Because of the big price tag for most small business marketing budgets, the are often the first expense to be cut when times are tough .  But, without marketing, sales suffer, and the cycle continues.  One way to keep your dreams alive even when times are tough is to consider the possibilities of joint venture marketing. 

The definition of joint venture is a calculated partnership between a number of business owners to share resources toward a common business goal.  In plain words, everyone has the chance to throw in what they have towards a goal to everyone’s advantage.  This concept works equally well on simple projects such as cross promotion as on more complicated projects such as a consolidated seminar. 

Anyone involved in a joint venture will benefit regardless of the complexity. First, is the ability to create more marketing power.  When you are not footing the entire bill, you might be able to afford advertising on radio or TV where in the past you were limited to print.  Not to mention that everyone’s sales force is expanded by the other participant’s customers and contacts.

A newer business owner can quickly establish credibility by working with strategic joint venture partners.  You really are perceived to be like those you hang around, so choosing successful partners will give you credibility as well.   And the added bonus is that by taking advantage of these successful business owner’s skills and knowledge, you will bypass many of the mistakes a new small business owner might make along the way. 

The best part about joint ventures is that by joining forces you are able to dream big.  Nothing you want to do is out of your reach if you can find the right partners.  Small businesses are thriving through joint venture marketing, even during these tough economic times.  Yours will too when you seek out the ideal joint venture partners to meet your objectives. 

Get more small business success strategies and claim your free white paper: “7 Ways Your Stone-Age Accounting System is Stealing Money From You Every Day … And, How to Get it Back This Year”  to learn about an online accounting program that makes it simple to track the success of your joint venture marketing.