Joint Ventures Conference will address how to harness the most value from joint ventures—from partner selection to exit strategy—in order to accelerate your company’s growth. Experienced practitioners from top organizations will share how they are standardizing their approach to joint ventures by aligning best practices and dedicating appropriate resources. New to this year’s conference, we will incorporate a more global perspective and varied opportunities for peer sharing. In addition, we will examine current research, which captures the latest joint venture trends and identifies major blind spots and gaps for improvement.
Joint Ventures Conference is a strategic business partnering and legal agreement conference resulting in the creations of new legal entity by two or more business to mutual accomplish a business objective.
The idea of businesses operating in isolation is being relegated to the past. Today’s businesses are increasingly collaborating with other companies on joint ventures – pooling their resources and expertise to develop new products, expand into different markets or increase operational capabilities.
As a small-business owner, you need a collaborative mindset to succeed. You need to develop solutions with employees, business partners, and investors on a regular basis. Sometimes, you might have a great business idea that requires expertise or resources from another individual or company. In this case, you might consider entering into a joint venture with that individual or company.
A Joint Venture allows businesses to grow and gain access to markets or expertise beyond their existing capability. By teaming up with another company, many small businesses use joint venture agreements to share specialised expertise, such as technical skills or intellectual property, as well as spread the risks and costs of developing a new market or product.
Joint ventures are usually formed by two businesses with complementary strengths. For example, a technology company may create a partnership with a marketing company to bring an innovative product to market. An overseas business could join forces with a local distribution company in order to sell its products in that local market.
Joint ventures can dramatically increase the reach and scale of both businesses while reducing the risk. However, they aren’t without their pitfalls and poorly conceived partnerships can harm both parties. It pays to understand what joint ventures are, as well as their advantages and disadvantages.
Why should you attend Joint Ventures Conference?
There are a lot of reasons why you should attend the Joint Ventures Conference and consider entering into a joint venture with other business partners, this includes but not limited to:
New product development – Companies and individuals can bring different levels of expertise and skills to a joint venture that can aid the development of products and services that otherwise would be difficult for a company to create on its own. For example, an independent solicitor and a small accountancy firm might work together to create a new business specialising in tax affairs for business start-ups. Services or products created through such ventures can either be marketed by both business partners, or the joint venture may operate independently with its own management team and marketing. Joint ventures such as these can potentially broaden a customer base and result in additional revenue.
Expanding into new markets – Breaking into new markets, from new territories to new demographics, can be difficult without being able to draw on businesses that have already established a presence in the target market. Joint ventures are often formed when an international business is looking to move into a local market. They will partner with a business offering local expertise in logistics, distribution or retail to establish a supply chain and route to market. Supermarkets often form joint ventures to set up new, local supermarket chains in new countries.
Bundling products and services – Bundling one company’s products and services with those of a partner can create a single offering that better suits the needs of customers and delivers more value, making it more competitive. This can increase sales and gain market share at the expense of competitors.
Partner endorsement – A less complicated type of joint venture, partner endorsement sees one business endorse and recommend the products and services of its joint venture partner. This is similar to an affiliate relationship, where revenue is shared on any referrals from one business to another.
Shared marketing – Pooling resources such as marketing budgets can help a collection of smaller businesses access greater reach and more effective marketing channels than they could by themselves. Pooling resources on a larger campaign can benefit all parties.
Co-sponsoring events – By spreading the cost of sponsoring an event with a joint venture partner, each company can get more bang for their buck. Smaller businesses can reap more exposure, publicity and customers leads by teaming up with a larger more well-known partner, giving more credibility to your business.