Could a joint venture help you grow your business?

If you work alone, it can be difficult to motivate yourself when things are quiet. Joining forces with someone else could inject new life into your business.

As is often said, two heads can be better than one.  So, who can you join up with?  Ideally it would be a business that complements yours but does not compete. It should be something that appeals to a similar target audience so that you can combine your marketing efforts.

The perfect solution would be working with a business that enhances and improves your product or service and vice versa.  For example a personal stylist and a make-up artist, a caterer and a wine merchant, an accountant and a book-keeper, a virtual assistant and a meetings venue … Use your imagination – what other services do your customers need?

Then you can consider how you can work together. It could simply be referrals to each other, or you could create a joint product or service such as a workshop, an event or an offer.

Or carry out a joint marketing campaign, or exchange space on each others’ websites or email newsletters.  Note, you can’t mail each other’s database though – your customers agreed to receive communications from you, not them. However, you can feature an article within your newsletter about another business.

Give it some thought – it could provide just the inspiration and motivation you need.