Building Business Partnerships Top 5 to Do?s Business Articles | May 9 Nelson Cruz World Baseball Classic Jersey , 2012
As a small business owner or business development executive there are several things to remember to do when establishing new joint venture marketing business partnerships. The following is a list of critical items to be conscious of when building business partnerships that will make sure your business finds the right partners and mutually beneficial business deals that maximize the opportunities and results in growing your company.?


As a small business owner or business development executive there are several things to remember to do when establishing new joint venture marketing business partnerships. The following is a list of critical items to be conscious of when building business partnerships that will make sure your business finds the right partners and mutually beneficial business deals that maximize the opportunities and results in growing your company. All business partnerships have their positive and negatives, however as a business executive it is critical that you understand the risks and areas to focus on to reduce small problems from turning into deal killers.


Top 5 To Do?s When Building Business Partnerships


1. Research - It is nearly impossible to build successful business partnership without doing a considerable amount of market research and analyzing the business of potential partners. Failing to adequately understand a prospective partner can only lead to future problems. This could be something as straightforward as not having access to the right client base or simply being a mismatch culturally. Therefore it is absolutely necessary to spend the time and resources to research the opportunity fully.


2. Examine Customer Base - Before finalizing a partnership that promises to give your brand or products access to new customers, request customer demographic data and information on a couple of their key customers that can be cross referenced.


3. Meet in Person ? In-person meetings with the executive management of the potential business partner is always better. While most communication can occur in the traditional forms of email and phone calls Jose Bautista World Baseball Classic Jersey , it is best to ask for an in-person meeting very early on in the process when determining whether a business is a good candidate for a partnership.


4. Develop Performance Based Incentives - Depending on the nature of the business partnership that you?re creating, compensation can come in many different forms. Packages that include revenue shares andor bonuses will ultimately reap more rewards compared to partnerships that do not include performance based incentives for growing the partnership. Be sure to include methods for compensating specific team members as some will be capable of selling more than their peers. You may also want to offer bonus incentives to the sales team as a whole for their combined efforts.