06 Apr 5 Reasons to Form a Joint Venture
What exactly is a joint venture and why should you do it?
A joint venture (JV) is when you collaborate with another person or company to share your expertise and also any revenue created.
Interviewing top experts or being interviewed is a wonderful service to offer to your list, plus it can be profitable for you if you promote each other’s products and services. You can promote such interviews to your list and have it reciprocated by your JV partner, which will build your list of contacts. You can also promote these interviews via social media marketing.
Still not convinced? Here are five great reasons to form a Joint Venture:
1. Expands your audience. From a list-building perspective, a good JV will give you exactly what you want: a (fast) new audience of people in your target market.
2. Increases your credibility to your community. Yesterday’s expert paradigm is long gone – today instead of broadcasting your message it is much more valuable to rub elbows with other experts in your niche.
3. Spreading costs. You and a JV partner can share costs associated with marketing, and other expenses, reducing your financial burden.
4. Access to new markets. You can combine customer contacts and together even form a joint product or service that accesses new markets altogether.
5. Strategic move against competition. A joint venture may be able to better compete against other industry leaders through the combination of markets, technology, and innovation.
Idea Associates has proudly collaborated with many other experts in the industry, including ULI, Barrett Design, Inc, Market Solutions Group and more. Let us help you find your perfect partner to grow your business today!