While joint ventures (JVs) can be a good strategic move for all businesses, they are particularly beneficial for entrepreneurs. A business may enter a joint venture if they are entering a new market place or geographical region. A joint venture will help take it to a new plateau.
The relationship between joint ventures and entrepreneurs is much different. An entrepreneur typically starts out with an innovative idea, Continue reading →
Whether you are starting out as an entrepreneur or have a successful business already, you know the importance of you clientele and growing your customer base. Sometimes it can be difficult to design and market new products and ideas on your own, especially if you are just starting out. One solution to this dilemma is Joint Ventures (JV). A joint venture is a business agreement between two parties with the intent to achieve a common goal.
Resellers are an important part of growing a business. Without partners, most businesses will simply start to stay in place without any real growth. In order to avoid this, it is important to open up the channels of distribution.
In the world of business there are many benefits to producing products as Value Added Resellers (VAR). In the computer industry, a company that makes the hardware can increase the value of their product, if they offer a specific type of software as standard on the computers they make. The computer maker and the software creator work together to provide a new and more valuable product.
Although many businesses focus on outperforming competitors by taking advantage of their competitive advantages, many would actually benefit by forming a strategic alliance and turning their competitor into their business partner. While it may not be the most conventional approach, businesses have figured out that in some situations it’s better to focus on growing the entire market, rather than fight for the largest market share of a small market.