A Joint Venture (JV) is also known as ‘business deal’, ‘strategic alliance’, or ‘strategic partnership’. Probably the simplest definition is that Joint venture is a win-win strategic partnership between two or more businesses or individuals who agree to leverage each other’s resources in order to achieve common economic objectives. Resources could be in the form of technology, relationships, access to existing customers, expertise, knowledge, credibility, employees, facilities, finance, etc.
Examples of Easy, Profitable and Simple Joint Venture Deals
Here are just a few examples of JV deals you can broker:
2. Reciprocal Arrangements
3. Sharing Resources
4. Promotional Partnerships
5. Create Profit Centers for Businesses
Let’s look at each one in more detail.
Method #1: Tollgating
Tollgating simply means finding a group of people with a high enough demand and connecting them with the source of supply. You then stand between them (like a tollgate collector) and collect money as buyers go through the tollgate. This method is also known as “Triangulation.”
Examples of Tollgating:
1. Let’s say that in your local area, there’s an Association of Architects. Say they have at least 50 members and they socialize weekly. If you’re able to persuade them to meet once a week at a specific restaurant or hotel, you can arrange a deal with the restaurant/hotel owner to give you a percentage of their weekly bill.
2. Another way you can tollgate is by finding successful businesses. There are businesses out there who are actually turning customers away because they are unable to meet the demand. Get them to pass the leads to you. Then you can direct these leads to another business who will do all the work. You then collect commissions for every converted lead.
3. Locate someone with a product to sell, and find someone who owns a list of customers who have a strong desire for the product in question. Get the list owner to endorse the product, and you collect commission from every sale made.
4. When a business goes bankrupt, make money by locating someone who is willing to: buy the old inventory, buy the old phone number in order to convert incoming callers, buy the database of customers, fulfill pending orders, take over the lease, etc.
Method #2: Reciprocal Arrangements
This is a I-scratch-your-back-you-scratch-mine sort of arrangement.
The fact is that each business has strengths and weaknesses, and many business owners don’t know how to compensate for their weaknesses, thus producing problems. But a smart JV broker like you can…