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Joint Venture's For Newbie's 1
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Many, many internet marketers have made fortunes from joint
ventures (I'll call them JV's from now on).
And they continue to do so today.
You name any top internet marketer in the UK or abroad and they use JV's
to increase the sales of their products and to earn commission from other people's
products.
But the great news is you don't have to be an internet giant to profit from JV's. In fact JV's are a fantastic way for the newbie to get a foothold in a new market and I'll explain why later. During this article I will discuss you joint venturing your product with a list owner. If you don't have a product don't worry I will show you how you can profit from JV's even without a list or a product in a future article. What Is A Joint Venture?Joint Venture is probably a concept you have heard many times before in business. Large corporations often use joint venture's to break in to new markets. The two businesses usually have different strengths and they JV to capatilise on each other's strengths. Joint venturing online follows the same concept except for one important fact. They are quick and easy to put together in the online community. And you don't have to be Rockefeller to benefit from it, anyone can put a joint venture together. In reality a joint venture is very similar to an affiliate arrangement. The only difference is JV's are often closed door affairs and affiliate schemes are widely publicised. With an online JV usually one party will supply a product and the JV partner will offer this product to his list of customers. Profits are often split 50/50 after costs. So if a product sells for £97 and the cost of the product and payment processing is £7, each party will receive £45 per sales. If your £97 product is sold for £97 to your joint venture partners list and you receive two hundred sales you will both be happy. Each partner receives £9,000 for sending out one email. These figures may seem high but I have actually down played them. Some JV's bring hundreds of thousands for each partner, but these are usually higher end products promoted by big list owners. It is unusual for a newbie to get a JV that will net them over £100,000 from one partner. However with a bit of tenacity you can snare multiple JV partners for one product and bank over £100,000 in pure profits. What Are The Benefits Of A Joint Venture?For a JV to work both parties have to benefit. If your JV partner does not benefit they are unlikely to work with you again and you have just blown any future lucrative sales. The benefits for your JV partner are fairly obvious they get:
Now don't under estimate the power of giving your JV partner something special, something nobody else has access to. This is a great way to motivate your JV partners but we will come back to this later. The benefits to you, especially if you're a newbie are enormous. Imagine earning the £9,000 we talked about above just from one joint venture! How many days work do you currently have to do to earn £9,000? How many hours in the car driving to and from work? How many dull meetings do you have to attend? Or how many times do you have to grit your teeth and hold your temper because of annoying customers or colleagues? It's a depressing thought I know. But with the internet you can make thousands in days, hours or even sometimes minutes. And joint ventures are one of the fastest ways to do it. Obviously the money pinging in to your account every few minutes is a glorious feeling. But that is just the short term benefit, you get something much more valuable than the initial rush of money. You get a list for free! In fact it's better than that, they are paying you to come on your list. No SEO, Google PPC, article marketing or social marketing needed, you have an instant list. A number of newbie internet marketers built their lists with JV's. Just so you fully grasp what I'm saying they started without a list, produced a product, found JV partners and then the JV partners sold the products. All of a sudden the internet newbie becomes a player in the market. The newbie has created an overnight list, piggy backing on someone else's success. And the best thing about the list you're JV partner builds for you? They are buyers. Not tyre kickers as we call them, 100% bona fide buyers who are willing to pay for quality products. A list of 200 buyers is worth a list of 2,000 normal opt in subscribers. In fact your list of 200 will make you more money than the list of 2,000. You can use this list to promote your own future products and keep all the money or use your list to promote other people's products. The list will keep on paying you for month's or even years. So far you have gained cash, £9,000 in this example and a very valuable asset (the list) that will pay you again and again. But that's not all. You also have a JV partner that you can go back to again who will welcome you with open arms... after all you just made him £9,000! If you can come up with another product you know you are guaranteed sales, some from your own list and some from your JV partner. The money is on the table just waiting for you to take it. You have also got some instant expert status. Because of your JV's partners list you have now been seen by thousands of people and your JV partner has endorsed you. Instant awareness and credibility. Do you think any of the people who don't buy will check you out? Yep and some of them will register with you even though they did not buy, especially if you offer a free report. Even more subscribers you can market to again. The final advantage of the JV is that it never cost you a penny. No advertising costs at all. Not many other business models can boast zero costs. You have achieved all this risk free. So to summarise the advantages of the JV for you the product owner are:
I hope you can start to see the possibility's JV's can open up for you. And don't make the mistake of thinking this only works in the biz op market, you can follow this principle in any market. In part two I will show you how to find your JV partners, how to approach them and how to make sure they promote your product. Until next time, be happy, Joe
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