Growing your business with Joint Venture partners

Growing Your Business with Joint Venture Partners

One of the last known ways for small businesses to compete against their bigger competition is through Joint Ventures. Here are some great ways to win new business using Joint Ventures:

1. Borrow customer lists of people who have the same type of buyers as you do and send out special offers to these buyers.

2. If you have a type of business that lends itself to repeat and recurring purchases, offer to give 100% of the profit to the referring business for new customers and build your own database.

3. Contact people and businesses that run ads for services that serve the same type of buyers as yours, and offer to buy the leads of the people who inquired, but didn't buy. These same people may buy your product or service if it meets their needs.

Are you coachable?

I consulted a client recently who is in the restaurant business on how to increase profits. He has been through multiple up and down times in the market and as the economy continues to swing downward his restaurant has taken a hit lately, but he is still thriving while others are failing. I suggested something to him which he had never heard of in his industry, which was simply to contact the owners of the restaurants outside his county and offer to coach them or advise them on the tips and techniques he uses every month to stay in business during the recession. He tried it and is now getting paid $200 a month by the owners of different restaurants for about two hours a month of giving advice. He has multiple restaurant owners paying him and the profit is just about 100%. A simple concept that will easily add another $20,000 to $30,000 to net profits.

How to use joint ventures in business on Squidoo

How to use joint ventures in business on Squidoo

3 Great ways for a small business to get quick cash

If you are a small business owner that is worried about the economy this year, here are 3 great quick ways to bring in more cash.

First- Look at your business and ask yourself: How can I get my current customers to come in and buy right away to produce a quick infusion of cash into my business? Can you contact them by phone, mail or email and offer a "preferred clients only" sale for one day only and offer some really great deals for a 4-5 hour period, while they are there you can sell much more of your regularly priced merchandise as well as cross promote another business through coded gift certificates that you can share in the revenue when they shop at the other persons business.

Second- How about if you have customers that have access to things you need like advertising, printing, office supplies, etc that you can trade your merchandise for at full retail price and get the benefits of these things needed for the business without the cash expenditures.

Third- How about partnering up with several businesses and doing a co-op mailing to all the houses within 3 miles of the businesses with a special sales event and share the mailing costs among all the businesses. For this type of event, you can use free publicity such as have a remote radio station broadcast there and have events such as a car show, clowns for the kides, etc., whatever it takes to draw crowds of people to the stores to spend money.