Joint ventures work both on and offline. If your entity has any presence at all in its universe you may have either been invited to join or you may have approached others to join in a joint venture.
Earning profits from joint ventures bring lots of happiness so if you think you have a good product go look for a win-win deal with the right partner.
JV's are like a good marriage. With the right partners they work great so be careful about what you are offering.
The other company will be taking a very close look at what you are offering. They want to make profits too but they don't want poor quality products or service to damage their standing in their business community.
Not every company you approach will readily grasp the joint venture approach or fully appreciate the benefits of them. When this occurs put on your salesman's cap and and show them how joint ventures can make them profit happy.
The best way to convince a joint venture partner of its benefits is to give the partner the majority of the profits produced by the endeavor. This will demonstrate your sincerity and build a trusting relationship for future happiness.
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Monday, March 30, 2009
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