As crazy as this may sound, your competition may just be your biggest key to more customers, and possibly even your best joint venture partner.

Not all competitors are direct competitors and whilst you may both sell some of the same products or services, chances are your businesses remains fundamentally different.

Here are a few reasons to consider partnering with your competition:

#1: Your prospect list will double:

Your competition no doubt has a prospect list that would prove highly beneficial to your business, since their prospects are very likely interested in what you have to offer.

Teaming up with your competition to unite prospect lists for a promotion will result in many of your partner's customers joining your list and vice versa. If you can find common ground to work together, this can be a potential goldmine.

#2: Credibility:

The general public will perceive you as having more credibility when you partner with another business in your own market niche.

If you partner with your competition your customers and prospects will perceive it as a strategic team, and the power of two or more holds much more credibility in the eyes of the public.

Additionally you will be perceived as a good business person because you have the forethought to partner with another business. It gives your prospects faith and respect in you and your business.

#3: Product bundles:

If you have products, teaming up with your competition can result in fantastic product bundles to promote to both your list and your partner's list.

#4: Product creation:

Partnering with a competitor to create products can result in tremendous profits. Depending on your niche, products can range from books and software to seminars and workshops.

Contrary to common thinking, when you partner with your competition, you're not limiting your profits but rather boosting the profit opportunities to a whole new level.