Here’s advantages of joint venture and how to joint venture. Joint venture agreements can be profitable. Here are some tricks to increase business profits now.
What is a joint venture and why does it help? Firstly you can achieve common goals with other businesses by leveraging existing resource. Everything you need is already available. You don’t need to spend your resource to go get it. All JVs do is leverage common goals in a win – win way.
What you need is already available. A lot of small business people think they need to go it alone. But what you need is already out there it is about working together and understanding that together with other businesses you can do amazing things.
The main advantages of joint venture agreements is that you can do your marketing with no list and no money. 20% of large companies like Sony and Pfizer’s income comes from joint ventures and 50% of that comes from their competition. So joint ventures are nothing new for big business.
But many small business owners – if they understood how to do JVs – could get over the misconceptions that running a business takes a lot of time and money. There is an alternative to building a business the slow hard way and that is to learn how to strike up strategic alliances with other businesses. Another bonus for business owners and a reason to JV is your failure rate will drop dramatically.
Small business has about a 87% failure rate, but if you learn how to do JVs you can reduce that dramatically.
The Power Of Working With Your Competition
Scarcity or abundance? Many new business owners are scared to work with their competition but working with others instead of against is the way people with abundance mentality create abundance. There is more than enough business for everybody.
You will find that working with your competition will increase the value you provide to your customers and increase profits.
You can do JVs with no money, no risk, no capital investment and with a fast turn around with %100 income potential. That is among the top advantages of join venture agreements. Typically there is no cost of sales and it is usually done in a very short amount of time. You also have unlimited income potential because you are not trading your time directly for money.
Let’s say you worked as a consultant. Well a consultant only can work so many hours a day. So there is a limit on the income potential.
When your not selling time you can duplicate and leverage. Also your not limited to one particular business ether. To make it even better anyone regardless of age, background, education and immediate start doing business once they know how to joint venture.
Some Of The Most Common Mistakes
Ego can stop you. Join ventures are all about solving other people’s problems so it doesn’t matter than your #1 in the world in something.
Joint ventures are about solving problems. It is about finding businesses who want to be somewhere and building a bridge to helping them get there. Helping other businesses owners to remove the pain in their lives. And then you are like a tollgate on the bridge and you collect a piece of the action.
Joint ventures are typically commission based so there is no need to worry about getting in a situation where you are over extending yourself.
An Example Of A Joint Venture
There is a story of a chiropractor turned who turned a joint venture in the in the mulch market into $300,000 in the first year.
What he lived in a national forest area and he discovered that pine needles that fell from trees was very good for fertilizer. So he struck a deal with a trucking firm to put up the needles for him for a shared percentage of the revenue. Then he struck up another real with a person who owned an old used car lot that was empty to let him use it as storage for a percentage of the reevenue he would make.
Then he went to the national part services and under bid their current fertilizer supplier and sold his needles for a good chunk of change.
It is an example of how thinking outside the box can make you some real money.
How To Join Venture – Experience The Advantages Of Join Venture Agreements
Find people with related products or services and find out what they need. Then fulfill that need in exchange for them promoting your product to their customer database for a percentage of the revenue.
If you want to sell more products you need traffic. The fastest way to drive traffic is not to generate it yourself but to get it from people who have it. So go to people who have the traffic and strike a deal. But here are some key points to remember.
The person who controls the traffic is the person with all authority
It has to be a good fit for them. It is important to understand that it is not a hobby for them. It is their life. It is their livelihood. You need to make sure you are professional and you have a professional system that works. It needs to be organized because other people want to promote companies that are professional and reliable.
Everybody has a price
While they might so no initially you want to provide more and more and more until it becomes a good offer. If someone said no it is simply because your offer is not good enough (your price was too low or you are not providing enough value). If that is the case you want to offer more than everyone else is offering but make sure you can afford to pay the price (don’t need to do %400) commission. You can simply provide value to them in by helping them solve their needs.
For example you could create some content for them for their membership site. Anything really. It is about finding what they want and then giving it to them. If you do create content for other people get shared ownership so you can put it in your membership site.
Develop A Relationship
The best way to JV is to have a relationship or develop a relationship with other individuals or companies in the market. Leave comments on their blog, send them a message on twitter, buy their product or even try to get an interview with them. You can contact them through support with questions and continue to deepen the relationship.
The goal with the relationship is to make it so that at least see your JV request. And even deeper people are more likely to work with people they know, like and trust. So these are goals as well. But if you do not already know the company or people you want to JV with the real step is to try to develop a relationship at least a bit so you can get them to open and consider your JV request before it gets filtered away.
Return to Top Of Advantages Of Joint Venture – How To Joint Venture