What are they and why do you need one?
Wikipedia describes it as “when two parties come together to take on one project.” Joint venture partnerships are simply where you join together with another person to gain a bigger presence in the marketplace.
So many ways to do this!
Creating a product together or bundling products you each already have in the marketplace together are two good ways. Books, events, and interviews come to mind immediately.
Watch your income grow!
JVing can increase your income quickly. It’s that power of two. Or three. There’s really no restriction on how many JV partners you can have for a project.
Besides the increase in your pocketbook, your network, credibility, and market also expand. Plus, an added benefit is you’re not permanently connected to your partner. That deal stands alone while you are still creating your own personal projects!
Can you say win/win?
Always be looking for those joint venture opportunities. Here are a few I have personally benefited from:
- Money From Anywhere – An Amazon best-seller by Pat O’Bryan that I contributed a chapter to.
- Making It Online Now – a live event I co-hosted with affiliate marketer Marian LaSalle.
- Take A Quantum Leap – An interview series by online marketer Yvonne Jones.
These are just a few examples for you to think about. I’ve also had joint training webinars, audios, and teleseminars. If you can create it and add value to the marketplace, it’s a good day.
Simple guideline . . .
Be sure and do your homework. Evaluate their products or services and be sure it’s a good fit for your niche and your audience. Most importantly, be sure you both bring something to the table. A quick way to turn off a potential JV partner is to approach them with a “what’s in it for me only” attitude. They are going to be helping you. Make sure you will be returning the favor.
Creating joint venture partnerships is great for your business. Start looking. Could there a JV in your future?