Small Business Resource Power Point Series Joint Ventures
Definition A joint venture is when two or more companies perform a business project together for a set period of time. Join e-mail discussion groups, online forums and newsgroups that deal with joint ventures.
Potential Benefits Joint ventures can save you money when businesses share expenses. Joint ventures can save you time when businesses share the workload.
Benefits cont. Your business could offer new products and services by doing joint ventures. Combining your business with another will make you stronger. This is a good way to beat your competition. Joint ventures can make your sales offer more appealing to customers by offering more products or services.
More Benefits Doing joint ventures with well-known businesses can give your business more credibility. Joint ventures can always lead to profitable partnerships. Look in search engines, newsgroups, and e-mail discussion groups to find businesses also looking for joint ventures.
Finding Partners Find businesses that have the same target audience but are not in direct competition. Look in search engines, newsgroups, and e-mail discussion groups to find businesses also looking for joint ventures. Note on your Web site or e-mail newsletter you are interested in doing joint ventures.
Making the Proposal When proposing a joint venture to another business tell them the benefits. When proposing a joint venture to another business tell them why it would be a win/win situation for both of you.
Making the Proposal cont. When proposing a joint venture to another business give them a compliment about their business. Always use a written contract when doing a joint venture with another business.
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