Eight Ways to Find Joint Venture Partners
There are a number of ways to find potential joint venture partners, what we will look at here is some ways of doing this.
- Advertise in local press.
This can be an easy way of attracting some interest, local press generally are desperate to generate revenue, therefore if you leave it until just before the deadline this can reduce the price of this form of advertising! Make sure that your advert is specific and also to the point and explains exactly what you are offering.
- Direct mail.
Direct mail can be a relatively inexpensive way of advertising if you use it correctly.
You need to stimulate some kind of a reaction from the business owners, so use a provocative strapline, not too provocative though otherwise you might upset potential clients! Also make sure that you get the contacts details correct, a miss-spelling of a first name could seriously harm your chances.
- Recommendations are the best way to build any business, therefore if you have anyone who has used your services in the past, or even existing customers, either ask them to promote you to their contacts, but also consider the potential of offering a revenue stream, either upfront or residual.
In this money grabbing world in which we live, cash does talk volumes! - Friends and family are the best referrals as you already have a relationship, so consider that uncle who you may not have seen for a few years with a building business in Glasgow, would he want more leads? Of course he does! However, don't just stop at friends and family, what about their extended network, this can be equally valuable if a proposition is presented correctly.
- Former employers can be a contentious issue, however if you left your former employers on good terms why not drop them a line? The worst that they can say is no!
- Telephone marketing is another great way of generating leads, if you are to do it yourself, get a script so that you know exactly what you want to say, but also make sure that you have the correct contact for the type of proposition that you are offering.
Consider who this position would be in most companies and then hunt them down! Outsourcing of telephone marketing can be a good choice, but can also prove to be extremely expensive, so set budgets carefully before doing this.
- Leaving flyers in shops and restaurants can also work, people will sometimes pick these up and you can get a box of flyers printed for a very low amount.
- Networking events can be a great way to meet potential new clients, there are a huge number of different events so you need to make sure that you are attending the right ones, but this method can rapidly increase the number of contacts which you have.
It's not for everyone, but for the right people this can generate significant revenue.
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