Techniques for Marketing Joint Ventures to Existing Clients

Executing successful marketing techniques is a key part of any marketing joint venture and often clearly defined in the joint venture marketing agreement that outlines the roles and responsibilities of each partner in the joint venture.  One of the most attractive parts of a joint venture is gaining access to new potential customers through your joint venture partner and so ensuring that the proper communication channels are in place and open is critical. The following marketing tools are excellent ways to market joint venture partnerships for both companies involved: company newsletters, email marketing, website branding, and personal introductions.

Newsletter – Both Print and Email

If you maintain an active list of client addresses or a list of emails then crafting a printed or electronic newsletter is an excellent way of educating customers about the potential products or services that are available through your new marketing joint venture.  A general guideline for writing a quality introduction to your clients / followers about a new company is to include the following: a short description of the product or service, an explanation of why you are developing a relationship with the company, how you think it will benefit your customers daily routine by utilizing the partners’ products and services, and how to best get in touch with the company if someone is interested in pursuing the opportunity.  It is always a great idea to use the company’s logo in the newsletter to assist the joint venture companies brand as well as include a web address that can be clicked and tracked appropriately if sending as an electronic newsletter.  Printed newsletters that are sent through traditional mail should include a promo code or specific phone number in order to track the business leads that are generated from the joint venture marketing efforts.

Email Marketing

Maintaining an email marketing list is very valuable for joint venture marketing activities.  An email can be easily sent to inform customers and others on your email list about product updates and special deals that only “insiders” have access to.  It is important to work closely with your joint venture marketing partners to identify the right specials and offers that you feel will best resonate with your existing client base.  It is in the interest of both parties to really focus on exactly what products and services are marketed as you don’t want your clients to feel that you are marketing those products and services that don’t relate to their interests.  If email marketing campaigns will be a core component of your marketing for a joint venture make sure that you have set up specific affiliate codes or specific landing pages so that all of the leads and successful business you drive to the partner is documented properly.

Website Branding

Maintaining an active page on your website to list joint venture partners that have products and services that would be of interest to those that visit your website is a core component to any marketing joint venture.  When your clients visit your website they should be able to access basic information about all of your partners and quickly learn about the unique opportunities that may be available for them to save money through special discounts.  A logo and company description along with the best means of contacting the company directly should be included on the partner page.  It is valuable to do a blog post occasionally about each of your joint venture partners as that will help to reemphasize the brand and your commitment to promoting the relationship to your community and allow you to expand on the benefits that your joint venture partners have to offer your existing customer base.

Personal Introductions

One of the best methods to market a joint venture opportunity is to personally introduce your clients to the partner company while you are meeting with them.  While this arrangement may not be ideal for many different types of joint venture marketing, if you are a business that has lots of direct interactions with your clients and have built deep and meaningful relationships based on trust then any product or service you recommend in a meeting when an issue may come up will be highly likely to be acted upon by your client resulting in a sale for your joint venture partner.  This type of introduction often works best when your business has some consultative role with your clients and they rely upon you to make the best decision or recommendation for them.  It is generally a good idea to have a specific sales representative or specific channel in place for you to refer these leads to so that when your client is handed off to the partner company they are treated appropriately and you get credit for sending the business over.  Individuals that consult businesses on any number of items can generate significant portion of their revenue just by having several companies that they provide referrals to when they encounter a client that needs support.

There are many great techniques for marketing joint ventures aside from these basic marketing avenues.  Make sure to be creative with your marketing campaigns, but also do the basics well so that you cover all your bases for successfully promoting your joint venture partnerships.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

Techniques for Marketing Joint Ventures to Existing Clients

Executing successful marketing techniques is a key part of any marketing joint venture and often clearly defined in the joint venture marketing agreement that outlines the roles and responsibilities of each partner in the joint venture.  One of the most attractive parts of a joint venture is gaining access to new potential customers through your joint venture partner and so ensuring that the proper communication channels are in place and open is critical. The following marketing tools are excellent ways to market joint venture partnerships for both companies involved: company newsletters, email marketing, website branding, and personal introductions.

Newsletter – Both Print and Email

If you maintain an active list of client addresses or a list of emails then crafting a printed or electronic newsletter is an excellent way of educating customers about the potential products or services that are available through your new marketing joint venture.  A general guideline for writing a quality introduction to your clients / followers about a new company is to include the following: a short description of the product or service, an explanation of why you are developing a relationship with the company, how you think it will benefit your customers daily routine by utilizing the partners’ products and services, and how to best get in touch with the company if someone is interested in pursuing the opportunity.  It is always a great idea to use the company’s logo in the newsletter to assist the joint venture companies brand as well as include a web address that can be clicked and tracked appropriately if sending as an electronic newsletter.  Printed newsletters that are sent through traditional mail should include a promo code or specific phone number in order to track the business leads that are generated from the joint venture marketing efforts.

Email Marketing

Maintaining an email marketing list is very valuable for joint venture marketing activities.  An email can be easily sent to inform customers and others on your email list about product updates and special deals that only “insiders” have access to.  It is important to work closely with your joint venture marketing partners to identify the right specials and offers that you feel will best resonate with your existing client base.  It is in the interest of both parties to really focus on exactly what products and services are marketed as you don’t want your clients to feel that you are marketing those products and services that don’t relate to their interests.  If email marketing campaigns will be a core component of your marketing for a joint venture make sure that you have set up specific affiliate codes or specific landing pages so that all of the leads and successful business you drive to the partner is documented properly.

Website Branding

Maintaining an active page on your website to list joint venture partners that have products and services that would be of interest to those that visit your website is a core component to any marketing joint venture.  When your clients visit your website they should be able to access basic information about all of your partners and quickly learn about the unique opportunities that may be available for them to save money through special discounts.  A logo and company description along with the best means of contacting the company directly should be included on the partner page.  It is valuable to do a blog post occasionally about each of your joint venture partners as that will help to reemphasize the brand and your commitment to promoting the relationship to your community and allow you to expand on the benefits that your joint venture partners have to offer your existing customer base.

Personal Introductions

One of the best methods to market a joint venture opportunity is to personally introduce your clients to the partner company while you are meeting with them.  While this arrangement may not be ideal for many different types of joint venture marketing, if you are a business that has lots of direct interactions with your clients and have built deep and meaningful relationships based on trust then any product or service you recommend in a meeting when an issue may come up will be highly likely to be acted upon by your client resulting in a sale for your joint venture partner.  This type of introduction often works best when your business has some consultative role with your clients and they rely upon you to make the best decision or recommendation for them.  It is generally a good idea to have a specific sales representative or specific channel in place for you to refer these leads to so that when your client is handed off to the partner company they are treated appropriately and you get credit for sending the business over.  Individuals that consult businesses on any number of items can generate significant portion of their revenue just by having several companies that they provide referrals to when they encounter a client that needs support.

There are many great techniques for marketing joint ventures aside from these basic marketing avenues.  Make sure to be creative with your marketing campaigns, but also do the basics well so that you cover all your bases for successfully promoting your joint venture partnerships.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

Joint Venture Opportunities: Thinking Outside The Box

A joint venture opportunity may present itself when companies realize the value in pulling together to achieve similar goals. The reasons for creating a joint venture vary depending on the needs and strategies laid out. There are several companies struggling in all sectors of the economy that can benefit from working with each other.

Building their customer base and thus increasing their profits is the main reason former competitors join forces. Another reason may include a scenario when one company can provide excellent marketing strategies, but lack the capital or personnel resources to execute their ideas or maybe one company has the financial and personnel but lacks the ability to properly market their product or service to a specific target market.

Building and construction industry

The construction of a commercial property usually involves different companies forming a joint venture. The strength of each partner is spotlighted during different phases of the project. First, they invite one or more partners because of their experience in securing the necessary financing. Then two or more companies may guide the development and construction of the building(s). During this time, one company may establish a leadership role managing the architects, engineering, and all elements of the indoor and outdoor design. Meanwhile, they might hire a property management company, or maybe bring a third joint venture partner on board for the final phase of the project. The building and construction of commercial property industry are at the forefront of creatively using joint venture opportunities.

Travel industry

The stakeholders involved in the travel sector today often service niche markets. By coming together to provide services, which complement each other, the partners can improve their opportunities for growth.  Travel agencies, airlines, hotels, transport services, tourist destination sites are a few segments of the travel industry consistently seeking joint venture opportunities. The relationship can assist in reducing costs of advertising. As a result, they can offer discounts or features their direct competitors are lacking.

For example, in recent years two popular tourist trends have emerged: the mature travellers and those who stay closer to home to enjoy “staycations”. The tourism and convention bureau in a city or state may actively seek a joint venture opportunity with agencies focusing on these market segments. The bureau can give insider information regarding the advantages of a community, while the travel agency understands how to get the message out to a national or international audience.

Entertainment and event organizers

Event and entertainment organizers are sometimes small firms struggling to attract customers. A joint venture between the various service providers allows each to focus on what they do best. For weddings, a florist and caterer partnering is a natural fit. A wedding planner perhaps may choose to share marketing costs with unique venues for the ceremony or reception. Other possible joint venture opportunities exist between audiovisual service providers, photographers, musicians, and limo companies.

As noted by the examples above, joint venture opportunities can easily emerge from within specific industries but they can also be formed between seemingly unrelated markets. For example, “Destination Weddings” have become increasingly popular in recent years. A wedding planner for instance might form a partnership with a travel agency to increase their marketing reach. The “Destination Wedding” planner can then provide services and features that stand out from the majority of their competitors with the aid of their travel agent partner.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

Lessons Learned From High Profile Joint Venture Examples

Business news headlines feature successful joint venture examples throughout the marketplace, and across industries. Their success showcase reasons why joint ventures make sound business sense for companies. One reason includes the ability to share the expenses of launching a new product line related to research and development. Pooling their technological resources is another significant advantage. Additionally, joint ventures don’t usually face the same stringent government regulation that normally haunts mergers.

Driving to joint venture success

In the automobile industry recent joint venture examples include the successful teaming of Ford and Mazda. Dubbed ‘The Auto Alliance International’, which began with Ford’s idle body-casting center located in Michigan. When Mazda embarked on an expansion program, they paid for the plant and used it to build their vehicles. Later, Ford wanted a piece of the action and reached an agreement with Mazda to buy back a 50 percent stake in the property. Today this site produces both Ford Mustangs and the Mazda RXs. This is a picture perfect model for those looking for an example of how even competitors can work harmoniously toward their own goals.

A prescription for joint venture success

The pharmaceutical sector in recent years has seen several successful joint venture examples as the industry continually seeks ways to reduce the costs of research and marketing. Novartis and Procter & Gamble joined up and brought the drug Enablex to the marketplace together. At one point, Novartis was marketing the drug as Emselex, a prescription offered to patients for the treatment of incontinence. Eventually, Novartis sold the U.S. rights exclusively to Warner Chilcott. By saving money on the front end with their first joint venture agreement, Novartis was able to make their business attractive to other bidders. Currently, Enablex has an estimated 25 percent market share globally.

When considering a joint venture partnership, it’s necessary to keep your eye on moving the ball down the field toward success. If the long-term goal is to sell off the separate entity, remaining lean but sound is critical to attract future offers.

Mobile industry joint ventures

Successful joint venture examples in the fast growing mobile industry include Sony Ericsson. Sony, the popular company from Japan, is well known for its excellence in marketing electronics globally. The hallmark of the Swedish company Ericsson is the technology they have produced aimed at telecoms. The two formed a hard to beat alliance producing high quality mobile phones. The two companies tapped into their extensive marketing network, and stellar reputations to create a strong alliance.

Look around your community or industry to identify market leaders, which offer products, or services that can compliment your business efforts. A bookkeeping provider does not have the same expertise as a tax professional. They perhaps would consider forming a partnership with a tax firm because their clients need this service. On the other hand, a tax attorney or firm does not want the daily or monthly management responsibilities related to bookkeeping. Together, a joint venture will allow the two partners to expand their knowledge, personnel and customer base.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

How To Increase Your Wealth Through Joint Ventures

How to increase your wealth is probably one of the most asked questions in the world. The challenge is there are no guaranteed answers for success. Progress depends on your capabilities, education, efforts and opportunities. The potential to increase your wealth on your own is one thing, finding a partner for a joint venture agreement opens up an entirely different pathway.

A joint venture is a business agreement, and the parties are all about contributed equity. In other words what do you bring to the table? So, where do you start when asking how to increase your wealth through joint ventures? Here are a few steps to consider:

Choose the right partner

This is often the hardest part, as the first step is generally the biggest challenge. Everybody will guarantee you the best deal and easy money, but do not fall for it. Carefully consider what your future partner is offering that balances out your areas of weakness. Choose wrong and you can fall further behind the curve because of wasted time and other resources.

Before you even approach someone or respond to a joint venture partnership offer, learn all you can about the individual or organization. Try to discover:

• How well is their business performing?
• What is their motivation for the partnership?
• Are they open to the idea of collaboration?
• Do you have the same business goals?
• What is their reputation in the marketplace?
• What does their financial background look like?

Sharing information and technology

If you want this to work, both sides must act as one. The joint venture partners need full access to technology and financial reports essential for the endeavor. While you need to have a strong working relationship, do not let your guard down as it relates to financial reporting. It is especially relevant to keep track of any business moves, no matter how insignificant they may seem. You should share all relevant information with your joint venture partner, and demand they do the same to avoid surprises down the road.

Take advantage of your partnership

Of course, in a good way! In today’s economy, it’s a challenge for small businesses to survive alone. Withholding key business information can hinder the success of the endeavor. Share market insights, marketing tools and customer contacts where relevant to the success of your joint venture. A partnership can also save you money by eliminating new employee hiring costs. If you attempted to expand on your own when creating new products or services, new staff is often a significant part of the investment costs. Reducing your expenses is an effective answer to the dilemma of how to increase your wealth.

The capacity

Let’s face it some businesses never reach the top on their own. It doesn’t always mean they’re not smart enough but having the right resources could have made the difference. A joint venture partner can help your business grow efficiently and cost effectively. Otherwise you may be full of exciting ideas, but with limited resources, those ideas will never come to life.

Entering a joint venture may be a tough decision, but it is worth taking a chance. Thousands of companies have found JV partnerships are an effective way to answer the question of “how to increase your wealth”. However, in order to achieve success and avoid risky situations, it’s necessary to define the process and take it one step at a time.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

A Reality Check About Joint Venture Strategies

Many business owners have only a limited understanding of joint venture strategies and gain only a little knowledge from hearing others discuss their experiences. A marketing conference speaker using the latest popular buzzwords perhaps easily impresses them. However, after the conference the attendees struggle. Ultimately they realize that they actually lack sufficient knowledge of the fundamentals to develop practical and winning joint venture.

Start with a full plan

Always know the proposed goals of the possible joint venture. Otherwise, how can you adequately decide if they meet the desired risk-reward basics? Sustainability is the key principle involved here. A number of businesses on paper have all the assets and capital needed to propel a business to new heights. But further examination shows the financial objectives considered are actually not economically sound. The risk-reward factors perhaps do not consider the cost of financing, timelines, legal implications and so on.

Formulating joint venture strategies focusing only on the prevailing economic conditions can spell doom to a business. How exposed is the business to future changes in economic forces like crude oil prices, fluctuating world currencies, new regulations, and transportation bottlenecks? A sound JV strategy should still offer the necessary profit margin, even when evaluating worst case scenario situations.

Understand why you should form a JV partnership

The parties outlining their joint venture strategies should identify key synergies, which explain why forming a partnership is the right decision. There is absolutely no reason to have a joint venture agreement if both parties feel that they are better off alone. The potential partners should offer something the other does not have, and vice versa.

Money cannot be the sole determinant factor. Sometimes simple considerations like geographical location will impact success. Joint venture strategies that take advantage of resources unique to a certain location can also be a good ingredient for a mutually beneficial agreement. In these cases there is an increased demand for an equally high supply of something. A good example is companies that deal with energy, mineral or natural resources. This is why some foreign entities will scramble to have a share of Middle Eastern, African and Asian companies.  

The human factor

Multinational companies must fully examine what personnel resources both sides have to offer. Technical expertise, relevant experience and proven track records are resources a potential partner can perhaps offer in place of finances. On the other hand, if their staff is not ready it can wreak havoc on the budget and timeline. Too often a good percentage of joint venture strategies will stagnant behind schedule, because of the time spent training employees. Unfortunately, sometimes this training was not properly forecasted so this significantly impacts budgeted time and resources.

It boils down to doing your homework before signing the joint venture agreement. Simple pitfalls can be avoided or circumvented with a properly prepared partnership. When evaluating joint venture strategies, what is seen on paper is not enough; consider on-site appraisals even if the cost is significant. It is important to make sure you have the real picture.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

Common Joint Venture Risks And Effective Solutions

Considering all possible joint venture risks carefully before potential partners finalize their agreement is essential. This should continue throughout the lifetime of the partnership. The process of partnering with a different business is not always a walk in the park. However; the time investment for a full assessment is worthwhile to ensure the partnership runs as smoothly as possible. Both sides need to fully understand the risks involved with integrating personnel and the relevant financial fundamentals of the each other’s businesses.

What are your objectives of the joint venture?

It’s important to communicate the objectives of all partners with the shareholders. Otherwise an unknown or unidentified conflict of interest may arise. Keep in mind that during the planning stage of the partnership, each side is in a “wooing phase” and on their best behavior. Enjoy it while it lasts. Be prepared for the end of the honeymoon because it will end. If goals, responsibilities and roles are not clearly outlined, a more assertive partner may attempt to impose their objectives and goals absent a thoroughly planned agreement.

Some of the more prominent joint venture risks include; differing ideas on how to raise capital, financing agreements, and spending philosophies. Be sure to consider whether the JV operations will be capital-intensive or labor intensive. One partner might prefer heavy investment in machinery or technology for a competitive edge. The other may prefer more investment in labor-intensive techniques to avoid tying up capital.

Other common risks may involve personnel and staff integration. The two teams are perhaps worlds apart in terms of expertise, and technical sophistication. Often it requires expensive training to bring the other side up to speed. The new JV partners may also encounter a deep-rooted resistance to change from their respective staff. The risks abound when employees remain too entrenched in their previous philosophies, corporate culture and work environment. Territorial battles ensue over the new system, and non-compliance often leads to increased staff-turnover.

Joint venture risks related to intellectual property and financial information

Another area of contention is how much information to share. It may not be necessary or required to provide the other partner full access to something like production secrets. A number of joint venture marketing agreements are between two related, but not directly competing businesses. A soft drink manufacturer might enter into a partnership with a confectionaries producer. In such a partnership, the soft drink manufacturer would not necessarily find the need to share their soft drink formula and vice versa.

Joint venture risks dependent on capital spending can arise when one side refuses to share exact details related to their financial backers. Sometimes there is reluctance to offer the full details about future investors out of fear the potential partner will contact the investor directly. This leaves their prospective partner concerned that they do not have a true financial picture.

Being aware of the potential risks involved in a joint venture partnership is not enough. Efforts should be taken to protect each company as much as possible from the adverse effects of poor planning and the lack of a thorough evaluation. Building the right relationship from the start is ideal. This should minimize ill feelings that could develop between the new teammates. Adequate research, negotiation and compromise are necessary when developing shared objectives in a joint venture.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

Effectively Integrating Your Joint Venture with Social Media

Developing an effective strategic plan to integrate your joint venture and social media is essential for growth. In nearly every industry, social media influence has led to major changes in how joint venture partners do business. Finding and communicating with their customers are the two primary goals.

The tools for a joint venture and social media

Over the last ten years businesses have increasingly diversified their advertising budget to include online resources. The first wave of change was creating appealing and informative websites. The last three years have seen the rapid integration of joint venture and social media profiles for products or services with these websites. For a business with a large product line and customers from all corners of the globe, using these tools are practically required. The building blocks of your strategy is a website featuring links to your profile on Facebook or Twitter. YouTube is also very helpful, especially when educating customers about a new offering. For a business-to-business focused joint venture, LinkedIn is an essential social media channel. One of the newest trends is geotagging your social media content.

Using social media to communicate with joint venture customers

Whether it is breaking news or building product buzz, social media has accelerated the sharing of information. It’s not an exaggeration to use the cliche “faster than the speed of light” when referring to how quickly a joint venture can send information. Governments and businesses continue to learn how important it is be ahead of the information curve about their organization. Over the last three years, we have witnessed how quickly word can travel thanks to social media whether it’s positive or not.

A brief mention of a “fly-in-my-soup” kind of experiences can spread within minutes thanks to the exponential growth of social media usage via mobile tools. If an influential user with a smartphone posts a complaint on Twitter, it is retweeted five times within minutes of sharing. And that is just the beginning. This is damaging for banks or blue-chip companies. But the average neighborhood shop or small business might find themselves severally hampered by a critical review or unconfirmed rumor. These types of joint ventures thrive on their reputation and a damaging social media image can hamper growth.

Facebook has become one of the top three search tools consumers use to learn more about a company’s product or services. It is also the first place they go online when not pleased with customer service or the product they bought. At the bare minimum you should set up a free Google Alert via email for the name of your product or service. Choose the as-it-happens option for delivery. The faster you respond to criticisms as well as compliments, the better.

Relationship building with your customer

The ongoing integration of your joint venture and social media communication is a key method of building relationships with your customers. Allowing your customers to have the opportunity to join a dialogue with you is a great way of building trust. Consistent and quality content shared via social media allows your joint venture to quietly stay on the radar of your potential customer. Perhaps they do not need event planning help today, but what about next month? If they read on Twitter your party planning how-to tips regularly, then when they need the services of an event planner, you might be the first call.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

How to Find Joint Venture Marketing Partners

Working with another company through a joint venture marketing agreement can be a good business decision, especially for companies who have limited resources but are willing to take the risk. Teaming up and creating a new business entity with its own assets and sharing the risks and rewards from the project may be just what is needed to accomplish what seems impossible to do individually. But the question is how to find joint venture partners who are a good fit for your business.

Finding joint venture partners

There are two possible solutions to finding the right JV partner. First, look around your immediate and local market for prospective partners and talk to them directly. The other is getting in touch with them through a “feeler” question or comment. A feeler usually draws out the hint, opinions or purposes of others in a group of people who might be interested into contacting you. One of the best places to find prospects is through social media channels such as Twitter and Facebook, however your first stop should be LinkedIn, which is the leading social media channel for professionals. You will find in most cases, that what you are looking for is just a click away.

Strategies for finding potential joint venture partners

In looking for possible JV marketing partners, you should ask yourself what are the qualities in a business partner that you’re looking for. Are you lacking in funds? If you want additional capital but are not interested in getting business loans, then finding a business investor is what you need. Look for them in your own business community, or even from your direct competitors. Sometimes your competitors are just waiting to be asked for a possible merging. Teaming up with a competitor is sometimes easier than getting somebody who has no knowledge of your business at all.

Industry journals are also valuable resources for scouting potential partners. Look for advertisers who might be interested in joining the venture. Scan your circle of business associates as it’s easier to approach someone you may already have an acquaintance with. They can be reached at conventions, conferences or seminars that you’re attending.

For those companies who have enough capital but lack expertise to further expand their business, look to schools, and the web or specialty institutions as possible leads. The internet has plenty of sites that provide access to freelance service providers. You can browse their qualifications and goals, and who knows, maybe he is the one that you have been looking for to team up with.

There are no limitations as to where you might find a joint venture partner. It could be a friend, or a friend of a friend. You just need to share your insights and visions of the joint venture marketing partnership you have in mind. Who knows, maybe the person sitting next to you in a restaurant or airplane turns out to be your future JV partner.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

How to Start Your First Partnership Brokering Deal in the Next 24 Hours

Even if you’ve never done a partnership deal before and you’re currently working for a company and you don’t have a product or service of your own, you can start the process to making a profit in less then 24 hours using partnership brokering techniques. If you do have your own product or service you can apply the same partnership brokering strategies.

You can start brokering deals for quick cash and turn that into residual, passive income, repeat the process and compound them into $1000’s a month. This is not a difficult process once you understand the core ideology behind partnership deals. I’ve used the technique many times to generate income to the tune of $500 to $2000 per hour when the deal has run its course.

Let me give you a real-life example that identifies this partnership brokering strategy.

I’ll give one of the easiest partnership strategies that I used back in 1999 to generate $700 for 1 hour of work. When I was working in an insurance company developing a quoting system for a large online insurance application I got the opportunity to work with with the IT Director, Ron, directly. I had been consulting on a technology project for about a year when the need for a particular project came up that was outside my scope of knowledge. It was a new technology that I knew about but was not able to directly deliver what was needed to complete the project. However, I did know of several people through my Asset Network (these are people that I know that have other skills, resources and knowledge outside of my own) that could deliver the needed skills for this upcoming project. One guy in particular who does this type of work full time who’s name was John.

Since I already had built a trusting relationship through the value I provided to the Insurance Company over the last year and I had positioned myself as a “Value Provider”, I made the suggestion to the IT Director that I had access to the needed skill set he was looking for. Now keep in mind I had set myself up from the beginning as a “Value Provider” and not just a single source consultant that could only provide value for the skills I was hired for.  At the time I positioned myself as a “Technology Value Provider” so when other projects would come up and a need for other skill sets would arise, I could be in the position to solve the problem. I told Ron I had a qualified person that specializes in the skill set he needed. He told me to setup a discovery meeting where all of us could meet and discuss the project. We had the meeting, Ron was satisfied with what John could provide so we setup a time line on the project, discussed the rates and decided to move forward.

Total time on this project was about an hour and my commission for recommending John, as a solution to Ron’s current problem, setting up and managing the process was $700. Not bad for thinking out of the box by recommending a solution that I couldn’t provide, but knew of someone who could. How could you apply this example to a person or company where you can position yourself as problem solver and earn a commission for your efforts?

So what are the take away points that you can use immediately to start creating partnership brokering income? Regardless of what your skill sets are, you should always position yourself as a “Value Provider” and not just pigeon hole yourself into thinking that you only have skills in X, Y and Z. Instead, position yourself as a business development consultant as every company is in search of new clients and someone who can solve business related problems. Once a company or person sees you as a problem solver and you can deliver on what you say you can do, you could have a client for life. That client will gladly pay you a commission; a one time payment or even an ongoing residual income for solving their business related problems through your combining, recommending and advising them with resources you have access to.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.