The internet is not only a major source of information. It is also a major source of making money. And one way of making money is thru joint ventures.
Joint ventures are presented in many various forms. Some can be as simple as promoting newsletters. While others can be as complicated as a cross-promotion of complimentary products between partners. There are even some joint ventures that aim on starting new projects from scrape.
All these things make joint venture a great tool for growing your business in different aspects. But for new marketers, getting into joint ventures seems a daunting task. This is especially so when it comes to reaching out other internet marketers.
You can look for businesses to joint venture with whether online or offline. It would be best to find one that has the same target audience but is not really in direct competition with yours.
To find a joint venture online, you can participate in discussion groups, forums and other forms of communication that targets the market you are into.
You can also search in web directories and search engines to find the right businesses you can joint venture into.
Oftentimes, marketers look like they are “spamming” when in reality, they are just trying to find a joint venture partner. This is why some of them would rather not try than be caught doing these things.
It does not have to be that way. There are things you can do that will make your joint ventures as easy and as safe. They will also prove helpful as you go about your task.
Here are some of them.
1. Get acquainted with your potential joint venture partner.
To avoid being considered a spammer, do not try to email everyone on your list. You will not get the partners you want if you do it this way. Your reputation might be ruined too.
Try to subscribe to your potential partner’s ezines. Look into their websites or blogs. it is always best to get to know a little about them before presenting them your proposal.
2. Take time in approaching possible partners.
Be polite and flattering. Using some flattery can be effective most of the time. Inform them how you like their business and the things that you have seen in them that makes them different from other companies.
Leave constructive comments on their site. You will be amazed at the response you will be getting by using some flattery. This is an initial way of developing a good relationship with your potential joint venture partners.
3. Promise what you can deliver.
Your financial approximation should be realistic enough. Be honest about it to your future partners. Relate your proposal truthfully and based on your actual situation. Be sincere.
Get them to trust you enough to agree on what you are suggesting.
Starting a joint venture is not really that frightening once you have gotten into business with the business of your choice. Just think of all the benefits you will be getting.
Doing joint ventures with other business can enhance your chances of keeping up or beating your competition. It will also help in increasing your sales and increase your profits fast.
Other than that, joint ventures can:
1. Lessen your operating costs once you share then with other companies.
2. Get you more leads and referrals for businesses related to yours.
3. Divide the workload to be done. Valuable time is spent wisely this way. Plus, you get more quality time for other things.
4. Offer your customers varying products and services besides the one coming from you.