An Army of Resources
The opposite of joint ventures is to do business as an island; that is an expensive, resource poor way to conduct business. Once you understand the power of joint ventures, you will begin to see how by pooling resources you can - - in effect - - acquire businesses for nothing along with their assets, licenses, distribution channels, and sales forces, etc.
The benefits are huge:
- Business is established more easily
- Your corporate image is enhanced and elevated
- Market presence is boosted
- Clients perceive substantially more benefits
- Clients receive more value-added
- Your ordinary sales efforts are significantly augmented
- Overall sales and profitability increases drastically
- Barriers of entry are lowered
- Entry to emerging markets becomes easy
- Access to wide varieties of new markets suddenly becomes available
- Your client base expands far beyond its current limits
- You can expand far beyond your current limited geographic boundaries
- You can gain a firm foothold in the international marketplace
- In fact, you can control other people's markets
- Summarily, your horizons not only expand, they explode!
- You can establish stronger competitive advantage
- In some cases, you'll be able to overpower the competition
- Joint marketing opportunities become unlimited
- You equally gain unlimited distribution opportunities
- Collaboration facilitates the design and deployment of better products
- You avoid the disasters found in mergers filled with cultural and political battles
- You gain flexibility and creativity
- Your risk is lower
- You win control of other's technology licenses
- You capitalize on others research and development
- You enhance your own R&D capabilities
- You access knowledge and expertise far beyond your own company's borders
- You can extend your own product offerings into previously unattainable goods
- Your scope of innovation drastically widens
- Through preemption you can secure a position as front runner in your marketplace
- Your marketing and selling ability is greatly enhanced
- You attain new purchasing and supply relationships
- You can set up instant distribution networks
- Previously hidden assets can now be capitalized
- Your unique relationships make it impossible for others to imitate/emulate you
- You can continue to remain totally focused on your core opportunity
- You can now outsource non-core competencies
- You stretch/maximize your management, technological and operational resources
- You reduce overhead through shared costs and outsourcing
- Your manufacturing ability becomes more cost effective
- You earn higher ROI’S & ROE’S
- Your reputation in the industry strengthens because of your new partners
- Ultimately you establish a unique position in the marketplace
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