In the online world, it's easy to start joint ventures.
With the advent of affiliate marketing, setting up joint venture deals are a walk in the park.
But what about the offline arena of joint ventures.
Is it hard to establish a joint venture deal with a similar business in your neighborhood? More than likely, the answer to this question is no.
Setting up JV's in the offline world can be easy also, you just have to know how to approach a potential partner.
The first thing that you will want to focus on is your proposal letter.
Your partners are busy people, so it's important that your letter does the job of getting them interested in your proposition.
Have a short headline at the top of the letter and write a very compelling direct mail letter that goes over the benefits of why they should do business with you.
Now it's important that you don't select the wrong group of people to offer a joint venture to.
For example, if you're a chiropractor, you don't want to ask another rival chiropractor if they want to team up and do a joint venture.
This just doesn't make sense.
The goal is to run another rival competitor out of business, not to help them stay afloat.
Plus, you're putting yourself at risk by potentially giving them access to your customer database.
Instead, brainstorm on local businesses that could be a good candidate for your proposition.
So if you're a chiropractor, consider starting up a deal with a local fitness gym in your area.
You could offer some of your services to the members of the gym, that will prevent them from acquiring any injuries from working out.
This is just one idea but hopefully you get the picture.
Once you have found a good partner to do business with, it's time to structure the details of the deal.
Preferably you want to offer your partner at least 50% of the sales that come through.
One of you guys will have to have the product or service, and the other person will have to have the list.
If the first attempt of mailing out to customers is a success, run the campaign again for additional profits.
The good news is that you don't have to stop running these joint venture deals.
I know of some business owners who run JV after JV and it's the only thing that they do in their business.
You can do the same also.
Joint ventures can be a pivotal part of your business if you allow it to be.
You probably won't make a million dollars per year from this technique alone, but you can certainly earn 5-6 figures on autopilot each month.
Keep these tips in mind when laying out the details of your JV plan.
It will be more than worth it.
Good luck with marketing your business.