How to Make and Maintain a Successful Joint Venture

Going on a joint venture with big-time business partners is probably one of the best investments you’ll ever make. After finding a potential joint venture partner, take some time to warm up and strive to build trust first to become business partners. The best way is to make them your friend, go to their events, comment on their blogs and YouTube videos, and so on. Once you’re able to build rapport, the rest should come easy.

1. Prepare your swipe copy before time-How do you start a conversation with a potential Joint venture partner? Do you go straightaway and throw up all information over to them and tell how great your business is and why they should be partnering up with you? That’s probably not going to work. 

You need to have your swipe copy that’s been tested and re-tested multiple times ready at your disposal. Remember, after many years of creating and curating thousands of swipe copy, we’re able to come up with some of the most effective email and social media series across multiple industries from real estate, restaurants, hair salons, auto industry, etc. in our Small Business Dream sales and marketing automation software.

2. Keep those follow-ups rolling- Follow-up seems a bit like a chore, but you cannot underestimate the importance of follow-ups when trying to land into a joint venture business with successful business owners, industry experts, and influencers. Simply strive to keep their interests at an increasing rate. After making that initial connection on LinkedIn or email, then offer them some of your free content such as e-books, blogs, YouTube posts, or video recordings of your recent webinars. Time your follow-ups appropriately. 

3. Always keep your Joint Venture partner happy- You’ve spent a lot of time and energy in finding your perfect Joint Venture partner so now it’s in your hand how you develop the best interest to keep your relationship strong. It’s especially important if you’re aiming for high-volume sales, repeat customers, or if you’re dealing with high-ticket purchases like auto and real-estate from your JV’s long list of potential customers. Be clear on your terms and conditions. Don’t overdo it. In most cases, a simple agreement between you and your JV partner will suffice.

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