Posts tagged Business Partner

What Is a JV Partnership?

JerryDRoss.com Business Success SolutionsWhat Is a JV Partnership?

 

A joint venture partnership is made between two or more individuals or business owners to work together on a particular project, product, or event. The companies do not become one; instead they maintain their separate individual entities while working on a particular goal together. The purpose of a joint venture is to combine resources to maximize efficiencies of each entity for the particular project.

 

Limited Time Span

While some JVs do last a long time, most of them are temporary until the completion of the project. Many businesses find themselves entering into several consecutive JVs due to the success of others.

 

Clearly Defined Objective

Another thing that denotes a JV partnership is that they usually have a very clearly defined objective or reason for being put into place. Each entity involved knows their place and what is expected, as well as the goal.

 

Degree of Involvement Is Obviously Defined

Each part of the JV alliance has a particular thing that they are supposed to do, and this is clearly spelled out in an obvious manner. Each partner knows what is expected, what to do and when to do their part.

 

Spelled-Out Financial Contributions

Since the business entity isn’t going to be formed in a JV, the financial responsibilities of each member must be expressed. Sometimes one person is responsible for the finances, will deduct expenses from income and then distribute the profits as spelled out in the contract.

 

Plans Spelled Out for Problems or Disputes

In a JV that is temporary in nature, there can still be issues and disputes that arise. The contract usually spells out what to do and who will be the final say in any dispute – typically an unbiased arbitrator or in some cases the person with the main financial input gets the final say.

 

Termination of JV Arrangement Detailed

Since a JV agreement is not permanent, usually the contract spells out exactly when and how the arrangement will end and what will happen to the intellectual property when the arrangement is complete.

 

Non-Disclosure Information

Most of the time both parties require some sort of non-disclosure information to keep trade secrets, contact lists, financial and other information private, since some of them will necessarily be revealed during the JV partnership.

 

Other Legal Information

It’s important to check with your state and country about various terms and issues that should be covered in your JV agreement. Together with your JV partners, you may want to determine which of your locations will have the final say on any legal issues that should arise.

 

A joint venture partnership is a great way to expand your reach because you get to use each other’s contacts, resources, and skill set. But, it’s important to understand what a JV is and what it’s not. It’s not combining two businesses permanently and it’s usually a temporary joining of forces.

 

Here’s to your Success!

Jerry D Ross

 

Give us your thoughts and/or suggestions. Please leave your Comment below. Feel free to contact me with questions or suggestions.

5 Tips to Attraction Marketing

Succeeding at Attraction Marketing

A lot has been written about Attraction Marketing, yet we still see so many on the Internet try to push their products on whatever audience they can find. Attraction Marketing is a method of marketing where you draw people to you through providing value to their lives and making them want to come back for more; making them want to follow you. You become an expert whom others want to associate with and learn from.

There are many ways to build that reputation of being a leader, an expert, a trustworthy business partner. Those methods include using Blogs, Twitter, Facebook, Websites, or a number of other mediums. The point is not which medium to use, but how to use it.

Here are a few basic tips to succeed in Attraction Marketing:

 

1. Know your audience and address their issues.

Are they other business owners? Then provide business information and solutions. Are your audience health conscious people? Then provide health solutions.

2. Provide valuable information to your audience.

When you provide value and useful solutions to peoples problems, they will want to come back for more of your information and solutions. Provide valuable information that is useful and usable in and of itself.

3. Be likable.

No one wants to do business with or follow someone who is not likable. Even in the seemingly small things like your pictures, be likable: Smile in your pictures or videos. Be positive in you messages. Share uplifting and beneficial information that brings good to others. Be likable.

4. Let your products or services naturally flow from your material.

Don’t shout out at your audience that you have the only product worth considering. Let you offers flow from you messages and let you audience choose to accept the offers as they desire. When you provide valuable information to your audience, some will want to know what else you provide and look for the products you offer.

5. Provide Solutions!

People are looking for solutions to their problems. Business tips. How to instructions. Time management techniques. Provide answers to the issues a business owner would have.

Help your audience feel welcome and cared about. Draw them to you with honey, don’t drive them away with vinegar. Be a friend and leader who can be relied upon to provide trustworthy solutions to life’s problems.

Here’s to your Attraction Marketing Success!

Jerry D Ross

You might also find these posts helpful:

***** FREE Training on a System To Generate An Endless Flood of Prospects To Your Business! *****

MLM Lead System Pro

.