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If you’re just starting out, or if you want to take your business to a new level, a key growth strategy is to find new customers.. Sounds easy, but where do you start? Taking out an expensive advertisement in the newspaper? Spending tens of thousands of dollars on a marketing campaign? No way!

Get creative and clever with how you grow your customer base by developing joint venture relationships with other businesses. Here’s how:

A joint venture does not have to mean a major deal involving lawyers! It can be as simple as sharing databases with other businesses. The aim is to grow your customer base by offering services to new potential clients.

Find a business that isn’t a direct competitor but has the same target market. When you’re starting out, it’s easier to seek businesses that are in the same food chain. For example, this could be a beautician and a hair dresser – they target the same market but they are not direct competitors. As you become more experienced, you’ll find opportunities for joint ventures in industries outside of your own.

See what value you can add to this business by offering your service at a special rate, or provide a special offer. You need to offer new customers a special deal they couldn’t otherwise access.
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