Aboriginal Buying Group

You have an online business that you started from scratch. It has grown steadily over the last few years, and you make a small profit from your endeavors. However, it hasn’t grown as quickly as you first imagined, and the profit isn’t enough to pay your Internet bill each month, but not your rent and other essentials. Is there a way to expand and grow your Internet business with another online partner?

The answer is a resounding “YES”! There is much potential for partnering up with another online business owner to gain more traffic, find more efficient marketing platforms, and earn higher revenue. Most business owners are open to making more money, even through a partnership. If you can find a willing JV partner who wants to pair up and tackle more business. Here is how you could benefit:

Provide Enhanced Service to Your Current Customers

With a joint venture, you have the potential to offer your current customers and subscribers an added-value service. A JV partnership with another website owner who sells products or services that are complementary to yours can be a breath of fresh air that you could offer your customers. How? You make it appear that you have made an extra effort on their part by finding a “deal” on your JV partner’s products or services. Just make sure that the products or services from your new JV partner are good quality and will result in solid customer satisfaction. A deal on a ‘bad’ product can reflect poorly on your business, and you could potentially lose customers in the process.

Increase Your Subscriber List

When you pair up with an online partner, you can get access to his mailing or subscriber list. An endorsement from your JV partner can send hundreds, or even thousands, of new potential customers and subscribers. Offer them a great deal to sign up with your mailing or subscriber list, and you may find your customer contact double or more. This is a great way to increase your subscriber list with little or absolutely no cost. A larger, targeted customer contact list gives you the leverage to offer great deals that they can purchase and increase your income.

Gain More Credibility

When you chose and acquire the right online JV partner who already has high credibility and reputation, you can instantly increase your own credibility. For instance, a JV partnership with an online giant like Ebay or Amazon, where you offer special and quality deals for their customers, gives you access to millions of new customers. Your association with such an online presence gives you instant endorsement if you form the proper strategy. That means following through with your promises and offering quality products or services.

Take your online business to a new level. It is possible to go it alone and try to make a giant skyscraper out of a pile of rubble, but with the help of an online JV partner, you can realize great profits through an already existing structure.

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.

A joint venture is a proven method to increase your marketing and sales - with a much lower risk that doing it all yourself. Since you share resources, costs, supplies, and contacts, the risk is spread between you and your JV partner. You both agree to share the profits (and losses) that are realized from the partnership. Though increasing your profit is a great benefit from joint ventures, you also have the opportunity to walk away from the JV if it doesn’t work.   

But how do you find a good JV partner willing to work with you and take on the risks of exploring a new markets and sharing the rewards of bigger profits? Although JV partnerships may seem like a difficult business challenge, finding and convincing potential JV partners is not hard. The truth is that potential partners are everywhere!

Look In Your City

You might look right in your metaphorical backyard. Look at the business across the street or the mall. What about that downtown business that you could partner up with for your company in the suburbs? Proximity doesn’t have to be a detriment to finding a JV partner, nor is it the only way to find one.

A JV partner who is in close proximity has many benefits. First, it has the benefit of being able to hold face-to-face meetings when you and your partner need to discuss an issue. Communication between JV partners is essential, so working with someone you can meet with regularly is a bonus.

Secondly, you and your JV partner can share walk-in customers. A great JV strategy is to have coupons for your JV partner’s business in your store, and vice versa. Convince a customer that if they buy a certain product, they will receive a discount for a complementary product at your JV partner’s location. 

Look at businesses in your neighborhood and city and find one that could potentially be a good pairing for your products or services.

Look Online

You can search online and find potential JV partners. You could post an ad on your website, or on a popular “want ads” forum like Craigslist. Though you can never be sure what type of response you’ll get and the quality of potential JV partner, it is a way to increase your list of possibilities.

If you have an Internet business that works from a website, you could also search out other online businesses. You could set up an affiliate program or find other ways to share and build traffic to your sites.

Leverage a Joint Venture Service

There are companies that can help you match up with a potential JV partner. These services usually require a broker fee, but the investment can be well worth the return in finding reputable JV partners. Some broker services simply use a “members only” website where registered members can post their business and needs and browse other businesses that may be a good match. Other companies may do all the matching for you, rather like a dating service. They take into consideration your industry, needs and wants, and then find a set of matches that could work for both parties.

Finding a JV partner doesn’t have to be time-consuming or difficult. It may take a little work to research good partners and find the best matching, but the reward could be bigger profits for you.

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.

Forming a joint venture partnership can be a big step for many entrepreneurs and business owners who have made their own empire all by themselves. However, if you are a delegation-style business owner, you may have reservations about entering into a JV with another business owner.  

If a JV proposal looks enticing and the only thing holding you back is the uncertainty of committing to a full JV partnership, there are ways you can test run your partnership without committing too much of your resources.

Joint venture partnerships take on many forms. In the most committed JV partnerships, the parties agree to share resources, such as money, staff, production facilities, etc., to promote their business, package each other’s products or services, or even create, distribute and sell a new product altogether. These partnerships require much effort from both parties to ensure that a business plan is executed effectively and that profits are shared according to the agreement.

But what are some ways that you could partner up with another business owner that does not require so much time, effort, and resources?

Promote Each Other’s Business

One of the most effective core JV strategies is to cross promote each other’s business.  This is simply done by informing your customers of the benefits and products of your joint venture partner. One possibility is that you and your JV partner could offer free samples of your products in the other’s respective store. Are you a great cupcake baker?  Offer samples to your JV partner’s customers in her coffee shop.  And you could offer free coffee samples in your bakery. 

Another promotion strategy is to give coupons that are only good for customers of your JV partner, and vice versa. Have your partner’s hardware customers come in to your store for a discount on a garden plant, while your JV partner could offer your gardening customers a coupon for a new hand shovel and gloves. 

And don’t forget to lie out brochures and signs in each respective store that offers more information to each other’s customers. With cross promotion, you each can enjoy increased profits simply by sharing customers, while avoiding any monetary commitment.

Bundle Products to Sell

Bundling is another good strategy for selling more and sharing the profits. In the above hardware/garden example, you could bundle a package of seeds or tulip bulbs with a set of your partner’s garden tools. Another great bundling idea is for food service businesses.  Package your specialty chocolates in a basket with your JV’s specialty wine. Bundling is a great way to offer added-value to customers and potentially sell more product than just on their own virtue.

Share Customer Lists

An easy strategy could also be to share mailing or email lists. Choose a joint venture partner who has a similar target customer demographic as yours. You could then promote your business to their customers with mailings or email offers, while your JV does the same with your customer list. No additional resources need to be spent, nor does any profit need to be split. If this cross promotion works, you and your JV partner could ramp up your commitment and find another way to offer value to your shared customers.

Joint venture partnerships need not require a lot of effort using these simple strategies. If you have a successful test run with your JV partner, you might move forward with bigger ideas and have even bigger 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.

Before you solidify a potential joint venture partnership, keep in mind some of the inherent human natures that could hinder your success. Joint ventures are a great way to increase your profits and reach new markets. But with the wrong person, you could face heartache and aggravation.

One thing to keep in mind is that people have a wonderful tendency to say, “yes” to great ideas, but some are lousy at finishing or following up on their side of the bargain. If you form a JV partnership, you need to know that your potential partner can be counted on to fulfill obligations set forth in your agreement and not harm your business or reputation.

Nobody Cares More Than You

Remember that no one cares more for your business and its success than you. When you form a JV partnership, your partner’s intentions are not for you business to succeed, but for his. Nobody else will work as hard as you on your business, and you need to make sure that your JV agreement is a win/win situation for both parties.

A new joint venture can be exciting for the parties involved and provides encouragement for the successful outcome. But when the week-to-week and month-to-month management of the joint venture reveals problems, either by low revenue, higher expenses, or more work than expected, you can be sure you’ll find out the full commitment of your JV partner. A partner with bad character will find ways to bail out or simply profit himself with no benefit to you. Though it’s nice to believe the best in people, you may find it wise to have an attorney draw up your joint venture agreement to protect your business interests.

Depend On Experience

If you are on the lookout for a potential joint venture partner, look for one who has had years of experience running a business and has a good reputation for being trustworthy. New business owners and inexperienced entrepreneurs may not fully understand the commitment required in a joint venture deal and can easily be tempted to take advantage of you. Rather than become equal partners, they may turn out to be followers, and you’ll be stuck doing most of the work but still sharing the profits.

With someone experienced in running a business, you know they are familiar with business elements, such as sales and marketing, production, HR, management, and even technology development like websites. If you think it will help, even ask your potential joint venture partner to provide references. Call them and ask about the individual’s trustworthiness and ability to handle a tough situation.

Be Cautious With Promises

Generally, you want to be careful when making promises to your potential JV partner. It is always wise to sit down with your JV partner and formulate your mutual goals and outcomes. However, be careful of obligating yourself to a situation that could mean more time, effort, and money than you are willing to exert. 

For instance, you could determine that your JV partner will handle all print advertising and you will be in charge of all online marketing. Without realizing it, you could end up putting hours of your time developing a website, or hiring a professional to design one. And your online promotional efforts may take a lot more than just updating a website. You may want to try social media marketing, or even perhaps start a blog about your joint venture products and services. All that could mean a whole lot more effort on your part to maintain a website, write blog articles, and find other ways to promote your JV partnership online. Make sure you all the duties are equally divided between you and your JV partner so there are no hurt feelings or dissatisfaction.

Ultimately, you must be willing to trust your partner and take a chance on forming a successful JV. But taking steps to get to know your partner and determine whether they possess the right character that leads to a successful venture can be the critical insurance you need to protect your interests.

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.

What is a strategic alliance? It is an alliance between two or more entrepreneurs or business owners who work together in a strategic fashion for mutual benefit. It is a double “win” arrangement that is based on a solid joint relationship.

If you are considering a joint venture or strategic alliance, begin your process with a few questions: Who is your ideal customer? What is your target market and demographic?  Who is your competition? Who else provides similar services or products in your industry? These questions can help you discover potential strategies that can be achieved through an alliance with another business owner.

What are some sample strategies that could work with your joint venture alliance?

• Use seminars, workshops, and other public forums to promote you and your partner to the marketplace.

• Offer creative combinations of your products or services as a package deal.

• Create a newsletter, or contribute to each other’s newsletters by writing articles.

• Endorse your strategic alliance partner’s business to your clients and customers through your mailing list. Have your partner do the same.

• Include a special offer coupon to your joint venture partner’s email and snail mail packets.

• Incorporate each other’s products or services with recommendations.  For instance, a real estate agent might recommend a mortgage broker to her clients looking to buy a home.

• Provide links on your website to you joint partner’s website. Have them do the same.

• Write and publish a helpful “how to” ebook or publication and send it free to joint clients and customers.

• Create an affiliate program where you and your partner receive a fee for each new customer that was referred to the other.

• Look on a national level for strategic alliances, as well as locally.  You could reach a great many more customers with a national strategic alliance.

Your strategic alliance does not have to be limited to just you and another partner. Consider a group of alliances where all can benefit. An example could be a real estate agent, a mortgage broker, and a title insurance officer who combine efforts to meet the needs of individuals and families buying homes.

Be sure to always know your potential partner and their products or services. It doesn’t make sense to automatically recommend another business’s product to a customer if you have not reviewed or used the product yourself. If the product turns out to be faulty or low quality, your reputation could suffer. Make a full effort to get to know your strategic partner and the products and services they offer.

When it comes to forming a strategic alliance, keep in mind that you are forming a partnership. Your negotiations in forming the details of the partnership should include win/win strategies that benefit both parties. But also remember that your joint partnership should benefit customers from both parties as well.

There is no better time than the present to take a look at your current business needs and discover ways you can profit and benefit through one or more strategic alliances. Don’t wait for another business owner to approach you. Get out and start forming alliances today.

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.

Joint ventures can be a powerful business strategy to help increase your profit, market share, and position in your industry. With the right leverage of time, experience, and resources of your joint venture partner, you can not only benefit your company, but also provide higher value to your customers.

In order to create a successful joint venture, there are many considerations that you and your potential partner could strategically use, such as combining production resources, sharing customer bases, and even sharing administrative costs of the venture.  Here are three particular considerations that can help solidify a successful joint venture strategy.

1. Analyze Your Target Market

Your potential joint venture will be more successful if you and your partner have a full understanding of the target market created through the venture.  You and your JV partner could combine your corresponding customer bases and relationships.  You need to know if your potential partner has a customer base that is a market for your products and services, and vice versa.  If you both share a target market, then the extra added value that you can create through a joint venture could mean new revenue streams and even a larger joint target market for both you and your partner.

2. Assess Your Goals

When you and your JV partner team up, it is wise to go over the goals and outcomes that you both want.  Clearly knowing what you and your partner want can help avoid confusion and misunderstanding in the future.  Asking some of the following questions can help solidify goals and aid in the formation of a successful JV strategy:

• What are our common visions and goals?

• How can we both benefit from the JV?

• Do we need additional resources for the joint venture to work?

• Are there other partners that could be brought into the mix to create better success?

Before moving forward with a joint venture, always talk with your partner so you both are clear on the objectives, strategies, and perceived outcomes. 

3. Create New Products or Services

One exciting prospect of a joint venture is the potential to create new products or services, either by packaging your respective offerings or jointly creating a new and innovative idea. 

By packaging and marketing your products together, you can provide a value-added item to your customers.  When your customers feel they have been given something special, you create loyalty and additional business through word-of-mouth marketing.  A new product created jointly between you and your joint venture partner can give both customer bases a reason to continue coming back to see what’s new and exciting.

A joint venture can be well worth the time and effort it takes to form the partnership and coordinate with your partner on the final outcome.  Your combined efforts make it easier to reach new customers and save money on marketing costs.  Keep in mind the above strategies and you can be sure to create a successful 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 Joint Venture Marketing Wealth Report.

Within any partnership, there will be conflict. That’s simply a natural facet of relationships. Hoping for zero conflict in a joint partnership is storybook thinking and can get you in trouble when disagreements arise, especially when two or more entrepreneurs with big dreams and egos are put together. However, when you approach a potential joint venture with the expectation that there may be conflict, you are already a step ahead in dealing and resolving issues.

Resolving conflict between joint venture partners requires the same amount of creative thinking as starting and running and entrepreneurial business. It also requires a large amount of personality to resolve conflicts in a genial and professional way. There are three major personality traits that will go a long way in resolving conflict:

Maturity – There is no need to revert to junior high pouting and tantrum tactics.  It is an amazing sight to watch some grownups behave like a child, and it happens frequently. You and your JV partner are mature grownups and can handle conflict without the “drama.” A dose of maturity in a conflict situation can be the catalyst for solving the problem.

Maturity requires a careful balance of consideration for others and emotional management. Often during conflict, we get a rush of adrenaline, which tends to set our emotions in a tailspin. We transform into an attitude of “I’m right, you’re wrong,” and become defensive in order to protect our integrity and reputation.  Always keep your emotions in check.

Give your JV partner the consideration that he is entitled to an opinion, especially when it comes to the success of his business. If you will resolve problems, walking a mile in the shoes of the other can give you a keep perspective in finding a solution.

Professionalism – No matter what occurs, you need to maintain your professionalism during conflict. That means keeping a check on your maturity as noted above, and behaving in a warm and professional manner throughout a conflict. That means allowing others to speak, remaining calm, and communicating in a diplomatic manner in order to convince others of your position. Never be pushy, arrogant, or abrasive. Professionalism sometimes requires practice to get it just right. But when you do you will have the ability to remain emotionally level, communicate effectively, and continue a good relationship.

Integrity – Throughout any conflict, you must keep your integrity if you wish to maintain your business reputation and image. That means keeping your promises, remaining loyal to those joint venture partners who have put their trust in you, and treating everyone with the same set of principles.

Integrity also means owning up to mistakes and taking responsibility for things that were in your control. Pointing fingers is never a good way to start resolving conflict. Resolution requires the parties to look at the situation and discover what went wrong without blame.

Your successful joint venture can happen not just with a solid plan, but also with the interpersonal business ethics noted above. Maintaining your maturity, professionalism, and integrity will get you a long way in managing your business relationships.

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.

When you form a joint venture partnership with another entrepreneur, you are not just simply agreeing to paddle together in the same boat; you are essentially developing better paddles, and perhaps even a better boat. Innovation in your JV can result in great success through your shared expertise, resources, and contacts. Your job is to discover the innovative ways to harness your individual strengths to come up with a strategy for success.

Observe the Environment Around You

If you want to develop innovative ideas and solutions, you need to know what strengths you have, and what problem you need to solve. A good innovator is one who observes his or her surroundings. That means taking inventory of what strengths and resources you have, as well as being sensitive to listening and responding to market needs. 

Find out what the market needs and what is in demand. Do customers need better delivery systems? Looking at the current economy, do they need lower prices? Take stock of what the market needs, and you and your joint venture partner can start to develop innovative solutions.

Analyze Opportunities

Once you have a good idea of what niche you need to fill or market needs that must be met, you and your joint venture partner can begin analyzing the opportunities and develop solutions. You may find that some opportunities are just too big in scope for your joint venture to tackle. Look for the ones that present opportunity to the strengths and resources of your JV partnership. 

You may discover an opportunity that seems small, but is a veritable iceberg underneath the surface. But without careful observation and analysis, you would never have known the opportunity existed for innovation.

Keep Solutions Focused and Simple

Your innovative JV solutions should not be so complicated that it requires too much of your resources and time. For instance, though there is demand for fuel-efficient cars, there is no need to start from scratch and develop another gas-saving automobile. Let the experts and leaders in that industry continue working on that solution. Your innovative solution could be focused on an environmental “green” paint that could be used on environmentally friendly cars.

Innovation can also be just a simple change in a procedure or addition to a business practice. Keep your innovation solutions simple and focused in meeting the need that you have discovered.

Think Big - Start Small

Your innovative joint venture partnership may look at the big picture and look forward to big solutions for succeeding in a market niche. However, keep your innovative steps along the way small. Start with just one step at a time, and continue moving forward with your JV partnership only after you reach smaller goals. One step at a time gets you to the end of your journey, and finds you at the doorstep to your bigger, encompassing goal. Good luck with your innovative strategies!

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.

Though it may be common sense to most, some entrepreneurs and small business owners tend to forget that their time is valuable. Why do so many waste time performing administrative activities or mundane tasks that do not fully utilize their talents and skills as a salesperson or business producer? 

So often we complain about having too little time to do everything we need to do in order to make our business grow, or that we don’t have enough money to do the proper advertising. However, in actuality, we may be inefficiently allocating time and money resources that are available to us. 

Joint Venture Saves the Day – and Your Time

A joint venture approach to time and money efficiency can be a business lifesaver, if not a Midas touch to great wealth. A joint venture with the right partner can help you both combine resources and utilize time, money, distribution, technology, customer access, special skills, and other resources, more efficiently. In essence, you and your joint venture partner share the risk involved with a business venture, but leverage the strengths of the other for mutual financial benefit.

When you have a reliable joint venture partner working in alliance on a business project, you have more time to make your own business grow. You have more time to hire reliable employees, more time to train current employees, more time to sell, more time to negotiate deals and more time to create additional joint ventures. You get the picture.

Your expertise as an entrepreneur is the capital that keeps your business afloat. If you want your business to continue its success, you need to find ways to leverage your time in the most efficient moneymaking way. Why are you spending hours doing $10 an hour bookkeeping work when you could hire that out or leverage the accounting system of your joint venture partner? If your time could be better spent creating development ideas and revenue streams that are worth $500 an hour, isn’t spending your time most profitably a better idea?

How to Brainstorm a Joint Venture Endeavor

Approach a joint venture with the following thoughts:

• How can I form a joint venture that saves me time and money?

• How can I leverage the resources of a potential joint venture partner?

• How can I add value to a joint venture partner so we both profit financially?

If you find that you are spending more time in the back room than in front of customers or clients, it may be the perfect opportunity for you to form a joint venture to free up resources. Use your entrepreneurial skills and creativity and approach a potential partner with a moneymaking proposal. A successful joint venture can unload a burden from your business operations that will lead to bigger sales and more time for you to manage your business.

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 JV Wealth e-zine.

A joint venture can open up new lines of business and additional streams of income for you by accessing larger markets, producing more and better products through shared technology, and ultimately increasing revenue. The benefits can be great, but in order to make a joint venture successful, you must have trust in your JV partner.

Trust: Give it and Earn it

When joint venture partners have complete trust in the other, then the partnership has wings in which to spread and soar. However, trust requires vulnerability. You must allow yourself and your business to become vulnerable to the actions of your joint venture partner. The success of a joint venture partnership may require you to share important information about your business. In doing so, you trust your partner in the venture to do the right thing and make the right choices.

You must also earn the trust of your JV partner. Of course, earning trust means not taking advantage of your JV partner, but in a proactive sense, it means that you keep your promises, are willing to help and put effort in the partnership, treat your JV partner as an equal and not an independent hire, and inspire confidence with your actions.

Expectation and Credibility

Along with trust comes expectation and credibility. If you allow yourself and your business to be vulnerable, you expect your JV partner to do the same. And in order to allow your JV partner inside your closed circle, you need to know that your potential JV partner is credible. Have there been any documented incidents or evidence that would stain credibility? Beware of hearsay. Gossip can ruin a business reputation. Always be on the side of giving the benefit of the doubt if your dealings with your potential JV partner have been positive.

Listen

During the time your joint venture is in existence, it is important to listen in order to maintain the trust between you and your JV partner. Listening well earns the trust of others. And remember that listening is the other half of communication. When you communicate with your JV partner, you have a relationship that involves trust. Be ready to be a good listener.

Empathy and Understanding

While listening gains the trust of others, and particularly your potential JV partner, empathy and understanding helps fulfill the need in others. Work toward building a solid relationship with your JV partner where you can both help fulfill each other’s business needs. Ask questions. Show that you understand the issues communicated to you. Offer compliments. When you listen and understand your JV partner, you have also earned their respect.

The joint venture partnership is a two way street. You must communicate effectively to help make it a success, but your ultimate test is the trust you put into each other. If you do not trust people, people will not trust you. Be willing to share and be vulnerable and you may be surprised at the positive response from your joint venture 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 JV Wealth e-zine.