INTRODUCTION
Table of Contents
The subject of Joint Ventures is one that you will face at some point in your online marketing business as you grow. I can almost guarantee it.
As you start having success as an affiliate marketer, or as an eCommerce marketer, or as a product creator, you will be faced with the question of how best to leverage your efforts to make more sales and profits.
JV Partnering is one solution that many others have used over the years and are using right now. The reason they use it is because it just makes too much sense not to.
Having someone work on your behalf to sell your products or serviced, one who does not get paid until they sell something, is one of the best ways to knock your profits out of the ballpark, metaphorically speaking.
For many people this is an entirely new world, as when they started with online marketing. Having some guidance on what is involved and how best to plan for and deploy JV offers would be extremely helpful.
That is exactly what you will find in this tutorial. I give you a good overview and also offer access to some additional drill-down training that together will get you started right!
Let’s get started…
WHAT IS JV PARTNERING
In internet marketing, there are two levels of Joint Venture partnering. Both are used depending on your situation as you move from affiliate marketing to creating and selling your own products.
The first case of JV partnering is when you enter into a formal agreement to work with a partner or partners to together create and deploy a product or service.
The second type of JV partnering is when you sign up and approve others to promote your products and services that are created and ready to sell.
IIn the first case, there are certain steps to take to generate interest and convince the other party or parties that what you are proposing makes sense from a busines perspective.
With second case, you must present what you have to sell in such a manner that others in the niche will want to send your product sales information to their leads in return for getting paid a commission on all sales.
Today we will disuss both and provide some tips and ideas on how best to get both of the JV partnering initiatives done effectively. Even if you are not at this point right now, my advice is to take notes or bookmark this page for later…
Real Life Examples Of Why JV Partnering Makes Sense (or How NOT To Sell)
First I would like you to Imagine your dentist sending out an email or an sms to all his patients, with a limited-time offer for a reduced price for a new set of teeth.
Or the Multileverl Marketing (MLM) distributor who walks into a bar and announces that, she has a cure for wrinkled skin. All you need is her overpriced skin cream.
Then she adds in that getting rid of the wrinkles on my face will help me do better in my job by making a better impression with the boss and other employees.
Indirectly she is implying that I have too many wrinkles and they are hurting my job? This lady has never met me and was certainly not a part of my group of frinds!
This is not all that uncommon – attend most “Business Networking Events” and you will find a bunch of self-employed salespeople thrusting their business cards at each other.
Such people as those above are pushing their products or services in all kinds of places, and for many of such places they have no business selling anything at all…
Plus they are making in appropriate statements while doing so…All of these examples remind me of the old vacuum cleaner salesman that went door to door imposing themselves unsolicited on others peddling their wares that no one needs or wants.
The ‘Joint Venture’ Approach to Sales
The horror stories above really happen today as they have for many years, but it does not need to be the case with the approach that you use for sales.
Joint Venture marketing has an entirely different feel and approach compared to what you just read. I like to think abouty this approach as my doctor approaches his patients…;
My doctor will quietly and calmly ask me a series of questions and then he will listen to my answers. He will make notes as we go along. After that he will have a look for himself and see what the examination results are
He would never tell me how intelligent he is or how many people he saved last month. He spends no time telling me how great his clinic is nor does he sell me some sugery I do not need.
Instead, my doctor really listens, finds out where it is hurting, and likely he will read my medical file and test results. Following all of this, he may prescribe one solution or another based on my specific problem.
After that whole process, there is no big selling pitch for pills or procedures. He lays it out for me straight and I know that solution is based on his expertise in his field. I do not question it, rather I am quite happy to take action on his advice.
This is the approach with Joint Venturing and by the way with online marketing in general. If you are speaking to the wrong audience, or using words that are inappropriate, or have not answered the problem the prospect is having, you are missing the point and will not make a sale…
The Definition Of Joint Ventures
A joint venture is simply an agreement between two or more parties to work together towards some common end. It can be used for almost any situation…
Most of the time it is entered into through a process of negotiation and a subsequent formal agreement between the parties on the terms and conditions of the effort they will undertake together.
Using a Joint Venture approach for your marketing and sales when appropriate will help you gather experts that can together build better bridges, create more effectvce solutions, and solve problems faster.
This is a business model that has proven to work across all niches both online and offline, and participants normally know that they will get paid quite well if they do a good job.
Normally members of JVs know that they will get paid in direct proportion to the value that they create for their deliverables (products or services). .
They know that whatever they create to sell must have value to the intended audience. They will not waste the time of that audience, instead honing in on relieving the pain or frustration the targeted prospects have.
They have taken the time to find out what those pain points are and come up with a solution and then presented it in such a manner that the prospect cannot help but say yes – the solution presented is compelling them to say yes!
So if there is one key point or theme regarding Joint Ventures, it is this: To maximize the power of Joint Ventures, the focus must be on the customer and determining what they need and then creating that for them. Everything else revolves around this…
Zig Ziglar has said, “You can get anything you want out of life, IF you’re prepared to help enough other people to get what they want.”
WHY USE JV PARTNERS
Just as when you learn how to conduct business both offline and online, there are certains steps, tool, tricks, and tips that will help leverage your work effort to do more with the same amount of energy and time.
So it is with JV agreements. They help the outcome be much more than what you could possibly or likely could be. It just makes too much sense in a number of ways, but this is basically it in a nutshell.
Here are some of the possible outcomes you create when you enter into a JV relationship:
Advantages:
- Faster Deployment of Products – It is said that two heads are better than one, and in the case of JV Partnering this is very true. Your skill set plays off one another to more quickly get to a product launch.
- Access to Other People’s Skill Sets – If you can find a partner that has a skill set that is complementary to yours, you likely will have more success than not because when you combine the two iy means more power.
- Sharing Of Resources Between JV Members – This is another strong advantage that JVPartnering brings to bear – You can use the assets that each has for the team effort which means you can leverage the relationship to do more in the same time.
- Ability to Leverage Underutilized Resources – Same point as above, it means more efficient use of your time doing other things that are also important.
- Potential for Higher Profits – This is so true because you are playing off one another when it comes to the project and between you the best product, roll-out, sales plan, etc. can be created, increasing your profits when all goes well.
- Potential for Increased Back End Income – This involves creation of higher-end products that are offered after the front end, and of course these are the most lucrative. With JV Partnering these often are more creative, work better, and of course sell more.
- Lower or No Risk Opportunities – Working together you can better see any potential pitfalls and avoid or at least mitigate them. This is yet one more reason to select a good partner to work with.
- Massive Leverage – The JV partnering effort can affect everything in your project from top to bottom and entering into such an arrangement will really allow you to have success quicker and easier.
However, there are also some potential pitfalls that you must be aware of when you enter into JV partnerships as follows:
- The Possibility You Get Ripped Off – I have had this happen to me, even with a written agreement. Enter into JV Partnerships with your eyes wide open, and use a lawyer to check the paperwork you sign.
- Let Down By Unscrupulous or Unprofessional JV Partners – This has also happened to me and it cost me literally millions of dollars in sales. This is when that written agreement comes into play, but nonetheless it does not help the immediate situation…Choose your partner carefully.
- Damaging Your Reputation – Be very careful that the partner you enter into a JV Partnership with does not harm your reputation through his or her actions. Of course once something happens it is too late, so be aware and cautious from the start.
- Damaging The Reputation(s) Of Your Customers and Associates If You Partner With The Wrong People – This is even more damaging because not only has your bad JV Partnering relationship harmed you, it has hurt others. Pick that partner after due diligence!
It is wise therefore, to do some research and read all you can on what the JV process is all about and gain a thorough knowledge base prior to entering into such agreements.
This is such a place, and once you have completed the tutorial, you will have a good starting point from which to do more research!
THE JV PARTNER CREATION PROCESS
Of course to enter into a JV partner relationship you must find someone to enter into the arrangement with. This in itself can be a tricky endeavor.
You can use the social media platforms, niche forums, querying other authority figures in the niche for recommendations, or any other reputable source to find potential candidiates…
To sell anyone on a JV partnership, you have to have something to sell, it has to be presented in a compelling manner, and you have to be ready to analyze the potential partner to see if they would be a good fit…
There are traits that you want to look for in potential partners. I say this after having been involved in a number of JV relationships over the years, and of course some have worked out better than others.
Remember the advantages and disadvantages I mentioned above? These success or failure you experience are tied to the partners y0u choose to work with.
So what makes a good JV partner?
The 3 “Cs” Of A Potential Partner
Again based on my own experiences, I can say I have boiled it down to three characteristics to look for when considering a Joint Venture Partner.
Any partner must have all three otherwise you will more than likely be disappointed, fail, or worse, ruin your own reputation in your niche market.
If they have these traits or characteristics, chances are you will be able to have a lucrative, long-term, and satisfying Joint Venture partnership that can withstand any challenges.
Trait # 1 – Congruency
This means that the person is living and working as they present themselves. They are actually living and acting in line with their professed values and beliefs. They hold to their word, are honest in their actions, and they are reliable.
If you work with someoone that is congruent, you will always know with whom you’re dealing with. There is no place in Joint Venture relationships for any dishonesty, hypocritical behavior, or mind games.
You need to feel comfortable that what you see in that person is what you will get. You need candor, not butt kissers; partners that seek to excel, not to do the minimum. You need shakers, not players or excuse makers.
People that are congruent in all aspects of their life will mean that they have a cause and will push to make sure that they practice the same in the JV partnership, a good thing.
You need real and genuine people around you whom you can trust. Congruency in your partner helps you have confidence that this is the case…
Trait # 2 – Consistency
This is a very important trait. I have worked with partners that could jump over tall buildings one day and not even climb small hills the next.
You need someone that is solid in this regard. One that will be the same, yesterday, today, tomorrow, next week, or mext year. If you do not have this you will never know what you are facing from one day to the next, and your chances of failure are quite high.
That partner needs to be there when needed. They need to answer the mail, the emails, the calls, who get the jobs done always, and on time. They must do what they say they will do.
You want someone that is a long term partner, not the one that is in it for the quick buck, or the person that is desperate. Have a look at potential partner’s work history in the business, check their reputation with other credible niche member…Are there any clues as to whether or not this person is a loser?
Remember: You’re ideal cadidate is a person that has that solid, stable, humble, and grounded persnality with an impeccable work ethic.
Trait # 3 – Creativity
The last thing that I look for is creativity in a potential partner. The best way to have success with Joint Ventures is to have the solid base mentioned in the two traits above…
But if you really want to trun on the afterburners and have massive success, you need someone that also has as one of their traits the innate skill of creativity.
Part of this is action takers. If you have a partner that is all brain and no action, you will have a lot of papers or notes, and no products to sell. That of course is not desirable.
If your partner is too analytical it could be that your JV partnership will suffer from “Paralysis of Analysis” and at the end of the day the bottom line is not going to be pretty. Things will not be perfect all the time.
That is life. They need to be able to deal with any situation and make things happen for the JV partnership anyway…
In that light, with the unknowns and change that is always taking place around us, Joint Venture partners must be able to remain open-minded.
They need to be open to the ideas of others and if you have that it provides an environment that will enhance the creative potential that are so essential for JV’s to work.
Approaching A Potential JV Partner
You have done your research, gathered a list of potential Joint Venture partners that meet your criteria. What is next? Well obviously you have to reach out to them.
Let me caution you on this step…
You are proposing to these candidates that they work with you. The same process you just used to determine that they would be good to work with will apply to you when they consider whether or not to work with you!
They may not know you from Adam. Unless they do know you or know of you, or maybe you helped them with something in the past, many of these qualified partners may not be comfortable working with you.
Remember that at the end of the day they are taking a risk, and this includes even potential affiliates that will send emails and offers to their lead lists.
All have worked very hard to build their lists and estabish trust and credibility. They will not want to jeapardize the relationships unless they are sure that you are not a risk.
So make sure that the same attributes that you looked for with potential partners apply to you. This is a selling point for your pitch when you approach the potential partners. Do your homework.
How To Raise Your Chances Of Success Recruiting a JV Partner
Add value to a potential Joint Venture partner before you pitch them
There are some tips and tricks you can use to raise the chances of success in recruiting a JV Partner that you are going after. Let’s discuss a few that I have used in the past…
Tip # 1 – Provide Added Value To The Potential JV Partner.
Just as you are less likely to buy something from a stranger, so it goes with proposing a JV Partnership to someone. My advice is that you should spend some time building a relationship prior to asking for a JV Partnership.
Here are a few things you can do:
- Comment on their blog.
- Subscribe to their email newsletter.
- Attend one of their webinars.
- Share their Tweets.
- Buy their product.
- Leave a positive review for their book or podcast.
- Refer a client to them.
- Attend their live event.
Everything above does one thing: It supports the potential partner’s work, and when they see that you have done this, they will be much more inclined to support you when you ask for it.
When you do the things above, you are building a relationship, if on a professional level. This then can lead to a more personal relationship and build an easier path to securing that JV Partner agreement.
One last point: Be positive and supportive always when you help out….VERY IMPORTANT…
When you are ready to ask for a JV Partnership, check that your proposed project is not going to be stepping on the business the potential partner already is doing. You want to offer something that complements their efforts but does not compete.
Bottom Line:
(1) By carefully selecting your JV partners you save time and frustration, money and tears, and you achieve amazing results. This is the down and dirty of the whole process I have decribed…
(2) There is no shame in saying “No” and you have to be ready to walk away at any point prior to actually havig a JV Partnership in place. If you see that one or more of the three Keys is missing, save trouble later by cutting off the negotiation.
(3) Hang with the people that are like-minded with you. The basic traits you are looking for and also possess will mean that you work only with success-oriented partners. The old adage “Birds of the feather flock together” is the way to approach this.
(4) A good team accomplishes magnificent things. Doing your homework ahead of time as I have described will save tons of trouble later and also following the advice given you will have increased levels of success.
(5) Do the prepatory work by adding value to potential JV Patners. They will see that you are a go-getter, have something that will push them forward in their online business efforts, and are someone that is good to work with.
OK, now you have an idea of who to look for, regarding traits and behaviors…Next as I briefly mentioned, you have to come up with a process with steps for entering into your Joint Venture.
This is the area we will cover next…
MASTERING JV PARTNERING
There are a series of steps to go through when entering into a JV partnership. I will not go into too much detail here, but do want to outline each for you…
More in-depth training will be provided if you need it in the additional materials I have available for you to buy below.
The steps are slightly different when you are recruiting for potential JV partners to sell your created products or services as opposed to those you will use for entering into a creation JV partnership….
Product or Service Creation JV Partnerships
Here is a checklist of my suggested process to consider when entering into JV partnerships:
- Determine Potential JV Partners
- Select Top Three to Five Potential Partners
- Present Proposal To Each Via Email
- Meet Top Two Prospects Selected
- If Amenable and Three “C”s Covered, Discuss Scope of Work and Terms and Conditions to Include Profit Split
- Put the Verbal Agreement in Writing, Have Your Lawyer Review the Agreement, Get It Notarized
- Include Expecations For All Parties and Repercussions For Noncompliance, and Measuring Mechanism for Compliance
- Include Profit Split, When Split Will Happen, and Exit Strategy for All Parties
- Effective Date and Possibly Non-Compete Clause
If you prepare a checklist similar to what I have above and then follow it religously you should have most of the important areas of preparing for your Joint Venture Partnership covered.
This list is not all encompassing, massage it as you need and like. Based on my own experiences this is a good place to begin for you. Each situation will have different circumstances and have peculiar or unique requirements…
You may want to go through a mind-mapping exercise to make sure that all the elements of your list have been included. I actually recommend this for everyone I work with…
If you need to know how to go about this, I have some training on the site that will show you the process (don’y worry, this is not a hard thing to use at all)
===> MIND MAPPING <===
Sales JV Partnerships (Affiliates)
This side of the JV equation is much easier to deal with but nonetheless must be thought through when you prepare the page to support your roll out or launch as some say…
It pretty much comes down to preparing a good page that contains all the information on what the offer is, to include:
- Description of the tool, product or service and why it will add value to clients of potential affiliates.
- Email swipes for prelaunch launch last days of launch etc.
- Diagram of your funnel layout.
- Supporting sales video for convincing affiliates of the value of your product or service.
- Supporting video of the product or service for affiliate marketers to use to sell.
- Details of any contest that you will have as part of your roll out.
- Legal pages that are always required to comply with Government regulations.
- Sales Banners or Similar
It is very important that you put together a professional package that is presented in a professional manner to potential affiliate marketers…
You likely have seen good and bad JV partner (affiliate) support pages, and the ones that are the best right away make you want to sell their products for them on your sites, using PPC, etc.
Others that are missing this or that, or whose guidance is not clear on the page they have for you makes it a lot harder to promote and sell their product.
If the above required elements, i.e. layout, design, copywriting, etc seems quite complicated to get together, I have a solution for you…
Please read on below…
What if you could get this at a VERY reasonable price today, and could further sell it on and recover the money you have spent (meaning you have paid $0 for this valuable tool…
This is something that makes too much sense NOT to act on to buy now…
TOOL OFFERED: Turbo JV Page Builder
To help you with building your JV pages that will help you sign up affiliates to sell your product or service, I have a handy tool that will help you easily and quickly get together a page that can be modified to get your complete offer publsihed for potential affiliates..
Here is a screen shot of what you get:
Here’s what’s included in this package:
(1) A Ready To Go Page Builder That Requires Little Work to Edit and Publish.
and…
(2) A ready to go customer support set up, all mail requests for support will be sent to the mail address you designate, works seamlessly.
and…
(3) All legal pages you must have to comply with Government regulations to include income disclaimer, privacy policy, and terms and conditions.
and…
(4) Beautiful pages to show the capabilities and how to edit your JV pages in an easy and quick manner.
and…
(5) A support video showing you how to use the tool to quickly create your pages.
and…last but not least:
(6) This tool creates pages that are fully responsive when viewed on any device!
(7) The last thing you get with this tool is resell rights. Yes that is right, you can sell one copy to a friend or fellow marketer and recover the money you spent today to secure this tool that you will use over and over again!
The Pitch…
OK now you asking what is this going to cost me…I am keeping the price very reasonable so that you will take action and buy it, then use it, and sell it on to your friends that could use such a tool.
The cost to you today for this tool is $19.95. With your purchase, you have the right to sell it on. Sell it to one other person, and it cost you nothing!
Remember you are saving hours and hours of work over creating and assembling your own JV Page, plus lots of money over paying a professional designer and copywriter to prepare the page…
This solves a problem, and i have no intention of getting rich off this one tool, I am moe interested in helping you any way I can to get your JV offers published and active so you start making money liek so many others are already doing!
TURBO JV PAGE BUILDER ONE-TIME COST: $19.95
Secure your copy right now by clicking below on the green button!
{link coming soon}
OK there you have it…Now you need to use the tool and start working towards establishing JV partnerships and rolling out your own products, then having a good offer that affiliates will want to act on and leverage your efforts to grow your business!
Have fun!
CONCLUSION
Today we covered Joint Ventures for online marketing in some detail, and offered additional training for purchase that will provide much more in-depth information on the subject.
The tutorial was intended as a starting point, this is a crucial area of your online marketing business as you grow. It is a good idea to plan the direction you are heading even if you are not where you want to be.
This way your efforts will all support your business, and all of the tasks, content, marketing, etc. will be congruent with your end game. Joint Ventures should be a part of that long term plan.
Using the power of Joint Ventures, you can create more products and services, then get them on the market and use the power of affiliate marketers and entering into joint ventures with them to sell more quantities of your products.
Most importantly, I urge you to take action TODAY to get started on your path to success. Do one thing (or more) each day that will move your forward towards your goal. Learn about Joint Ventures can be your thing for today!
FINAL POINT
JV Partnering is an area of online marketing that is rich with tales both good and bad. Please consider adding your own experiences below in the comment section regarding yours…When we discuss and share we learn, and that is what this site is all about. Your input is appreciated and I want to thank you in advance!
Cheers!
ABOUT DAVE:
Dave has been involved in sales for 20 years with offline products and has been fortunate to have traveled the world while realizing up to $4 million USD a month in gross sales of products he promoted.
He has brought that experience to the online world and this is one of his online ventures. This site is intended to present ideas, products, tools, tips and more that will help all those seeking to make money online have success.
Subjects covered are diverse, but in totem, you can learn a lot about the things that you will need to have success with online business right here. This includes things to do and things NOT to do!
Enjoy!