Joint Ventures
Have you ever worked with another business?
A joint venture is a great way to refer your customers to other suitable companies or to expand your product offerings.
If you can find a company who has a similar client base as you then it's great to create a formal partnership with them to enable regular referrals.
It can be a great way to grow your business.
Example
A florist is in a great position in a wedding chain.
As is a jeweller, wedding venue, reception venue, wedding planner, printer, baker, hairdresser etc.
If a florist was to create joint ventures with a group of businesses in a wedding chain, they are all in a great position to refer new clients to each other.
Are you in any type of chain with other businesses?
You don't necessarily have to be in a chain, you just need to have a similar target market. Maybe you're an Electrician, another type of company you may want to connect with could be Home Builders.
There are so many other companies around who have the same target market as you, you just need to know where they are, communicate well with them, have an offer and make sure you help them too.
Tips to remember...
Who has similar clients to you
How can you refer business to each other
Can you arrange a formal agreement
Happy to help
If you have any questions or would like help implementing any marketing strategies remember Pzazz
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