Launch a business from scratch with Joint Ventures (JV). Countless new business owners are launching new businesses using JV alone, proving to be the active element as to why they experienced success in their business. A partnership between two companies with similar assets is simply leveraged by a “joint venture.” When working through JV ventures, it is important to partner with them and not compete with them.
For instance, you may own a vitamin website and then contact the owner of a wellness website. See if you can leverage marketing your vitamins to the customers of their wellness site. They will say either “yes” or “no.” If the answer is “yes,” then it’s worth every effort when you start to build up your back office easily and experience rapid traffic and sales.
Most recently, Ford and GM have created a Joint Venture to develop new transmissions with 9 speeds for front week drive cars. They are jointly developing a new product for both companies and it won’t be in cars until 2016.
Joint venture leadership for small businesses is the perfect solution to maximize marketing potential without much time or up-front cost.
Three major JV benefits include:
- JV leadership equals partner empowerment and is imperative to practice in any joint venture. Manage the other party in a way that will allow them to always be creative and take responsibility for duties. Teamwork is especially important to help your team become the best that they can be and to recognize their potential marketing efforts.
- Creating additional opportunities is another advantage that will come from achieving this type of leadership. New areas and or ideas will come up that you did not know existed whenever you start combining resources with your partner, which will prove to provide a lucrative business route.
- Powers up your marketing return by pooling talent with another company’s customers and resources in order to do business, create advertising value, and make money when business is just getting started. Grow your customer base.
You don’t have to have skills, employees, inventory or other resources when you realize JVs work. If we use existing resources, it can be done very quickly.
Skyrocket to new levels of profitability and performance using Joint Ventures. Leverage your business partnering and hidden assets to optimize sales and profits, access new competencies, and grow your business purpose and vision using joint ventures to access hidden markets. Essentially spawning a new company with the leadership of two joint ventured companies will inject new excitement and energy. For more information on JV partnerships, please contact us. For more information on JV partnerships, contact us.