with these new market entrants and, with “key accounts contribut[ing] between 40% to 80% of revenue for a branded supplier” in developed markets as indicated by   this article by Bain & Company , the time to reinvent is now.

Major incentives for change can be distilled into these three points:

Negotiation Can Feel Like a Zero-Sum Game

In the past, the CPG industry power dynamic has often favoured the supplier, but this is no longer the case.   Only 3% of retailers   are in an exclusive relationship with just one supplier in a given category, indicating the clout they hold to sway access to consumers is higher than ever before. With   a number of Consumer Goods companies   falling prey to a one-size-fits-all to their global business models, they have been losing valuable ground to more specialised, relevant competitors.

For CPG companies, visibility at point-of-sale for their products is vital. For retailers, getting the product in-store   to   sell is their business. Having retailers being ‘on-side’ and aligned is game-changing for suppliers. 

But, as indicated in the name, Joint Business Plans need to be exactly that: Joint. If the manufacturers arrive at the table with a railroad agenda, offering little to no agency to the retailer, it will be too one-sided and off balanced. If retailers have unrealistic expectations, e.g broad assortments or 24-hour delivery, from certain suppliers, the equilibrium of the plan will be thrown off from the outset. This is where the value of insight-sharing cannot be understated;   IGD asserts   that both sides must ‘be prepared to share information with each other’ to achieve success.

Both CPG companies and retailers need to be able to influence the plan and offer respective insights to avoid creating a zero-sum atmosphere.

How Can Joint Business Planning Be Achieved?

For companies collaborating on Joint Business Plans, certain proactive steps need to be taken to fit the plan to benefit both parties. Bain & Company have set out   five key steps   that they have seen Consumer Goods companies take to achieve ‘more trustful and productive’ relationships and provide significant value.

1. Understand the Retailer’s Economics as Well as Your Own

Entering into a business relationship, such as a JBP, with a full understanding of where a potential partner is in the market is pivotal to a successful collaboration. Being aware of any weaknesses provides the opportunity to address them before they become an issue and impact your business. 

In turn, a complete understanding of your own business’ strengths and weaknesses before embarking on any external partnership is equally important. A Joint Business Plan can only be successful if it truly brings benefit to both the retailers and CPG companies; without this, joint commitment can’t be assured. 

This demands the creation of an environment where retailers and CPG companies can offer total visibility into their data, thereby enabling creation of target audiences and consumer journeys. As indicated by an   IGD Industry Survey , ‘Too often trust is the biggest barrier to putting any proposal into action’. Data transparency reduces the possibility of down-the-line surprises and potential derailing of the plan.

2. Differentiate Your Joint Business Plan and Align It With Your Retailer’s Strategy to Target Shoppers

While keeping costs down may be   advantageous, it is vital not to lose sight of the top priority; understanding the target customer segments. 

Customer data extracted through the collaborative JBP can help maintain product stock levels, illustrate demand and identify trends in product distribution. Without this information, even a theoretically perfect Joint Business Plan will fail. Understanding who the customers are and what they are buying better enables CPG companies and retailers to produce and distribute – keeping the customer’s needs at the crux of their strategy.

It’s important to note that Joint Business plans are not one-size-fits-all; it may take more time to differentiate a plan to make it more tailored to a specific relationship, but the benefits can outweigh the expense.

3. Have Teams on the Ground Executing Key Customer Touchpoints and Confirming Compliance

Research by POI illustrates that   58% of CPG companies   are struggling with retailer aligned compliance for store-level promotion execution. Clearly, there is a concerted need to ensure in-real time that assured promotions are being carried out, but   27% of CPG companies   do not get   any   real-time insights into retailer compliance, forcing them to wait until the end of a cycle to make any significant changes.

While promotion compliance isn’t a new issue in the Consumer Goods industry, it can be a major roadblock to a JBP. With teams in the field, far more regular compliance checks can be performed and the information shared much wider, much faster. 

4. Maintain Year-Round Contact With Customers at Multiple Levels and Functions

The dialogue between each party needs to continue beyond initial negotiations and agreements. Regular meetings provide opportunities to correct mid-cycle issues, where the retailer and CPG company can align on real-time results and solutions. 

Without clearly defined and tracked performance metrics, the success of the JBP is uncertain. Both parties need to agree on what data sources are going to be reviewed. Expectations must be laid out internally and externally, to establish what each side hopes to get out of the arrangement. This will prevent potential disappointment if or when unaired expectations aren’t met. 

It is also important to have discussed and agreed upon the terms and investment in the JBP. Going into a project aware of the value that each business is adding to the other and being able to quantify the ROI is fundamental to a successful Joint Business Plan.

5. Use the Most Advanced Tools and Insights to Stay on Top of Your Joint Numbers

As shown in the recent Promotion Optimization Institute (POI)   State of the Industry Report , 64% of manufacturers have challenges when looking for data from retailers. When data is such a foundational element to gainful retailer partnerships, it needs to be shared. The ideal is to involve teams from across the company including distribution, sales, finance and marketing. Siloed internal communication can negatively impact information sharing and lead to failure of a JBP.

CPG companies need to leverage real-time insights pulled from a range of commercial data sources that allow them to optimize strategies based on their business goals and current supply and promotion constraints. This maximises the value of every dollar invested in trade spend.

Aforza & Joint Business Planning

Closely aligned with the tenets of   Bain’s Key Account Management Commercial Excellence   framework, Aforza drives Joint Business Planning with an end-to-end platform of core functionalities:

• Account 360° View : Gain a complete view of an account’s hierarchies and key relationships, as well as visibility into all engagement activity across channels.
• Real-time Data & Insights on Account Performance:   Get real-time insights, from a range of commercial data sources, across all aspects of your key account performance.
• Integrated Trade Promotions:   Optimize trade spend  and   target key customers   by displaying a real-time view into promotion performance, inventory levels, sales order insights, budgets & funds, plans & objectives.
• Retail Execution   Checks from Field Sales Teams:   Leverage your teams in the field to check key account compliance and take promotion-based order capture with penny-perfect pricing on mobile;   online or offline .
• Digital Asset Management :   Ensuring all important business documents are centralised and accessible against the account, such as contracts and Joint Business Plans.

Check out this demo from Aforza’s Chief Product Officer, Nick Eales, as he showcases how leading Consumer Goods companies are leveraging Aforza to create productive account collaborations that unlock revenue potential like never before:

With industry-leading innovations and capabilities, the Aforza cloud & mobile solution continues to help consumer goods companies sell more and grow faster. Take the first steps now and create productive account collaborations that unlock revenue potential like never before.

Join Aforza

Explore exciting opportunities to join the Aforza team and drive innovation in the consumer products industry.

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Expanding into Spain: Everything You Need to Know

Along with a structured business plan, this detailed guide should ensure you get a successful foothold in the spanish market..

Growing a successful business requires hard work and dedication. Once it takes off in your home country, the opportunities for wider success become even more clear. If you are wanting to reach a larger audience with your products and services, Spain may be the ideal location to grow your business.

Spain makes the top three list of excellent countries to establish a business in Europe. The Spanish market is categorised as a high-income economy because it is the 14th largest globally. As the 4th largest country in Europe, Spain has a very competitive economy with close ties with European and Latin American nations, a convenient location occupying Africa and Europe, and has a growing interest in constant research and technology.

How to expand your business into Spain

In most cases, expanding a business to a foreign country can be pretty daunting. More so if you lack adequate information on some issues such as the country’s business structures, legal processes, and regulations , to aid the smooth running of your business. Along with a structured business plan, our useful resources should ensure you get a successful foothold in the Spanish market.

Setting Up an Entity in Spain 

The country of Spain is an ideal place to set up a business as an expat.  There are different business structures in Spain. A popular setup option in Spain is the Limited Liability Company (Sociedad de Responsabilidad Limitada/SL)  which many small and mid-sized companies in Spain utilize.  Steps you must take to set things in motion include:

Get Your NIE Number  

Getting an NIE (Número de Identidad de Extranjero) number is a vital step toward setting up in Spain. It is an identification number given to non-Spanish citizens, enabling them to conduct activities legally. It is a straightforward process, taking a few days for EU citizens to acquire and a slightly longer time for non-EU citizens.

Next Up, Registering Your Company  

The next thing to do is to register your company’s name with the Registro Mercantil Central (RMC). This registration process confirms that the name you have decided for your own company doesn’t already belong to an existing company. It isn’t time-consuming and can be done online.

Receive Your Bank Certificate  

Opening a bank account should be your next move in setting up a company in Spain. It will prompt the receipt of a bank certificate. Also, you may need to deposit a sum in the account. It is 3,000 euros for a limited liability company.

More Registrations 

The registrations may appear never-ending for a new company, but going through with them is necessary. You can choose to get all the registration out of the way by applying for social security considerations simultaneously. For this registration, you will need all the documents you have acquired so far and TA 0521, which you can get at a local security office. You will need to register for a tax identification number (CIF) online or at the Tax Agency.

Filling the Seats of the Shareholders and Directors  

As a business owner, the last move will be establishing the shareholders and deciding on the directors. You will need to determine how many people will hold shares and their percentage in your new business. To fill the position of the director, you could pick two different people or a single person (Spanish resident) to have both corporate and operating functions.

Corporate tax in Spain is no joke, and defaulting on payment will attract strict penalties. The Spanish financial year is the same as a typical calendar year, and residents are taxed on their global earnings, while non-residents enjoy having only their Spanish income taxed. Another thing non-residents enjoy is a flat rate of 24%. As for residents, their taxes are charged progressively.  Taxes in Spain are a lot covering state and regional ones.

As an expatriate, there are biases in your favour. It is standard for an expat who becomes a resident to pay income tax. However, under the special tax regime otherwise known as Beckham’s Law by the Spanish government, you can be treated as a non-resident for five years, excluding the year you move.

The downside is that as expats taking advantage of the special tax regime, you don’t get to enjoy the full benefits a typical non-resident would. The exemptions in the non-residents’ income tax are unavailable to you.

What Visas Are Available to Those Wishing to Relocate?  

You can apply for a Spanish visa tailored to suit the activities you want to conduct in Spain from the variety of available long and short-term visas.

Let us get it down; you don’t have to bother with this if you are an EU/EEA national because you won’t need a visa, only a national identity number NIE (Número de Identidad de Extranjero) if you decide to stay for more than three months. However, if you don’t belong to the EU/EEA region but wish to relocate to Spain, you need a D-type visa and other documents .

Work Visa  

If you will be relocating for business purposes, a work visa is the correct choice. It is granted by Work and Immigration Offices available in the various regions. However, before you apply for a work visa, if it is a must, you have a work permit. Employees can’t apply for a work visa; the process will have to be handled by their employer. The exception to this is if you are self-employed. The lifespan of a work visa is a year. However, it can be renewed for an additional five years, after which you can get permanent residency.

Student Visa 

You can only apply for a student visa if you have received an offer from a school in Spain. The lifespan of this visa is as long as the study program. During your stay in Spain, you have the freedom to work and indulge in other activities.

Non-lucrative Residence Visa  

This visa is perfect for those who are financially capable of not having to indulge in any lucrative activity for as long as they remain in Spain. No form of work is allowed even remote jobs. It is the perfect visa for retirees.

Family Visas 

Your family can apply to join you in Spain if you have been a resident of Spain for a minimum of one year. They are also free to work without a work permit for the duration they’ll be there. Other available visas include a golden visa if you’d like to make investments and the digital nomads and remote workers visa, which hasn’t been passed into law.

Ease of Entry into the Spanish Market: Good Options for Expanding Companies  

Spain bounced back from its recession in 2007 and has had steady growth since then. It is an excellent place to set up your business, but it could be daunting for foreign companies if you go in without a plan. There are specific initiatives you could take to ease your market entry. Arrange for Physical Meetings  

It is crucial to know the preferences of the market you will be going into if you wish to expand abroad. When it comes to Spaniards, they value physical meetings; it could be what could change their status from potential investors to investors, especially if you plan to operate locally. Also, it is essential to know that even at these physical meetings, Spaniards are typically formal, so formal attire is recommended.

Take Advantage of the Recession 

Spain has come a long way since the recession. They have recovered, but not entirely. Due to the downturn, they faced over a decade ago; many skilled people are without a job. To ease your expansion into Spain, take advantage of the talent pool and recruit highly skilled workers.

Understand Spain’s Diversity  

Under the umbrella of Spain are 17 autonomous communities. Every community has its strong suits and distinct identities, with Barcelona and Madrid as the major economic hubs. So, spreading your business across all the districts is advisable, beginning with the famed business hubs.

Prepare Yourself for Delayed Payments

In Spain, credit is regular in the markets. Customers can make purchases on credit, and you have to be able to accept this, too, if you want to stand toe-to-toe with your competitors. Sometimes, it takes up to three months before payments are made.

Be a Problem Solver  

Be prepared because it won’t be easy to make customers out of Spaniards, except your products are unique and solve a problem. After all, they are conservative buyers. They stick to who companies they trust.

Final Words

Deciding to do business in Spain will have you beaming in the long run if you do the due diligence on your part and employ the services, advice, and support of experts. Don’t struggle with the entire process on your own; we are happy to help. Get in contact with us today!

How to Get the International Expansion Ball Rolling

Setting up a company in Spain is actually much simpler than many realise. Expanding internationally is a challenge, but when done correctly, it can be a streamlined process that enhances your business hugely.

Want to learn more about how to expand your business to Spain?    

Sign up to the Centuro Connect platform today and start your global expansion journey to Spain and 100+ other countries! The Centuro Connect platform has details on tax, immigration, market entry points, HR, marketing, and real estate – plus contactable reliable experts to help you ace your expansion. This means that no matter what stage of the expansion journey you’re at, support is there if you face a challenge.

There’s no risk, no hidden costs, and no endless documentation to fill out. Just a wealth of guidance and support, here to aid you and your business throughout your international business expansion.

Read more:  Learn how to expand your business into Germany

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Learn how global talent mobility plays a pivotal role in succession planning. Learn to effectively infuse mobility into your succession strategy, navigate potential challenges, and future-proof your leadership team.

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UK Businesses to face an increase in illegal working penalties: An overview 

From January 2024, UK employers will face increased fines of up to £60,000 due to illegal working. This article suggests actions to take to minimise the risks of being liable for civil penalties and ensure sponsor compliance.

Workations – The Hot Topic in Talent Management

JBP: The Brave Approach to Writing a Joint Business Plan

Written By:

How you can take the Brave Approach to Writing a Joint Business Plan – JBP – with a UK Supermarket:

Writing a Joint Business Plan (JBP), creating Joint Business plans, JBPs, or terms negotiations, as they can be known, are all relatively new phenomena in the world of supermarkets and suppliers. Whilst some supermarkets and suppliers, particularly the brands, have talked about joint business planning for some time, it is only in the last few years that it has become ‘business as usual’. Now featured in industry news and some Joint Business Plans are published online – This JBP is for Tesco and Nestle in Poland.

The first moves towards a JBP were made when Category Management and ECR made an appearance in the 1990s with tools like the Category Scorecard. Hard-nosed buyers and sceptical account managers reluctantly dipped their toes in the water of true collaboration. Though, as Stephen Covey writes in Habit 4 win:win, the only way forward is together for mutual benefit. The definition of joint business planning is to work with a collaborative mindset towards mutual goals agreed upon for the benefit of the supermarket, supplier and shopper.

The Brave Approach to Writing a Joint Business Plan with a UK Supermarket is about helping UK supermarket suppliers to identify their true business objectives . Also, to understand what is strategic planning, identify the business terms and create a business plan that is worth having for both parties. Here are 7 brave moves that should be taken in The Brave Approach to Writing a Joint Business Plan with a UK Supermarket. This is because a supplier that does, will be best in class:

1. Stating the Blindingly Obvious – A Joint Business Plan is All About Trust

In Accenture’s free report on joint business planning, they talk of a change in mindset for both parties to achieve ‘Increased trust among parties’. And, of course, Accenture is right that trust is absolutely essential for a joint business plan to be effective. Plus, the IGD industry survey on Category Management Capability and Partnership of 2014, said that ‘Too often trust is the biggest barrier to putting any proposal into action’.

The challenge is that trust is hard to build and even harder to understand, particularly for people representing two large companies, where the aim is to make as much money as you can, usually by giving the other party less.

Discussing trust can be a sensitive topic and a brave topic to raise. Doing so provides a solid foundation to build upon. The simple choice is to either raise these issues now or to become frustrated when nothing happens. Better now because both parties are wanting to build a future together.

Action: Add ‘Building further trust’ as an early agenda point in your joint business planning meeting.

2. KISS is the Route that Succeeds Most with Joint Business Plans

KISS is a mnemonic that is often said and rarely used. In joint business planning the watch out is not to write a joint business plan together where people spend days locked away in darkened rooms solving the vision, the big category problems, discussing shopper switching, the next range review, why promotions don’t work, and the ‘kitchen sink’. The challenge and the brave approach is to work on less to achieve more.

Scoping what both parties want to achieve is essential and then identifying the 80:20 of those items. The objectives will be easily identified and usually around, ‘To write a joint business plan that delivers x growth/market share/sales by <date>’. The scope is hard. The important part because it might be just to complete a simple one-page document showing:

• Category Targets
• Category Measures
• Enabling Big Projects
• Project Milestones
• Ways of Working

This document could be just one page. But it is a bought-in, thrashed and motivating page. A page that both parties agree to start with and then review in 3 months. An 18-month plan is about the right timescale to tackle a joint business plan. There are those that will advocate 3 years and even 5-year business plans are needed. The challenge is that most supermarket buyers will not be in place beyond 18 months, and many account managers too.

Action: Agree on the scope of the joint business plan. Divide a page into two, headed up with the scope and then 2 columns; In and Out. Agree on what is in scope, e.g. Discussions that are big picture and what is out of scope, e.g. The day-to-day detail.

3. Naming the Big Project Outcomes is the Key to Success

In our Time Management Training course we talk with the learners about the importance of having a project list and describe the daily to-do list as the wheels of a car, and the project list as the steering wheel. Those without a project list fail to steer towards their KPIs and KRAs , preferring to work on the day-to-day, refusing to acknowledge the big stuff and claiming that they are ‘too busy’.

The same is true of joint business plans and the key is to define the outcome. Instead of writing ‘Promotions Project’, change it to a project outcome title, which could be ‘Promotions Adding Sales of £5m p.a.’. Whilst a subtle change, the difference is that if no traction is made the impact is obvious – £5m lost. Plus, it is less likely that the person will remove the project when the outcome is obvious, and the project owner can genuinely begin with the end in mind – £5m sales to identify.

Making traction on the big projects is essential to see early progress on joint business planning. For each big project, the collaborators need to agree on the first 3 practical and simple actions. These 3 actions will get the project moving. Even if those actions are to get together for 1 hour to brainstorm. Maybe brainstorm how to achieve £5m additional sales from promotions. It is imperative that these debates are not tackled at the Business Planning meeting. This is because it is ‘scope creep’. Which means that it is against the scope that was agreed. Plus, the meeting will achieve very little because too much is trying to be achieved.

Action: Change project titles to project outcomes and agree on the first 3 practical and simple steps for each project.

4. A Simple Dashboard Every 2 Weeks to Keep Things Moving

The experience of most people is that business plans are built with love and sit on a shelf with hate. Their examples have taught them that joint business planning is a necessary evil and ultimately achieves very little.

The brave move is to change your mindset. Get out of the self-fulfilling prophecy, by doing Joint Business Plans differently to the last 10 times. Helping to achieve that is a simple dashboard showing the Category Targets, Category Measures, Enabling Big Projects, Project Milestones, & Ways of Working and most importantly, the progress, with a short commentary. Ideally, on one page, the dashboard is published every 2 weeks. Fortnightly because 1 week is not long enough to see progress and one month is too long if progress is going off-course.

By having a dashboard the joint business plan is kept alive.

Action: Propose a simple dashboard that is to be published every 2 weeks, for the group to approve.

Free Download: JBP Template

Please contact us if you have any questions, 5. reviewing the joint business plan quarterly together.

A smaller team is a brave move. This is because, during the landing of Category Management and ECR in the 90s, the supermarket team and the supplier team would be around 12 people each.

Whilst this was more a demonstration of collaboration and ‘equalling the fight’ than anything else, progress was slow. Nowadays a smaller team can achieve more if they accept that their accountability is to get the information, persuade the other departments, and basically make progress, not being able to cite every other department in their company as the reason for not achieving the required progress.

A smaller team should meet every quarter with the only point on the agenda to discuss the joint business plan. These dates need to be diarised for the full 18 months. Again, the scope is important because the temptation will be to discuss the other 100 issues that need addressing. But bravely accepting that the joint business plan, if delivered, will achieve everyone’s goals, then this is the only topic of discussion.

Beginning with a refresh of what the joint business plan looks like, the agenda should look like this:

• Refresh the joint business plan.
• Ways of Working – Have these been adhered to? What else needs to be done?
• Performance Vs the agreed targets.
• Project progress Vs the agreed milestones.
• Discuss the usefulness of the dashboard, not being tempted to make it too onerous.
• Run through the actions stating what, who and when very clearly and emailed before everyone leaves. Our top tip is to capture actions on email as the meeting progresses. Not afterwards because each one is likely to be re-debated.
• Agree on the date of the next meeting.

Action: Propose dates for the next 18 months and a suggested agenda.

6. Strategic Thinking is the Essential Skill

In the most recent IGD trading survey both suppliers and supermarkets ranked ‘strategic alignment’ and ‘long term planning’ as important now and even more important in the future. The supermarkets said that having these skills was what a supermarket would expect from a ‘best in class’ supplier. Strategic Thinking , as well as being one of those overly used terms and mystifying skills, has now become essential to joint business planning. So much so that job advertisements are asking for applicants to have joint business planning experience. Strategic thinking, strategic planning, and having strategic objectives are about being able to see the big picture, identify insights with high impact and make them happen. The skills of joint business planning are the same, as well as an effective use of some negotiation skills.

The brave move would be to initiate a joint business plan with the supermarket and begin to implement this roadmap to category growth. Action: Read this post on strategic thinking and consider an executive coach to prepare you for your next JBP so that you are the best version of yourself when you negotiate, share your big-picture thoughts and discuss trust.

7. These Critical Meetings are ‘Must Win Meetings’ for Any Supermarket Supplier

Initiating, or being invited to a Joint Business Plan meeting, is pivotal to every supplier because, of course, terms are negotiated and the outcome will have a high impact on the supplier’s annual performance, but also a Joint Business Plan meeting is an opportunity to demonstrate ‘best in class’. Best in class for category understanding, shopper understanding, supermarket understanding, possible solutions, and how to manage these plans to make them work.

For these reasons, the preparation for a must-win meeting must be to achieve the old adage of ‘sweat in training, no need to bleed in battle’. Role plays are an undervalued tool for preparing and for getting the heads-up on those things that could not be predicted and are yet to happen. When millions of pounds can be at stake for one meeting, it pays to be prepared, and ask the experts for help to be the very best version possible.

Action: Book a role play with a suitable colleague/s so that you can sweat in training, or contact us for help. See our Fyffes testimonial for how we supported them.

A Summary of the 7 Brave Moves 

Here is a summary of the 7 brave moves that should be taken in The Brave Approach to Writing a Joint Business Plan with a UK Supermarket because a supplier that does, will be best in class:

• Stating the blindingly obvious – It’s all about trust.
• KISS is the route that succeeds most with joint business plans.
• Naming the Big Project Outcomes is the Key to Success.
• A Simple Dashboard Every 2 Weeks to Keep Things Moving.
• Reviewing the Joint Business Plan Quarterly Together.
• Strategic Thinking is the Essential Skill.
• JBP Meetings are ‘Must Win Meetings’ for Any Supermarket Supplier.

What is your top tip for writing a JBP? Please share your view by commenting at the end of this article.

Creating a JBP that Includes the Required Elements of the Groceries Code Adjudicator 

Only 1 in 2 Suppliers has a written supply agreement according to research by the Groceries Code Adjudicator (Slide 16). A written supply agreement is often a joint business plan. Therefore here is a checklist of often-forgotten items that should form part of the written supply agreement/JBP:

• Payment terms
• Marketing costs, e.g. artwork, packaging, consumer research, or hospitality
• Payments for wastage

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• Cambridge Dictionary +Plus

Translation of business plan – English–Spanish dictionary

Business plan.

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(Translation of business plan from the Cambridge English-Spanish Dictionary © Cambridge University Press)

Examples of business plan

Translations of business plan.

Get a quick, free translation!

Word of the Day

on top of the world

extremely happy

Keeping up appearances (Talking about how things seem)

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Preparing to close your account

Steps to close a bank account.

• Bank account closure tips

How to Close a Bank Account

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• Before closing a bank account, you need to ensure there are no pending transactions and remove your funds.
• Most national and online banks will require you to call or visit a branch to close an account.
• Remember to reroute direct deposit and bill pay to a new account.

The first bank account you open doesn't have to be a permanent fixture in your life. Maybe you're moving somewhere that doesn't have any of your current bank's branches, you've decided to streamline your banking, or you simply found a checking account that's a better fit for you.

Whatever the case may be, you don't have to stay tied to your account forever. Closing a bank account won't negatively impact you in the same way that closing a credit card may affect your credit score . Still, there are specific steps to follow to ensure a smooth account closure.

Ensure all checks have cleared

If you've written or deposited a check, be sure it has cleared before initiating a bank account closure. If you don't, you run the risk of your check bouncing or not receiving funds you are rightly owed.

Find out if the account is in good standing

Banks won't let you close an account if you have a negative balance, so you'll need to assess your current account's standing. Negative balances will require you to put some money in so that you have at least a $0 account balance to close the account.

The standing of your account may affect whether you'll have to pay fees. If you've overdrawn from your account and have a negative balance, you'll be charged an overdraft fee . New accounts that have been opened for a short time — usually less than six months — may be charged an early account closure fee of around $25 or $30.

Create a plan for the money left in your account

Your goal should be to leave your bank account with a $0 account balance to make the closing process more efficient. If there's money left in the account, the bank has the right to use those funds to cover any overdrafts or overdraft fees and will send you a check for any remaining balance.

If you want more immediate access to your funds, transfer them out of the account ahead of time. You'll also want to redirect future bill pay and direct deposit to another account.

Contact your bank

With most banks, you won't be able to initiate the closing process online.

Most national brick-and-mortar banks will require you to go to a branch location or call over the phone first. Online banks will also want you to call.

A few banks will let you initiate the process online. TD Bank lets you close an account through online banking or email if your account has a $0 balance. Axos Bank also allows customers to initiate closure online.

Calling a bank will be enough to close an account in most cases, but some institutions may require you to fill out an additional form or write a quick note. For instance, if you have a joint bank account , you may have to fill out a form or write a note that states both individuals want to close the account.

If you aren't sure what the process is like for your financial institution, try searching through a bank's FAQ section first, then call your bank if you still can't find the information.

Withdraw your balance

If your bank requires a $0 balance to close your account, you'll need to withdraw or transfer the funds to a different account. You can typically do this by visiting an ATM if the amount is under the withdrawal limit . Your bank may also offer the option to receive a check for your balance.

Obtain written confirmation

A bank will verify once your account is closed. This will be done either over the phone, through email, or through online banking.

If your account requires you to pay a monthly bank maintenance fee on the same day each month, try to close the account at least a couple of days before you are charged the fee. This gives you a buffer in case it takes several days to close the account.

Tips for a smooth account closure

Avoid closing accounts with pending transactions.

If you have pending transactions, such as a bill payment or a paycheck, they may not be able to go through once you begin the process of closing your account.

Consider the timing of closing around bill payments

Unless you have already moved the funds from your soon-to-be-closed bank account to a new account and set up online bill pay , avoid initiating an account closure within a few days of important payment due dates, such as rent or loan payments.

Bank account closure FAQs

It depends on the bank or credit union. Some require you to call or make an in-person visit to initiate an account closure. If you have a joint bank account, documentation is needed to close a bank account.

Closing a bank account will not have a negative effect on your credit score if the account is in good standing — meaning any overdrafts and common bank fees are paid.

Bank policies vary. Generally, if the account is in good standing and the funds have been moved elsewhere, your account can be closed immediately. If you're account have a negative balance, you'll have to deposit funds to reach a $0 balance before you engage in steps to terminate a bank account.

You can request a check, withdraw the balance in cash, or transfer the funds to a new account. It's ideal to withdraw funds before account closures. 

There's only a fee if you're closing a bank account right after you've opened it. Generally, you'll have to keep your account open for 60 to 180 days to avoid an early account closure fee.

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