Simple Joint Venture Secrets 1 Simple Joint Venture Secrets Simple Joint Venture Secrets 2 Table of Contents Joint Ventures Exposed ..................................................................................3 What is a Joint Venture? .................................................................................3 Joint Ventures in Internet Marketing ...............................................................4 How Does a Joint Venture Normally Work?......................................................6 Types of Joint Ventures...................................................................................7 The Overwhelming Benefits of a Joint Venture .................................................8 Working Alone vs. Leveraging on Joint Ventures.............................................10 Joint Venture Success Formula......................................................................12 Invest in Yourself..........................................................................................12 Understand That Your JV Partners Are Really Busy People ..............................13 The 3 Things A JV Partner Often Look In To Offer............................................15 Recruiting JV Partners-A Number Game You Can Control................................16 It’s Really All About Finding The Right Partner................................................17 Use JV’s To Make Sales And Build List. Nothing Else........................................19 Recruiting Joint Venture-Step by Step...........................................................20 Get Your Offer Ready First.............................................................................20 Starting Your Own Affiliate Program ..............................................................22 Identify Other Marketers in Your Niche or Industry ........................................26 Approaching Potential Partners via Email.......................................................27 Approaching Potential Partners via Phone .....................................................28 Approaching Potential Partners via Chat Program ..........................................30 Getting Your Potential Partners to Sign Up.....................................................31 Follow Through with Your Potential Partners .................................................33 In Closing.....................................................................................................34 Wealth Goes to Those Who Leverage on Joint Ventures .................................34 Prime Examples of Successful Online Joint Ventures.......................................36 Joint Venture Success Tips ............................................................................37 Simple Joint Venture Secrets 3 Joint Ventures Exposed What is a Joint Venture? A business game arrangement in which two or more parties consent to pool their assets with the end goal of fulfilling a particular assignment. This task can be another project or some other business movement. In a joint venture (JV), each of the members is in charge of profits, losses and expenses connected with it. Notwithstanding, the venture is its own entity, separate and separated from the members' different business intrigues. The parties consent to make another entity by both contributing value, and they then partake in the incomes, costs, and control of the venture. The venture can be for one particular venture just, or a proceeding with business relationship, for example, the Sony Ericsson joint venture. This is rather than a key partnership, which includes no value stake by the members, and is a significantly less unbending game plan. There doesn't need to be a high danger of disappointment included and another entity is not so much framed. People and companies do joint ventures constantly… out in the block and mortar world and additionally in the internet. Now that it’s out in the open, the joint Simple Joint Venture Secrets 4 venture is one of the better kept mysteries of Internet promoting. The joint venture is a thought as old as time. The stone-age men undoubtedly made sense of that by pooling their ventures they could all the more effectively bolster and clothe themselves. By pooling abilities and resources quite a lot more can be fulfilled than any one individual or organization could perform alone. That is the reason such a large number of people and organizations go into joint venture agreements. Joint ventures are the stuff that fortunes are made of. One of the better known joint ventures of advanced times is the particular case that Bill Gates, of Microsoft fame, went into with IBM, the monster of the electronic business. Bill Gates had created DOS while IBM had piece of the pie. The rest, as it’s been said, is history. Simply think what our reality would be similar to if that joint venture had never happened. Also, Bill Gates was a tycoon before he was 31. Joint Ventures in Internet Marketing A joint venture in Internet marketing is defined as, “A mutually beneficial cooperation between web site owners” according to the Internet Marketing Dictionary. Commonly joint ventures in Internet marketing are entered into between someone who has built a new and creative product or Simple Joint Venture Secrets 5 services however has no Internet marketing history and no list to market his product or services to and a set up Internet Marketer who has spent years building up his list and his notoriety. This is the sort of understanding that can be depicted as a win-win circumstance. The joint venture gives the designer of the new product or service access to potential clients that he would not generally have admittance to and the accomplished Internet Marketer obtains entrance to new product or service that the individuals from his list can profit from. Both the product/service developer and the Internet Marketer make a benefit that neither of them would have made without the other and that is the very substance of the joint venture. By joining forces and pooling resources and talents, a joint venture allows all parties to accomplish more than any one of them could have accomplished alone. The fact is that the joint venture is one of the better kept secrets of successful Internet Marketers. You can have been trying to break into the Internet marketing game for a very long time before you have ever heard the term. Joint ventures are certainly not a new concept, however. They have been around since Internet marketing began. For the new Internet Marketer, the joint venture is the quickest way Simple Joint Venture Secrets 6 to making a profit. The old pay-per-click advertising way is expensive and not near as effective as the joint venture. By entering into a joint venture agreement with an established Internet Marketer, a newbie can get his product or service offered to those most likely to buy it at almost no cost quickly and efficiently. How Does a Joint Venture Normally Work? Oftentimes, even very well established Internet Marketers will enter into a joint venture enterprise including those who are in direct competition with one another. Why, you ask, would competitors ever agree to a joint venture? The answer is simple: Joint ventures are just simply good business and even competitors can both make a profit by using them. Neither marketer is entering into a joint venture for the purpose of helping his competition. He is entering into it to help himself. At first glance, the joint venture agreement looks a bit daunting but actually it is pretty simple. A joint venture just joins the customers, advertising, products, services, knowledge, skills, etc. of one website owner with those of another website owner for a specific project. Joint venture agreements can be between two or more website owners. Simple Joint Venture Secrets 7 Let’s say that an established Internet Marketer develops or acquires the rights to a product or service that would be beneficial to his own list of potential customers. He could sell that product or service only to his own list and make a nice little profit. However, by entering into a joint venture agreement with other website owners who have lists of potential customers that would be interested in the same product or service, he could multiply his sales many times over. The owners of the other websites get the opportunity to recommend the product to their own lists and make a profit as well. Everybody wins. The joint venture works for established Internet Marketers, as well as, for new comers to the Internet marketing field. Established Internet Marketers are always on the lookout for new and innovative products and services that would help their customers. Types of Joint Ventures There are basically two types of joint ventures, the Insider Joint Venture and the Outsider Joint Venture. Both kinds are profitable the difference is who the partners in the agreements are. The insider joint venture agreement allows all parties to it access to the same private areas of the business such as the administration Simple Joint Venture Secrets 8 panel, accounting, sales records, and other insider’s knowledge. The product or service that is the focus of the agreement is usually developed as a joint effort by the parties to the agreement. Ownership of the product or service is jointly held. The Outsider Joint Venture is the kind that is most common in the Internet marketing arena. In this kind of joint venture, there are no common administration panel, accounting or sales records. Each entity remains separate. Usually an individual or company has developed a product or service but has no customer base to market it to. The individual or company will approach an established marketer who does have a customer base, list or market share that would be interested in the product or service. They enter into a joint venture agreement where costs of marketing and profits made are shared. Sometimes there is an even split and sometimes the split is on a percentage basis other than 50/50. The joint venture enterprise can be profitable to all parties to the joint venture agreement and the cost of advertising is minimal. The joint venture is an old idea that is being made new again via Internet Simple Joint Venture Secrets 9 marketing. The Overwhelming Benefits of a Joint Venture There are so many benefits of entering into a joint venture for a new Internet Marketer. Have you ever heard the old saying, “It’s not what you know but who you know that matters”? Internet marketing is the embodiment of that saying. Established Internet Marketers have spent years building lists of potential customers so they certainly know the right people to market to. The new Internet Marketer needs to gain access to those lists of the right people in order to break into the Internet marketing arena and joint ventures are the way to do that very thing. Here is just five of the overwhelming number of benefits available in a joint venture with an established Internet Marketer for the newcomer: Access to a potential customer base that would otherwise be inaccessible. Established Internet Marketers have lists of customers that would be most likely to purchase the product or service you are selling. Simple Joint Venture Secrets 10 The possibility of establishing a good working relationship with an established Internet Marketer that could turn into an ongoing and mutually profitable arrangement. Associating yourself with a successful partner can help to establish credibility for you and open many doors. Your joint venture partners’ credibility will be passed on to you simply by association. A joint venture can help you to build your own opt-in list. The allimportant opt-in list is the backbone of Internet marketing. Building lists takes years but with a successful Internet Marketer as a joint venture partner, you can cut the time needed in half. You will be guaranteed a much larger response to your new product or service than you could ever hope to generate on your own. The joint venture is the best and quickest way for a new Internet Marketer to become established. Working Alone vs. Leveraging on Joint Ventures “Two heads are better than one!” Haven’t you heard that old adage many times? How about, “Many hands make light work”? Have you heard that one too? The essence of these adages is that cooperation is an advantage and one that is too often overlooked. Simple Joint Venture Secrets 11 The fact of the matter is that one person can only accomplish so much in an hour or a day or a week. That output is limited to what only he or she can do alone. But if you add what you can do to what another can do, the output rises and more is accomplished than either could have accomplished alone. This is the idea of the joint venture in Internet marketing. One person sitting behind a computer who has developed a new and innovative product or service that they know would sell like hotcakes to the right market but who has no experience in marketing on the Internet has only a product or service while the established Internet Marketer is sitting behind another computer and has a long and well established list of potential customers but needs a product to offer to them has only a list. By entering into a joint venture agreement, both can accomplish what neither of them alone could have done. This process is called ‘leveraging’ and it works for both (or all) parties to a joint venture agreement. The idea is to use your strongest assets in conjunction with another website owners’ strongest assets and leverage a stronger Internet marketing advantage for both or all parties. It isn’t at all hard to set up a joint venture agreement and it produces Simple Joint Venture Secrets 12 such overwhelming benefits for all concerned. Remember those old adages and set out to find joint venture partners for yourself. Joint Venture Success Formula Invest in Yourself “Put your money where your mouth is” is an old saying that is used to challenge a person to bet on himself and on what he believes he thinks he can accomplish. A great idea has no more value than a wisp of smoke until it is backed up with an investment of hard work and money and brought to fruition. Until you have invested your own time, effort, energy and, yes, money into your idea, it’s a pretty good bet that nobody else is going to invest anything in it either. Maybe you have an idea for a product or service that you are certain will sell like crazy in a certain niche on the Internet and maybe you do. However, in order to ever get that product or service sold you are going to have to invest in yourself and your idea. You will need to do the required research to determine if the idea is feasible and if there is, in fact, a market for the product or service you want to sell. You may need to purchase software or info-products to Simple Joint Venture Secrets 13 help you get your product or service into being. Creating a product or service can take a huge investment of time, effort and energy, as well. When you approach an established Internet Marketer with your idea and a joint venture plan, he will first look to see how much you have invested in its creation. If you don’t believe it yourself and your product or service, he won’t either. He will look to see how much of your own time, effort, energy and money you have invested before he decides how much of his own he is willing to invest. Invest in yourself so others will be willing to invest in you, too! Understand that Your JV Partners Are Really Busy People It happens all the time. A novice Internet Marketer approached an established Internet Marketer with a joint venture proposal only to be told, “Sorry, but I’m just too busy right now”. The novice marketer feels like he just got blown off and that the well-established marketer didn’t even take the time to hear him out. That wasn’t, however, the most likely case. Successful and established Internet Marketers are very busy people. They probably work more hours in one day than others work in two or even three days. These successful men and women don’t have a starting time or a quitting time built into their days and nights. They probably dream Simple Joint Venture Secrets 14 about their projects when they do sleep. When one of them is approached with a joint venture proposal they are certainly interested. Joint ventures are their bread and butter but they only have twenty four hours in a day just like everybody else and when they have twenty of those hours spoken for they really can’t take on another project at that time. It doesn’t mean they can’t or won’t take it on at a later date. As a new Internet Marketer, it would be wise to approach an established and successful Internet Marketer with a joint venture proposal that they can plainly see will make them money and not require hours and hours of their valuable time. You need to have done all of the research regarding your product or services’ marketability. You need to show that there is, in fact, a market for your product or service as it relates to their lists. Your proposal needs to be short and simple and your sales letter needs to be top drawer. The main thing to remember is that successful Internet Marketers really are busy people and ‘I don’t have time’ doesn’t mean ‘I will never have time’. Simple Joint Venture Secrets 15 The 3 Things a JV Partner Often Look in Your Offer A joint venture partnership with an established Internet Marketer is the quickest avenue to success for the novice Internet Marketer or for an individual who has created a product or service but has never done any Internet marketing. Partnering with an established marketer gives a newbie instant credibility and access to the best market for his product, service or idea. When approaching an established Internet Marketer with a joint venture proposal, an individual should realize that there are three main things that the marketer will evaluate when determining whether to accept your joint venture proposal. First: Product Quality will be considered and looked at very carefully and from every angle. The successful Internet Marketer is not going to recommend an inferior product or service to the members of his list. He has put a great deal of time and effort into establishing himself as a reliable and dependable provider of information…an inferior product or service could undo all of his hard work. Check what you are offering to make sure it is of highest quality possible and that it delivers what is promised. Second: Market and demand for the product or service has been well Simple Joint Venture Secrets 16 established. You must have done your research and be able to prove to him that there is a market as well as a demand for the product or service you are selling. No matter how great your new buggy whip might be, there just won’t be a market for it and no demand either. What you are selling needs to be relevant to today’s market place. Third: How persuasive your sales letter is written will be the final determining factor. Even you have a high quality product or service for which you have established that there is a market and a demand, if your sales letter is weak, the established Internet Marketer will not bother with you. Recruiting JV Partners - A Numbers Game You Can Control Recruiting joint venture partners really is a numbers game but it is one that you can have at least a little control over. It is a common misconception that joint ventures are games played by the ‘big dogs’ of Internet marketing. Nothing could be further from the truth. Joint ventures are for us ‘little dogs’, too but it’s a numbers game that you need to learn to play to your greatest advantage. Once you have developed your product or service and have all of the bugs worked out, have determined that there is a market and a Simple Joint Venture Secrets 17 demand for what you have and have written a killer sales letter, you are ready to start hunting for joint venture partners that can help you launch your product or service. With only a little effort on your part, you can find out who the top marketers are in the niche or niches where your product or service will be best received. For example; if you’ve developed new and innovative accounting software, the niches where it will be best received are in the business community. You should probably look for companies who sell hardware from small to medium sized businesses and try to get a joint venture agreement with them to include your software into their product. The trick here, however, is not to approach just one potential joint venture partner but to approach as many as you can find. The more potential joint venture partners you can approach at the same time, the better your chances are for finding one or more who will be happy to partner with you. You need to be sure that all of the potential partners you approach are selling to the people who would be most likely to buy what you are selling. It’s Really All About Finding the Right Partner “He could sell iceboxes to Eskimos” is an analogy that implies that Simple Joint Venture Secrets 18 somebody is an excellent salesman. Just think how many more iceboxes this guy could sell in the tropics where iceboxes are actually wanted and needed. The thing about finding a joint venture partner is that he or she needs to be the right partner, one who has a list of potential customers who actually will need and want the product or service you are selling. If for example, you have developed a new and innovative house cleaning chemical product, it won’t do you much good to approach a company who sells swimming pool chemicals. Both products may be chemicals but that’s where the similarities end and his customers aren’t going to be in the market for what you are selling. Rather, you should approach companies who sell house cleaning chemical products. They are the ones who already have the customers that would be in the market for yours. The same is true for all Internet marketing. A marketer who has a list that he gives personal finance advice to won’t be interested in an ebook about dog care. Submitting such proposals is a waste of his time as well as your time. Look at the product or service that you have and determine the market where it would be best received then contact established Internet Marketers in that niche. If you have a wonderfully written and informative e-book written about dog care, Simple Joint Venture Secrets 19 the potential joint venture partners that you are most likely to find willing to join you will be selling closely related products. Their customers are the ones that are most likely to want to buy your ebook. Joint venture partners are certainly worth seeking out but they need to be the right partners. Use JVs to Make Sales and Build List...Nothing Else! The sole purpose of having an Internet business is to make money... that is the bottom line. Build a list, make sales, and make money…that’s the way it is done. That is what successful Internet Marketers do day in and day out. That is all they do…they aren’t in the business to pass out free advice or charity. When you approach a successful Internet Marketer with a joint venture proposal, you know exactly what you want to get out of the deal. You want to gain access to his list of potential customers, build your own list, gain credibility by association, and, of course, sell your product or service and make money. It’s a good idea to give some thought as to what your potential joint venture partner expects to get out of the agreement. He wants something…everybody wants something. Simple Joint Venture Secrets 20 What he wants is basically the same thing you want. He wants to build his list, make sales and make money... he already has credibility or you wouldn’t be approaching him. Your potential joint venture partner is a busy person and you need to be prepared before you propose a joint venture with him. What a successful Internet Marketer doesn’t want is to be asked to hand out charity to Internet Marketer wannabes with a half-baked idea. Before you approach a successful Internet Marketer with a joint venture proposal, you need to make certain that you have all of the bugs worked out; that you have established the fact that there is a market and a demand for your product or service and that you have already written a killer sales letter. Until you have done all of the above, you will just be asking for charity and successful Internet Marketers simply do not have the time or energy left for that. Recruiting Joint Ventures – Step by Step Get Your Offer Ready First! “Put your best foot forward” is an analogy that tells us to make a good first impression. You only get one chance to make a first impression... a good one can open doors and a bad one can nail those Simple Joint Venture Secrets 21 same doors shut permanently. Before you ever approach an established Internet Marketer with a joint venture proposal, you need to have your offer ready. Your product or service idea needs to be ready and have all of the wrinkles ironed out. It needs to be perfected to the highest degree you can get it to. You need to have followed the golden rule of Internet marketing....invest in yourself! Take your time and don’t rush through a process in order to get something to market before it is ready to go to market. You won’t make a good first impression if you do that. Take the time to perfect your product or service idea. Don’t be stingy with yourself. Buy whatever software or info-products you need in order to produce the very best product or service possible. Do the required research to determine that there is, in fact, a market and a demand for your product or service. No successful Internet Marketer is going to look twice at your joint venture proposal unless you have invested the time needed to accomplish this task. There are many products available on the Internet to help you write a Simple Joint Venture Secrets 22 sales letter that will get the attention of your potential joint venture partner. It doesn’t matter how many tries it takes to get your sales letter perfected....Just do it until it is right. There are no shortcuts worth taking. A good first impression... putting your best foot forward... perfecting your proposal to a potential joint venture partner needs to be well thought out and completely ready before you make any offer. Starting Your Own Affiliate Program If you have created a terrific product or service and have all of the bugs worked out and if you have set up your website to promote and sell your product or service, the next step you need to take is to find affiliate marketers and joint venture partners to promote your product or service for you. Affiliate marketing and joint venture agreements are the two biggies in Internet marketing. When you combine the two you get a real whopper of a deal. The place to go on the Internet to find joint venture partners is http://www.jvmanager.com/. You will need to have already set up your affiliate marketing program and have affiliate marketers signed up to promote your product or service. Simple Joint Venture Secrets 23 Basically the idea here is to find people or companies (affiliate marketers) who will promote and sell your product or service for you on a commission basis and then to find joint venture partners who will combine with those affiliate marketers to promote your product or service to their lists of potential customers. You will need to sign up for and use the services of http://www.JVZoo.com/, http://www.clickbank.com/ and http://paydotcom.com/. These sites can help you greatly while you create your affiliate marketing program and locate joint venture partners. As one of the largest online retailers, Clickbank harnesses the awesome power of digital marketing partners combined with a vast library of over 6 million unique products in order to reach 200 million customers around the world. They are committed to featuring products that satisfy their customers and providing entrepreneurs with the right tools and resources they need to create, publish and market their products in order to grow their business. Once you get your affiliate marketing program up and running, you will be in a position to seek out joint venture partners for your product and your affiliate marketers. Simple Joint Venture Secrets 24 PayDotCom.com on the other hand was developed by Internet marketers with the needs of marketers in mind. It is here to benefit both vendors and affiliates by providing solutions to problems and issues that have plagued the industry for so long. They are extremely sensitive to the needs of marketers and pledge to always make sure PayDotCom.com is on the cutting edge of the needs of our members. So whether you want to sell your own products, get an army of affiliates, or just make easy extra money selling other people's products, then take a look and see why PayDotCom.com is one of the fastest growing affiliate marketplaces in the world. With JVZoo, you can manually approve each affiliate. You can do this with Clickbank as well, but the traditional thing on Clickbank is to put it in the marketplace for anyone to promote if you want to improve your chances. JVZoo allows for you to have each affiliate send you a message that explains who they are and how they plan to promote your product. This is a good thing if you are worried about what I described before. The last thing I should bring up is that having your product with JVZoo is free. Clickbank charges $40 to have your product up with them and Simple Joint Venture Secrets 25 in their marketplace. JVZoo is also a lot easier to use and they will host your product and sales page for you. Clickbank requires you to have your own site already and a means of hosting your product and protecting the download link so people can’t share it. If you want something a little easier, especially if it’s your first information product, then perhaps JVZoo would be a better avenue for you. Either way though, you cannot go wrong. Having your product on JVZoo or Clickbank won’t make or break your success. If you’re wondering who has the better affiliates or which is better for your niche, at the end of the day, you need to market your product. You can’t rely on those things or think that they will help carry your product. You need to be the one who generates interest and gets those initial sales. If your product is selling well, the good affiliates will find you. Clickbank and Paydotcom are the biggest marketplaces for e-products and affiliate programs and jvmanager is the place to go to find joint venture partners to help promote your products to their lists. Combine affiliate marketing and joint ventures and you will have a winning team. Simple Joint Venture Secrets 26 Identify Other Marketers in Your Niche or Industry There are niche markets for everything under the sun so your idea for a new product or service falls into at least one of them. Think of the Internet market place as a grocery store. Imagine the aisles. There is an aisle for canned vegetables and on that aisle the different canned vegetables are categorized into asparagus, string beans, English peas, etc. If someone came up with a new variety of string beans and got it canned and to market, it would be stacked with the other canned varieties of string beans…not with the carrots and not with the cleaning supplies. It would be in its own niche. The developer of this new string bean would have sampled all of the other string beans on the market and figured out a way to make his different or better than what was being offered in the market place. In the Internet market place, there are ‘aisles’ (niches) for all kinds of products and services. If you have an idea for accounting software, you need to look on the software aisle and find accounting software products. You need to know what is being offered and by whom. You need to identify your major marketing competitors. See what they are offering and find a way that you can do it better, cheaper, faster or more efficiently. Once you identify your main marketing competitors, you can find out everything you need to know about them by searching the Internet. It Simple Joint Venture Secrets 27 isn’t called ‘the information super highway’ for nothing. See what the competition is offering and find a way to do it better. See how they are marketing their products and find a way to market yours better. See what they are doing right... see what they are doing wrong and make use of that knowledge. Approaching Potential Partners via Email After you have identified your prospective joint venture partners, the next thing to do is to contact them. Many times only email contact information is given on the websites of your potential joint venture partners. Remembering that they most likely get hundreds of emails every day, you will need to construct your email message in a way that will get their attention and hold it. This is not the place to take a shortcut. Have your prospective joint venture partners’ website open on your browser as you construct your email to them. Your email can start with something like; “Hello. This is your name with your company name. I am looking at your website right now and I am very impressed with what I see. Our businesses complement one another and I believe that my customers would be very interested in your product. Your customers would be interested in our product as well. Would you consider a joint venture Simple Joint Venture Secrets 28 to create a special offer for your customers as well as mine?” Go on to say that you are willing to offer a 60% commission on sales of your product to their customers. You need to make it very clear that your object is to create a win-win situation and that they will win more than you will win. You need to offer to send them a free copy of your product for them to evaluate and suggest that you talk via telephone. Be sure to give your own contact information and make it a prominent display in the email. It is important that you understand the business model of your prospective joint venture partner so that you construct your proposal in a way that will be most appealing to his specific way of doing business. Approaching Potential Partners via Phone After you have identified your potential joint venture partners by doing Google key word searches, searches of e-zine directories and business directories, the next thing you do is visit the websites of your best prospects. On these websites you will find contact information. Sometimes you will find only email addresses but sometimes you will find phone numbers. If you have both, choose the phone number contact information first. Simple Joint Venture Secrets 29 A personal contact has a better chance of success than an email contact and it’s a lot faster. With an email contact you must wait for the recipient to wade through all of the emails he receives each day and get around to responding to yours. Make yourself very familiar with the company you are contacting about partnering with. When you make the call have their website open on your browser and be ready to discuss any aspect of the business. You might begin your telephone conversation by saying something like: “Hello. This is your name with your company name. I am looking at your website right this minute and I am really impressed with what I see. I believe that my customers would be very interested in (name a specific product) that you sell. Your customers would also be interested in our (name the product you sell). They certainly do complement each other. Would you be interested in teaming up and making a special offer to your customers?” Don’t just keep talking here. Give the person you are talking to time to respond to your question. If he or she responds in a positive way, Simple Joint Venture Secrets 30 begin to make it clear that you are interested in creating a win-win situation and that you are willing to let them win more than you will win…such as offering a 60% commission on sales of your product to their list. Approaching Potential Partners via Chat Program Chat is big on the Internet. Everybody does chat in some form. It is an extremely useful tool when approaching potential joint venture partners. Much information can be exchanged in a very short period of time and time (precious time) does matter to busy Internet Marketers. Anything that will save time is a valuable tool and chat programs qualify. There are, of course, many different chat programs to choose from and depending upon the joint venture partners you have or want to have, you many need more than one chat program on your computer. The Skype program is one of the very best especially for international chats and phone calls. You can call other Skype users free of charge and call those who are not Skype users at a very reasonable rate…about two cents per minute for calls within the United States and sometimes calls to other Countries are even free on weekends or during special promotions. MSN Messenger is another free chat service. The calls between users Simple Joint Venture Secrets 31 computer to computer are free. They have national and international calls available at reasonable rates telephone to telephone. ICQ is probably the oldest chat program around, at least it’s the first one that I ever heard of. ICQ offers chat rooms that make communication among many partners easy and quick. GTalk is a part of the beta program being offered by Google. It does require that you have a Gmail address but the address is simple to get and the software is easy to use. Any of the above chat programs are good and any alone are more than adequate for talking with your potential joint venture partners. Conference chat sessions can keep all of your partners in the loop and on the same page. Getting Your Potential Partners to Sign Up You’ve perfected your product or service. You’ve set up your website and initiated your affiliate program. Good for you. Now you need to get some joint venture programs going that will really put you and your product or service on the map. It’s a great idea but the question is how do you get potential joint venture Simple Joint Venture Secrets 32 partners to sign up? The first thing that you do, of course, is to contact your potential joint venture partners. These are the ones have good website traffic, good sized mailing lists, and who target the same market that you do. You can contact them by phone, by email or by an instant message service. Make them a win-win offer that leans in their favor. You can send them a free copy of your product for their evaluation. You can offer the product to them by phone or by email or you can just mail it to them. Even if they aren’t interested at the time, it could be that they will become interested in the future. You can do something for them first such as list them as a resource on your website and let them know that you have done that for them. Send them information that proves the positive results of your other affiliate marketers or show them how well your website converts visits into sales. Send them a copy of your joint venture offer listing commissions, contest rewards, and any residual sales agreements and offer to promote their sales campaign on your own website once the launch is over. Simple Joint Venture Secrets 33 Tip: do not ever give up after one ‘no’ or even after several of them. Persistence is a virtue in Internet marketing and particularly in recruiting joint venture partners. Follow Through with Your Potential Partners There was a famous advertising slogan…”set it and forget it”. Great idea but it won’t work with joint venture partners. They are never set and you better not forget about them or they will most certainly forget about you. You can line up joint venture partners and do the initial mailing campaign. Sales will pile in and the world will take on a rosy glow but after a few days or weeks, sales will fall to nothing. There isn’t any point in starting over with all new joint venture partners. That will take too much time and energy. The better thing to do is to motivate the partners you already have to continue making sales for you. Here are a few ideas that you might use to keep your joint venture partners working for you: Send them articles that they can send out in their mailings that include links to your product or service. The articles can also be added Simple Joint Venture Secrets 34 to their article collection on their website. Remember that all website owners are always looking for content. Do a special report that they can offer to their subscribers or, even, something they can make available as a download from their website. Write a mini course that they can put on their auto responder with links to your product, of course. Send them a new banner ad for their website. Audio and video are big and getting bigger on the Internet today. You might even consider creating an audio/video product for them to use on their website. Tip: keep your joint venture partners motivated, inspired and, most importantly, well-armed so that they will continue to promote your product or service in the weeks and months (maybe years) well beyond the launch date. In Closing Wealth Goes to Those Who Leverage on Joint Ventures The Internet is the last great frontier for the small business owner and for those who create new products and services. Out is the big bad Simple Joint Venture Secrets 35 brick and mortar world of commerce, the small business owner really doesn’t stand much of a chance in competing against International marketing giants. The Internet leveled the playing field, so to speak. The heavy hitters can build a website and compete, of course, but the little guy’s website is just as big and impressive as the one a giant International corporation can build. The big guys have very deep pockets for advertising their products but those who own small ebusinesses or who create new and innovative products and service have joint ventures to help even the odds. The small e-business owner or an individual who develops a new product or service can search for and find other e-business owners or owners of long lists of potential customers and do a joint venture to launch the new product or service and advertise it directly to those most likely to buy it. The product can be advertised and launched at almost no cost. By using a joint venture to leverage the most advantages possible, the small e-business owner or individual can launch a new product or service and gain the following advantages as well: 1. Build their own opt-in lists for future launches. It isn’t the least bit unusual for hundreds of new subscribers to be added within hours of a product launch. Simple Joint Venture Secrets 36 2. Gain instant credibility by association with other successful Internet Marketers or companies. 3. Create instant access to the market that you product or service is most appealing to and do it at very little or no cost. 4. Make a great deal of money in a very short period of time and do it while establishing excellent working relationships with joint venture partners. Prime Examples of Successful Online Joint Ventures A joint venture is an agreement made between two or more individuals or businesses to launch and share in the associated costs and profits of a product or service. Sometimes a separate entity is formed but usually that isn’t the case. It is a simple agreement for the production and/or sale of one product or service. The joint venture is a tool that is used by successful businesses online, as well as, offline and has been for as long as business has been conducted. The most recent example of a successful joint venture is Edmund Loh’s joint venture of PLRGold in which he invited others who own lists and subscribers interested in private label Rights and resell rights to join him in the launch. Mr. Loh’s PLRGold product was launched on July 18, 2006 and immediately skyrocketed to the top seller list. He and his joint venture partners are doing very well. Simple Joint Venture Secrets 37 Another example of a successful online adventure was the recent launch of ‘Meeting with the Masters’ product by Tim Erway and Jesse Jameson both of whom are top Internet Marketers. This product is a series of 15 phone calls recorded and transcribed in which Internet marketing tactics and secrets are revealed. Probably the most famous and successful Internet joint venture is the one that you are enjoying the results of right now. It was a joint venture entered into by Bill Gates and Microsoft and IBM. Mr. Gates had developed the DOS program but had no market and IBM had a huge market share. The collaborated on the joint venture and the rest, as they say, is history. You are using a computer that would never have come into being without that joint venture. Joint Venture Success Tips Before you ever approach a potential joint venture partner, of course, you need to have done three very important things and done them well. The three things are: 1. Perfected your product or service... worked all of the bugs out. It needs to do what it promises to do and do it every time. 2. Done the research to prove that there is a market and a demand for your product or service. Simple Joint Venture Secrets 38 3. Heavily invested in yourself... you should have worked hard to have built your own credibility. Once you have accomplished all of the above and have located one or more joint venture partners to help you launch your product or service, there are things that you must do to get the most advantages out of the product launch and beyond. 1. Build strong and lasting working relationships with you joint venture partners. Be sincere and completely honest in all of your dealings with your partners. Be friendly and get to know them on as personal a level as is possible. 2. Look beyond the end of your nose. This relates to #1 above. Don’t see this product launch as a one-time deal. Look at it as a stepping stone to future launches and future joint venture projects with these same individuals. 3. Look at the experience through the eyes of your joint venture partners. Don’t be a part of the problem, be part of the solution. Don’t make waves. Be cooperative and easy to work with. 4. Work as hard and as long as you need to before, during and after the product launch. Don’t be ‘out to lunch’ during the product launch period. 5. Make yourself available at any hour of the day or night. Problems happen and you must stay in touch and available.
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