What Has Networking Got To Do With Joint Ventures?

Written by Habiba Abubakar

What has networking got to do with joint ventures? “PLENTY” isrepparttar short answer to this question.

Networking is a very important element of joint venture marketing becauserepparttar 145076 more you network,repparttar 145077 more you meet potential partners and build relationships that lead to profitable joint ventures.

Your network of business associates, vendors, family and friends, plays a big part when it comes to implementing your joint venture marketing strategy. This is becauserepparttar 145078 most successful partnerships are with people you know, like and trust, and vice versa.

Of course, many profitable joint ventures have taken place between partners that have not known each other for long, but any “cold” contact you meet would need time to evaluate your character and your business, before committing to a partnership with you. Sometimes this could take a few weeks, and other times it may take up to a year.

Before joining organizations or associations in your markets, do your homework to identify which ones are most likely to produce results aligned with your business goals. Make sure you keep in close contact with those in your network. Send thank you cards, meet for lunch, make brief phone calls, remember birthdays, and ask them to subscribe to your newsletter.

Five Joint Venture Marketing Skills A Small Business Owner Must Have

Written by Habiba Abubakar

Joint venture marketing is a lucrative way of leveragingrepparttar assets of two or more businesses. It isrepparttar 145075 fastest way for businesses to achieve certain business goals and benefit their clients atrepparttar 145076 same time.

Forrepparttar 145077 joint venture partners, this usually translates into more visibility, more clients and more profits than they could create on their own. Forrepparttar 145078 clients,repparttar 145079 benefits include saving time, saving money and getting added value fromrepparttar 145080 businesses. These arerepparttar 145081 reasons behindrepparttar 145082 popularity of joint ventures.

For any joint venture project to be successful,repparttar 145083 partners must possess certain skills that are required to chooserepparttar 145084 right deal,repparttar 145085 right partners, and to promoterepparttar 145086 project effectively. I’ve outlined a basic skill set consisting ofrepparttar 145087 five most important attributes below:

1.The ability to nurture client relationships

People buy only from those that they know, like and trust. You must therefore keep in touch with your clients on a regular basis in order to nurture your relationship with them and turn them into loyal clients. Apart from earning their trust, this will also enable you to determine what offers they’ll respond to and when to offer a certain product or service. Without a loyal client base,repparttar 145088 response rate will be very low when you endorse a product or service.

2.Creativity, andrepparttar 145089 ability to “think outsiderepparttar 145090 box”

Every new joint venture project that you initiate will be different, and therefore deserves a different approach. The ability to apply fresh new ideas is very important in making sure you presentrepparttar 145091 joint venture inrepparttar 145092 best possible light. Creativity comes in handy when creating irresistible offers and proposals, when decidingrepparttar 145093 compensation plan, and duringrepparttar 145094 negotiation phase.

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