| As you look at your advertising budget for the | | | | online and offline. |
| upcoming year, think about allocating some of your | | | | Step 2: Define jointly what makes up a good JV for |
| funds to joint-venture projects. As you build your | | | | both of you. Knowing this and answering these |
| business model, know that you can grow your | | | | questions in advance is very important to helping you |
| business faster when you consolidate your | | | | succeed in the JV process. |
| knowledge, company resources, as well as other | | | | Step 3: Think about creating a win/win strategy. |
| company assets with other businesses that have | | | | Having a strategy that works good for both parties |
| complementary attributes to grow each others' | | | | can be the difference between a successful joint |
| businesses. | | | | venture and one that fails. |
| Below are simple steps you can follow as you get | | | | Step 4: Take action on your strategy and make sure |
| started on your next business project: | | | | to achieve your common goals as well as objectives |
| Step 1: Find qualified joint-venture partners who have | | | | that you have written down in advance. Learning the |
| complementary services that can help you grow your | | | | process is not as hard as some think. Taking action is |
| business. Engage yourself with them and identify | | | | really what matters. |
| what interests and what objectives you both can | | | | Step 5: Monitor your performance and seek ways to |
| accomplish. | | | | continuously improve on the relationship. |
| Know this:There is significant value in linking | | | | Friend, it's all about co-profiting together. You have |
| resources, common interests and strategic objectives | | | | the resources; you just need to share them; that's |
| together with other experienced professionals; both | | | | the key. |