What are your areas of expertise? What business processes speak you? What is you have developed a new and useful product? When form you a joint venture, you must bring your strengths to the table and find a way to take advantage of these assets with your partner in joint venture for the benefit of both parties.
A joint venture may result in changes to your own business, or to require you to build on resources, you already have in place to make a success of the company. However, it is important to have a strong strategy and know where your strengths can better be used before taking such a partnership.
Disney breaks into Russia through joint ventures
You want to break into new markets? Here is an example where the Walt Disney Company has used its marketing assets to form a joint venture with a Media Holdings Limited. Media-One is a major broadcaster in Russia, which owns and operates 30 television stations across the country. Disney has proposed a joint venture with Media-One to launch a television channel of the Disney brand broadcasted in Russia.
Disney has offered to use marketing, responsible for the content and programming to design a family-oriented channel. Disney would also provide money cash and acquisition of a 49% stake in the business support. Media-One would hold a majority share and benefit from the Disney brand and experience of the media.
As a result, Media-one knowledge and operational experience in Russia, the broadcasting station and expertise of advertising sales portfolio created a unique family entertainment channel that plans to launch in 2009 with great success.
The objective of this joint venture was to become the most popular free TV to children and families in Russia and create an important and profitable advertising sales revenue source. The strength of the brand and the exceptional capabilities of programs of Disney will be able to make a success.
MOM and Pop to conglomerates Disney stores: joint ventures work
Your forces combined in a joint venture may very well increase your productivity, help your business grow faster and produce more. Choose the right partner can be the key to the success of the company. In the example above, Disney has chosen the leader of the Russian television broadcasting to ensure that the proposed channel would reach larger markets. This does not mean that you try to form joint ventures with only Fortune 500 companies. However, you must take a blow of eye to the success of your potential partner.
A JV partner should complement your strengths as well. The two of you reach completely different markets? Each of your products or services is well together? Your best chance at a successful joint venture is one where both parties can offer something for others resulting in financial rewards for all.
Joint ventures are not a means for a party depends on the other to do the job. Make sure that you are willing to share your expertise and your time and ensure that your potential partner is willing to do the same. With combined forces, your equation of joint venture could certainly be 1 + 1 = greater than 2.
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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