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 dream big even when times are tough is to take advantage of joint venture opportunities. 

The definition of joint venture is a calculated partnership between a number of business owners to share resources toward a common business goal.  Put into English, this means the opportunity to pool resources so that everyone benefits.  This concept works equally well on simple projects such as cross promotion as on more complicated projects such as a consolidated seminar. 

Regardless of the complexity, joint ventures have benefits for everyone involved. First, is your chance to create more power from your marketing budget.  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.  And every member of the joint venture has contacts and customers that can benefit the other members, expanding everyone’s sales force.

If you are new in business, you can create your reputation much more rapidly by choosing the right 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. 

But the biggest advantage of joint venture marketing is that you can keep your dreams alive through collaboration.  With the right partners, there is no ambition that is too high.  Even now, when times are tough, small businesses are growing and expanding every day through the use of joint venture marketing.  With the right commitment, your business can grow too. 

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.