How to choose your joint venture partners wisely
In an effort to build your business, joint ventures can make a tremendous impact. Working with other like-minded people can open doors, build your list and help you get clients faster than you ever could on your own.
With that said, sometimes you do meet people who make you wonder about working with them. The truth is, not everyone will be a good fit for creating valuable partnerships.
Choosing Your Partners Wisely
1. Serve the Same Target – A good partnership is one where you both work with the same target audience, but offer different products or services.
2. Similar Size List – Working with people who are doing as well as you are, with a similarly sized list or slightly bigger, makes good sense when it comes to picking a partner.
3. Aligned Values – When interviewing potential partners, find out how they do business and what their underlying values are. You’ll work better with someone who is like-minded and shares you values and integrity level.
4. Good Reputation – If you are thinking about someone local, you have the advantage of asking people you know about the person. Should questionable reports come back, that is something to take into consideration. Your partner’s reputation will impact you, so consider carefully.
5. Trust Your Gut – I always advise students to listen to and trust their gut. Often your instincts are right on target, so do not ignore any inklings you may have.
Your Client Attraction Assignment
When seeking joint venture partners, one thing that can make the process easier is to create a checklist for yourself. What do you need to know about a person and their business to help you decide who is a good fit? Then you can assess each potential partner with the same criteria, to make your efforts more efficient. You may need to talk to many business owners to find that right match who can help you get clients.
This is just one of the many best practices we dive deep into with the students of The Client Attraction Business School, the premier training school for growth-minded entrepreneurs looking to quickly attract more clients and make more money. If you’re interested in finding out more, visit www.ClientAttractionBusinessSchool.com for more details. To speak to an enrollment advisor, click here.