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  • Hub You - Joint Ventures - Part I

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    r or accountant), they’ll be referred to the other.

    JVs can go much further than this simple arrangement, however. The

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    Joint ventures (JVs) are one of the best ways to lure new leads and customers. By partnering with other businesses whose customers are part of your market, you have an additional profit center of incremental income. For example, an attorney can refer his clients to an accountant, and the accountant in turn refers clients to the attorney. It’s a win/win situation, because many times a new business will need both an attorney and an accountant. Depending on which one they approach first (the lawyer or accountant), they’ll be referred to the other.

    JVs can go much further than this simple arrangement, however. They

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    tomers are part of your market, you have an additional profit center of incremental income. For example, an attorney can refer his clients to an accountant, and the accountant in turn refers clients to the attorney. It’s a win/win situation, because many times a new business will need both an attorney and an accountant. Depending on which one they approach first (the lawyer or accountant), they’ll be referred to the other.

    JVs can go much further than this simple arrangement, however. The

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    r his clients to an accountant, and the accountant in turn refers clients to the attorney. It’s a win/win situation, because many times a new business will need both an attorney and an accountant. Depending on which one they approach first (the lawyer or accountant), they’ll be referred to the other.

    JVs can go much further than this simple arrangement, however. The

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    many times a new business will need both an attorney and an accountant. Depending on which one they approach first (the lawyer or accountant), they’ll be referred to the other.

    JVs can go much further than this simple arrangement, however. The

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    r or accountant), they’ll be referred to the other.

    JVs can go much further than this simple arrangement, however. They can be very complex, and there can be 3-way deals going on. In fact, JV brokers make their money by taking a slice of the profits between two or more different businesses, where he has brokered the deal and set up everything between them.

    The key to making these deals work is to make sure that you let a prospective JV partner know from the start that:

    v You’ve discovered an additional profit center for them that they are probably unaware of (offer projected profits, if possible).

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