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Suggest You - Joint Ventures - Part I
Customer Service – Customers Serving Customers? their part to implement.Did you know that an online business forum could pay significant dividends in customer service?Customer service is a very important aspect of your online business. Some businesses err on the side of too little interest shown to customers while others can be extremely overbearing and smother a new client until they consider a restraining order.There is a middle ground that can show your cus v The additional profit center will not incur any risk whatsoever on their part. v You will perform all of the leg work to set it up. v They can stop at any time for any reason. There are so many potential JVs that are possible that there’s no way to cover every conceivable Portable Trade Show Booths Joint ventures (JVs) are one of the best ways to lure new leads and customers. By partnering with other businesses whose customers are part of your market, you have an additional profit center of incremental income. For example, an attorney can refer his clients to an accountant, and the accountant in turn refers clients to the attorney. It’s a win/win situation, because many times a new business will need both an attorney and an accountant. Depending on which one they approach first (the lawyer or accountant), they’ll be referred to the other.One good reason for getting a portable display trade show booth is because it can save you a lot of money without compromising on the goal that you plan to achieve with it.Transporting a conventional booth can be a rather expensive proposition; opting for a portable one can many a times be a sensible option. Shipping costs for big and heavy tradeshow booths can get uncomfortably high, unless the JVs can go much further than this simple arrangement, however. They can be very complex, and there can be 3-way deals going on. In fact, JV brokers make their money by taking a slice of the profits between two or more different businesses, where he has brokered the deal and set up everything between them. The key to making these deals work is to make sure that you let a prospective JV partner know from the start that: v You’ve discovered an additional profit center for them that they are probably unaware of (offer projected profits, if possible). Take the Test: Do Your Marketing Materials Really Grab Attention? the attorney. It’s a win/win situation, because many times a new business will need both an attorney and an accountant. Depending on which one they approach first (the lawyer or accountant), they’ll be referred to the other.Today’s constant bombardment of marketing messages means your materials must grab your prospects attention in the first few seconds, or your efforts are wasted.How do you know if your marketing materials will prompt prospects to keep reading? Take this simple test: hold each of your marketing pieces at arm’s length and answer the following questions:1. Got white space? If your mate JVs can go much further than this simple arrangement, however. They can be very complex, and there can be 3-way deals going on. In fact, JV brokers make their money by taking a slice of the profits between two or more different businesses, where he has brokered the deal and set up everything between them. The key to making these deals work is to make sure that you let a prospective JV partner know from the start that: v You’ve discovered an additional profit center for them that they are probably unaware of (offer projected profits, if possible). Conducting Performance Reviews ere can be 3-way deals going on. In fact, JV brokers make their money by taking a slice of the profits between two or more different businesses, where he has brokered the deal and set up everything between them.First of all, if all you ever do is an annual performance review for your employees, they are worthless. Put every last one of them in a big pile and burn them. The scenario of annual performance reviews often goes like this;“I have nine reviews I have to get done by the end of the month. I feel more pressure about completing the review than I feel an obligation to the employees to let them know The key to making these deals work is to make sure that you let a prospective JV partner know from the start that: v You’ve discovered an additional profit center for them that they are probably unaware of (offer projected profits, if possible). A Surefire Way To Get Your Company In The News that:Write your own article.Okay, that might sound a bit too easy. Yet with the possible exception of public speaking, nothing establishes your business credibility like penning an article with your name and company in the byline. Yet even with all the content-starved publications out there, very few businesses take advantage of this golden opportunity.The answer why is quite simple: most busin v You’ve discovered an additional profit center for them that they are probably unaware of (offer projected profits, if possible). Are Meetings Killing Your Business? their part to implement.Too often in my many years toiling in the Corporate world I had to sit through poorly facilitated meetings that started late, ended late and had no clear stated purpose. Starting my career in the early 1980's, as a Professional Purchasing Agent, I was fortunate to have been trained in Kepnor-Tregoe methodologies at a time when the organization I was working for was investigating 'Consensus Decision Maki v The additional profit center will not incur any risk whatsoever on their part. v You will perform all of the leg work to set it up. v They can stop at any time for any reason. There are so many potential JVs that are possible that there’s no way to cover every conceivable one here. So instead I will give some examples. Some of them may be applicable to your business. Some may not. And, like the accountant and lawyer example I gave above, it’s not feasible for me to cover every type of business. Therefore, you should look at each example and see how it may apply to your business. These examples are designed to get you thinking creatively. By no means is this an exhaustive list. It’s designed to put you in the right mindset, where you will look at your business and others around you and see possibilities that you never noticed before. A great course on JVs is the JV Mastery Course, by Jay Abraham and Marc Goldman. It may be out of print now, but if you can get a hold of it, I highly recommend it. If you have it, you may recognize some of these examples from the course (no need to reinvent the wheel here). Others are variations and some examples that I have personally done. One Tip: If you try to set up a JV with a business, and they already have a deal in place with someone else, you can take that information to their competitor and say “Your biggest competitor is already doing this.” And if your partner ever decides to stop the JV deal, you can go to their competitors and say the same thing (Hint: if you let them know you are going to do tha
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