Tweet

Synergistic Relationships ~ Joint Ventures

Written by: Robin Elliott

Article Overview: Everything you need is already available when you utilize Joint Ventures to create synergistic relationships. Even your competition can be your strongest allies.

Synergistic Relationships ~ Joint Ventures

Last night, my friend, Jos told me that when African elephants stand along the bank of a river to drink water, they instinctively adopt a very considerate and practical approach. Those who stand upstream wait until last to drink. Those furthest downstream first drink, then wash themselves in the river, so that the mud doesn’t affect the other elephants. Then the next one drinks, and so on, one by one, upstream. In this way, everyone gets clean, clear water to drink and bathe in. Teamwork makes the dream work.

Then Jos told me about deer on steep mountain trails here in British Columbia. Evidently, when a deer is about to pass another on a narrow, slippery and treacherous trail, the deer at the highest point stops and waits until the other deer has passed. This is to avoid slipping and pushing the other deer over the edge. Some small minded, egotistical business owners seem to relish the prospect of pushing their competition “over the edge”, as it were! Smart entrepreneurs, on the other hand, realize that their competition can be their strongest allies.

Did you know that 20% of the revenues of large, Fortune 500 and International 2,000 companies come from Joint Ventures? And that a massive 50% of those Joint Ventures are with their competition? Amazing, but true. The best entrepreneurs create powerful, win/win strategic alliances and share resources, distribution and access. Wal-Mart established themselves in Mexico in a fraction of the normal time by joint venturing with an existing Mexican company. I once grew my revenues in one of the profit centers in my business from $4,000 to $20,000 in four days using a joint venture. It would have taken me four years on my own!

Together, we can do amazing things. We don’t have money problems; we have thinking problems. Everything you need is already available when you create synergistic relationships, in any area of life – not only business. Unity is strength. United we stand, divided we fall. The key to success is linking up with the right people. We started the DollarMakers Joint Venture Forum to link successful professional entrepreneurs, and it works magnificently. By being very selective and educating ourselves, we team up to reach our goals and create value, just like elephants and deer.

Related Articles
  Joint Venture and NonDisclosure Agreements
  The Importance of Joint Ventures
  Advantages and Disadvantages of Joint Venture
  Funding Resources
  Joint Venture

Article Tags:



Related Forum Posts
Joint Ventures?? - I read this following paragraph in another business forum. Has anyone used joint ventures and had successful results? How do you go about setting up joint ventures? [quote:3vnvuml9]Joint Ventures have been, and always will be one of the most powerful marketing tactics ever, and for good reason. They are easy to set up, and they cost you nothing and if set up correctly will allow you to have more customers than you can handle! So if you promote a great product or service and want to expose it to more prospects, or you you seek ways to increase your sales, but aren't quite sure how to go about it you should definitely consider harnessing the power of Joint Ventures And the best part is that anybody can start using joint ventures to skyrocket their profits. It doesn't matter what you sell, or where you sell it.[/quote:3vnvuml9]
Re: Marketing a company - Get their contacts from someone who had been marketing to them before and do Joint Ventures with the guy
Free Ebook on Joint Ventures - Julie, you might be interested in the free ebook offer through Dollarmakers.com on Joint Ventures that has upto 30 variations for a small business to create joint ventures. Once you've read it I'd be happy to share more advanced ideas based on the book.
Different types of funding - Business Relationship Funding This is another source of funds that can be overlooked. It may be possible to introduce potential alliances to add value to both parties. It may produce an ultimate exit route in the medium to long term. Joint Ventures: Requires a legal agreement embodying the deal and another company Partnerships: Two companies collaborate with possible funding. Joint working relationships: These are an informal partnership which may be more project specific where the parties can share resources. Agencies: These can be geographical or product specific and generally incorporates a payment for the right to the agency. Distributors: Very like an agency but may not necessarily involve up front payment. Alliances: These do not require a separate company and can be embodied by a legal agreement to work together. Trade investors: Otherwise known as Corporate Partnering. This can be a good way to involve a much larger company in the business with a view to possible trade sale further down the line. Associates: This can be a loose arrangement with no fundamental commitments either way, rather like a preferred supplier. Equity Swop: Two companies exchange shares to a similar value to develop both businesses. Franchises: This can allow the business to grow without further direct investment. Licensing: This involves licensing a product or service to enable others to sell it. This requires you to own the intellectual property.
Joint Venture - How did the seminar go yesterday? Joint ventures can open up so many possibilties and are a great way to promote your products and/or services to a whole new and with the right base, to a targeted audience. Chris


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

What Is The Foundation for Your Vision?

How to choose your executive coach -1

Executives and Elevators Perfecting That Pitch

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.