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Getting Your Potential JV Partner to Say “Yes”

June 2, 2009 by Christian · Comments Off 

One of the most challenging tasks that you will have in forming a joint venture is not finding the right partner, but making the pitch and getting them to say “yes” to your proposal.  JVs are not the usual business paradigm that many entrepreneurs and business owners are accustomed.  Whether it is a lack of knowledge or experience of JVs, other business owners may be doubtful and unconvinced of the benefits a JV can bring to them.

What should your strategy be to approach and convince a potential JV partner?  Here are three important elements to keep in mind when you begin your path to JV success:

Build a Relationship

The most important thing about forming a JV partnership is trust in each other.  Relationships are the key to any business success.  When you approach a potential JV partner, it’s important that you are likeable and sincere so that you gain the trust of the other person.

  • Build rapport – Find the common ground.  What do you have in common?  Are you both in the same industry?  Did you go to the same college?  From the same state?  Find the common ground that will build a connection between the two of you.
  • Make them feel important – When you give a compliment or praise, your potential JV partner you make them feel important.  Building rapport and making them feel important are great ways to get them open to your ideas.

Teach the Benefits

The best way to overcome skepticism or resistance to a JV is to teach them the benefits.  When you help your potential JV partner understand what’s in it for him, it clears a path to the “a-ha!” moment when he ponders the possibilities.

  • Money money money – Hit on the lucrative points as often as you can.  Letting them know that a JV can help them make money with less effort is probably the biggest benefit they will want to know.
  • Autonomy – Agreeing to a JV does not mean they are jumping in as 50/50 business partners.  They still get to keep their autonomy in running their own business.  A JV simply means they will agree to join you in a specific business deal or venture.

Pitch the Proposal and Close the Deal

Once you have a good rapport going and softened the resistance to joint ventures, you are free to move ahead with your specific proposal.  What do you want your potential JV partner to do?  Give him the broad view of the proposal and then go into specifics on how you think it will be successful.

Don’t forget that your potential JV partner has opinions too.  Ask him what he thinks about your proposal and whether he has any ideas to add.  Giving them part ownership of the proposal will help them feel more attached to the deal.

Your JV proposal requires the steadiest of hands in convincing a potential JV partner.  Your respect and enthusiasm will go a long way in sealing the deal.

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 Joint Venture Marketing Wealth Report.

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Twitter Weekly Updates for 2009-05-31

May 31, 2009 by Christian · Comments Off 

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How to Build an Irresistible JV Offer

May 28, 2009 by Christian · Comments Off 

If you are convinced that a joint venture can lead to great profits and other benefits, you may be on the hunt for a potential JV partner.  You have the enthusiasm, the spark, and the drive to make a joint venture work.  However, the only thing missing is a partner.  If you are going to recruit a JV partner to join your venture, you need to build an irresistible offer.

When you approach a potential partner for a joint venture deal, you’re really asking them, “Do you want to go into business together?”  You must remember that they are already in business and the real barrier you need to break down is their resistance and skepticism to joint ventures.  How do you do that?  Here are some tips you should use to build an irresistible JV offer.

Build Rapport

As a business owner or entrepreneur yourself, you know that people like to do business with other people they trust.  You must present yourself as a trustworthy and competent business partner.  Therefore, before you can even begin presenting an offer, you must present yourself.

Talk a while with your potential partner.  Perhaps treat them to a meal (all tax deductible, of course) where you can relax and get to know your potential JV partner.  Find the common ground you share, whether it is being raised in the same state, growing up cheering for the Cowboys, or being the youngest of siblings.  Your common ground is the basis for building rapport.  Find that connection that gets you both on the same level and playing field.

WIIFM?

While you are making your proposal your potential JV partner is thinking, “What’s in it for me?”  Your job, after establishing rapport, is to present exactly what’s in it for him.  Well before you meet with your potential JV partner, you must create a list of benefits that he will enjoy.  These benefits could be, but are certainly not limited to:

  • More profits – Who doesn’t want to make more money in business?  Show how the JV will put more money on his bottom line.
  • Less work – One great thing about JVs is the sharing of resources.  Sharing the work load means more time spent on developing his business or making money.
  • Bigger customer base – Don’t forget that you both will be combining current customer bases and building a new one as well.  Get him thinking about his future marketing contact list.

Show Specific Details and Data

Don’t give vague figures and ideas like, “This will be great!  We’ll make lots of money!”  You need to show specific details about how your proposed JV will succeed.  Work up charts, graphs, tables, or any visual element that will help your target partner visualize the success of your proposal.

Remember to keep it simple.  Though you want to provide specifics, keep the details simple to understand.  A potential partner bogged down in a mire of confusing details may not be ultimately receptive to the proposal.

Your irresistible JV proposal is just the beginning of a potentially long-term relationship.  Take the care it needs to develop into an attractive and stimulating offer.  The result could be a “yes” on your JV proposal and great success with your 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 Joint Venture Marketing Wealth Report.

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Twitter Weekly Updates for 2009-05-24

May 24, 2009 by Christian · Comments Off 

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Are You Ready For a Joint Venture?

May 21, 2009 by Christian · Comments Off 

Joint ventures have long been touted as a smart and potentially prosperous business strategy.  Working in tandem with another business can bring big profits and open successful new markets. But before you ever consider approaching another business for a joint venture, you must determine whether you and your business are ready.

A JV can mean major changes to your business operations. It may mean changing your overall business strategy and goals, as well as adjusting and possibly expanding your employees and workers to achieve those goals.  It could also mean realigning your business resources to help assure JV success.  Are you ready for these changes?

If you are interested in pursuing a joint venture, give yourself some time to sit down and perform a self-analysis of your situation and readiness for such a venture. Here are some important questions you might want to ask:

What Are My Strengths & Weaknesses?

This is a big question that can determine what you bring to the table in a joint venture. Do you have particular expertise in technology or in sales? Are you a hindrance in organization and managing money? You need to know what you do best and where you need improvement. This will allow you to help narrow a potential JV partner who could help with your weaknesses and to whom you could offer benefits to as well.

Can A JV Help Me Compete With Other Businesses?

Are you struggling with competition? If you are trying to stand out from other competing businesses, you might think of ways that a JV can help you emerge as a leader in your industry. Rather than focusing on marketing directly against a competitor, a JV may offer ways that help attract new customers and help you stand apart from the crowd.

Am I Cooperative?

Do you consider yourself a person who is easy to get along with? A JV requires flexibility and cooperation between partners. If you like to only do things your way and run your business with an iron fist, you may not be a good candidate for a JV. However, if you are open to new ideas, like to explore creative ways to improve business, and enjoy working with other people, you may have an aptitude that fits well with a joint venture partnership.

Are My Employees Open To a New Venture?

If you have a business with employees, you should think of their attitude and morale if presented with a joint venture. Some employees and managers may view a JV as a threat to their job security. Or they may not like the idea and jump ship after you announce a JV to them. Be sure that your employees are open and ready for changes that may be necessary to help a JV become a success by talking to them beforehand and getting their input.

Your potential JV awaits you only if you know you are ready to enter into one. Get yourself mentally prepared and your business framed for a JV. With the right attitude from everyone involved, you will have the support you need to move forward with a JV idea.

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 Joint Venture Marketing Wealth Report.

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Twitter Weekly Updates for 2009-05-17

May 17, 2009 by Christian · Comments Off 

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BIRT A Field Guide to Reporting

May 15, 2009 by Joint Venture Marketing · Leave a Comment 

BIRT A Field Guide to Reporting



The first in a two-book series about Business Intelligence and Reporting Technology, BIRT: A Field Guide to Reporting introduces reporting to a broad base of users. Built on the Eclipse platform, this exciting technology makes it possible for programmers and non-programmers to build and deploy complex reports with minimal effort.

BIRT: A Field Guide to Reporting presents information about how to develop and customize reports of progressive complexity using BIRT Report Designer. This tool was designed from the ground up for Web applications and uses a Web page-oriented design metaphor in contrast to older banded report writers that were developed before the advent of the Internet. This unique approach to report creation makes BIRT an approachable and effective tool for developers of all levels.

Report designs discussed include

  • Listing reports that include sorting, grouping, and totals
  • Summary reports, such as top N reports
  • Charts, including pie, line, bar, and gauge charts
  • Master-detail reports

Other topics discussed include

  • Understanding the technology
  • Planning report designs
  • Accessing data
  • Laying out and formatting reports
  • Building charts
  • Enhancing reports with interactive viewing, shared libraries, and localized text
  • Preparing reports for international data

Buy/More Info

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Developing Your JV Marketing Message

May 14, 2009 by Christian · Comments Off 

Your joint venture is a great way to expand business and experience additional revenue with less work.  However, in order to access additional revenue, you need to tap into existing and potentially new markets with your JV offering.  Your marketing message is one of your key strategies that will determine whether your joint venture is a success or not.

Market Research

To have a viable marketing strategy and an effective marketing message, you and your JV partner need to know what your customers need and want.  A proper market research strategy can provide valuable information and insight into the behaviors, motivations, and intentions of your customers.

Market research can be performed formally or informally.  Informal research can be performed simply by asking your existing or potential customers their opinions on a particular product or service your JV wishes to offer.  A formal market research plan, however, will be more in-depth and provide a great deal more of quantitative and qualitative data.

Your market research can help you formulate a successful marketing message with information about:

  • Demographics – What is the education, income level, age, gender, etc., of your customer?
  • Geography – In what areas will your joint venture product or service most likely be successful?  Metro?  Rural?  Midwest?  Coastal states?
  • Business Markets – Will your product or service be more successful as a B2B or straight to consumer?  Where will your customers likely buy your product – retail stores?  Online shopping?

What Motivates Your Buyers?

When you develop your marketing message, keep in mind the motivations and behavior of your predetermined customers.  You can learn a lot about your customers’ motivations from reliable market research that tells you why customers need your product and how much they are willing to spend for it.

Create a message that tunes in to their motivations.  Your product message should explain how it can help make life easier or better.  Do they want a cleaner house?  Environmentally “green” products?  More free time?  Better tasting food?  If you know what motivates your target consumer, you can more easily convince them to buy your product.

Testing Your Message

A marketing message is not done with the first draft.  An effective marketing message is something that is flexible and adaptable to market changes and responses.  Let’s say you have developed what you feel is a great sales copy to post on your joint venture product website.  In order to determine if it is the best message, you should test it against others.  Develop a short and long version of your sales copy.  Or even two or three sales copies with different approaches.  Use them all at once during a set sales campaign and use the statistics you gather to determine which one attracts more customers and makes more sales.  By continual testing, you can discover and develop the most effective marketing message.

Getting the word out to your customers is one of the most important key aspects of a successful JV.  Choose to focus and work with your JV partner to come up with an effective marketing message, and you will have great chance of JV success.

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 Joint Venture Marketing Wealth Report.

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3 Important Strategies for an E-Business JV

May 12, 2009 by Christian · Comments Off 

There are at least a million and one ways to form a joint venture and work together in business. One of the fastest-growing business fields is e-business or online commerce.  With an e-business, you can work with virtually any potential JV partner anywhere in the world to develop, maintain, and grow your online presence and profits.

Here are some proven and wise strategies you should consider when starting an e-business JV:

1. Decide What Your JV Will Offer

Part of your JV planning process is brainstorming and deciding what your e-business will offer customers and how you will deliver it. Will it be a service or product business? If it is a service, who will provide it? Will it be a service given in person or presented from the JV business website?

If product oriented, will it be co-manufactured or assembled? What shopping cart software will you use? Who will manage the orders? Who manages the supply chain and shipping? Will you offer more products as the e-business grows? These are important questions and must be answered in order to form an effective online business management strategy.

2. E-Business Process Management

Your e-business process management must align with your business objectives. Once you are able to visualize your business objectives, you can begin setting up a process management system that can help your JV achieve those objectives.

Your e-business process management system is the tool or tools your joint venture partnership chooses that will deliberately and systematically manage your e-business process. A large part of the process management is the software and hardware you decide to use that manages and maintains your website. Where will your e-business website be hosted? On your own server or at a third party? Who will design the website and what bells and whistles will be used? How will your customers be managed throughout their browsing experience from the landing page to checkout? There are many expensive, cheap, and free tools available that can help you run and manage your joint venture e-business. Find the ones that work for your e-business and budget.

3. Mind Your SEO

A successful online business, just like a brick and mortar shop, must be able to attract customers through advertising and from web searches. In addition to paid advertising your website must be built and managed with search engine optimization, or SEO, in mind.

SEO is a process where you make your e-business website easy to find for your customers who search for your products or services through keywords on a search engine such as Google. Here are just a few of the important elements your website should have to help it get noticed by customers:

  • Well-designed – Your e-business website should be easy to read and navigate. Don’t fill it up with too many graphics or try to put too much information on one page. Make sure your readers can easily understand your text copy and that all images are used sparingly.
  • Keywords – Saturated throughout your website should be important keywords that pertain to your business. Keywords are the lifeline between your website and search engines.
  • Links – A website is ranked not only by how relevant the keywords, but also by how popular it is. Try to get links to your website from other popular websites such as Yahoo! business directories, review sites, message boards, and from other online businesses.

Be sure to formulate a good online business joint venture strategy that will help your internet presence grow and become profitable.

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 Joint Venture Marketing Wealth Report.

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Twitter Weekly Updates for 2009-05-10

May 10, 2009 by Christian · Comments Off 

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