Easy Tips On How To Joint Venture In Business: A Joined Undertaking

Written by on August 17, 2010 - 13 Comments
Categories: Lead Generation Marketing Strategies

Tips on how to joint venture will give you an instant competitive advantage over your competition. There are big companies, universities and governments at all levels based on joint ventures. People in your niche are joint venturing. The people that are doing it are smiling all the way to the bank.

Reasons To Joint Venture: Joint venturing is a combined effort to increase income by working smarter insteadof harder and with minimum expense.

1. Creating a new product can be expensive. Business builders can get around these expensive costs by teaming up with businesses and promoting their products to your customers and subscribers for a percentage of the profits.

2. When you work collectively with businesses that have a large percentage of your target market they can endorse your product or service for a certain amount of profits. The response you receive will be a surprise and you’ll have an immediate  impact on your income potential.

3. If you’re a creditable and trusted business it will be easy to find many companies to joint venture with. By having a combined strategy in venturing together both you and your business partner win in more ways then one. Your customers and contacts have easy access to more quality products and services that are valuable in everyday business building.

4. Joint ventures can increase existing relationships by offering more value. The more you do for your customers and subscribers the more valuable you are to them. The creditability you created will get people to check out products that you know are valuable and work for your target market. It gets your business to be seen in a different light.

Where To Find Potential Joint Venture Partners:

If you’re not already a well established business you’ll need to start using the search engines for potential joint business partners. It’s not very likely a new joint venture will come to you so it’s important you get on the phone and talk to your targeted audience.

There is a free navigation service that you can download in your browser to find information about eash site you visit. You can find any business you consider making a purchase from as well as anyone you might want to joint venture with. The Alexia Toolbar has all the information you need.

You can find how many links pointed to a particular site, how much traffic the site receives as well as the site owners contact information to know which sites are worth your tme and money.

Click on the image and click on toolbar to downloaded it or just enter the keywords or websites in the home page search bar.

How To Create A Joint Venture:

1. A phone call to a potential joint venture partner is seen as more creditable and it’s more difficult to say no to someone you’re talking on the phone with than just a simple email.

2. Offer a free consultation on how they will profit in a joint venture. Explain the benefits of a joint venture to attract like minded business partners so they’ll know how to increase their income and profits. Time is crucial so it’s important to get to the point.

3. Offer them a sample of your product. It’s a great way to get them to want to promote your product to their contacts. People always want to find a valuable resource and get a cut of the additional sales.

4. Get a contract that includes the commission terms and all the things you agreed on. Don’t share your most important strategies until the deal is closed. You don’t want to let just people steal your ideas and profit from it.

By talking to potential joint venture partners ( even your competition ) you can find the perfect product or service to complement yours. They might have a list or access to a market that you don’t. The growth rate for your business can explode because you’re both dealing in related markets. If you’re looking to increase your profits and earning potential in business contact Rick Salas for a free consultation. Work smarter than your competition…not harder


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  • http://www.SueCollier.net Sue Collier

    Hey Rick,

    Great post! I have heard alot about Joint Ventures but not ‘ventured’ into that area of Internet Marketing before.

    You make some great points which I have taken on board!

    Thanks for sharing!

    Sue

  • http://ricksalasblog.com Rick Salas

    I’m glad you could use it Sue. Thanks for the repost.

  • Deb Augur

    Hi Rick, Those are some really great tips on pulling together JVs. More people need to look into doing this as it can move your business forward much faster… and oftentimes it’s much easier than people think.

  • http://coachbillcowan.com Bill Cowan

    Thanks Rick, I’ve been single minded lately and I hope to JV out there in the future. I just hope I don;t wait to long and have to get some gentle pushing from my friends. thanks again.

  • http://ricksalasblog.com Rick Salas

    It sure is easier than people think Deb and there’s a way around all the technical issues.

  • http://ricksalasblog.com Rick Salas

    Thanks for the comment Bill. It really is something to think about and sometimes it works great for you as well as people joining your business.

  • http://abundanceofsecrets4success.com/blog Melodie Kantner

    Thanks for the info on joint ventures. My son does a lot with that but I haven’t done it yet. This information I will refer to in the future.

  • Eddie Espiritu

    This is excellent information. Many people wouldn’t even know where to start if they wanted to do a joint venture. Great content!

  • http://fitting-the-pieces.com/my-big-niche-mistake/ Richard Goutal

    In some ways, working with people in content syndication groups (tribes) can also be a way to meet potential joint venture partners. If you are in a tribe, you have opportunity to see the kind of work another marketer is capable of; in some tribes, a weekly phone call gives you the opportunity to further get to know other marketers, even to the point of discussing possible projects. If you are not in a blogging alliance or tribe, join up! You might want to think of all the extra benefits such as potential JV partners.

  • http://ricksalasblog.com Rick Salas

    Thanks Melodie. I haven’t done it yet either but I plan to some day.

  • http://ricksalasblog.com Rick Salas

    Thanks Eddie, I appreciate that.

  • http://ricksalasblog.com Rick Salas

    Thanks Richard…A tribe is an excellent place to JV although I never really thought about it that much. Great tip. I’m part of TSA and still looking. There are so many ways to find partners in Tribes so it benefits both parties.

  • http://www.yorindawanner.com Yorinda

    Hi Rick,

    great comprehensive article, thank you.

    When I did my coaching course I met my joint venture partner, which is great, because we can coach each other, as well as working on our joint venture, which is developing a new fundraising system.

    To your Success
    Yorinda