• First identify the objective of Joint Venture.
• Write down the outcome of Joint Venture.
• Analyze the target segment where you want to reach.
• Identify the potential partner who already in the same segment.
• Than DO SWOT analysis of those prospects and firm.
• Determine the type of your joint venture.
• Design your expansion plan and budget.
• Then finally move ahead for final negotiation or discussion.

Joint Venture is a tool to diversify the risk involved in performing business activities. Each partner comes in with a capital and expertise so as to enhance the value of the entity and its operations. Its a mutually agreed contractual agreement between parties in order to complete a specific task or project.

A Joint Venture can benefit in the following ways :

• Newer Markets and Distribution Networks will be tapped
• Increased Capacity
• Diversification of associated risk
• Expertise such as improved technology, specialized staff will be at the disposal
• Greater profits

• Expands your clientele. From a list-building perspective, a good JV will give you exactly what you want: a (fast) new audience of people in your target market.
• Increases your credibility to your community. Yesterday’s expert paradigm is long gone – today instead of broadcasting your message it is much more valuable to rub elbows with other experts in your niche.
• Divides the costs. You and a JV partner can share costs associated with marketing, and other expenses, reducing your financial burden.
• Strategic move towards competitors. A joint venture may be able to better compete against other industry leaders through the combination of markets, technology, and innovation.