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How Joint Ventures Can Catapult You to Success
by Michael Angier
Substantial opportunities for
increased sales and profits are
missed by not seeking out and implementing joint ventures.
Strategic alliances also create value for the customer
and save
money and build future relationships for the partners.
They don't have to be complicated, and they can be
negotiated
and launched quickly.
First, a quick and simple example. A bank that sends its
statements out each month is approached by a ski resort. The
resort offers an exclusive introductory discount to the bank's
clients. 1. The bank gets to look good by offering something of
value to their customers at little or no cost to the bank. 2.
The customers save money and hopefully become long-time
customers. 3. The resort gains exposure and potentially new
guests--with no mailing expense.
That's called a triple win.
All it takes is a little imagination and the commitment
to make
it happen. The potential is substantial.
And they're fun. They provide some diversity and variety
that
makes work more interesting.
Begin with giving more than you expect to receive. What
can you
offer another company? What can the other company provide that
you don't have--or would be expensive to obtain? A little
brainstorming, some planning and some follow-through, and you
can easily create a profitable joint venture.
Do it once, fine tune it, and then do it again with the
knowledge and experience you've gained.
The possibilities are endless.
The joint ventures you don't seek out and execute
represent huge
sums left on the table.
Put together a project team this week. Generate ideas on
how and
with whom you might partner. Create your triple win.
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Copyright Michael Angier. SuccessNet.org and
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How Joint Ventures Can Catapult You to Success
By Michael Angier
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