Joint Venture - What is is?

There is an old adage, "if you cant beat 'em, join 'em. This in essence is the nature of a joint venture. Joint Ventures are simply a way to significantly increasing your market reach. 

Think of it this way, whatever business your in at the moment you have a client base, or database of clients. Say for argument sake you have a good qualified database of 1000 clients. To increase business revenue, most companies would turn to advertising. But think about it for a second. 

Ask yourself one question. 

what do my costumers need, that I can't provide for them?

When you find the answer, go and find a great company in your area, who can supply your customers. and simply ask for a referral fee.

The added bonus to this is of course, is that the very same company may be able to introduce your business to their client. You would then reciprocate, by offering them a referral fee.

In business terms, a Joint Venture is a mutual business alliance to firstly increase each others client bases. The second beneficial objective could be to enable the 2 companies to join forces to penetrate markets they couldn't consider before. Larger markets or international markets.

For more information please feel free to contact me - andy@businessforlife.co.uk