Before you can do a joint venture of your own you have to be okay leaving self made urban dictionary your comfort zone. For some of you this will be incredibly difficult, for others it will be pretty simple. Perhaps it is because of fear that many (including possibly you) find this so difficult and it is important to be able to take care of that. Whatever size of business you are running, you can do joint ventures. It is, though, important to match up well with who you do JVs with.
In reference to business discussions, it should not take up too much time. When you are looking for a joint venture partner, the same concept is important. In self made man examples addition, do not make the other business mad by using marketing hype. When contacting the other business, state your reason for calling them, or this can be done in writing. No need to write a lengthy letter giving them your history or that of your business. But, make sure that you have yourself together. You can get to that later if they are interested. Always talk about how a joint venture will be very beneficial.
One of the best ways to promote your joint venture offer is to do the same things that you do when you want to promote your own offers to other buyers. Within your package, it is important to sell benefits that you know they will enjoy while they do their JVs with you. Make them an offer they positively cannot refuse on any day. The offer shouldn't be hyped up and then later on toned down because this is a major JV killer. You're trying to offer them something highly valuable and it's what you would do if this were a straightforward sales pitch. If these prospects are being courted for other JVs, you'll be competing with them. Tread lightly if you want to offer delayed things that aren't in sync with your primary offer, like bonuses, etc. This is typically something that doesn't happen unless it is truly fantastic and you know that they are going to be interested.
It is important, if you do joint ventures with giant corporations, to keep your mind open when you think up the terms. Joint Ventures inherently have lots of different scenarios in which making a small sacrifice now might need to have a greater cause later on.
Another common aspect of larger JVs is the formation of a company solely for the JV. It's a situation in which you will own part of the company and that is a term that you will need to negotiate. How much you own is just a segment of what you should be thinking about; other factors might seem more attractive to you. It all requires negotiation and you'll have to make some very important decisions about each of the terms that are involved. You see the results of joint ventures every single day and multiple times. Each business has something to offer. They are linked by what they do together. What is happening is that both businesses promote each other in a positive way. In most cases, even an individual IMer can do JVs successfully and profit.