Joint ventures are the faster and more efficient to start your business, explode your sales and build your business at the last. Creating relationships JV presents many advantages, for example when your company uses a model of joint venture marketing you have little or no risk to the structure of your business.
You can create new products with other companies and put these products on the market. You can open new markets and to share complete databases of thousands of people and create high profit margins. You know that joint ventures help you become sustainable through all economic cycles, because you become not dependent on a small business loan or credit Bank. Your company does not have to buy debt instruments any or seek venture capital to grow, have explosive sales or open a new market.
Even with all these advantages to create a joint venture alliance, things can go wrong, very wrong if you are just jumping in a JV without first knowing what to do, how they work, or where to learn about the process of the joint venture.
Learn how to make a good JV is the key. Here are 5 blunders ventures that you should avoid if you want to succeed in building your empire of joint venture.
You or your partner has never been a prior joint venture.
Never think that because someone wants to do a JV with you they did in the past with other companies. If you have not made a prior JV, then you must find out first about how to do one properly. There are aspects on profits and the responsibilities of that each partner shares in the JV process you need to know how to do so, so that you are taken step advantage of neither taking advantage.
Not exposing clearly what are the responsibilities of each partner for the project.
Each joint venture partner has some responsibilities for the project of the JV, and may slow the process if there are uncertainties about a company was responsible for this process. It is imperative that both parties understand what is expected of them. This is because everyone involved feeling secure about what their role and what they are to receive as well.
Do not do due diligence to ensure that your partner is a partner of ethics with a quality product.
Your database has built a relationship with you. Your customers and your customers you trust. When a joint venture to make someone may want to sell your database and customers to their product and divide the profits with you. It is a very common JV. Make sure that you protect your customers. Make sure that they receive the real value for their money. Make sure that the product is delivered as indicated in the joint venture agreement. Do not follow such can potentially harm your relationship with your customer database if your database believes that a marginal product delivered to your JV partner.
Too small offering of an agreement
When you do a joint venture you must be a win/win venture. If you try selfish to use the very large database of partner, offering very little value to them, then your partner is probably not step will make the JV with you. You, on the other hand must also take advantage to make it beneficial for you also. Negotiate a fair agreement with your partner and offer what it is that you agreed to in the contract for you and your joint venture partner.
Committing to a long-term risk without the first to build a relationship with your potential partner.
Before entering into a long-term agreement, you have built a relationship and have done your due diligence carefully. Make sure that you understand your ethical partner of work, level of engagement and ethical business. Make sure that you trust your partner integrity level. You must have this before entering a long term business relationship.
When the two companies or parties include how to make a proper joint venture, they can have a profitable company, in the long term, building friendship JV. These are the colleagues who will be with you for 30 years, 15, 20 or even now.
Also, you can join a club of 44d and they will provide you with instructions on how to make an appropriate joint venture. Then, you can choose from the wide range of global entrepreneurs who have learned, are well paid and to wait for the next joint-venture with you. You can feel confident and secure in your ability to be a large joint venture partner.
Vickie Jimenez is the author of "Champagne thoughts and Caviar of the Science of power results-oriented thinking" and has more than 20 years in the field of personal development. She is an expert in mind and personal business performance and management of the work environment. She is a speaker, corporate trainer and the CEO of systems of success seminars. She learns to companies and individuals how to strengthen the accountability and performance through self-command. increase of production, income, culture, sales and career satisfaction. To learn more, visit http://successsystemsnow.com.
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