Associate is an English word, used with many meanings. For those who work in the business field, this word is too familiar. However, for non-specialists, they still have a lot of doubts and ambiguities about the meaning and usage. So the following article will provide the information you need.
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1. Meaning of associate in English
Associate is a word that is used a lot in today’s society. However, not many people have a proper understanding of this word. This is a verb in English, which means to combine, to cooperate, to join together. At work, it can be considered from the perspective that two people or two companies or organizations have the same ideas and thoughts, so they want to collaborate and link together for a common purpose. The word associate also has another meaning, expressing the desire to make friends and communicate with each other. When appearing as a noun, the word associate has a very easy to remember meaning because it is quite close to the meaning of the verb. The first meaning is only colleagues, collaborators, allies. The second meaning is only information members, news academics, (this meaning is not discussed in this article)..And the last meaning is only things that depend on other things, things associated with other things.
In short, associate here represents a work or emotional association of people.
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2. Distinguish the difference between business associate and affiliate?
Business associate can be understood as a business cooperation or business partner. Since this is an English word, it is very difficult to translate the original meaning into Vietnamese. Business cooperation is considered as a strategy to help both sides soon achieve their benefits. This cooperation can take place in any field such as technology – information industry, finance, etc. The purpose of cooperation is many. Sometimes a party with capital wants to invest and a party with a product needs to find an investor. They cooperate with each other based on a contract and will generate profits for both. Sometimes there is a very strong business in the commodity market, so two smaller firms decide to work together against the other.
A real-life example of a business partnership is the case with singers and the Tiki brand. To shoot a quality MV that makes the audience excited, in addition to the catchy song’s melody, a careful investment in the image is essential. The image here is an investment in filming locations, suitable props, costumes… In short, it is very expensive, many singers, even though the money they make when they sing or attend events, they are rich enough, but after After filming an MV, maybe it’s “poor”. Even have to borrow money to invest in making MV because today’s audience has very high requirements for the quality of the released product. So advertising appears as a savior for singers. By accepting to spend a few short seconds in their products to advertise for Tiki, many singers earn a good amount of money to make up for the money spent filming the MV. In addition, the brand also follows the name of the singers while promoting the image and selling the products. As such, this cooperation is mutually beneficial, which is why it is so popular nowadays.
What is Affiliate? Translated into Vietnamese is affiliate marketing. This is a form of promoting products to consumers based on affiliate marketing. That means there will be a business that cooperates with product promoters, these employees can find more collaborators for themselves.
This cooperation takes place when businesses already have a sales website or an e-commerce site. Then, collaborators will visit these pages to view products, select products, and then promote themselves. If a customer clicks on the product link you recorded and buys the product, you will receive a commission. The more buyers, the higher your salary will be. To be able to advertise successfully, you need to spend a lot of time learning about advertising, thoroughly understanding the market needs. Some advertisers are very professional, they usually do it in two ways.
The first way is to write articles. You need to use product knowledge plus literary aptitude to write a product-related article. Next, you insert the link of the product and wait for the customer to read it. If they find the article convincing, they will click on the link to buy the product. This is a common way, new affiliate marketing should learn first. However, its disadvantage is that it is laborious, time consuming and the obtained efficiency is not high.
The second way is to set up websites. Starting a website is difficult at first, but over time, it will grow and bring unexpected results. You can set up many types of websites such as comparing prices, comparing product quality, reviewing reputable shopping addresses… Some of the websites that have been built very successfully today are bloggiamgia.vn, Magiamgia.com, Sosanhgia .com… The above websites have been established for a few years, have a good writing style, receive a lot of trust, so they have a lot of traffic. To be able to achieve that, you need to try harder, work harder again.
The second way is to run ads. This method is both faster and more efficient than the above method. But it’s for people who specialize in Ads only. The amount of money you earn from running ads can be up to hundreds of millions per month. If you do not have the knowledge that you want to apply, you will have to pay a big price for it.
Business associate and affiliate are both cooperative business forms that bring benefits to both, but there are many differences between them.
In terms of position, when collaborating as a business associate, individuals or businesses participating in the cooperation are equal, and can suggest all their own ideas. As for the affiliate type, the product supplier is the main one, you are just an employee for them.
In terms of benefits, the business associate will split the profits according to the contract, usually of equal value. As for affiliate, the collaborator will receive a commission on a percentage of the product sold, the percentage of the commission is decided by the product supplier.
In terms of contributions, a business associate is a type of cooperation where both parties have to perform their obligations under the contract, and the contribution will determine the profit sharing ratio. Could be 5:5, could be 4:6, could be 7:3.
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Regardless of the profit, it cannot be denied, they have a role in producing and supplying products. As for affiliates, it’s the product supplier who puts in the most effort. They are either direct producers or source from a cheap source. Then they hire collaborators to advertise the product. In general, a simple understanding is that a business associate is a partnership between two manufacturers or suppliers of a product, and an affiliate is a partnership between a product supplier and an advertiser.
In terms of cooperation purposes, a business associate is a very complex, multi-purpose type of cooperation. Affiliates have only one purpose, which is to sell as many products as possible.
Business associate and affiliate are easy to distinguish from each other. Hope many of you will no longer be confused or wondering about these two concepts after reading the article.
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3. The principles to have when associate in business
For individuals, businesses, and organizations, each time they cooperate with each other comes from many purposes. Therefore, it is necessary to have principles of cooperation in business. This will be the foundation to make the cooperation go smoothly and smoothly.
Rule number one: always have a contract
Contracts have long been an integral part of supporting businesses. A company can cooperate with factory A to import production materials, can cooperate with investor B to expand production. Each time such cooperation, the parties will meet to agree on the work. So then how to remember all the topics that day? When a party does not fully perform the promised work or there is a dispute of interest, how will it be resolved? The contract will take care of all those issues. It will record a summary of important content that the two sides have discussed and agreed to. After that, if either party fails to perform the work as stated in the contract, the other party has the right to receive compensation or sue in court for money for breach of contract. The contract is evidence, is a commitment to cooperation, so it is usually kept in a secure place.
The second principle: fairness in rights and obligations. If you have a business idea but no money, the other person has. The two of you cooperate with each other on the basis of sharing the work. In the process of cooperation, two people have opposing opinions and conflicts arise. People with money often use money to force other people to follow their decisions. The person who has a business idea because it depends on the money and the contract gradually submits, but deep inside is very upset and angry with his partner. In the end, the business went nowhere, but the two suddenly became enemies. That is why it is best to clearly define the obligations of each person in the work from the beginning, clearly specify the benefits received after the project so that there is no dispute, over the limit.
The third principle: limited cooperation should not be taken lightly. Sometimes, thinking that the cooperation period is short, I draft a contract with many loopholes. No one can look at the face and picture it, in business being subjective will cause damage to ourselves. If the partner is kind, that’s okay. Once there is a conflict, the other party demands to cancel the contract or use the excuse to abdicate the contract, our efforts will be poured into the sea while the other side will leisurely shrug off responsibility. For example, a company that signed a contract to buy a product suddenly goes bankrupt, and we and our partners will theoretically bear the loss. But because in the contract it is not clear, we are the direct contact to buy and sell with the other company, so the other party has to throw everything away and pour it on our heads.
Rule Fourth: carefully consider the terms of cooperation and your financial situation before signing the contract. This teaches us a lesson, which is to do whatever you want, to account for all the worst things that can happen. If the worst comes and you can still cope, cooperation is okay. On the contrary, by that time, if the house is broken, affecting the family, you should consider it carefully. Either way, there must be a way out.
4. Should businesses associate with each other?
The answer is yes. Business cooperation raises many problems, but it cannot be denied the great benefits that cooperation brings.
Business cooperation makes the amount of money to spend less. With the same project, if you have enough money to do it yourself is best. But if you don’t have that much capital, the solution is to find a like-minded person to share. That way, you can still complete the project without spending a lot of money.
Business cooperation increases competitive advantages in the marketplace. He used to have a saying: “One tree can’t be young, three trees together make a high mountain”. Your small business alone can’t stand the battle of big fish eating small fish, the best way is to find a similar business. The strength of both will help you no longer struggle to cope alone like before. Sometimes the two businesses become even stronger than before.
Revenue business cooperation meets the purposes of both parties. Although the two sides cooperate with each other, it is not necessary to have a common purpose. Maybe one side is aiming for profit, the other party is aiming to build brand and image. However, as long as the contract is guaranteed, the cooperation will still go smoothly. From there, both sides gain their own benefits.
Above is the specific information about what is associate? We hope the article will be useful to you.