The Big Deal about Beneficial Partnership Between Two..

First of all, let me start off by explaining what a joint venture is: "A joint venture is a mutually beneficial partnership between two or more parties with complimentary resources." There are several reasons for doing this, but in general a joint venture is quite literally the most powerful and effective form of marketing, positioning and client acquisition on earth, without exception. Typically, the most common example of a "JV" (joint venture) is where a company that has a product, but no customer base, approaches another company that already has a customer-base and market share. Both companies will somehow complement the other (ie. someone selling a new type of CD Burning software could approach the company that actually makes CD Writers about co-marketing or integration).

The company with the product offers a certain commission on each unit sold to the company with the customer list/database. The other company (the one with the customer list) will then promote that product by either endorsing it to their customers, integrating it with its complimentary products/services, or referring customers to it in some other way. This type of arrangement will allow a "nobody" company to reach an enormous amount of customers (and sales!) almost overnight by leveraging the assets of an established, complimentary business. Assets that took that company years and years to build. Joint ventures have almost exclusively been responsible for the world's "fastest" fortunes, and are responsible for literally trillions and trillions of dollars in the United States alone. Joint Ventures are the fastest way to grow your business, expand your market share and reach your customers, period.

You don't need to be a marketing "guru" or be the next "Microsoft" in order to experience massive benefits of partnering with another business. This could be as simple as cross-promoting with a complimentary store-front with brochures (if you're a retailer) - or trading ads in an ezine. Or it could be as involved as integrating your products or services with another company's offering. Either way, if you dismiss joint ventures as being too "far fetched" or complicated (and they're not), then you're missing out on what could be the single most effective strategy you could ever employ in your business.

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