Developing win-win joint ventures is the fastest and most profitable way to skyrocket your online sales and boost your profits.
If you've been marketing online for any length of time, I'm sure you've heard the term "Joint Ventures." Some of you may know what it means, some of you may not. So let's define the term and I'll share my simple four-step formula for creating a win-win joint venture.
In the Internet Marketing world, a Joint Venture (JV) is a partnership between you and another business person to sell a product online by sending an e-mail to a mailing list. Sometimes you have the product, and your partner has the list. Sometimes it's the other way around. And sometimes you both have your own products and lists and you cross promote each other's offerings.
In each case, it's a joint venture.
Sounds easy, right? It can be with the right product and the right partner... and the right approach. If you follow the simple steps outlined below, you can be on your way to creating win-win joint ventures.
So what's the secret?
If you have a good idea, access or resale rights to a great product, or a responsive mailing list (size really doesn't matter) you are a perfect candidate to create a winning JV.
Secret #1: Do It Now!
Just like Nike, you'll never get anywhere if you sit in front of your computer with your great idea locked up inside you. Take a risk - ask the question. Identify potential partners and get in touch to share your idea. The worst thing they can say is no. Just do it! You don't have to have a big name or million dollar reputation to approach someone on a JV. What matters most is the fit of your product or service to their list, or visa versa.
Secret #2: Approach The Right Partners
We all know the names of the big Internet Marketing players: Alex, Armand, Michael... these are the guys with millions of names on their lists. "Wow... he has a huge list... I can make a fortune!" Not necessarily. While a big list is appealing, what matters most is the fit.
So who do you approach? If you sell custom chia pet designs, don't approach Armand Morin. Chances are, your service isn't right for his market. If you sell wedding planning services, approach a wedding officiant. The trick is to approach people who offer products / services that complement, but don't compete with, your offerings.
Secret #3: Get Personal
Getting up close and personal is the best way to JV success. Do your homework: visit the potential partner's website, try some of their products and find out the names of the key players in the organization. Learn all you can about their business and don't ignore the human factor - learn about their quirks and personality. You can learn a lot about a person by the words they use to express themselves or by the words that others choose to talk about them.
When you're ready to approach, let your own personality shine through. Write your email in such a way to be personal, and to the point but make sure you stand out from the crowd. A form letter won't grab someone's attention.
Secret #4: Think Win-Win
The best Joint Ventures are those where both parties win - professionally and personally. Don't get me wrong making money is good - making lots of money is even better; but great JVs are about more than just the bottom line. A GREAT JV is one that benefits both parties and starts a relationship that carries on to the next profitable project.
Remember: No matter what product or service you promote, you CAN find great JV partners to help you sell more in less time. And who knows, you may also create the foundation for a beautiful friendship as well.
Deborah Carraro is the Founder and Owner of Vascorp VA Services. Vascorp VA Services is the marketing support specialty company for solo professionals and entrepreneurs. Deborah specializes in creating infomation products and helping entrepreneurs forge new partnerships and joint venture relationships. Sign up for her free ecourse Introduction to Joint Venture Marketing at http://www.jv-mentor.com. She also publishes a monthly newsletter Vascorp VA Advantage. To subscribe or find out more, please visit http://www.vascorp.com/va.
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