Joint venture

 

Joint ventures are a great and powerful way to steady your business and make your income grow quickly. It is called a "joint venture" when businesses work together to share knowledge and profits. Under these arrangement you develop a relationship with your customers and refer them to another business; the business owners will do the same for you.

If the business that you recommend makes a sale owing to your referral, you receive payment as "part of the sale." This works the other way as well. When you make a sale as a result of a referral from a joint venture partner, you give them a predetermined payment.

 

Looking for joint ventures

Once your business is ready, your plan is to look for qualified and related businesses.

Then after finding some businesses that you want to work with, you have to contact the owners by sending them an e-mail explaining who you are and telling them about the joint venture idea. It is free and involves no risk, and it can help both of you.

An example of joint venture letter: 

Dear friend,

My name is [your name]. I just visited your Web site at [enter URL] and I was impressed by the quality of your site and your product.

 I am selling a related product. I would like to offer you a free sample of [product name] and invite you to visit my site at [URL]

I would also like to discuss with you the possibility of a joint venture between our companies, so that we can significantly increase profits through mutual cooperation.

Please e-mail as soon as you can.  

Sincerely,

[your name]

[your e-mail address]