You’ll eventually want one.
A joint venture partner. Or JV, as they are known in the online world.
JV partnerships are simply where you join together with another business person to gain a bigger presence in the marketplace. This can be done several ways. Creating a product together or bundling products that you both already have together are two good ways.
Doing JVing can increase your income rapidly. I guess it’s the power of two. Or three. There’s no restriction on how many JV partners you can have for a project. Most of my own are done with no more than four people, although I have participated in a large group venture on a couple of occassions.
The benefits? Besides the fact that it increases your credibility in your market, it will increase the money that goes in your pocket. And the great thing? It’s not like you are permanently connected to your joint venture partners! You do a deal with them that enhances your business but you still continue doing your own thing within your biz.
Joint venture partnerships can be used as a list-building tool also. For example, on this site, I have interviews with other marketers. It’s a win/win for us both. Why? They are getting more exposure through the interview and I am getting my product promoted to their bigger list. It’s all good!
Be sure and do your homework. Look at their products or services and be sure it’s a good fit for your niche. Most importantly, be sure you both bring something to the table. A sure fire 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 JV partnerships is great for your business and for your network too. Start looking. There’s a JV out there for you too!
Peace,
-Martha
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