Joint Ventures (JVs) are one of the best ways to increase how much money you make online. Simply put, a JV is where two or more people get together to derive the maximum benefit from what each person can bring to the table. For instance, someone that receives a lot of traffic may join someone that is selling something.
In the beginning you may want to jump in and start pitching your offer to everyone who may at least hear you pitch your idea. The excitement is understandable, but before you agree to anything just remember there are things to avoid.
These could be the difference between being turned down and creating a winning deal.
1. Not taking it seriously – First and foremost, this is business. Because it is a potential joint venture, it is not only your business but someone else's, too, and it will not only effect you but it will also effect the other person's pocketbook. Never be rude or amateurish. Keep in mind, however, that you need to demonstrate your offer has some sort of value, so don't undersell it.
2. Thinking you know everything – You should present your offer with confidence; it's not smart to be an egotistical jerk. Too much arrogance will just make them think you are compensating for a poor product. Besides, if you actually knew it all you wouldn't be asking for the deal, right? Just keep in mind, it is important that you know enough about your offer to present your JV.
3. Failing to know their name – It may take some time and effort to find the name of your potential partner, but you still need to do so , as it is . For one , there's a good chance they get a lot of JV offers with a generic greeting like, "Dear Site Owner" or, "Hey"; neither of which are acceptable. Is it acceptable to use an anonymous type of address for site owners when they make a point to hide their name? No. It's not worth the risk of linking your reputation to an unidentified person.
4. Not being clear - "Hey, I have this great e-book for you to sell on your list" isn't even worthy of a reply, however you'd be surprised how many of these messages get sent out all the time. Provide a short detailing of the book, provide a link to the preview copy, make your offer and suggest how they can benefit from it. Collect statistics that will be relevant to them and offer solid proof to inforce your facts if necessary.
5. Stretching the truth - Lying to get a deal is bad business and will catch up with you. True, most people wouldn't tell a flat-out lie, but you'd be dumbfounded if you realized just how many of them choose to stretch the numbers a little, or shade the truth to boost the possibility of doing a JV. Resist any such temptation. Stick to the facts so that your offer will stand on its own merits.
There you go; five of the top mistakes people make when trying to set up JVs.
Now that you know what not to do, you can focus on what to do. BreakThrough JV Tactics gives a lot of how-to info on doing JVs successfully. Go to http://www.breakthroughjvtactics.net/index.php to get it for free.
