Be a joint venture partner has many benefits for you and your business. When you enter a JV agreement, you agree to share the points forts, creativity, and the efforts of the prosperity of all parties. However, what are the main benefits of team spirit and collaboration between partners?
Increased revenues
The main objective of forming a joint venture is certainly to increase your income. By sharing resources, your partner and you hope that can meet revenue streams more in one or two ways:
Revenue-sharing - a may be one where the products or services are combined and packaged for sale to customers and clients. More sales and thus more revenue could result in a set of agreements of services or products to you and your joint venture partner. Although you might split a part of the sales, did not consider a smaller percentage of the profits, but a percentage of a lot more large piece of the cake.
New business - your joint venture partnership could use the talents and strengths to increase each of your respective companies. For example, you could share your expertise in graphic design to provide great brochures to your partner, then he gives, you go to manage lists of potential customers. The result of this type of partnership is measured individually rather than combined.
New networks
Your joint venture can lead to new networks of potential business partners and clients, who can benefit your business. It could make your products or services to new channels of customers who otherwise cannot not exist for your business. Find ways to market to your partner mailing lists. Perhaps provide a free sample client regular and faithful to your partner. But don't forget to do the same with your partner. To promote his business to your current customers as well.
Your combined networks can also you can find other ways to improve your business with other joint ventures. You could find other affiliated companies or individuals with strengths that could translate into an other business relationship. This may take time and effort outside your goal of joint-venture, but the business of your partner contacts sharing can be beneficial as well. Simply be sure step to steal or sour any business for your joint venture partner relationship.
Example Joint Venture: save money and the increase in Clients
For example, John was a freelance writer who found that he could provide writing services to associated spouse, Michael, in exchange for free web company that Michael has provided accommodation. While working with Michael, John was introduced to Joyce, who was a CPA and conducted Michael accounting. John approached Joyce in a similar way and offered his editorial and promotional services in exchange for tax advice for his freelance business. Joyce agreed, and the result was undertaken increased for Michael, and Joyce, while John saved lots of money on web services and accounting.
Save time and money
Your joint venture is a way to combine efforts and resources. In doing so, you could save money on your own marketing budget if you share marketing expenses. And you can save time by sharing tasks required with your joint venture partner. Freeing up your time and your money to focus on other ways to develop your business, or even to spend more time with family, may be one of the best benefits you will enjoy.
Copyright (c) 2009 Christian Fea
Christian Fea is CEO of Synertegic, Inc.. A Joint-Venture Marketing company. It illustrates how to take advantage of Joint-Venture relationships by establishing centres of profit with minimal risk and maximum profitability. To discover the only joint venture Marketing strategies more to join its free JV wealth e-zine.
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