subject: Four Ways To Use A Joint Business Venture To Expand Your Work Force [print this page] If you are the proprietor of a small business, no matter what it is that you make, serve or produce, it can be an extremely trying time to attempt to hire new workers. Even with unemployment hitting nearly 10 percent nationally, and far higher in many regions of the United States, the fact is that placing a Want Ad in the classifieds is a sure way to get deluged with resumes and CVs by prospective employees who, for the most part, are in no way qualified for the job at hand. Likewise, hiring new workers may still be detrimental to the company's bottom line, and so production or service continues to dwindle.
But what if there were a way to get labor help without the long process of hiring new workers, and without the additional costs either?
There is.
Through joint ventures, businesses that offer complimentary products and services are able to save money, increase revenue and essentially "share" a combined, cohesive joint work force.
Here are the four best ways to make use of a joint small business venture.
A Joint Work Force Can Offer Benefits To Both Companies With No Change In Costs
A joint business venture between Company A and Company B can be greatly beneficial to both companies, so long as the products or services that each company offers can reasonably compliment that of the other company. Say Company A runs a tire shop and Company B runs a brakes and muffler shop. Obviously, there can be great benefits to both companies looking to expand their services, while incurring no immediate rise in costs for additional employees.
Joint Ventures Can Boost Customer Or Client Base
Also, a joint venture is perfect for exposing the customers and clients of both Company A and Company B to a whole new product or service that is right in line with what they were already shopping for. This gives each company a lot of new, immediate exposure for free as well.
They Can Also Provide A Foundation For Future Growth
A joint venture is a great way to lay the foundation for future growth of both companies, so long as the terms of the joint venture are laid out clearly and effectively.
And, They Offer A Great Way For Customers Or Clients To Reap Benefits As Well
Also, customers love joint ventures. Anyone who has ever been to a Hardee's/Green Burrito restaurant knows that customers love more options, not fewer, and the operation of those joint restaurants costs neither company all that much in costs or manpower.
Four Ways To Use A Joint Business Venture To Expand Your Work Force
By: Steve Schlagel
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