Have you heard of the saying "birds of a feather flock together?” These words are taken very seriously in the world of business. Potential joint venture partners will often first think of what associating with you will do to their reputation in the marketplace, before they think of the revenue your alliance will generate. This is because of the view that businesses that "flock together” (i.e. form strategic alliances), have the same values, business ethics and customer service standards.

As a result, you'll find that all highly-regarded businesses are protective of their reputation. They will only endorse high-quality products and services, and form alliances with other ethical businesses.

This means that you'll need to convince potential joint venture partners that a decision to partner with your business will be wise on their part. To do this, you must provide evidence that will break down their fear and skepticism.

Here are four ways to enhance your credibility, and gain the trust of potential joint venture partners:

1. Display Client Testimonials

Testimonials from past clients are powerful because what others say about your products and services carries more credibility than whatever you say about it. You're expected to have only good things to say about your products and services, but when past clients praise what you offer, it overcomes doubts and objections. Get at least five testimonials that highlight the fact that you deliver on your promises, and you'll find that potential joint venture partners will start approaching you.

2. Offer A Strong Risk-reversal Guarantee

When a client decides to buy a product or service, they're usually the one who takes on the risk in that business transaction. The risk involves parting with their money in the hope that what they purchase from you will be everything they expect. Offering a strong risk-reversal guarantee will demonstrate your confidence in your products and services, and reassure potential joint venture partners that their clients will not be taking a financial chance on you. A risk-reversal guarantee means the business owner assumes most or all of the risks associated with the business transaction in question. An

example is an "unconditional, 90-day money-back guarantee.”

3. Gather Endorsements From Centers Of Influence

Endorsements from well-known people in your field, and those who have influence and credibility with your target market will immediately make you a "star” in the eyes of potential joint venture partners. This is because of the fact that the opinion of such endorsers is considered worthy of listening to, by your peers, your clients, and others in your industry.

4. Get Good Press Coverage

Finding creative ways to get the media's attention will enhance your reputation in the marketplace, and therefore make your business a joint venture magnet. Mark McMahon, an Arizona-based cosmetic dentist, is good at this. Each Thanksgiving, McMahon partners with local charities that operate homeless shelters and provides free dental services to their members. Prior to each event, McMahon contacts local media to let them know about his charity dental work. His contribution has been consistently reported in print, on radio, and on television.

You should showcase your testimonials, risk-reversal guarantee, endorsements and media coverage out front, on all your sales and marketing materials.

Copyright © 2006 by Habiba Abubakar and Emprez. All rights reserved.

Note: You are welcome to republish this article as long as the resource box at the end is included fully and unaltered.

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