Hiding In Plain Sight...The Beauty Of Joint Ventures

I'm not ashamed to tell you this, but I spent months in Internet marketing before I ever heard the term "joint venture". Not only had I not heard of joint ventures, but I had spent plenty of time and money trying to find out the "secrets" for things like generating traffic and customer list-building. Little did I know that the gurus on whose products I was spending a great deal of my resources, had a little inside joke. The strategies they were selling me information about weren't really what they were using to become obscenely wealthy. They were using different, much more powerful strategies, one of which is the joint venture.

What is a joint venture? (Okay, for those of you who are more experienced, this is a moment when you can take a short "potty" break, check your text messages or get up and stretch. I said "stretch" not "scratch". I'll be finished here in just a second.) A joint venture is a business enterprise where two entities/individuals agree to a temporary partnership from which both will benefit. Simple concept, phenomenal potential. Simple example:

I have a dynamite product that is priced at $14.97, but no customer list to market it to, so I am unable to generate any revenue from my product. A potential partner has developed a list of 5,000 customers. However, he has no product to sell, and thus cannot generate any revenue from his list. Neither of us is making any money. Through providence (or the result of an active campaign seeking a partner, hint, hint), we find each other, enter into a joint venture, and my product is marketed to his list.

The result: Through our combined efforts we make 250 sales generating $3,742.50. We split the profit and both walk away with $1,871.25. Not too shabby! Now do you see what a huge benefit a joint venture can be?

This is one of the common ways mega marketers make money and lots of it. They leverage each other's lists, skills, resources and assets to exponentially increase their profit potential.

Now that we know what it is, how do we go about setting up a successful joint venture?

That's for another day, another post. Toodles.