Thursday, October 2, 2008

Where do You Find Your Strategic Alliance Partner

Have you ever read Acres of Diamonds? The most obvious place to start looking is your own back yard. This story is very well explained in Acres of Diamonds.

So the first place I would look for joint venture partners is in my own back yard. Think of your own customer database or mailing list. Your existing customers are a great place to start looking for joint venture opportunities, after all, they already trust you. Your strong relationship is virtual money in the bank, by giving people great service you can open up lots of opportunities.

Magazine Publishers
A lot depends on who the magazine publisher is, some of the very largest might be hard to reach but certainly the smaller or niche magazines are a good place to explore. It's the same with people who distribute newsletters on line or printed material off line. They can be a great source for big databases of potential customers for you.

Library
Your local library offers you a rich resource of excellent material that you can research. There are reference books available that show you the numbers of members. In the USA and Canada you can review http://www.mediafinder.com/. They have around 75,000 newsletter for you to explore. There is a cost involved with this service so do your sums first before subscribing.

If you are based in the USA you can use Standard Rates and Data Services http://www.srds.com. In the UK you can go to a list broker like Marketing File http://marketingfile.com/ Buying a large list is not our first port of call because there is a good chance that a business somewhere will already have a large list with a strong customer relationship and that is where I would go first.

Your library is going to have some great resources for research. You could always buy these directories your self. They are normally quite expensive so you could always see if they are available on eBay. Even the older ones still have gems.

Yellow Pages
This publication is now showing it's age a bit because so much is researched on-line. Having said that, you will still find that Yellow Pages is a target rich environment for joint venture partners.

Seminars
Seminars can be a great place to meet potential joint venture partners. Be choosy about which ones you attend but generally they can be a rich pool of motivated people. Paid for seminars will have some of the better joint venture opportunities because you won't get so many tyre kickers.

Search Engines
Go to Google and type in the keywords that you are looking for. You will be surprised what pops up.

Discussion Boards
Are a great place to find passionate people. Bulletin boards or forums are a great place to communicate with other like minded people and will help to set the scene before formally contacting them for a joint venture opportunity.

Newspaper Ads
Newspaper ads can provide some good opportunities, they are after all advertising for business. Call them up and start a conversation.

Your Website
There is always an opportunity to better use your web real estate. Why not mention that you are open to joint ventures and explain what you are looking for.

Ezine Directories

Competitors
Contrary to popular opinion, your competitors are a good place to look for alliances. Some of the fiercest competitors can become the strongest joint venture partners.

And the mailing will also be very targeted. Why not utilise this and make a handsome profit?

Referrals
Existing clients are a great source of referrals for joint ventures. Call them up and see if there is someone they could refer you to.

Other Places to Find Partners;

  • Business events
  • Newsgroups
  • Business Directories
  • On-Line classifieds
  • Magazines / trade magazines
  • Trade Fairs


There are hundreds of places to look, have fun.

Happy Joint Venturing

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