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 .  Unfortunately, with no marketing budget sales often plummet, perpetuating the sequence.  One way to dream big even when times are tough is to take advantage of joint venture opportunities. 

To be specific, a joint venture is when two or more business owners plan to contribute collectively toward a project that will benefit them all.  Put into English, this means the opportunity to pool resources so that everyone benefits.  A joint venture can be as simple as working with another business owner to cross promote your products, or as complicated as collaborating together on an elaborate weekend event. 

Whether simple or complicated, there are benefits to all who participate in joint venture marketing. The first benefit is that you get much more bang for your marketing buck.  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.  In addition, all of the participants in the joint venture have their own customer lists and networking contacts, which essentially enlarges each business owner’s sales force.

New business owners really benefit from choosing the right strategic business partners because they can establish their credibility very rapidly.  People perceive you to be like those folks you associate with, so if you are wise choosing your joint venture partners your reputation will grow rapidly.   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.  No goal is out of reach once you have found the right partners to make it happen.  Small businesses are thriving through joint venture marketing, even during these tough economic times.  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.