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3.Simply handing over your client list
This can constitute breach of contract with your clients if you have committed to their privacy. You’ve also worked very hard to build your client list, and this forms part of value you have to contribute to joint venture relationship. If you simply hand over your client list, you have no point of leverage.
4.Not devising an exit strategy
Even best of relationships can go sour, or simply not work. Make sure you have an open door to leave joint venture if for any reason it is not working out.
5.Committing to a long term relationship from beginning, without testing your strategy first
Any joint venture should involve a trial period to see if profits will show a real upwards trend, or if idea is a valid one. If you sign a long term contract, you may be stuck in a no-win situation with no way to escape. As with any marketing strategy, test in small numbers first, before rolling out fully.
Joint Venture marketing is very lucrative, and with some forethought and planning, can help springboard your business to new success levels. Just make sure to do your homework right from start, and avoid these pitfalls to ensure high returns on your investment of time, money and effort.
Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved.
Note: You are welcome to republish this article as long as resource box at end is included fully and unaltered.
Joint venture specialist Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base and are tired of earning mediocre profits. To sign up for your FREE copy of her revealing Mini eCourse, “The Easiest Way To Skyrocket Your Profits In 90 Days Or Less,” and to receive other FREE marketing resources, visit http://www.profitdiva.com