In today’s world of specialization, if you specialize in one thing and another related, non-competing, business is a specialist in their field, and you have similar target markets, a joint venture or strategic alliance may be beneficial to both businesses.
What is Joint Venture or Strategic Alliance?
- Mutual-benefit Joint Venture (JV) – no money swaps hands
- Profit-share JV – one partner pays another for referrals, like a commission or affiliate marketing
- Other – use your imagination!
Greater Phoenix SCORE offers a class on Joint Ventures & Strategic Alliances. Check our local workshop schedule for details!