Joint Ventures - Part II
Sell an Idea A lawyer knew how to make a million dollars in a year with one person and three associates. Since many attorneys dont make that much, he codified his knowledge and had someone sell it. A realtor had a list three times better than anyone else, so she trained other realtors for a fee. A lumber mill knew how to kiln dry wood and get greater quality wood in less time with half the energy cost, saving him millions of dollars. He taught his techniques to other lumber mills. If theres something remarkable about your business, or something you know how to do better than 99% of everyone else, you have an opportunity to license or teach your skills to others.
JV With Your Suppliers Your suppliers generally want you to be more successful, since it means more sales for them. They may fund sales people, mailings, extra staff, etc. Youll never know unless you ask them.
Seek Out Other Business That Cater to Your Market I used the lawyer and accountant example above. A realtor may JV with moving companies, custom framers, carpet cleaners, pest control services, lawn care companies, painters, electricians, plumbers, the list goes on. Just be sure to JV with those businesses who have products and/or services your customers may need (i.e. a realtor JVing with a video game company doesnt make much sense).
Make a list of businesses who want and need a constant flow of leads: lawyers, doctors, dentists, realtors, home remodeling services, carpet cleaners, pest control services, etc. Broker deals between them where there is a fit to generate leads.
to be continued....
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