They say that two hea
ds are better than one. If you are ploughing a lone furrow in your internet business you are missing a trick. Some projects you might very well wish to pursue on your own, but by sharing projects with other marketers, a whole new world of opportunity opens up to you.
If you have a top notch product or service but a relatively small customer base (especially in your early days of business) by offering to Joint Venture (JV) with another marketer who has a large list suitable for your niche, you can negotiate to share the profits produced by offering your product to his/her list. Even though you will be sharing the profit you will benefit enormously by the number of sales made which, assuming that your product is of an appropriate quality, will give you a greater income. This venture will also add to your customer list in the process increasing your chance of future sales. It’s what is often described as a “WIN-WIN” situation.
When discussing a Joint Venture do not nit-pick over how much of the work you have done in comparison with your JV partner. The usual arrangement is a simple a 50-50 split. Your partner would not be impressed if you rolled up with the request that you get 57.6% of the profit because he/she has done only 42.4% of the work. Your JV is likely to become your ex-JV and you will have lost a valuable partner for future projects.
It may be that another marketer approaches you with a great product but without the customer base or the knowledge and skill to market it. The boot is then on the other foot as this new offer is made to your customers. So long as you are happy that the product is of a suitable standard to satisfy your customers, you can’t lose. You have earned your slice of the profit in the work you have done over the previous months or years to build your customer database. One word of warning, do make sure the product is worthy of your support or you might find some of your customers unsubscribing from your list. It would be a shame to ruin your reputation as a genuine, trustworthy marketer after the time and effort you have spent in cultivating a good relationship with your customers.
Be always alert to JV possibilities. The more involved in internet marketing you become the more contacts you will make, so the more opportunities are likely to come your way. To repeat the sentiment expressed at the beginning of this article, “Two heads are better than one”.