How to grow your Empire through Strategic Partnerships and Joint Ventures

How do you know if a business partnership is the right fit?  How do you know which business connections are good for you? Too many people begin business partnerships because they don’t want to go it alone but is this the foundation for a successful partnership? Nick explains why you need to understand your strengths and weaknesses and seek complementary skills in a partner and how joint venturing is a great way to test out working with someone – it’s a win, win for both parties. The next person you meet could be someone you joint venture with in the future so understanding the process of building relationships is key for any business entrepreneur.   KEY TAKEAWAYS You need to be very aware of your own strengths and weaknesses and seek a partner who has complementary skills. This is the basis for a successful partnership. Make sure you know the person you are considering partnering with, this can be achieved through joint venturing and undertaking consultancy work. A joint venture is a mutually beneficial alliance between you and another person with a win, win for both parties. Joint venturing is a long-term strategy, you have to be in alignment with the other person with shared goals, targets values and ambitions. There are 3 keys ways to get your message out there – social media, paid advertising and joint venturing. You can gain access to communities that your joint venture partners have created over extended time periods Identify those people where you can add as much value to them as they could to you. Start the process of building the relationships that could be your joint ventures in the future.   BEST MOMENTS ‘My business was initially grown through joint venturing’ ‘Own your space’ ‘Joint ventures are a great way to grow your business’   ABOUT THE HOST Nick James Nick dropped out of university at the age of 21, and failed spectacularly with his first coaching business, which forced him to take a £16k/yr telesales job.  Within 12 months he was top performer and left to start his second business at 24. This time he discovered a winning formula and before long had a multi-six-figure company. He then made a huge mistake which nearly put him out of business and cost him £50,000 in personal cash! Fortunately, Nick kept it afloat, turned it round, and sold that business 2 years later in a seven-figure deal.  He then co-founded a multi-million-pound marketing company, which he exited in 2015, and created Expert Empires. Today, Expert Empires is known as the UK's number one business event for Experts, with world-renowned celebrity speakers like Gary Vaynerchuk, Grant Cardone, Chalene Johnson, David Goggins, and Lewis Howes gracing the stage. Nick also specialises in helping Coaches, Consultants, Speakers, Trainers, and Authors take their businesses from zero to six figures and beyond through his Expert Empires Mastermind programme.