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Do Joint Ventures Work? Case Studies Prove Their Effectiveness
Using joint venture marketing to Grow from $130K to $1.3 Million in sales
Entrepreneurs sometimes endure the feeling of having the weight of the world on their shoulders. A business can encompass an abundance of time with all the details of administration, getting new business, marketing, development, and of course, taxes. Entrepreneurs are idea people. They like to create business ideas and watch it become successful. But sometimes there just isn’t enough time for business development.
That is why a joint venture can be a great option for an entrepreneur to explore new business ideas and expand revenues at the same time. A joint venture allows an entrepreneur to remain autonomous with his or her business and still enjoy the benefits of a partner sharing expertise and part of the workload.
Roxanne Batson, an entrepreneur and managing partner of two separate small businesses, found out just how forming joint partnerships helped in both the quality of the end-product and increased revenue.
One of her businesses, WomenCorp.org, is an online multi-media women’s magazine. Roxanne started the magazine as a business newsletter to deliver learning opportunities for women in business. However, she had to perform all the work herself – researching topics, writing articles, marketing the site, and designing and maintaining the website itself. The workload was too much for Roxanne, who had other obligations to attend in addition to the newsletter.
Her solution was to open the possibility of a tech savvy joint venture partner who could help with the maintenance and upkeep of the website. With a great web media specialist as a joint venture partner in hand, Roxanne then found 20 content providers who could do the research and write the continually updated content for the website.
The result was a richer, more dynamic online magazine that attracted more visitors and is more profitable. Profit is generated by ad sales and shared among the joint venture partners.
Roxanne is also the managing partner for an offline business called Clicker Girls, a business that developed the Classroom Performance System (CPS). CPS involves the use of a remote response pad technology. The clicker technology allows students to engage with teachers and receive instant feedback and automated grading during classroom lectures.
Sales of the system were stagnant and Roxanne wanted to find a way to grow the business and increase revenue. She found the help of DCI, a whiteboard technology dealer. Their product allows teachers to more easily interact with the students responses through the CPS remote technology. Through this joint venture, they were able to approach school districts together with their interactive products. The result? Sales skyrocketed from $130,000 to $1.3 million!
Making Life Easier and Business More Profitable
Roxanne Batson is a believer in joint ventures. She says they make life easier, can build a better business model, and she can make far more money than she could alone. If you are an entrepreneur, consider that your business can have more growth and more revenue if you share ideas and marketing strategies with a joint venture partner.
christian fea is CEO of Synertegic, Inc. A joint venture marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.
To discover more joint venture marketing Strategies join his free Joint Venture Marketing Wealth Report