Joint Venturing can help you to establish your business quickly and help to make it sustainable when you have the right products and services.
This is good for the individuals in that it is more than networking and increases the chances of gaining quantified or qualified clients or customers without you working so hard.
Here are some steps you can take to establish Joint Ventures with individuals that have the same similar and / or common goals to ensure that you maximize your income potential for your business. Before you start, pray for wisdom, knowledge, and understanding from the Most High.
Define the right joint venture partnership you want to have to achieve your expected outcome.
For example if you are a tax preparer, a financial planner maybe an excellent joint venture partnership toward building mutual customer relationships. You would want to consider establishing 10 or more relationships. Keep in mind each joint venture partnership relationship will need to be managed.
Find suitable JV partners.
Write down at least 10 individuals, businesses, and/or organizations that you believe would be a mutual asset to marketing each other's products and services when both of you are interacting with clients and customers in business transactions.
Approach the JV partners you have found with the idea of developing a firm mutual relationship.
Sending a postcard or letter is a great way to gain the attention of your potential JV partner. Pick up the phone and follow up with the potential JV or gatekeeper (receptionist). Finally, pay them a visit. Be prepared for the JV partner to say yes and grant the options that add value to the relationship.
Get your partners to trust you.
Satisfy the customers that the JV partners refer to you. Continue to build on the relationship ethically. When your JV partner’s customers are happy, you will be fulfilled as well.
Practice pitching your JV options and value you can mutually add to both of your businesses.
Scripting your pitch and looking at every possible reason a potential JV partner would want to decline your offer will be key in establishing your relationships.
Develop your standard terms, profit splits, conditions and exit clause that will be applied to your JV deal.
This should be completed prior to attempting to establish your relationship with key JV partners that can help you with growing your business. Your JV Partner Agreement should take into consideration your business needs as well as the JV Partner’s business needs.
Package it all together and launch a successful campaign.
Take all of the elements you have prepared and put it into a nice talking point package. Whether you use Google Workspace Apps, Microsoft Office Software like PowerPoint, or simply print it out, make it a nice and professional presentation.
Learn more about how you can make one-time JV deals into quality and quantify multiple streams of income which produce leads and income continuously and quickly. Schedule your appointment today to learn more:
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