joint venture marketing Small businesses in 2009 are struggling to keep a footing on the treacherous economic cliff face ahead of them. Most are taking the solo route and trudging through the mire of economic slump by themselves. And yet, others are finding a happier and easier road to wading through tough economic times, and
joint venture marketing
Small businesses in 2009 are struggling to keep a footing on the treacherous economic cliff face ahead of them. Most are taking the solo route and trudging through the mire of economic slump by themselves. And yet, others are finding a happier and easier road to wading through tough economic times, and even finding better success than going solo by joining forces and forming a joint venture.
A JV with a complementary partner is a great business strategy for increasing revenue and sharing resources. But there are many reasons to join up and form a JV. If you haven’t formed a joint venture yet, here are some ideas that could spark your business back to life:
Merge or Acquire Marketing Contacts and Expertise
Marketing is the lifeblood of a business. Without letting your customers know about your service or product, you are not much in business. While you may have a solid base of marketing contacts and a reasonable customer list, will it sustain you through the tough economic climate when clients are spending less?
With a bright new joint venture endeavor, you could combine your marketing list and expertise with your JV partner. Marketing requires creativity and time to establish a marketing base and know how to reach customers. You can expand your potential market not only by combining contacts, but alto penetrating into new markets with your new JV product or service.
Share Unique Skills
Everybody is an expert at something, and nobody is great at everything. You may be a keen and creative marketer, but have no mind for the accounting and administrative management of a business. Your JV partner may complement your skills and offer a great way to solve many business problems.
Accelerate Your Revenue Growth
A stagnate revenue stream can get a boost with a combined JV effort. Form a joint venture and get a business plan and strategy in motion. Your combined markets and resources can help jump start your income and even decrease your expenses. Find a JV partner whose services or products compliment yours and will appeal to your combined customers.
Accelerate a Business Concept to Market
Can it be true that two heads are better than one? If you and a worthy JV partner can formulate a JV with a new niche in an untapped market, you may find that you’re combined efforts results in a new source of revenue. You might design a new combination of your products, or a new product altogether, that is in high demand. With a concentrated effort, you and your JV partner can get meet that market need and enjoy the financial results.
The business world can be a scary place in times of economic depressions. Don’t face it alone. Get help with a worthy JV partner and discover your potential for joint riches.
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.