Friday, October 3, 2008

Joint Venture Partners and Where to Find Them

I read a book called Acres of Diamonds many years ago? The most obvious place to start looking is your own back yard. This story is very well explained in Acres of Diamonds.

So the first place I would look for joint venture partners is in my own back yard. Think of your own customer database or mailing list. Your existing customers are a great place to start looking for joint venture opportunities, after all, they already trust you. Your strong relationship is virtual money in the bank, by giving people great service you can open up lots of opportunities.

Magazine Publishers
Focus on the smaller or niche magazines and you will find a rich resource of hungry publishers who will often be open to a carefully crafted joint venture. It's the same with people who distribute newsletters on line or printed material off line. They can be a great source for big databases of potential customers for you.

Your library is a virtual goldmine of good quality research material. There are reference books available that show you the numbers of members. In the USA and Canada you can review They have around 75,000 newsletter for you to explore. There is a cost involved with this service so do your sums first before subscribing.

If you are based in the USA you can use Standard Rates and Data Services In the UK you can go to a list broker like Marketing File I wouldn't personally go out and buy a big list from a list broker because the chances are good that a business will already have an active relationship with your target market and this is likely to be warmer than a cold list.

Your library is going to have some great resources for research. You could always buy these directories your self. They are normally quite expensive so you could always see if they are available on eBay. Even the older ones still have gems.

Yellow Pages
This publication is now showing it's age a bit because so much is researched on-line. But, the people who already advertise in yellow pages are a useful point of contact for joint ventures.

Seminars can be a great place to meet potential joint venture partners. Be choosy about which ones you attend but generally they can be a rich pool of motivated people. Paid for seminars will have some of the better joint venture opportunities because you won't get so many tyre kickers.

Search Engines
Go to Google and type in the keywords that you are looking for. You will be surprised what pops up.

Discussion Boards
Are a great place to find passionate people. Bulletin boards or forums are a great place to communicate with other like minded people and will help to set the scene before formally contacting them for a joint venture opportunity.

Newspaper Ads
Lets face it if people are advertising in newspapers they are probably looking for business. Why not call them and see if they might be interested in starting a dialogue with you.

Your Website
There is always an opportunity to better use your web real estate. Why not mention that you are open to joint ventures and explain what you are looking for.

Ezine Directories

Contrary to popular opinion, your competitors are a good place to look for alliances. Some of the best joint venture alliances may come from your biggest competitors.

And the mailing will also be very targeted. Why not capitalize on this and make a handsome profit?

Existing clients are a great source of referrals for joint ventures. Just pick up the phone and ask them who they might know.

Other Places to Find Partners;

  • Business events
  • Newsgroups
  • Business Directories
  • On-Line classifieds
  • Magazines / trade magazines
  • Trade Fairs

There are hundreds of places to look, have fun.

Happy Joint Venturing

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