Joint Venture 101 - The Quickest Way To Build Your eBusiness (Part 1)
Published on 24-07-2005
By Valeriu S. Popescu
About the Author Valeriu S. Popescu is the owner of the Internet MarketingProfits Center, a specialized e-company that helps real Netpreneurs starting a new business online.
This article reveals the same techniques that many Internet marketing experts uses every day to make millions of dollars in profits - no kidding! In my own opinion it is the most profitable and powerful concept ever used on the Internet field. So, stay close and read it carefully.
Joint Venturing represents the easiest way to start a new business and make more money online and it is the only 100% risk-free marketing technique. You have nothing to loose.
A good joint venture can mean a fortune in a short amount of time. It can mean bringing your product/service to market without spending a cent of your own money. It can mean free media attention, etcetera. All these translate into more sales, more free time and more of everything good!
In a few words, Joint Venturing (JV) means that two or more business people/company partnering up to create a win-win situation for all the parties involved.
No doubts, Joint Venturing can be very tricky. But... if you follow these simple rules, you can be on your way to building your empire out of thin air.
As a Netpreneur, you are in one of these four positions if you want to do a Joint Venture:
1) Have your own product(s) : Joint Venturing with list owners.
In this case, be very carefully because most of the list owners want to do businesses only IF your product is new and has a proven value for their subscribers. The greatest advantage is these lists have educated people and were created for different categories.
There are thousands of list owners out there. You can use many of these lists to leverage their customer assets and split the profits with the owner.
Tip : never try to do a Joint Venturing with list owners that do not match with your product/service! It's just a waste of time...
2) Have your own customer list(s) : Joint Venturing with other product/service development owners.
Basically, this type of Joint Venturing has two big advantages:
- you can make more money than your Joint Venturing partner (of course, in the 'long run')
- you don't have to develop your own product/service
All you need is to find those products/services which best suit your customers needs. Let me advice you to use a software program, because doing this research manually can take a lot of your time.
3) No product or a customer list: becomes a "Deal Maker".
Yeap, this is true! Without any money on your pocket you can start to generate a steady cash flow. Your job here is to discover the right product for the right list of customers. This way you can charge a percent from both sides for years to come. Also if you were very professional with them, they will do business with you again and again!
4) Have the knowledge to make money online: become the "Providence Man".
This is perhaps one of the most neglected Joint Venturing methods. Possibly because it requires a lot of your time for research, but you could end-up charging as much as 50% of all direct sales, which by the way, it is a fair amount for your work.
Connect to the Internet and search for great products that have very poor advertising. Identify one product or service, look at their web site, sales letter, order forms, web design and many other things you can improve.
Identify everything is wrong, think how you can improve that, what costs you, how much the profit will skyrocket and than, get the Joint Venturing agreement with the product owner (and the 50% for your work!).
The key to successful Joint Venturing is to work SMART not HARD!
At this point, you probably wonder if it's as simple as I told you. Yes, it is that simple! Never forget that simple ideas can generate better solutions for your problems.
Joint Venturing creates tremendous benefits (profits!) for both parties, without any initial investments, because they rely upon two basic marketing rules:
---> Rule #1: People are eager to buy from someone who they trust and know!
Please read this carefully and more than once. Do it again and again until you'll understand that a Joint Venturing is not possible without this rule.
People are eager to buy from someone who they trust and know!
The most valuable assets you have in your business are the relationships you have built with your customers. Needless to say, all Internet marketing gurus pay their attention and much more to this relationship. They built their online empires because they understand the value of developing and maintaining their own list of satisfied customers.
---> Rule #2: The money is in the LIST! The money is in the backend sale. Don't you ever forget this!
This concept alone is worth 'pure gold'. No matter what kind of ebusiness you run, definetely an educated list of customers represents your best asset. Without a list you cannot survive in these days. Why?
Because it is much more easy to sell again and again to your customers rather than using a 'cold' list. Not to mention the expenses you needed if you want to acquire new customers.
The key to succeed is to constantly enlarge your list of prospects/ customers and to offer them the right product, at the right time, with the right price. Work the BACKEND sales and then repeat the process!
So, what's the next? I would say that you should read this article again, think of your ebusiness potential, and then jump on the Joint Venture 101 - The Quickest Way To Build Your eBusiness, Part 2:
You can find a 3-step blueprint to develop a solid joint venture, a new and free source of internet marketing products and/or services, and a pretty good example on how you can triple your profits from one single move!
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