Whats a Joint Venture?
A joint venture – also known as a “strategic alliances” in some cases – is simply when two or more parties join forces to form a mutually beneficial (win/win) arrangement by exploiting, or “leveraging”, the assets within the group for the advantage of everyone involved. Most commonly, joint ventures involve two businesses that will endorse eachother, upsell/integrate complimentary products or co-produce a new project. Joint ventures are quite simply the most effective marketing strategy on earth, as it is possible to leverage the assets of another business in a matter of days – when it took that business years to build, and at a great cost to do so. Several marketers, entrepreneurs and otherwise businesspeople have made millions of dollars using this simple strategy – sometimes with just one “deal”, single-handedly. It is generally a rather unknown form of marketing or business practice because it is completely non-traditional and requires the ability to act on creativity.
