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29 Examples of Different Types of Joint Ventures

Overview: 29 practical examples of joint venture relationships and partnerships.

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Reciprocal Arrangements:

1. Exchanging Brochures: This can be especially lucrative for storefront-types of business. Arrange for you and your partner to place eachother's brochures on counter-tops, in shopping bags, in mailings, with billing receipts and so on.

2. Exchanging Leads: Check to make sure that this is legal and ethical in accordance with their "opt-in" terms, online or offline. If you're unsure, don't exchange leads, but rather arrange an endorsement instead. Wherever possible, set up some sort of "opt-in" co-registration as opposed to simply using someone else's "list".

3. Exchanging Online Links: Driving traffic to eachother's sites can often create additional business for practically no effort at all.

4. Cross-Endorsement: Whether through mailings (solo ads), product reviews or simply "referring customers" casually, cross endorsement still remains a very powerful way to leverage the day-to-day contact another business has with your market.

5. Bonus / Loyalty Endorsements: Reward your customers by providing them with some sort of "special deal" from your JV partner, have your partner reciprocate something similar on their end...

6. Trading Services: You can simply trade one service/product for another, for example, a hot tub retailer "paying" a construction firm with a new hot tub instead of cash for building renovations.

7. Trade Testimonials: Review eachother's products, then display the reviews on your marketing materials.

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Integrated/Co-Managed Arrangements:

8. Sharing Ad-Space: Cut your marketing expenses in half by sharing ad-space or promotional events. (This includes sharing trade-show space).

9. Sharing Office-Space: Do your services compliment eachother? Would your customers naturally buy your partners products as an addition to yours? Perhaps sharing space would help both of you to save on overhead expenses.

10. Sharing Research & Development Information: If your JV partner is someone that you trust - and they're not a "competitor" - then combining "intellectual assets" can provide astounding results in some cases.

11. Co-Producing Articles and Press Releases: Leverage eachother's contacts in regards to other JV prospects, editors, columnists, freelance writers and otherwise media contacts. Create a series of PR's and Articles that provide neutral mentions for each of your services in some way...

12. Co-Producing Publications: Such as websites, magazines, trade journals and so on.

13. Co-Producing Products and Projects: Sharing costs and effort on product research, creation and testing could very well outweigh the "cost" of sharing profits.

14. Co-Hosting Events and Seminars: Such as industry focus groups, info seminars, courses and consulting presentations.

15. Joint Authorship: Save time and reach twice as much of the market (or more).

16. Product Bundling: Integrating products, or adding JV products as an upsell or "option" is an extremely powerful way to leverage the assets of another business in a truly beneficial manner.

17. Not-for-Profit Associations: While many NPA's and similar organizations, such as charitable groups and state bars (legal), do have "partner programs" and "corporate sponsors", often times it's more effective to ally one's business with them in a unique way. For example, providing exclusive services for their members, donating gifts to give away and perhaps helping their operation by way of consultation and other assets.

18. Ally "For a Cause": Joining forces with a "cause"-related group can often be extremely lucrative in terms of free exposure and goodwill. However, this can potentially be very detrimental if the "cause" is too extreme or misrepresented. Use caution.

19. Co-Producing Incentives: Co-create a coupon directory or a similar database of "special offers" that your market would appreciate.

20. Co-promoting viral marketing items: Such as compelling mini-courses, ebooks, audio interviews and so on. This especially applies to info-products and downloadable online media.

21. Shared Investments: Sharing costs of buying assets and investments. (Take extreme caution)

22. Shared Venture Capital: In some cases, it may be easier to get funding for a joint-project or a "larger operation" from funding groups and investors. (Take extreme caution).

23. Expert Services in Exchange for % of Profits/Revenues: Such as engineering, programming, consulting, designing or construction - instead of charging per "job", the technician will earn a residual (ongoing) income.

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Endorsements and Promotional Arrangements:

24. Direct Endorsement: This includes endorsement mailings to client/prospect databases, mass notifications or ezine announcements - in exchange for a large portion of up-front profits (sometimes backend as well).

25. Ongoing Endorsement (Affiliate): This involves direct and indirect referrals in return for a commission on any resulting sales processed. This is done both offline (as a "rep"), or online as an "affiliate".

26. Marketing or Promotion in Exchange for % of Profits/Revenues: Consultants often arrange a share of revenue generated instead (or in addition) of consulting fees.

27. Indirect Endorsement: For an example, an author that mentions a company in his/her book may arrange to collect referrals based on trackable sales from that mention.

28. Paid Endorsement: This includes endorsing a product as an affiliate through classified ads, pay-per-click ads and other forms of advertising. (Note: Ensure that your ad copy will produce sales before investing in advertising).

29. Product Reviews: Reviewing a product "objectively" can be very powerful in terms of generating sales from prospective buyers that are researching their purchase (or looking to justify it). The reviewer will act as an affiliate and get paid for referred sales.

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I've listed only a few examples of JV partnerships in comparison to what is truly possible, even for your business.

Be creative, and purposely think about how you can reach more customers, grow your profits and benefit someone else in the industry by partnering with a complimentary business.

Take action today!

- Chris Rempel, JV-Web.com

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Highly Recommended:

"A 'Paint by Numbers' Blueprint for Creating One Profitable Joint-Venture After the Next..."

- Dr. Mani Sivasubrmanian
EzineMarketingCenter

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