Grow Your Start Up Business By Partnering With Others

Planning and launching a start up business from scratch requires effort and a tremendous amount of faith that it will all pay off in the end. But the prize of small business success is worth it for anyone who's reached even moderate success.

When you first open your doors as a business you have no authentic source of revenue. All your energy and focus is consumed by the marketing function to get those initial customers in the door.

One of your best options is to joint venture with other businesses. Link your product or service to kindred products and organizations. Connect with other small business owners and entrepreneurs who market similar, but non-competing products and propose a joint venture. For fast business success, there's nothing better than to be able to hitch a ride.

Opportunities Are Endless

You could exchange customer lists, or agree to mail endorsement letters on behalf of the other to an equal number of people on in-house lists. Another option is to insert your promotional pieces into your partner's outgoing packages, while doing the same for them. This is something any start up business could do.

You could work out a deal where you rent their customer or prospect list, or do it in exchange for a percentage of the revenue generated. The possibilities are endless for win/win partnering agreements. All it takes is the willingness of two business owners and a little creativity.

The Key To Making It Work

Look for other businesses that are naturally compatible to yours. For example, office supplies and computers go hand in hand, as do athletic apparel and gyms, or freshly prepared take-home dinners and wine.

Joint venturing is an opportunity to generate additional cash for both parties by tapping into obvious, high-probability revenue streams. Nothing beats an existing customer in terms of accessibility and a willingness to buy related or recommended products.

For a start up business, it's a great way to get a quick boost. Small business success over the long haul is determined by the width and depth of your audience. Sharing resources whenever possible makes sense.