Joint Ventures – or JVs for short – are a hot topic lately. But for people earning their living online JVs are nothing new. All of the most successful Internet Marketers already know that they are the fastest, easiest way to grow ANY business in ANY industry.
To help you get started using JVs in your business, here’s the truth behind the 5 biggest Joint Venture myths…
Myth #1: Joint Ventures are only for the “big guys”.
The truth is JVs are even more important for small businesses than they are for large ones. Sound crazy?
Well consider this…
What are the characteristics of a small business? No mailing list, lack of recognition, limited contacts in the industry, few products or services to offer. These are exactly the things that businesses Joint Venture for!
The key is to look at what you do have to offer and find someone who is willing to give you something you need in exchange for it. What you offer may be your time (for example to write a report or organize a contest), a percentage of your sales, your expertise – or any other resource you have that others need.
Myth #2: The only people you should approach with a Joint Venture proposal are those who have huge lists and high traffic web sites.
If you can get those people interested in working with you then great! But more often than not this isn’t possible for small businesses.
So how do you use Joint Ventures to grow your business?
Simple – approach other small businesses. Chances are they too are looking for ways to grow so they’ll be eager to work with you. Even if you only get a few visitors or subscribers, remember, you wouldn’t have gotten them at all on your own!
Myth #3: You should never approach your competition with a Joint Venture deal.
“Coopertion” is a term that became popular a few years ago. It is a hybrid of “competition” and “cooperation” and is a great word to describe how you should look at Joint Ventures.
Unless you are selling the EXACT same product (for example through resell rights) then go ahead and approach them with a proposal that will benefit both of you.
An example of how you can do this is to co-author a report on your industry. Include information on both of your products and then jointly offer it to your customers. You’ll be surprised how many people purchase both products.
Myth #4: You must have your own product to do Joint Ventures.
If you are online to make money then you are obviously offering SOMETHING. That may be a product you sell for someone else, a newsletter, information or something else of value to your target market. No matter what it is, you still need the same thing as people who have their own product – leads!
This is where JVs come in. What you need to do is look for people who are already making offers to your target market and approach them about working together. Offer them something they wouldn’t have on their own and they’ll gladly partner with you.
Myth #5: Having someone recommend your product or service is the only type of Joint Venture worth doing.
When someone recommends your product to their list or web site visitors it is known as an “Endorsement” Joint Venture. Basically, it’s an affiliate program only you typically give the person a higher commission.
Although this type of Joint Venture is very successful, it is only ONE of many types of Joint Ventures. And depending on what you’re offering it may not even be the most effective.
Be creative when thinking of possible Joint Ventures. Consider running a contest, creating your own ad co-op, doing ad swaps, co-authoring an ebook or even co-creating a whole new product or service. You’re only limited by your imagination!
There you have it, the truth behind the 5 biggest Joint Venture myths. Now that you have some ideas for using JVs in your business, get out there and make some money!
Learn 96 other ways to get more traffic in the Free Special
Report “101 Tips To Explode Your Web Site Traffic”. Get it now
from http://www.mysmallbizcoach.com/trafficarticle.html
