A joint venture partnership is where you set up a deal where a non competitive business sells your products for you for an agreed commission or where you and another business offer each others products to your prospective customers.
All plumbers have a list of customers on their books and there are plenty of other local non competitive businesses who have lists of similar types of customers so setting up mutually beneficial joint venture partnerships to sell to each others customers is a great way of getting a lead in to a whole new list of prospects. It costs nothing to set up joint venture partnerships, it just takes a little bit of time and effort to sort out exactly how the partnership will work.
You could do a swap transaction where you and your joint venture partner offer each others products and services to your own customer list or you could agree a commission for recommending each others products or services.
It is a lot easier to sell to someone that already trusts you and that you have an existing relationship with. This is why joint venture partnerships work because there is already a level of trust established and the customer is buying a product from someone that they are happy is doing a good job for them already. Because you already have an established relationship with your customer they will be much more receptive to buying something new that you are offering them.
Just think of the potential of having several joint venture partnerships set up offering your products and you will then see how powerful this form of free marketing can be and how easy it is to grow your profits using this method.
A lot of plumbers do not go the extra mile to set up joint venture partnerships because it does take a little effort, but once the initial time has been put in to get it off the ground it could really make a big difference to your business.
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