Aboriginal Buying Group

Have you tried unsuccessfully to gain a joint venture partner? Perhaps you have given presentations and proposals to other business owners who genuinely were not interested in a JV. Or perhaps you didn’t highlight your own credibility enough. Sometimes a great business idea for a JV is not enough to convince another entrepreneur or business owner to join up. You must earn their trust as a credible potential partner and rainmaker.

Savvy business owners and entrepreneurs are choosy about with whom they spend their time and build alliances. Association with other successful business owners may give them additional credibility and status. Therefore, it’s not just business success, but also the reputation at stake as well.

Subsequently, with this type of business owner with whom you want to partner on a joint venture, you must earn his trust as a credible business owner yourself. Success breeds success, as they say.  If you are after a savvy business owner who is careful with his associations, here are some things you might use to gain his trust:

Client Testimonials

Use your own customer testimonials. Don’t just tout your own success; let your customers do it for you. Your customers and clients can really help your company shine. Whether you provide the best customer service, or produce and sell the best widget, customer testimonials will be the driving force that tells other customers, and your potential JV partner, that you do quality work. Get as many testimonials as you can. A few are good, but 10 shining testimonials are great.

Press Exposure

What have you done in your business that has been noticed by the press? Keep a clip file of any and all media about your business. Perhaps you were interviewed by the local major newspaper or gave a radio interview. And better yet, you got a stellar review about your business in a newspaper or magazine. Clip those articles and reviews and show them to your potential JV partner. Again, praise about your business ability from others gives you additional and heightened credibility.

Endorsements

Positive press is nice, but endorsements from other reputable businesses in your industry or field of business can give you a lot of credibility. People with high status and reputation that say good things about your work are a boost toward greater success. For instance, if you invented a small product and famous pitchman, Billy Mays, chose it to be in his next infomercial, you and your product just enjoyed a jolt of credibility from his endorsement.

A potential JV partner with a discerning eye and a sense for reputation may be one of the toughest pitches you’ll make for a business arrangement. But if you feel that their status, business acumen, and product are a good fit for a JV with you, then it’s worth the effort.  Be sure to appeal to their sense of reputation and status by highlighting your own.

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.

Be careful of what you wish for, as you just might get it – with a joint venture! While working on your small business, you may find you want to grow, but are limited by the resources, money, contacts, or whatever business element that holds you at bay. Expanding small business takes strategy, time, and most importantly, money. But what if you had help with your expansion? What if you paired up with a joint venture partner who has the resources your business needs to get revved up and going at full speed?

Many business owners view JVs as a way to make a little income with little work. The truth is that JV partners get out what they put into it. With the right partner, your JV could take off like a turbo jet. But if you and your JV partner really want to expand into big business with your venture, here are a few ways you can do it:

Find the Niche

A successful, long-running business fills a needed niche. A niche, in architectural terms, is a receded empty space in a wall or corner. A good designer can “fill” the niche with the right art or other complementary object. Your job in business is to identify the “empty” space in an industry that you can fill with your product or service and is in demand by consumers. By specializing in a defined niche, you can take the lion’s share of the market.

Open New Locations

Your JV may be so popular and successful that you must expand by opening new locations. This may be simply opening chain stores within your local community or finding new retail stores across a region or country. This type of expansion usually requires a great deal of capital and additional HR staff to manage the locations and handle additional staffing.  Be sure your JV agreement is set up with a combined strategy for capital and JV staff management.

Acquire Additional Businesses

Rather than expanding one-by-one with new stores, you and your JV partner may choose the strategy of acquisition. By buying out an existing business, you can already have in place the locations, equipment, staff, etc., you need to hit the ground running. Again, acquisitions must be handled with a great deal of available capital or financing capability, and plenty of analysis with the use of ROI and feasibility reports. 

Go Global

If you have discovered the right niche that is in big demand, you may want to take your JV and focus on global expansion. Prepare your JV widget for mass production and exporting, or tailor your service for international sales. With a successful global expansion strategy, you can really see your business expand and profits jump.

There is no harm in thinking big. When you form a JV, don’t just consider the short-term gain from a small venture. Look ahead at the possibilities of big expansion for both you and your JV partner by combining your efforts and resources on a national or international level.

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.

Have you ever been afraid of success? Why is it that when presented with opportunities that can make your business grow or earn you more profit, most small business owners will reject it because it is too hard or takes too much effort? Your attitude toward making your business grow and become more successful plays a big part in how and if you succeed. That is why when presented with the option for a joint venture you should consider these three things that could make or break your success.

Carry a Positive Attitude

An attitude that says, “I hate that I have to go to work today!” will be your demise. Why are you in business if you dislike it so much? Only those entrepreneurs and small business owners that absolutely love their job will make it a success. Attitude carries over onto employees as well. If the owner is unhappy, the employees will be unhappy as well and produce less. 

That is why your attitude needs to be in the right place. A positive attitude is what will make your business and any potential JV a success. Not your skill. Not luck. Not your extensive Rolodex. Give it ATTITUDE!

Deserve It

So many people carry around guilt or other psychological issues that weigh down their ability to create success.  Perhaps they had a rough childhood.  Or did not go to or finish college.  Perhaps a few failed marriages can get a business owner in a mindset that he’s not worthy.  With this kind of mindset, it is easy to see how someone may feel afraid of accomplishment or actually succeeding.

The fact is that everyone is worthy. And though none of us deserve success by default, as though the world owes us a living, it is up to us individually to accept our worthiness. Accept that were you to succeed in a joint venture – you deserve it! There is nothing morally, ethically, or even legally wrong with creating JV success. Go get it!

Release the Anchors

Sometimes we just need to let go. The issues we carry around with us can feel as heavy as the weight of the world. You may owe the IRS thousands of dollars in back taxes. Or perhaps your marriage is failing and the failure is creeping into your business. Or worse yet, you’re constantly get nagged by your spouse, parents, or friends about this ridiculous notion of running a business. Whatever anchors you carry with you must be left at the door when you go to work. 

Anchors, like those on a ship, will keep you stagnate and planted in one place without forward momentum. You must learn to let go of the issues that prevent your momentum and ignore those who do not believe. Only you have the power to believe in yourself.
Success is never easy.  But a positive attitude is always free. With your freedom from anchors that drag you down and a deserving attitude, you are unobstructed to move forward and enjoy a successful JV partnership.

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.

It’s time to dispel some of the myths that surround the issue of joint ventures. JVs are in fact a highly sought after form of business that can create great success and even wealth for those involved. However, as with any unfamiliar business venture, JVs sometimes get an undeserving bad rap. Let’s look at the most common myths of JVs.

Myth 1: JVs Are Complicated

If you were a top market share technology company trying to form a JV in another continent with another top communication company to develop a new cell phone and wireless technology, then yes, a JV could get complicated. But that type of JV is very rare.  Let’s face it – you’re a small business owner or entrepreneur who’s just trying to expand your business or business idea. 

JVs do not have to be complicated. You could form a JV where you simply perform cross marketing of each other’s products.  Or perhaps you share office or production facilities.  The fact is that JVs can be simple and take little effort.

Myth 2: JVs Require All My Time and Effort

Actually, a JV may take less time and effort than you put into your own business. A simple JV agreement may require a once-a-month sales letter mailing, or simply displaying your JV’s products in your store. The point of sharing customer contacts and mailing lists is to get more sales than doing it alone, right?

Also, your JV partner may have complementary strengths that make the entire process easier.  You may focus on the marketing and accounting functions while your JV partner does the production, packaging and distribution. How much more time would it take if you did all that yourself?

Myth 3: JVs Are High Risk and a Money Losing Prospect

A simple JV agreement where you earn a small portion of a sale of your JV partner’s product is virtually no risk.  In an affiliate type JV, you only make money at the time of sale and do not put any of your own money on the line. This is a simple example of a low risk JV, but the fact is when you form a JV, you agree to share the financial risk with your JV partner. You take a financial risk every day when you open your business doors, right?  The key is to control the risk.  JVs are a good way to control the risk and share the expenses.

Myth 4: You Will Lose Customers

If you are recommending products and services that are beneficial to your customers, doesn’t that create customer loyalty?  Your customers are not going to buy from you every time they go shopping or need your service. But by forming a JV that presents additional and quality services and products to your current customers, you have given them added value. Customers appreciate that and will reward you with return business.

JVs are one of the easiest and most successful forms of business partnership. When two businesses enter a JV agreement and agree to prudently control the financial risks and share resources, there is a high risk of success. Go get yours 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.

In our quest to develop the perfect small business, we as entrepreneurs often ask ourselves what we can do to make running a business easier.  We find we like to play our strengths, be it in sales or managing employees, and we spend less time on the tasks we despise, perhaps accounting or marketing.  By asking the question, we may discover that a joint venture is a perfect way to rid ourselves of the struggling tasks.

By performing a detailed search for the perfect JV partner, you may be able to make your business thrive by focusing on the business duties in which you excel.  But how do you find the perfect JV partner?  You may find one, a few, or even many potential JV partners, but before you start on the path to joint venture land stop to consider these important keys to identify the ideal partner.

1. Complementary Strengths

Remember, you may want to find an ideal JV partner who has strengths complimentary to yours.  You may want to focus on the sales portion of your JV while your partner focuses on marketing.  What good does it do you if you both want to perform the same tasks?  Look for a JV partner who can compliment your working style so you both get more done.

2. Similar Goals and Values

What are your goals and what do you value in business?  Profit?  Making a difference?  Producing jobs for local workers?  Be mindful of the goals and values of your potential JV partner because if yours and his do not align, you could end up with friction in the future.  A JV requires that both partners be on the same page as far as your goals and how you want to achieve them.

And in regards to sharing duties and profits on a joint venture, what do you value?  Do you both want a short-term JV for a specific project?  Or are you both looking for a long-term lasting and successful partnership?  Get those values and goals in line or a rocky JV you will have.

3. Compatibility

Similar to a marriage, you will need to be sure that you and your potential JV partner are compatible.  You may find that your potential JV partner is an independent soul who likes to work alone and do things their way.  How would that help your business?  Or perhaps you have a family and you want a JV partner who understands your commitment to spend time with your family as often as you can.  If you team up with a JV partner who expects you to burn the proverbial midnight oil to make the JV work, you may be incompatible as partners.

Take these three key aspects of a successful joint venture and consider them carefully when evaluating a potential JV partner.  By identifying an ideal partner at the onset, you will have a much easier time making your JV a 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.

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.

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.

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.

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.

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.