Joint ventures are considered an essential part of business growth and success. However, many people look at EP as an idea or overwhelming fear. If you follow a few steps and have some preparations together then you can proceed with confidence.
First, before approaching someone, is your business established and who knows what he wants to do a joint venture. Many people who approaches you can receive several offers, so preparation is key.
Then decide what you want to have JV with. If you are unsure, you can do some research to help you find a few people as possible. Details of the search can be an item in your car, but to emphasize that you can:
See what your business is, what other businesses that complement yours. Then search the web for them. You can also ask in the forums and newsgroups and ask for references. Once this is done carefully, taking a handful who would like to try.
Look at their web sites. Ask yourself, what is in them that I like and why would I want to do business with them. What about your site stands out for me and that I could comment.
Is there a report or a course that could try to get to know them better. Is there a product I can try? Is this the right person for my venture? When you understand the other person, not only will help you reach them, will also be able to know if I could actually recommend to your list.
Then decide which one you want to work. Now you can approach them. Think about what your goal is for the joint venture. Yes, there are the thousands of dollars it can provide free publicity and use of other resources, but what is the ultimate goal for each joint venture.
What would be your response when the potential JV partners says, "So what you have in mind?" Is this joint venture on writing and promoting a book, from a competition, creating a product or share advertising costs, just to name a few.
While you are thinking about your answer, you need to realize that the potential JV partner is thinking, WIIFM. (What's in it for me.)
Why him or her to choose more than (or in addition to) the other people who approach them. Think about how this helps. Do you have a long list, or contacts you want? Do you have statistics to show how your plan will help?
If they say no, and some for many reasons, go ahead. You may already have too much in the way now. Ask if you can contact them in the future.
There are also different rules and views on the initial contact. I've heard some people say the phone, as many emails that the call is highlighted. Others have said, do not mean to interrupt phone and when you have not already met them.
There is a combination of things to try. For example, send an email that you want to call. Send a letter through the post office. I've even seen people send requests for an express service and have included a number of different trinkets, samples and grab attention. You may need to experiment, as each person is different.
Ultimately, I think you should show that it has taken the time to get to know on some level and know what their products are. When people feel that respect for them and their product or service, this may go far beyond being seen only as a source of income.
Ultimately, plan, prepare and take action and you will find not only attract large venture partners, but also make friends on the road.
"I've always found it very important to do your homework first and then speak."
Topic: Steps To Achieving Joint Venture Projects (Read 1281 times)
