How to Turn a Terrible Bankruptcy Into a Profitable, Win-Win Joint Venture

The sad truth every business owner faces today is that sooner or later, 9 out of 10 of us in business will go bankrupt.

Bankruptcy is always a terrible thing for everybody affected. Everyone loses - customers, business owner, creditors, suppliers, employees.

NOBODY ever gets all the money they're owed (except secured creditors, who even then can lose out). And almost EVERYBODY loses something from a business gone bust.

BUT - there IS a little-known way to turn a business ALREADY bankrupt (that is, they've shut their doors, fired the employees and put the "For Lease" signs up) into an incredibly profitable, win-win-win money-making joint venture.

Let me explain.

In my opinion, the most valuable assets most average businesses have is not their equipment, inventory, accounts receivables or work-in-progress - it's their PHONE NUMBER and CUSTOMER LIST.

In many cases more money is spent over the lifetime of a business building the value of these two assets alone than almost any other business expense or investment. But for some reason, when the business goes bust and the liquidator is appointed, these assets are almost NEVER sold.

Which is very strange when you think about it. If a business goes bust, their phone number is still out there (on Yellow Pages Ads, directory listings, business cards, invoices, brochures, promotional materials and so fourth) and will be generating new enquiries for several months - even years - to come. And the existing customers are still there. All they need is someone else to buy from!

This creates an amazing opportunity to create a win-win-win joint venture, whether you're the owner of the business gone bust or a competitor.

BOTH of you can make money - ethically - and make the most of a bad situation by simply having the other business owner explain his/her situation to their customers and recommend you - the competitor - as the best alternative. Then, simply split the profits.

Plus, the bankrupt business owner can LICENSE his/her business phone number to a competitor and charge a percentage of profits created from ongoing leads. This works especially well if the phone number is in the Yellow Pages or any other directory or classified listing.

Everybody wins in a joint venture like this. The competitor wins because they'll be getting a ton of new business for no cost. The bankrupt business owner wins because he/she gets to keep a slice of their most valuable asset - their customer list - which may help pay off debts over time.

And - the creditors win because, if patient, they can often make a lot more of their money back over time than they otherwise would.

Oh, and in case you think it's sneaky or unethical to buy your competitors phone number and divert all the incoming leads to your business - you can simply tell these new potential customers that your competitor has gone bust and all new enquiries have been diverted to you. Most of them won't care anyway, as long as you offer the same value.

These joint ventures are incredibly easy to put together and can work more effectively than traditional joint ventures. Whether you're a joint venture broker, business owner or liquidator - this is a type of JV you can do all year long with PHENOMENAL results.