Joint Ventures

Heling Each Other

by Susan Schaffer

Look for two separate online businesses who's products and/or services complement each other. Explain to them how they could combine and make their profits grow. They may already share links with each other and therefore realize the benefit of joint promotion so that's half the battle or two offline businesses that would compliment each other such as a restaurant and a movie theater, this is already being done in many areas. Think of all of the people that eat out before or after the movie anyway- think "date night."

If you are strapped for cash but want to create a really good website, approach a college student who is studying the computer field. Explain to him that you have a really good product but don't want to develop the website yourself. Offer to the person a percentage of the profits in exchange for his design.

No two businesses have exactly the same customer base, advertising methods, or ideas unless they already in this kind of partnership. Why not learn from each other, share resources, and both increase sales! You may already be doing this by posting another owner's link. Since the other person may not be familiar with your product, it is a good idea to exchange testimonials because customer satisfaction is a wonderful selling point.

If you want to approach a big business you may want to first meet with a manager of the local store and then suggest that (s)he take the information back to the district manager. It may mean more coming from that person, who is already a trusted name with the store, rather than you.

Writing the letter of intent:

How I Can Help You:

  1. Tell me about your business. What are the products sold? What are the services?
  2. What are you already doing to in terms of a partnership? Do you have links?
  3. What are some ideas you have? What else would your customers be interested in?
  4. How can you combine your skills, abilities, products, and resources to benefit you?

* You don't have to have anything but desire to make more money than you have now.

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About the Author

Susan Schaffer has a masters degree and is eager to share knowledge and ideas with others.

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