Maintain your old Siemens Hipath system

The Five Most Common Joint Venture Marketing Mistakes To Avoid

Joint Venture marketing has become a highly popular way for small businesses to maximize their profits. When two or more businesses combine their resources synergistically, it creates greater marketing impact and bigger profits than either can have alone.

Doing joint ventures has many benefits, but there are also many mistakes that can be made. These mistakes can be costly, not only in revenue, but in credibility with your client base.

These are not the only joint venture marketing mistakes made by small businesses, but as these are the most common, avoiding or correcting them will certainly put you on the right path.

Here are the five most common mistakes to avoid:

1. Not taking the time to ensure that your partner has great-quality products and services and a solid reputation.

When you choose a partner, it is imperative to choose one that has high-quality products and services as well as a good reputation within the industry. Sometimes, a company may look better on the surface than it really is. Your credibility is at stake if you partner up with a company that has sub-standard products and services or one that is popular for bad customer service. Do your research about your potential joint venture partners and review their products and services before endorsing them as these issues will reflect on you and your business!

2. Offering your partner too small of a deal

There has to be an incentive for your partner to engage with you, and offering too small of a deal won't make it worth their time and effort. Remember that endorsers with a large, targeted and loyal client base are the most wanted joint venture partners. They'll partner with others if you offer a percentage of the profits that's too low. So make this mental note... if they are worth pursuing, they are worth sharing the profits with.

3. Simply handing over your client list

This can constitute breach of contract with your clients if you have committed to their privacy. You've also worked very hard to build your client list, and this forms part of the value you have to contribute to the joint venture relationship. If you simply hand over your client list, you have no point of leverage.

4. Not devising an exit strategy

Even the best of relationships can go sour, or simply not work. Make sure you have an open door to leave the joint venture if for any reason it is not working out.

5. Committing to a long term relationship from the beginning, without testing your strategy first

Any joint venture should involve a trial period to see if profits will show a real upwards trend, or if the idea is a valid one. If you sign a long term contract, you may be stuck in a no-win situation with no way to escape. As with any marketing strategy, test in small numbers first, before rolling out fully.

Joint Venture marketing is very lucrative, and with some forethought and planning, can help springboard your business to new success levels. Just make sure to do your homework right from the start, and avoid these pitfalls to ensure high returns on your investment of time, money and effort.

Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved.

Note: You are welcome to republish this article as long as the resource box at the end is included fully and unaltered.

Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base and are tired of earning mediocre profits. The tips in this article have been excerpted from her home-study program, "Joint Venture Profits For Small Business Owners."

To learn more about this step-by-step program, and to sign up FREE for her revealing Mini eCourse, "The Easiest Way To Skyrocket Your Profits In 90 Days Or Less," visit http://www.profitdiva.com

In The News:

Satellite pictures show miles of queuing Russians fleeing Putin's order
Mon, 26 Sep 2022 19:55:00 +0100
New satellite images showing large numbers of Russians fleeing to Georgia and Mongolia have been released after Vladimir Putin's order to mobilise hundreds of thousands of reservists for the conflict in Ukraine.

Undersea 'blasts' recorded at same time Russia-Germany gas pipelines damaged
Tue, 27 Sep 2022 09:39:00 +0100
The Nord Stream pipeline network, part of which supplies Germany with gas from Russia, has been damaged in three places, its operator has said.

Chinese and Russian warships spotted off Alaskan island
Tue, 27 Sep 2022 04:24:00 +0100
A combined Chinese and Russian naval convoy, including a guided missile cruiser and a destroyer have been spotted close to an Alaskan island by the US Coastguard.

Qatar 'conscripting civilians and summoning diplomats from abroad' to do World Cup security
Tue, 27 Sep 2022 11:31:00 +0100
Qatar has called up hundreds of civilians - and summoned back diplomats from overseas - for mandatory military service to operate security checkpoints at World Cup stadiums.

Eleven children among 17 killed in Russia school shooting as wounded to be taken to Moscow
Tue, 27 Sep 2022 13:15:00 +0100
More than a dozen children wounded in a school shooting in central Russia are being transferred to Moscow for further treatment.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

The Secrets of?

A lot of advertising and mailings promise to reveal the... Read More

What the Heck is a Campaign and Why Do I Need to Do One?

Many people ask me, "What is a postcard campaign, exactly?"... Read More

Online Advertising Versus Traditional Media Advertising

Before I compare today's online advertising with traditional media advertising... Read More

Successful Surveys: 10 Tips for Better Results

Why would you use an email or online survey when... Read More

Marketing Tips - Ten Quick Marketing Actions

It is often difficult to manage to do marketing tasks... Read More

How To Market A Seminar

Have you ever left a seminar thinking: "I could have... Read More

The Biggest Needle In The Haystack

Hello everyone! Have you ever been curious about something, and... Read More

Stretch Your Marketing Reach

One of the most cost effective marketing strategies you can... Read More

Marketing Brain Trust

Rest assured that no matter how smart you are, you... Read More

A Simplified Marketing Plan that Works!

When I started my first business in 1981, I researched... Read More

Top Four Marketing Secrets of Building a Professional Practice

Building a coaching or consulting practice can be rewarding and... Read More

Getting Personal ? Innovative Marketing for Small Business Owners

The small business marketing strategy you can't afford to miss... Read More

Why Referral Business Is So Valuable

With so much money invested on innefective advertising, it's time... Read More

Increase Sales With Travel Incentives

Today's business environment has changed dramatically over the past 10... Read More

How Gratitude Works

Want to know what the highest-impact, lowest-cost tool is in... Read More

How To Market Effectively Even If No One Understands What You Do

So how do you effectively market your product or service... Read More

D.A.N.C.E. With Me

Recently, a client asked what he could do to help... Read More

Perceived Value Is In The Eye Of The Beholder

Q: My partner and I are having a hard time... Read More

Consumer Thinking And Search Marketing

12/20/04According to a recent article by ComScore Networks, about three-quarters... Read More

How Important is Your Marketing?

Bob called last week from Phoenix, Arizona with some stunning... Read More

A Look at Brochure Printing Services

A brochure can be a wonderful promotional tool for a... Read More

AIDA From A Different View - I Call It the 5 Ws

My childhood was my foundation for how I write and... Read More

You Cannot - Not Market

Everything you do - or don't do sends a message... Read More

Your Marketing Message

Your message is first among your weapons in the battle... Read More

Marketing Strategies: What Choices Do You Have?

Most business people want to see improvements in sales and... Read More