Joint Ventures

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Joint Ventures

Defination from Wikipedia

When two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are “co-venturers“.

A joint venture takes place when two parties come together to take on one project. In a joint venture, both parties are equally invested in the project in terms of money, time, and effort to build on the original concept. While joint ventures are generally small projects, major corporations also use this method in order to diversify. A joint venture can ensure the success of smaller projects for those that are just starting in the business world or for established corporations. Since the cost of starting new projects is generally high, a joint venture allows both parties to share the burden of the project, as well as the resulting profits.

A joint venture is not to be taken lightly. For a businessperson to embark on a joint venture, he or she needs to be committed and willing to work cooperatively with the other party involved. A person involved in a joint venture can no longer make all of the decisions for the business alone. For it to be truly a “joint venture,” there has to be 100% commitment from both sides.

When determining whether or not to embark on a joint venture, it is important to ensure both parties are a match with the projected client base. In a joint venture, each party must complement the other in business. Sometimes, a misunderstanding or a lack of communication can destroy a joint venture. Therefore, it is necessary for both parties to be capable of communicating what they are able to offer to the project and what their expectations are.

Both parties must be committed to focusing on the future of the partnership, rather than just the immediate returns. Ultimately, short term and long term successes are both important. In order to achieve this success, honesty, integrity, and communication within the joint venture are necessary.

Whilst the above is the general offline version of Joint Ventures what I am going to talk about here is the online version where one of the main objects is list building.

In an online Joint Venture 2 marketers get together and email each others marketing material to their own lists.  Both marketers should have lists of a similar size or if one has a list double the size of the other then the marketer with the smaller list can agree to mail out twice to their list to help balance out the discrepency in list sizes.

I have been advised that if your list is less than 500 the chances of getting someone with a bigger list to Joint Venture with you is small, but there is no harm in asking. The reasoning behind this is that with every mailing you send out you will get some unsubscribes and with a very small list the percentage can be high in relation to the list size.

If you are new to the internet then don’t be surprised if the bigger marketers do not even acknowledge your request.  They get dozens if not hundreds of requests on a weekly basis so unless your request stands out from the crowd it will not even be looked at.

In my last post on Safelists I listed a set of guidelines for your mailing and I would suggest applying the same guidelines to your Joint Ventures.  Check what your partner is intending to send out and if you are not happy with it DO NOT send it to your list and decline the Joint Venture.  You should also sign up to your partner’s list so that you can check they actually send your offer out.

Ensure you only Joint Venture with reputable marketers as it is YOUR reputation on the line if things go wrong.  Agree a specified date and time for you both to send out the emails and stick to it.

Another type of Joint Venture is the JV Giveaway where a number of marketers get together and offer free products to all those who visit the giveaway whilst it is running.  For more information on JV Giveaways visit my post Here and for currently running ones visit my JV Giveaways page Here.  Some of these are open for you to get gifts and others are looking for contributors before opening the doors for the general public.

Your comments are always welcome and I look forward to reading them.  All non spam comments will be published and replied to.  If you have anything else you would like me to post about then let me know in your comment.

Richard