Archive | JV

A_Joint_Venture_Success_Story

By Randy R on August 18, 2010 in JV

A Joint Venture Success Story

The big selling point of a joint venture is the fact that all the parties involved will prosper. The question you have to ask yourself is by how much. As most joint ventures are short term contracts, you have to consider the profits in the short term as well as the relationships for the long term. As the more connections you have, the geater chance you have of gaining more joint venture opportunities or hep in your own ventures, you will certainly want to be able to maintain the relationships you form even if the first joint venture is not a success.

As with an business, the key to success is knowing your field. If you know the problems before they occur, you can troubleshoot them easily. If you know the challenges that come along with it, you can be prepared. Knowing the competition allows you to have an edge or even and insight in your field; after all, if you know what they are giving their clients to keep them as clients, you know what to offer yours. Speaking with as many people in your field as possible will let you know just exactly what you are getting yourself into. Not only that, but you will be developing business relationships that will give you some leverage in your field as well.

Once you are approached with a joint venture opportunity or looking to approach a peer in your field with one, you must do some research on the indiviual(s). These will be people that you are trusting to represent your name so you need them to be good representatives. Alternatively, these are people that you are expecting to pay you after sales are being made so you need them to be honest, trustworthy, and reputable. Also understanding what their goals and aspirations for the product are will help you know how to market it better. Knowing what they want and what makes them tick will also allow you to make a joint venture proposal that they simply cannot refuse. You may be able to gain a partner who never thought about forming a joint venture before!

Research also allows you to have a valuable negotion tool. You cannot be lowballed if you know the average market value, and you could make a sweet enough deal for a marketer if you know what they are currently working for.

Once you have done your research and made a joint venture proposal to a team of well qualified individuals, you will be well on your way to success. As with quality products, a quality joint venture will always produce profits. Once you have had once successful joint venture, others will know and seek you out for another. This is where you gain business for life; through successful joint ventures.

Avoid_Mistakes_of_Joint_Ventures

By Randy R on August 13, 2010 in JV

Avoid Mistakes of Joint Ventures

As you already know, joint ventures are a lucrative agreement for all parties involved. After all, they have the sole purpose of creating profits so they have to succeed. You may want to find a partner right away and start on your marketing campaign so you can both start making a lot of money. But what you need to know before enterting a joint venture agreement are some mistakes to avoid.

All too often, as an affiliate marketer, you may find someone seeking a joint venture partner to market their product. They are even willing to pay above the competition. This may make you want to jump on the opportunity before someone else. After all, if you can make the same sales you are already making but at a higher cut, why not? The problem is, if you are not willing to research a little on the product, you may find that you are stuck endorsing and promoting a product that is not worth anyone’s time let alone yours. While you can surely drop the campaign once you do find this out, you risk tarnishing your reputation and rapport with your clients or users.

Alternatively, if you are looking for an affiliate marketer to enter into a joint venture project or a peer within your niche, you should make sure that you are not only offering them a nice cut in the deal but also a quality product. Ask yourself if you would be comfortable marketing the same product to your users and if your product is really worth endorsing. If you are cross-promoting with a fellow peer in your niche, you would want them to give you a high quality product. You do not want your name to be mud in your niche. Repeat customers and a loyal fan base are key to generating a guaranteed income. If you tarnish that relationship, you will find it hard to build it back up. As relationships with your customers are key, it is also important that your joint venture partner be a reputable one.

Joint ventures are often short time. Many times, they are used for you to get your foot in the door or to promote a new product. Once you have developed a client base, you no longer need help in promotion that joint ventures offer. Additionally, some relationships just do not seem to work out. Whether it be due to lack of luster or charisma or desire to be in the joint venture agreement any longer, you and your partner should forsee a potential break in the relationship and have an opt-out option for such a case. You want to be able to end the joint venture project amicably.

Joint ventures are the key to e-commerce success and promotions. If you have already weighed the pros and cons and come to the conclusion that a joint venture is the right venue for you, then all you have to do is assure that you approach them properly. A successful joint venture comes down to the overall structure of the team.

Create_a_Joint_Venture_for_Your_Benefit

By Randy R on August 8, 2010 in JV

Create a Joint Venture for Your Benefit

If you are in online marketing, you are undoubtedly looking to make some commissions on product sales or promote your own service/product for full profits. So is every other millionth webmaster. What is to set you apart? One among many can often be daunting. It can cause many to stop before they even start. Joint ventures not only give you a support system to get through the rocky start, but also the foot in the door that you need to succeed.

A joint venture is much like a partnership where both parties play to the other’s strengths in order to reach an agreed upon goal. Whether it be to get your product to the masses, generate traffic, provide a service, or just merely promote a hype, the more experienced help you have on your side, the better. Some things to consider when starting a joint venture are the benefits that your partner or partners will bring to the table, the feasibility, and the credibility that another partner brings.

Many do not fully consider the joint venture option because they would rather much make money on their own. After all, if they do it themselves, they gain the sole profits, right? But what they forget is that quantity is key. Sure, you want a marketable and quality product, but if you are not selling in mass quantities, you are not making enough profit to make it worthwhile to continue. This is where joint ventures play a big role. If you get a small group of skilled marketers together and pay a higher commission than the affiliate markets, you can dominate in your niche in no time. Domination would equal more sales which would equal more money in your pocket in the long run. And to make the deal even sweeter, you do less work. How does that sound for genuis ideas?

You may be asking yourself why anyone would want to enter into a joint venture unless they are the ones that have a product or service to market. After all, why would I want to do someone else’s grunt work? Yet if you take a look at the commissions that affiliate sites like Revenue Universe or Commission Junction and compare them to the commissions that a potential partner would offer you, you will undoubtedly find that you will make more through a joint venture project. Think about it: company A pays affiliate site B a certain amount of money. Affiliate site B pays you a percentage of that. If you cut out affiliate site B, you are making more than just a percentage; you are making the full dollar!

Online marketing is a lucrative career of which many can make a living doing. Joint ventures allow you to set up a profit making campaign that will give you residual income for months and even years to come. The key to a successful joint venture project, of course is finding the right players.

Free_Marketing_With_Joint_Ventures

By Randy R on August 3, 2010 in JV

Free Marketing With Joint Ventures

Nothing in life is free, right? Wrong. Of course there are always sacrifices or debts that need to be paid to get what you want for free, but you can get free things. Now you must be wondering how something can be free if you have to pay for it, but what you are not thinking about is what you really do not have.

If you go and make a sale a day and gain $100 per sale, you are making $100 a day. You pay no expenses so at the end of the day, your profits are $100. If this is guaranteed, and you know you cannot make more, then that is fine. But what if you enter into a joint venture agreement with two other marketers who can only make a sale a day as well. You agree to pay them 40% on each sale so they will be making $40 a day. You still make your regular one sale a day at $100, but now you have expenses to pay: your joint venture partners. The two have made one sale apiece and as per your agreement are owed $40 apiece, making your expenses for the day $80. So now you are wondering where the free part comes in, right? Well sure, you could pay them the $80 from the sale you made that day, but why not keep what already was profit as profit? Pay them from the sales that they made instead. Now that you have done that, you still have the $100 you made and would have made anyways without your joint venture partners, but you now have an additional $60 per sale that they made: $120. This is money that you would not have had without the joint venture agreement. Essentially, this is free money.

What about how the sales are made? In order for your joint venture affiliates to make a sale, they have to first market the product to potential clients, right? And what does this do for you? Generates not only free marketing, but free traffic! You do not even have to pay extra for this as this is something that is just inherent in a joint venture agreement such as this! The best part of that is that if the sale does not convert right away, you have the potential of gaining a sale on your own off the efforts of your joint venture partners.

Obviously the business model is not as simple as represented here, but it could be for some. Joint ventures not only bring in free marketing, free money, and free leads, they give you more free time! Who else would not love to not have to come straight home from work and get online to generate leads for their product? It would be great to have someone doing the work for you. The added benefit that joint venture partner has over a regular employee is that you only have to pay a productive partner whereas an employee you would have to pay no matter how productive he is or is not! It is a winning understanding for all involved. Your partners get paid for their efforts, you get paid for doing nothing, and your product gets into the hands of clients that really needed it.

Is_A_Joint_Venture_Right_For_Me

By Randy R on July 24, 2010 in JV

Joint venture is the most powerful emerging marketing tool of the modern times. What exactly am I doing in a joint venture? It indeed is quite simple; you just need some elementary knowledge of business strategies. Joint venture forms a partnership in a way that benefits all the parties involved, a kind of referral relationship. You don’t have to be a “big fish” to make your mark in the business world, even for your small business joint venture can be proven out to be a lot beneficial.

Another common query that comes to your mind is What Kinds of Joint Ventures Can I Do? Joint ventures take many shape and forms but the most important thing to remember is that it’s always a “win-win” situation for all the business partners involved. There are many common joint venture ideas that have proven to be quite successful for “new fishes” trying to establish themselves in the market.

The most common venture is to trade the mailing lists and your customer databases with another company that targets the same demographic as yours. But before entering this venture, make sure you have chosen the right partner and your details are not going to the wrong people. Secondly, you can trade the advertising space in newsletters and other publications. Placing literature in each other’s stores or links on each other’s websites gives an added exposure to your business.

And lastly, creating a formal relationship is the key for a successful and last-longing business relationships.

It is important to remember that while some joint ventures involve formal written agreements and an exchange of funds others are as simple as a co-operative marketing agreement settled with a handshake.

Another question that baffles the minds of most of the business entrepreneurs is With Whom Do I Form a Joint Venture? In reality, any business can form a joint venture with someone. The most important element to consider when choosing a partner for a joint venture is whether your two companies have the same target audience. Notice that only target audience needs to be same not the entire product and services you offer.

You can have a successful partnership with a key customer, a non-profit or businesses whose services or products complement yours .All of them act as potentially valuable resources, you can cash on later for your business.

Simply think logically about what other products or services your customers would interested in buying .You should make sure both of your companies have quality products and services to sell though otherwise you both will end up losing on the deal by losing the trust of existing customers giving your business an extreme loss.

Is it starting to sound easier? Don’t get me wrong; joint ventures are time consuming and often-high maintenance. However, it’s not astrophysics, and it can be a no-cost way of generating far more business than you ever could have on your own—and of building a lasting friendship with your joint venture partner, which will give your business a great edge above your competitors.

Joint_Venture_Accounting

By Randy R on July 19, 2010 in JV

Joint Venture Accounting

A joint venture is an association similar to a partnership, the only difference being the time scope of the project that is joint venture is entered into for a limited and specific object. Because joint ventures are considered relatively short in relationship value, a ‘real’ partnership would be a unnecessary hassle. As a joint venture is still a short-term partnership nonetheless with both costs and profits, it is still important to be able to keep accurate bookkeeping. A couple of accounting methods can be implemented in a joint venture scenario.

The more obvious method would be to have a set of books that are separate from the actual corporation and only used in joint venture documentation. The books are taken as usual and so no real risks are seen. In a more short term joint venture project, separate books are not really needed nor provided.

Participants of a joint venture team are much like salesmen for a company; they go out on the company’s behalf and spend money on goods, clients, or needs to make your company a success. They file an expense report with you so you have documentation of both their efforts and expenses. A joint venture partner must be able to do the same; provide documentation of their purchases for the joint venture.This is achieved much like individual accounting. The partner logs his expenses in a separate book addressing the joint venture. Once all have reported their expenses, they are jointly marked on a statement known as a memorandum statement. The profits and losses are then decided off this statement and divided accordingly.

The profits and losses will vary depending on the relationship of the team. If one partner is solely the marketer, he will report more profits than the one with the product to market. The profits of his books will be equivalent to the losses of the other’s books. This is how the books are reconciled easily.

A joint venture is still a business agreement and should be approached as such. This includes the accounting side of business. Keeping an accurate record not only helps you see what is owed or gained, but whether or not the efforts of the joint venture are a success or not. As the books are also kept on the group as a whole, it is easier to determine that it is because of the group that X-amount of profit is being made or X-amount of loss is being taken. At this point, you can then decide whether or not to continue with a joint venture as opposed to a partnership which you are in for the long haul.

Joint_Venture_Bum

By Randy R on July 14, 2010 in JV

Joint Venture Bum

A great untapped method to online success is a joint venture. Too many people create a product, service, or script that they want to market and become consumed by greed. They do not want to share their potential profits so they attempt to list, market, and generate sales for their idea. They may get sales and make some profit, but what they miss is the greater earning potential that a joint venture brings.

A classic post among webmaster or moneymaking forums is how one can generate an income with little to no work. Everyone wants the bum method to internet riches. What they do not consider is that setting up a joint venture could be their ‘free’ ride. With the initial setup labor and costs, one could sit back and relax while their partner(s) do all the work generating sales. A joint venture cuts out the middleman of affiliate marketing and allows you to pay the marketer directly. What this does is give the marketer a higher incentive than he would normally get with a regular affiliate account so not only do you prosper, but so does your partner. If your partner knows that he can make more money with each sale, he has motivation to sell more. More sales means more money in your pocket. Mathematically, if you do five sales by yourself at $100 per sale, you make $500. Now, if you enter a joint venture with someone whom you agree to pay say 40% of the sales to, you will earn $60 per sale. The difference however is that now you do not have to do a single thing. You just sit while your partner does the work. Additionally, if you can enter in a joint venture with a good number of marketers, you could be making more than a lousey five sales. Just having a team of five marketers selling your product alone will make you more profit than a solo job. If they make at least two sales, you have already made more doing nothing than you would had making five sales on your own. Such is the life of a joint venture bum.

Finding partners to team up in a joint venture is not hard if you know where to look. There are plenty of highly populated webmaster forums where you can offer even your services in exchange for theirs. Make their job even easier and they will surely be more productive for you. If you gather all the tools they will need to market your product such that all they have to do is generate leads, they will be more motivated to join your venture and produce sales. This is where having a good web designer on the joint venture would prove helpful. If you come up with the idea, he can create the sales page, and your marketer can make the sales. You make profit for still doing nothing, the web designer gets more work, and the marketer is getting a higher cut at leass work had he attempted his affiliate program solo too. Joint ventures do more than benefit the creators; everyone prospers if they are constructed properly.

Teamwork always allows for an easier job with quicker results. If you want to make more money with less effort, a joint venture can help you on your way. Choose the right team players, and you could be well on your way to becoming a joint venture bum.

Joint_Venture_Credibility

By Randy R on July 9, 2010 in JV

Joint Venture Credibility

You have the next big idea since Google. You are motivated and have the means to create and promote this idea but lack one thing: credibility. In the day where skepticism is the number one personality trait of e-visitors, it can be hard if not daunting to ‘sell’ your big idea. Everyone always wants proof without having to pay for it; better still, they want a review from someone they trust. Without credibility, you may as well be trying to sell a burger to a vegetarian.

Just as you would not trust your coworker with giving you legal advice or your dentist with selling you computer supplies, not everyone will be receptive to an internet freshman trying to sell them marketing materials and the like. Get a backing or testimonial from Shoemoney and you are sure to boost your credibility a hundred fold. Being as how that is not very likely, and not always pertinent to the field you are in, you should be looking for a joint venture partner who already has the connections and credibility to market your idea.

Products or ideas are not always sold based on their merit; often people are not readily willing to spend their money on something they have no guarantee of working. Sometimes it is the proper sales pitch, landing page, or testimonial that gives them the extra push they need. Joint ventures should be entered with this idea in mind; gathering a group of rookies will take just as long as if you had decided against a joint venture.

Building a rapport with your clients is something that develops over time. If you do not have the time to wait, getting someone who already has a developed rapport to join you in a joint venture would be the next best option. Not only is the legwork completed for you, but they possibly have the leads already lined up that you need as well. Everyone gets what they want then; you get the customer base, and your partner gets something worth offering to them while cashing in on a nice little commission.

Creating a joint venture is a prosperous activity. It is used by affiliate marketers accross the net to develop leads and credibility. Just as with any business or shop, you will want to build up some credibility in your community to allow for more sales, repeat business, and greater chance of word of mouth advertising. Supply in the e-commerce world is usually always higher than the demand so you need a good reason to motivate buyers to your product in particular. YOu know your product is better than the competition; do not let something as simple as little to no credibility slow you down. Enter a joint venture with a well known marketer in your field and be on your way to prosperity.

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