============================================================
Joint Venture 101 - The Quickest Way To Build Your eBusiness
============================================================
PART 2
- by Valeriu S. Popescu
(c) Internet Marketing Profits Center - All Rights Reserved
http://www.internetmarketingprofitscenter.com
Joint Venturing is becoming more and more used than it has
been in the past. The idea of combining your marketing
efforts with those of a strategic partner who target a
similar market to yours (but not a direct competitor!) is by
far one of the most powerful strategies today.
Here are the four major steps to follow with if you want
to set up strategic alliances that will blow away your
competition completely:
Step #1: Find your opportunities.
Step #2: Contact your future partner('s).
Step #3: Get the deal sign in your hand.
Step #4: Roll over your deal.
Step #1: Find your opportunities.
There are too many ways to discover JOINT VENTURE
opportunities in these days, and I don't have the power to
explain all of them here. But I want to help you to get
started immediately and I will share only three of them, the
most effective.
You may first go to one or more major search engines and do
an investigation using related keywords for your business.
The most important aspect of this step is to find the right
keywords.
If you have a product/ service think twice before choosing
your keywords. You must get a list of those sites that
ALREADY have the CUSTOMERS you want but are NON-
COMPETITIVE with your offer!
You can also do a research using "meta-tags". Save those web
sites who do you think might interest you on your computer
and analyze who are your prime candidates for making a deal.
After you decided about your possible partner('s) it is very
important to find out the right person you will want to get
in touch. Often that person is the owner of the site.
For a larger web site, you'll need more information such
as: administrative and billing contact persons, email
address, phone and fax #'s, domain server, etc. This way you
discover if the company who administrate the site it is a
legitimate one or not.
Another possibility to discover good partners is to deal
with e-zine owners. This way you can get a list of
subscribers from 1,000 to 100,000+ or even more! The e-
zine owners will offer you two things:
- quantity (a lots of subscribers)
- quality (educated subscribers)
Tip: you'll discover that a list of 10,000 subscribers can
make you more money rather than one of 100,000. You must go
where your offer gets the MAXIMUM effect. Don't try to sell
a marketing course to the experts! You get the aspect, find
your niche in the market.
If you have time and patience, it is a good way to find
partners with very good results in a long term. You must
start participating in discussion groups.
These groups, also known as forums, are places where people
meet together online to share their ideas and expertise.
These are the best places to catch special offers and
serious partners.
If you have a customer list or nothing else to offer and try
to do a joint venture between two different companies, you
can do the search exactly how I teach you above.
At least, there is a free way to find potential joint
venture partners. Take a look at my BackendProducts™
(http://www.backendproducts.com) service. Find inside the
latest news about internet marketing product and service
releases.
No matter what are you selling online, this is a MUST have.
Beside that fact that you'll be able to keep up-to-date with
the latest marketing strategies and tactics, BackendProducts
service will also allow YOU to write products and service
reviews under your own signature and joint venture/
affiliate signature.
Since it is available online (also have a free email
announce feature), you'll be able to find very good
products, services, and email list potential partners.
Step #2: Contact your future partner('s).
Once you find your a potential business partner('s), it is
time to let him know about your offer. This is perhaps the
most important aspect of a joint venture.It is the place
where most Netpreuneurs fail due to the misunderstood of
joint venture strategies.
Simply tell them you discover a way to leverage the assets
in their business for immediate profits using your offer.
For this you must prepare a letter for the decision-making
person in the company.
Writing this letter it is crucial to your venture. You must
build your credibility as a real person with a legitimate
business offer. Don't you ever try to trick your prospective
biz partner('s) because you will get an impressions of being
unprofessional in your work and will lose any chances to
make a deal!
Your letter must be very clear on what you are offering.
Avoid all the sales tricks you've learn across the time, be
honest and you can close the deal.
After you write the letter send the message by email
to the decision person you previously identify.
Tip: always fax your offer if you have lucky and discover
their fax number. This way you'll act like a professional.
Step #3: Get the deal sign in your hand.
Now, with your message sent, is like you open a door for
dialog and a possible endorsement. Allow them some time to
read and analyze your offer and then take a call. Introduce
yourself and start knowing each other. Share with them all
information that might interest for running your deal.
Be very carefully:
NEVER, NEVER, EVER tell them about HOW you can leverage
their business assets UNTIL you sign the papers!
To protect your idea from stealing you MUST sign a Non-
Disclosure Agreement with them and be flexible as your need
to be to close the deal. Never share your idea before you
have sign-up papers (and get them in your hands) by both or
all parties who participate in this joint venture.
Because time is running fast and most people are very busy,
you need to make the offer simple and easy to implement. You
must spell all the terms and conditions of your deal (don't
forget about protecting your idea!) in a way that will
generate only one single answer: YES or NO.
Many Internet marketing experts do joint ventures only with
that kind of people. You must do the same thing. In life and
more than ever on the Internet, time is money. Don't waist
your time and the other persons time with long and boring
emails about how great it is your idea.
In Joint Venturing, your main purpose is to make it very
easy for your partner('s) to get involve with you.
Now you have all the papers in your hand and both, you and
your partner, can start working together.
Step #4: Roll over your deal.
This is the easiest part and the rewarding one. Start
working with your new business partner to implement the deal
and watch how both your profits skyrocket.
I can't close this article without showing you how powerful
is Joint Venturing.
Let's say you have a great product, a software one. You sell
it for a price of $149. This software is a masterpiece for
spreading classified ads, so it is a good product with a
good market.
One day you decide to improve your income and rent/buy a
'cold' list. So, you prepare your sales letter, follow-up
messages and start the procedure. The average response for
the offer in online sales is an embarrassing 0.2%. For the
hack of this example I will consider a response of only 2%.
Note: here I must tell you something. IF you're certain that
your software is GREAT and have very good sales appeal,
consider to hire a top-noch sales writer. This will give you
a whooping 15-25% in response! Don't be greedy, perhaps the
'ghost' writer will charge you $(1,000-5,000) for the letter
(some will also ask 10% from backends). But read below
and make the math's. You're definitely in ADVANTAGE!
If you have 10,000 members in your list, with 2% response,
it means that 200 people buy your product and have a gross
income of $29,800.
Now, the same letter with a recommendation from the owner
can pull at least ten times more responses because the
customers have trust and know the 'cold' list owner!
In this case, 2,000 people buy your software. Since the
price for your product is fixed as a special offer at $97,
you have now a gross income of $298,000. Because you have a
partner - the owner of the list - you must split the profits
(normally it's 50%-50%). You get $149,000.
So, the immediate NET profits: $149,000-$5,000= $144,000!
From one single joint venture, you can make more that
$100,000 in excess! Can you believe this? Doesn't sound MUCH
better and MORE profitable?
Are you tired of spending money on resources and not seeing
much returns, or can't afford to or otherwise won't pay the
value price for them? It's time to switch over the only 100%
risk-free marketing strategy.
If you're ready to effortlessly create cash surges on
demand, you need to start Joint Venturing today!
-----
Valeriu S Popescu is the owner of the Internet Marketing
Profits Center, a specialized e-company that helps real
Netpreneurs starting a new business online. Find inside the
latest cutting-edge strategies about affiliate programs,
email marketing, search engine optimization, and more.
Visit today: http://www.internetmarketingprofitscenter.com/
------------------------------------------------------------
Attention Ezine Publishers/ Site Owners
Feel free to reprint this article is its entirety in your newsletter/ ezine or website
as long as you leave all links in place, do not alterate the content and
include our resource box as listed above. If you do use the material please
send us a note so we can take a look. Thanks!
