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Nothing Ventured Slideshow by Pam Stellema from SalonSavy

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A concise overview of the benefits of Joint Venturing with another business to help you grow your client base.

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Nothing Ventured Slideshow by Pam Stellema from SalonSavy

  1. 1. Nothing Ventured Nothing Gained! A journey through Joint Venturing
  2. 2. Why should you consider joint venturing? www.SalonSavy.com.au Very economical Generally very successful (when planned carefully) Quick way to grow your database Comes with some trust already built in 2
  3. 3. What is a joint venture? Strategic Alliance that benefits all parties www.SalonSavy.com.au 3
  4. 4. What can you expect to gain from a JV? More clients Increased sales Reduced expenses Greater exposure www.SalonSavy.com.au 4
  5. 5. A virtual money magnet! www.SalonSavy.com.au 5
  6. 6. How does a JV work? Research other local businesses Be prepared with a plan and goals Make contact Spell out the benefits www.SalonSavy.com.au 6
  7. 7. Who should you JV with?  Careful consideration www.SalonSavy.com.au 7
  8. 8. Things to consider first... Businesses that have: the right kind of clients (ones that will want to do business with you) high quality services or products enough customers customers in your trading zone A real eagerness to participate www.SalonSavy.com.au 8
  9. 9. Possible JV partners  Hair salons  Beauty salons/spas  Massage clinics  Gyms  Florists  Dress shops  Shoe shops www.SalonSavy.com.au 9
  10. 10. Should you start a JV? Ask yourself: Do you want more client referrals? Are you ready to take action? Can you stay in control? www.SalonSavy.com.au 10
  11. 11. Nurturing the JV relationship Start with clear, written guidelines and expectations Be realistic Stay in touch regularly Refine your JV partnership Deliver what you expect to get www.SalonSavy.com.au 11
  12. 12. What can go wrong? No guarantee of success Different values and standards Loss of money, clients, time and credibility www.SalonSavy.com.au 12
  13. 13. To sum it all up... Don’t rush into it – preparation is key Know what you want to gain from it Plan carefully and... You will generally get back what you put in. If you choose the wrong JV Partner. don’t linger– get out immediately to reduce any negative impact on your business. www.SalonSavy.com.auPam Stellema 13
  14. 14. Happy Joint Venturing! Pam Stellema www.SalonSavy.com.au© 14

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