subject: The Faint Hearted Must Steer Clear From Joint Ventures [print this page] Weve seen and read it over and over againWeve seen and read it over and over again. Partnerships gone awry leading to break-up of businesses. Example: in Batman and Robin, Robin threatened to go solo because Batman was getting all the credit. It may just be a movie but if you apply that in the business world, you know that the slightest tension between partners can indeed mean the end of a joint venture.
Over the years, the popularity of internet marketing as a business has increased drastically. Thanks to the internet, people are connected and can easily advertise and sell their goods and provide services through advertising, banner ads, search engine marketing, blog marketing, article marketing, email marketing and interactive advertising.
Some internet marketers have tried their luck on joint ventures. In the long run, those who did figured that the other procedures (ezine advertising, pay-per-click campaigns, article writing, linking strategies, search engine optimization, affiliate marketing) helped their endeavors in little ways but not as much as joint ventures.
First off, what is a joint venture in the world of internet marketing? A joint venture is when you offer a product to people who are basically biased towards what you are providing. Consequentially, when youre normally advertising (using the methods mentioned in the earlier paragraph), your possible clients extensively critique your product.
Put yourself in the shoes of your customer. How would you feel if you are reading a product on an ezine advertisement? What are the chances that you yourself would purchase that? How will you even notice this particular advertisement, considering that there are already so many banners out there.
The point of the joint venture is that there are two of you promoting a similar product. It is like youre serving as testimonials for one another. The power of word-of-mouth is that if it is a good review, it can easily convince people to check it out. Take for example, a movie. If you hear its good, you want to catch it before they stop playing it at your local theaters, right?
But there is always a catch. If you are a faint-hearted individual, it is best that you read on.
Just like anything in business, there is always a pro and a con, whichever way you look at it.
Before you make a joint venture, you have to be sure that you planned it thoroughly. Your main goal is to profit from it. It may take you months or years, but you have to profit from it that is why you started it in the first place.
The biggest mistake anyone can do is to contact possible joint venture partners with a promise of a 50-50 profit. For them to sign on, one party would volunteer supplying the solo mailing procedure to advertise the product that could cost him. It would seem pro bono and his financing this would only mean a liability on his end.
This is to the delight of the partner, whose sole task is to mail the letters which could pretty much get substantial sales. As long as there are people buying, sales can reach the intended in a couple of weeks. There is no saying the direction your business will be heading. Sometimes it will flow smoothly. Often times, in a span of lets say eight months, the figures will drop.
So with a joint venture, how confident are you with your partner? Treat it as a marriage. How sure are you that your joint venture partner will stick with you through thick and thin? Treat it as a pre-nuptial agreement. How much percentage would you and he get, depending on the sales?
Prepare yourself for so many possibilities that are likely to happen. By promoting your product, you could get the sales you expect. Make sure that you and your partner are doing the equal work. If you are faint-hearted and too soft, chances are your partner can easily take advantage of you and treat you like a doormat.
Here are some techniques on how you can make joint ventures easier for you:
- You can promote your products through ezine articles that you and your partner can send out in a mailing system. Then you can add it on your homepage via article archives.
- You can write reports on what youre offering your customers and subscribers which can also be obtained from your homepage.
- Banners are helpful
One things for sure though with joint ventures at least theres two of you doing the nitty gritty.
