Profitable Partnerships: Using Joint Ventures to fuel your business success with Ace Chapman [The Opportunity Ep.137]

Summary: Entrepreneurship can be a lonely journey. Many business owners feel like it's them against the world, and that they alone should have all the answers. But as the saying goes, “many hands make light work”, and partnerships are often an overlooked secret to success when it comes to growing your business. As promised Ace Chapman is back, and this time he joins us to discuss the many benefits of joint ventures. According to Ace, “Everything you want for your business, somebody else already has. They've got customers that you want, they have talent that you want, they have the technology, the income, whatever that thing is.  By structuring partnerships with those people or buying their business from them, you can gain access to the things you want without having to create them from scratch yourself.”   Ace shares how he has used joint ventures to reduce costs in his businesses. He explains how to identify and build relationships with valuable investors and partners, and how to establish trust when negotiating a partnership. We discuss how strategic alliances can help business owners buy and own important resources like traffic sources and audience data, instead of simply “renting” them from a third party.  Ace also gives us a behind-the-scenes look at what he has been up to in the private equity space and his goal of “investing like the wealthy.” Ace Chapman is a wizard when it comes to business acquisitions and strategic growth partnerships, so don’t miss a second of this insightful interview! Topics Discussed in This Episode: The hidden benefits of joint ventures (04:45) The differences between joint ventures and affiliate/ referral programs (15:20) How to establish trust in a joint venture (18:15) What Ace has been up to in the fundraising and private equity space (21:07) How Ace has structured his private equity fund (29:57) Ace walks us through an example of reducing costs through joint ventures (40:53) Ace’s advice to beginners who want to start their own private equity fund (43:15) The bigger the business the bigger the opportunity (46:09) The average hold length for the businesses in Ace’s fund (50:40) How to source investors for your own private equity fund (1:00:08) Mentions: Empire Flippers Podcast Empire Flippers Marketplace Schedule a call with our expert sales advisors  Create an Empire Flippers account SoloConglomerate.com Predator’s Ball by Connie Bruck Killing the Sacred Cows of Publishing by Dean Wesley Smith Sit back, grab a coffee, and learn how joint ventures can accelerate your business growth!