How to Joint Venture and Qualify a Strategic Alliance Partner

Joint venture marketing is perhaps one of the most lucrative marketing strategies you can use immediately to build relationships, share knowledge, consolidate resources and make money. Use of a proper strategy, in conjunction with project management skills is a potent formula that, when done correctly, will help you accelerate growth as opposed to trying to do things on your own.

Essentially, in a JV Plan your company resources are consolidated with another (or multiple) companies by where "through consolidation of resources" all parties have a chance to share in the benefits derived from the venture. As was stated earlier, we have found joint ventures to be one of the most overlooked and under utilized marketing strategies you can use, regardless of business type. .

For example, your business may have a wonderful product or service, but is lacking access to the proper audience (or an email list) that would benefit enormously, from your product or service. So, it behooves you to understand just how important joint ventures are. A likely joint venture partner would have a client list that gives you access to new client who buy you product the list owner.

Together, the consolidation of resources are galvanized to achieve strategic goals and objectives for all participating partners. That being said, there is more to joint venture marketing than simply Googling potential business partners who claim to have just the contact list you are lacking. Consider the building blocks of the business relationship with your potential joint venture partners.

Sending a letter of intent to a potential JV partner found solely on the Internet, without any personal interaction, could actually work against you.The Internet is full of scams looking for great products to steal from unwary "business partners."

Do the following: First, learn from people who have your best interest in mind without taking an initial big risk. Please know, that's not to say that personal and business relationships can't be built over the Web. You can join forums where other members know about potential business partners in the joint venture space.

Sometimes, these exact same people will even seek out peers to find partners for you. We do that too. The fact is your peers (and people within your business circle) are an excellent source to inquire about a potential joint venture partners. After all, a business peer is usually someone you can trust. Trust is essential to any joint venture.

Once you find a partner who has the right contacts for you to market your business, you will find that you are consolidating knowledge as your business relationship grows. Your marketing expertise will grow exponentially and you will be able to laser-beam in on the precise market(s) that want and need your products and services.

On the flip side, your business may possess invaluable knowledge that could be used by another firm that would benefit from your contacts. So, know it's a two-way street. Your customer list is a potential asset to your company and the joint venture partners. Oftentimes, this list can be used in ways to generate revenue streams that did not exist before. More than likely your company maintains a database of who buys your products and who you would likely buy your products, both now and in the future.

It is highly probable that another business would like to market to your customers. We're not talking about your competition; but another product or service your potential partner would be interested in.

Know this: Consolidating resources is perhaps one of the fastest ways to launch a new business and grow an existing business; hands down!

When you are the owner of the customer list, the trust is inherent. To a certain extent, a trusting relationship has already been established, because you provide a product or service that may be needed by the list owner's clients. That is at the heart of an online JV.

This must also be kept in mind should you choose to joint venture your customer list with another business. That partnering company must be able to build a trust relationship with your customers and must not harm the relationship you have cultivated. Your company could simply recommend a useful product or service that is complimentary to the product already being sold.

Perhaps a joint venture partner has developed software that enhances a product your company has sold in the past. That (in many cases) would be an ideal situation. Not only does the software enhance the experience with your business' offering, it creates a bond where both are needed to get the most out of the products.

Remember, when executed correctly, a well planned joint venture can be a very lucrative way to get your products to other businesses' customers, and build business relationships that will last as long as the parties believe they are in a win-win situation that complements each other.

Finally, it's important to avoid the most commonly made mistakes when attempting such a venture.

Contact us at http://www.coprofit.com for further information.

Michael G Perry is the president of Coprofit, a Las Vegas based Joint Venture Firm.

http://www.coprofit.com

After You - Joint Venture Strategies With the Other Guy In Mind

As an entrepreneur and business owner, it's a given that you are constantly thinking of ways to grow your business and increase your profits. Joint venturing is a great way to do just that. However, many times business owners approach the concept of the joint venture with a "what's in it for me attitude," as opposed to taking a look at what's in it for the potential joint venture partner.

Approaching a joint venture opportunity from this other person's perspective can be a great way to open doors for future joint venture opportunities. Your ability to successfully expose your joint venture partner's product or service to your network makes you a valuable asset to their company. Combine that with word-of-mouth marketing, and you will have other companies coming to you to propose joint venture ideas. So think about providing "the other guy" with a fantastic joint venture experience, knowing that your efforts on the front end will reap great rewards down the road.

Once you've proven yourself in several situations, you may find that more opportunities for larger joint ventures come your way. Successful people tend to create more success. Joint ventures are intended to create marketing synergies that allow monies, ideas, and market share to grow. The more valuable you are in creating a winning joint venture for your partners, the more valuable you'll be when it comes time for future joint ventures. Think about what you can bring to the table and how you can best benefit your joint venture partners.

For instance, one small business owner recognized that there was a product that would do very well in salon, and that the product was not being offered by any other salon in the region. She researched the market and put together a proposal. In her proposal, she showed how she would take the time to introduce the product to the salon's clients, since she was aware that the salon owner had no time to promote additional products.

She then showed how the salon could make anywhere from an additional $300 - $1000 per week, simply by making a strong product introduction and then capitalizing on the reorders. Her role would be to introduce the product, and share in the revenue generated. The salon's job would be to give her access to the customers and then help to promote the re-orders via the internet. The salon owner loved the idea. They started the venture with the understanding that the feedback from the customers would ultimately be the deciding factor. The customers loved the product, the salon owner saw a profit, and the business owner increased her market share and profit. It was a win-win all the way around. Of course, other businesses have now contacted the small business owner about the product and are looking to see if there are other products she might be able to bring to the table on behalf of their businesses.

In the scenario above, the small business owner took the risk of giving time and the initiative of approaching another business owner. She looked to see how it could benefit the other business first. Needless to say, there is a strong on-going relationship between the salon owner and the small businesswoman. Think about the benefit to your potential joint venture partner, put together an operating strategy, and reap the mutual rewards.

Copyright (c) 2008 Christian Fea

Christian Fea is CEO of Synertegic, Inc. A strategic Collaboration Marketing consulting firm. He empowers business owners to discover how to implement Integration, Alliance, and Joint Ventures marketing tactics to solve their specific business challenges. He demonstrates how you can create your own Collaboration Marketing Strategy to increase your new sales, conversation rates, and repeat business. He can be reached at christian@christianfea.com - http://www.christianfea.com

Benefits of Joint Venture Marketing

The term Joint Venture or JV is one that is being thrown around a lot online nowadays but having read many books written by so called Joint Venture experts it becomes obvious that most people are missing the full extent to which JV's can be used to add profit to a business. Most of these experts will tell you that a joint venture is when one company mails an offer to their customer database promoting the product or services of another company and receives a commission for any sales that result. This form of JV is also known as a host-beneficiary offer, a phrase coined by Jay Abraham.

In reality Joint venture marketing can be so much more. A joint venture is any marketing promotion that involves 2 or more organisations for mutual gain. If you were to walk in to any McDonalds store today you would find multiple JV's in action. Take a look at their kids' meal and you will probably find a toy from a company looking to promote their toy brand or latest movie.

When you expand your thinking you instantly expand your opportunities to profit from JV's.

Lets look at a few of the benefits you can enjoy by including joint venture marketing tactics into your marketing mix.

1. You can set up Joint Ventures to get more customers. Customers who are already presold on the benefits of your company so they only want to buy from you. When your JV partner endorses and promotes your product or service to people who know and trust their business you get instant customers who want to buy from you.

2. Joint Ventures can be used to tap in to thousands, possibly even millions of dollars of other peoples advertising capital. Your JV partner has invested a fortune into his/her business to obtain the customer following they have. When they promote your business to their database you get instant access to that valuable investment.

3. The right JV will add additional revenue streams to your business requiring no additional work or investment on your part. You can promote your joint venture partners services to your database and get paid a percentage of the sales generated. The money you earn is pure profit from day 1.

4. JV's allow your business to leverage off the resources of other organisations.

5. JV's let you capitalize on your businesses hidden assets.

6. Your business gains credibility in the eyes of the customer when you are associated with well respected businesses.

7. You can grow your business significantly without spending a single cent on traditional advertising.

8. You gain greater control over customers purchasing habits allowing you to control your businesses downtimes.

9. JV relationships are a great way to separate yourself from the competition and establish your business as a market leader. The most powerful leg up you can give your business is to do something totally different because when your business is unique then by definition there is no competition!

10. JV's can be used to encourage your customers to spend more money - more often.

11. Low cost advertising. Traditional advertising can be expensive. Joint venture marketing can save you that expense by letting you promote your business for FREE.

12. Fast, effective, results driven advertising. Joint venture marketing is a direct response marketing method, which drives immediate results.

13. Wholesale Advertising. Cash is the only form of trade in traditional advertising but joint venture marketing lets you give away samples of your product or service to get new customers so your only cost is the wholesale value.

14. Increase profit by creating an 'Incredible experience' which drives referrals and word of mouth advertising. Giving away gifts and running generous promotions gets people talking, and recommending your business, another FREE advertising method!

15. Increase customer loyalty dramatically. Customers will generally remain loyal to businesses that treat them well and give massive value.

16. Decrease your customer acquisition cost. Joint venture marketing gets new customers to your business at a fraction of the cost you'd expect to pay in traditional advertising.

These are just a few of the benefits.... they're endless!

If you would like to arrange some Joint Ventures to promote business you should take out a FREE listing with 1000legs.com. This online networking site will help you connect with potential JV partners. Go to http://www.1000legs.com For an in depth look at the various JV strategies you can employ to promote your business I highly recommend the book The 3 Way Win. Go to [http://www.the3waywin.com/marketingproducts.ag.php] for more information.

Proposing a Joint Venture Offer that Cannot Be Refused

Joint ventures are an excellent strategy for increasing your market reach and overall revenues. However, the question is, how can you entice a prospective partner to join you in a lucrative joint venture? Not everyone can see the big picture quite as vividly as you can ' and therefore, it is important to employ strategies to make sure you both are on the same page of excitement.

Increasing the value of the partnership

There is only one bottom line to attracting a joint venture partner: provide significant benefits. Of course, this is easier said than done, and therefore, there are several strategies you can take to enhance the lure of your joint venture proposal.

- Craft your proposal with only the partner's perspective in mind. You already know what the joint venture will bring to your benefit, so there is no need to re-hash this information in your offer. Instead, your proposal should truly focus on how your potential partner can benefit significantly from this joint venture.

- Clearly outline all of the benefits. What seems obvious to you may not be apparent to your potential partner. Being too clear is never a flaw, but vagueness is always a fallacy. Make sure that you specifically highlight all of the benefits to your potential partner, whether tangible or intangible. Of course, the partner will gain additional sales and revenues, but what about the intangibles, such as increased branding, new market segments, and free exposure to a target audience? The revenue benefits may not be seen immediately, but certainly offer long-term benefits.

- Make your offer standout from the competitors. Chances are that if you are approaching a potentially lucrative partner for joint venture purposes, then other companies are doing the same thing too. Making your joint venture enticing means standing out from the crowd. If you are willing to provide your potential partner with a higher commission than the industry standard, then make sure to mention that first. This will attract their attention, motivating them to read through your entire proposal and absorb the benefits.

- Be exclusive. If you have joint ventures with anyone and everyone, then the most lucrative potential partners will not be enticed. Why would they want to joint venture with you when your partnerships are already saturated? Make sure that your joint venture proposal feels exclusive, and you can discuss the reasons why this proposal is unlike the others already out on the table.

- Demonstrate your understanding of both lists. When you show your potential partner that you have a full understanding of both your customer bases, this demonstrates that you fully understanding the prospects of the joint venture. Point out both why and how your customer list benefits the joint ventures endeavors. The more specific you can get, the more enticing the offer is.

Joint ventures go above and beyond the standard affiliate marketing. Typically, joint ventures can offer significant rewards for both parties that supersede the affiliate relationship. Subsequently, the work you put into enticing your ideal partner will be worth the payoff in the end.

Copyright (c) 2008 Christian Fea

Christian Fea is CEO of Synertegic, Inc. A Strategic Collaboration Marketing consulting firm. He empowers business owners to discover and implement Integration, Alliance, and Joint Venture marketing tactics to solve specific business challenges. He demonstrates how to create your own Collaboration Marketing Strategy to increase your sales, conversation rates, and repeat business. Contact: christian@christianfea.com
http://www.christianfea.com

The Benefits Of Joint Ventures

For those who have been involved in Internet marketing for a long time, the benefits of joint ventures are pretty well known. But if you're first starting out, you may not know why or even if you should get involved in a joint venture. Well, the answer is a resounding YES. In this article, I'm going to point out just a few of the many benefits of a joint venture. After you're finished reading this, you'll want to get out there and find yourself one of these as quickly as possible.

The most obvious benefit of a joint venture is that you don't have to do all the work. While each joint venture is different, for the most part, the work is pretty much divided down the middle if it's a true joint venture. So maybe one person will work on creating the web page and graphics while the other person will work on the sales copy. Maybe one person has a large list to market to while the other person has the technical skills needed to create the product itself. In a true joint venture, both sides share an equal part of the burden of getting the venture off the ground. This means less work for both parties.

Another benefit of a joint venture is obviously the money to be made from a successful one. Yes, it is true that in a true joint venture, the profits are going to be split right down the middle, but the potential for larger profit is much greater with a joint venture. The reason is simply because when you have two forces joined together, you have the advertising efforts of both parties going at once. You're bound to reach more people and thus make more sales.

While this all sounds well and good, you're probably asking "How do I get a joint venture?" Well, unfortunately, that isn't always the easy part. Human nature being what it is, both sides are going to want to know that they're bringing equal parts to the table. This is why it's very hard for a new marketer to approach an established veteran for a joint venture. The seasoned pro is going to want to know what's in it for him. Unless you've got a really dynamite product, or are a crackerjack developer of software, you're going to have a difficult time convincing a potential partner who is already making a good living online to give you a shot.

Having said that, there is an old saying, "Nothing ventured, nothing gained." Even if you think you have absolutely no chance of landing a joint venture with a big shot online, a professionally written letter and a confident approach may just land you that joint venture. Why? Because the successful marketers online know that they have to constantly be on the lookout for new products in order to stay ahead of the game. This gives you a decent shot at being the next person to capture that marketer's attention.

A joint venture is a marketer's dream come true. Do whatever you can, within the bounds of the law and good taste, to get one.

If you're just starting out in the niche marketing world or perhaps just not achieving the results you want, you should consider popping along to the Cash Sense site and having a look at my free five part mini course, you can find your FREE Mini Course Here [http://www.Cash-Sense.com/signup9.asp?affid=ezine2] Failing that why not go straight for the kill and get Cash Sense [http://www.Cash-Sense.com/products.asp?affid=ezine2]

Joint Ventures - How To Make Money With Joint Ventures

No other form of marketing is quite as powerful as using

joint ventures. Joint ventures are nothing more than two or more like minded

businesses working together to endorse and profit from each

others products. The truly successful internet marketers use joint ventures

as their number one way of generating a huge monthly income

and you can do the same thing.

In order to start using joint ventures for your own business

you will need to have your own product. The best type of product to do joint ventures with is simple information products in the form of ebooks. You will want to put together a top quality product in order to attract partners to do your joint ventures with. A product with a higher price point and higher pay out will always pull in more joint ventures than a low cost product.

Another thing you will want to do is give away a large portion

of the profits to your joint venture partners. A good starting point is to pay out a minimum of 50%. Most good joint ventures pay out 60%-90% as it is important to remember that the real profits from doing joint ventures are in the customer list and back end promotions.

In order to find partners to do joint ventures with, you will want to search for others who have similar products like yours. Not exactly like your but related to your topic. Once you find a few potential partners, you should send them a short email letting them know a little bit about who you are and why you are contacting them.

Also include a free copy of the product for your potential

joint venture partners to review.

You can use joint ventures to quickly boost your profits

and build a solid customer list very quickly if you are

persistent.

Download My Free Report: "Simple Little Known Ways To Make Money On The Internet That Work!" http://www.opportunity-advisor.com

Gary Will Show You Real Ways To Make Money On The Internet That Work, As Well As His Latest Money Making Ideas, And Hot New Information Products.

Get his free report right now! http://www.opportunity-advisor.com

Enter Into Joint Ventures With Caution

A joint venture, or JV, is the name for the entity created when two companies or individuals create a mutually beneficial partnership. Joint ventures can be a great means for small businesses to gain market share or increase their skills and services. In order to create a successful JV, however, there are a few things to keep in mind.

A joint venture entered into without research or caution is setting itself up for failure. If both parties don't take the process seriously they could lose valuable time and money, or worse destroy their business. To avoid these pitfalls, there are several things one can consider: choose your partner carefully, make sure you share a common goal and above all, stay organized.

The choice of partner is the most vital part of starting a JV. You should know the person well enough to have confidence in them and to know whether they are trustworthy. There are plenty of fast talkers out there who are eager to separate a fool from his money. As with everything else in life, if it sounds too good to be true, it probably is.

It's best to find out as much as you can about any partner candidates you're considering. Look up information about them online and ask them for references and a detailed resume.

Knowing as much as you can about your partner is important, but it can be detrimental to enter into a business agreement with a close friend or loved one. If the JV were to fail, you could lose a valuable relationship along with your business. It can also be tempting to cut corners if you're working with a friend. It can be awkward to write out a binding legal contract that outlines both of your responsibilities when you would rather just trust the person to uphold his or her end of the deal. If you give in to this temptation, it might turn out that you never had the same long-term vision of the JV at all, and it can turn into a disappointment for all involved.

Just like in a marriage, it's good to look for a partner that balances your prominent traits. Maybe you're good at keeping financial records, but you have trouble thinking of creative marketing campaigns. Look for a partner who can add some pizzazz to your joint venture. In turn, she might not be the best bookkeeper, so your skill set will compliment hers as well.

Determining that both you and your JV partner share a common vision is another important aspect. To reach a particular goal together, you must both know what the goal is and understand how you're going to get there. If your partner believes the goal of the JV is to grow the business to a very large one, and you believe the goal is to keep the business small so you can run it on the side, you're not very likely to work well together. You can't possibly reach both your and your partner's goals because they conflict!

Good organization can help ensure that your and your partner's visions match. To begin, create a business plan that clearly defines what you want to achieve and when you expect to achieve it. The plan also explains who will bring which assets and skills to the table.

As much as you might want to keep your partnership friendly, you must create a formal, binding contract. This document will keep everyone on safe legal footing if their responsibilities are called into question.

Time management is also a must when going into business with someone else. It's important to know your limits and not to bite off more than you can chew. Starting a joint venture can be stressful, and you won't be able to do everything at once. Take your time and complete one project at a time, and everyone will be much better off. Make sure your life can allow for the additional stress of a joint venture before signing any agreements with a partner.

With the right partner, shared goals, and clear organization, a joint venture can be one of the best means of increasing your company's size, skills, and customer base. Just make sure you spend time learning everything you can about how the joint venture will work for you, who your partner is, and how you can reach your goals together.

Lazy Internet Marketing (Justins Website) is our recommended resource for Internet Marketing including Joint Venture training on the Internet. To learn more about Joint Ventures try: http://www.lazy-internet-marketing.com/bm/joint-ventures.ag.php