joint venture marketing
You know that a joint venture is one of the most efficient ways to market your business, but you have no idea how to go about finding prospective partners for your venture. When you search online, you find a wealth of websites devoted solely to matching up companies into harmonious and profitable joint venture partnerships. Should you bite?
While these matching services may seem tempting at the start, there are a few things to consider before committing your company. We have the pros and cons of joint venture matching directories for your consideration.
Benefits of Joint Venture Directories
Websites that are geared to helping you find prospective joint venture partners can offer a number of benefits, including:
- Number of Prospects – Many of these websites act as clearinghouses for companies looking to enter a joint venture, so you may have numerous JV opportunities from which to choose.
- Time Savings – By heading to a website to find a prospective partners, you save the time of pounding the pavement and creating proposals for prospects you locate on your own. Everything is completed from the comfort of your home or office in a time frame that you choose.
- Variety – Companies of all shapes and sizes are attracted to joint venture websites, so you many find a greater diversity in prospects than you would dig up on your own.
While there are a number of potential benefits in heading to a joint venture directory, this approach is not a good fit for all businesses. There are also some disadvantages to resorting to this method of finding a joint venture partner.
Drawbacks of Joint Venture Directories
Although there are many joint venture websites available for your perusal, not all are created equal. In fact, some websites may offer few decent prospects at all. In addition, they may charge you a fee to use their services, leaving you a few dollars poorer – and no closer to finding the profitable joint venture you were hoping for. Here are some of the biggest drawbacks to choosing a directory for locating your joint venture partner:
- Cost – Some directories require you to pay for their services up front before you really know how helpful their services will be.
- Information – Most directories require you to post information about your company for the world to see. If you are not comfortable with this exposure, a joint venture directory may not be the best choice.
- Poor Prospects – If a directory does not effectively screen companies before adding them to their list, you may end up with a list of poor prospects with whom you would rather not get involved.
If you decide to use a joint venture directory to find your next JV partner, make sure you research the directory thoroughly before signing on for their services. This is especially true if you will have to pay money or provide information up front. By taking the time to investigate a directory service before you use it, you will be more likely to find a service that can effectively help you find a profitable joint venture that is a good match for your own company.
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.
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