joint venture marketing
Though it may be common sense to most, some entrepreneurs and small business owners tend to forget that their time is valuable. Why do so many waste time performing administrative activities or mundane tasks that do not fully utilize their talents and skills as a salesperson or business producer?
So often we complain about having too little time to do everything we need to do in order to make our business grow, or that we don’t have enough money to do the proper advertising. However, in actuality, we may be inefficiently allocating time and money resources that are available to us.
Joint Venture Saves the Day – and Your Time
A joint venture approach to time and money efficiency can be a business lifesaver, if not a Midas touch to great wealth. A joint venture with the right partner can help you both combine resources and utilize time, money, distribution, technology, customer access, special skills, and other resources, more efficiently. In essence, you and your joint venture partner share the risk involved with a business venture, but leverage the strengths of the other for mutual financial benefit.
When you have a reliable joint venture partner working in alliance on a business project, you have more time to make your own business grow. You have more time to hire reliable employees, more time to train current employees, more time to sell, more time to negotiate deals and more time to create additional joint ventures. You get the picture.
Your expertise as an entrepreneur is the capital that keeps your business afloat. If you want your business to continue its success, you need to find ways to leverage your time in the most efficient moneymaking way. Why are you spending hours doing $10 an hour bookkeeping work when you could hire that out or leverage the accounting system of your joint venture partner? If your time could be better spent creating development ideas and revenue streams that are worth $500 an hour, isn’t spending your time most profitably a better idea?
How to Brainstorm a Joint Venture Endeavor
Approach a joint venture with the following thoughts:
- How can I form a joint venture that saves me time and money?
- How can I leverage the resources of a potential joint venture partner?
- How can I add value to a joint venture partner so we both profit financially?
If you find that you are spending more time in the back room than in front of customers or clients, it may be the perfect opportunity for you to form a joint venture to free up resources. Use your entrepreneurial skills and creativity and approach a potential partner with a moneymaking proposal. A successful joint venture can unload a burden from your business operations that will lead to bigger sales and more time for you to manage your business.
christian fea is CEO of Synertegic, Inc. A joint venture marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.
To discover more joint venture marketing Strategies join his free joint venture marketing Wealth Report.