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How do joint ventures increase your profit
by: phoenix021new
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Word Count: 582
It was a revelation for me to come to the conclusion that not all marketers online are my competition. It was a 180 degree shift in thinking which prompted me to join up with another marketer and work together to improve both of our profits.
Joint venture was one of the big buzzwords (phrases) of 2005, and since I tried it for myself, I can now understand why. Previous to doing my first Joint venture (or JV as us marketers like to call them) I looked at anyone who was selling anything online as competition, someone to beat to the sale.
It was a few months ago, Joe Hebert asked me to work with him on a project, and when we got talking, his idea was one which I had already started but put on the backburner, namely a membership site. Now look at your own marketing, and online activities and see if you have some way in which a joint venture with someone could benefit your business. Maybe you need someone who can setup a script, or website, or you have some ideas which need a particular talent you don't have, you can barter with someone else who has what you need to make a profitable partnership which works for both of you without paying out hard cash for it.
Joe had a lot of resources which I'd needed, including a great webhosting deal, and loads of information products to put into a membership site. I had a domain name and all the site layout, and graphics ready to go. The reason I hadn't gone further is because I didn't have the capital to add what I thought would be enough products to the site, which my new partner did. I also didn't have the time to upload all the products, my new Joint venture partner did.
My JV partner didn't have an email list to promote a new venture to, and didn't have the knowledge to get the scripts running to make the site automated. I had a domain name and all the site layout, and graphics ready to go. The reason I hadn't gone further is because I didn't have the capital to add what I thought would be enough products to the site, which my new partner did. I also didn't have the time to upload all the products, my new Joint venture partner did. I had those skills, and resources, so we teamed up.
In just a few days we had a new membership site at up and running and taking orders. Joe took care of the hosting and products, I took care of the design and promoting to a warm prospect list. Together we are making it work, where singly we had both struggled.
Now look at your own marketing, and online activities and see if you have some way in which a joint venture with someone could benefit your business.
Maybe you need someone who can setup a script, or website, or you have some ideas which need a particular talent you don't have, you can barter
with someone else who has what you need to make a profitable partnership which works for both of you without paying out hard cash for it.
Don't make the mistake I made, see everyone as a potential partner in profit, instead of an opponent to defeat. Start doing some joint ventures, you
won't necessarily halve your profits, and you may well make more by sharing the work with someone.
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