Joint Venture Formula Revealed
Edition #44
Are you interested in discovering the formula for a $100,000 product launch?
Well it just so happens that I did $100k of sales in one week during my recent launch of the Motivated Marketing System… AND it just so happens that I’m going to tell you how I made it happen!
To put it plainly, it happened as a result of strategic JV’s.
Now, if you’re already an experienced internet marketer, you’re probably thinking you already know all about JV’s. On the other hand, if you’re new to this business, you may be asking yourself… what IS a JV?
Regardless of which pair of shoes you’re in, please keep reading because I’ve got news for you!
First for those of you who are new to this…
What is a JV?
JV stands for joint venture, and it’s a broadly used term in the internet marketing world to describe pretty much any form of helping each other out. There are several different types of JV’s. We’re going to look at a few forms of JV’s that were a part of my product launch…
Co-promotion
Seven years ago I worked for a newspaper, and they were constantly doing co-promos to sell more newspapers. For example, they made a deal with a coffee shop to include a newspaper with the purchase of a large coffee.
They sold the newspapers to the coffee shop at a deeply discounted price. While the profits were minimal, it still counted as paid circulation, which is very important in the newspaper business. They also did some promotional advertising within the newspaper itself, which created extra publicity for the coffee shop.
The coffee shop was happy because of the publicity, and because their customers received an extra benefit and incentive to buy coffee. The newspaper was happy because of the added sales volume.
It was a win/win situation.
In my recent product launch, co-promotion was involved. You might have noticed some “unadvertised bonuses” on the download page. Some of those were contributed by my JV partners. I agreed to add the promotion for their site, and they agreed to promote my launch.
Care to guess how much it cost me to land those JV’s? Zero. That’s right, it didn’t involve any money out of my pocket and that’s part of the beauty of JV’s.
Endorsements and Affiliates
When most internet marketers hear the term “JV”, they instantly think of email/newsletter endorsements. That’s probably because 99% of the JV proposals they receive are asking for just that: an email promo to their lists. Some would say that’s not really a JV, and I would agree to a point.
What makes it less like a “JV” is the fact that there is typically not any work done “together”, and the marketer is getting commission for the sales generated by their list, so it’s really just a form of affiliate marketing.
Regardless of what you want to call it, it’s a profitable and very effective form of marketing. Again this was a huge part of my successful launch, and again do you know how much it cost me to land these JV’s?
Nothing up front. Of course my affiliates made good commissions, but it required ZERO investment out of my pocket because they are paid for their performance after a sale is made (after I’ve already collected the money).
Joint Business Ventures
This is what I would consider to be the purest form of a JV. It’s exactly what it sounds like; a joint venture.
When considering whether you want to form a strategic partnership, a good place to start is by examining your own weaknesses. In what areas of business do you lack?
Perhaps you’re not a good copywriter, so it would make sense to partner with someone with excellent copywriting skills. Or maybe you’ve got the marketing skills, but you don’t have your own product to promote.
These are exactly the kind of things I looked at when I formed a partnership with Glen for the Motivated Marketing System. I had the idea for the product, but I don’t know much PHP code, and I don’t have time to do tech support. So it made sense to partner with a programmer who was also able to provide customer support.
Likewise, Glen is a great programmer, but lacks in the area of marketing, which is my expertise. In this case, we actually share ownership of the business. Sharing a business is kind of a big commitment, but it’s also a great way to make more money than you would be able to make on your own.
Once again, how much did it cost me to strike up this deal with Glen? Zero. There was no investment required, because we share the profits only after the sales are made.
Zero Investment Required
Hopefully by now you can see that this is something that can be done WITHOUT having a lot of capital to start with.
In most businesses, it takes money to make money. In fact, that’s the way it is for most of my other online ventures. For example pay-per-click marketing. I make a ton of commissions by promoting products as an affiliate via PPC marketing, but that wouldn’t be possible without investing money into those PPC ads.
However, JV’s allow you to generate money through work without an initial investment. The only money we spent on the Motivated marketing System was for the domain and a script to run the site. The rest was pure sweat equity. And don’t get me wrong–there was a lot of work involved; over a month of hard work.
So if you’re looking for a way to make a LOT of money, and you DON’T have a lot to invest, but you ARE willing to work hard… JV’s may be your answer!
This brings us to our final BIG QUESTION:
How do you get JV’s?
JV’s are an art form of sorts, and if you don’t do it right, you’ll experience a lot of frustration and failure before you find success. Unfortunately, this newsletter is already getting too long (any longer and I’d turn it into an ebook and charge you for it). However, I’ve got a lot more free info for you at this site:
For example, there are some things you should NEVER do when trying to get a JV. If you do them, you’ll spoil your chances of doing business with people, and you could end up looking like a fool. Do you know what those things are?
I’ve got a complete report for you to download today which reveals the biggest mistakes made by joint venture seekers.
You can download that report right now for FREE…
Click Here to Download it Now
Yes there really is a “JV Code” and if you stay tuned to Eric’s Tips, I’m going to reveal how you can learn to crack that code for your own business.
That’s all for today.
As always I find what you write informative and easy to read. On this occation you
have surpassed yourself. I am a newbie ,I have a lot to learn and I appreciate good
information wherever I can get it from. Especially when is free because ,I am not
earning yet and I find it very hard to find money to spend on information.
Thank you very much for all your help.
Kind regards,
charalambos
Eric,
I totally agree with your take on actual joint venture partnerships vs. ezine endorsements.
Something I’ve been writing about quite heavily is to focus on long-term, continual profits with JV relationships as opposed to a “one-shot-wonder”.
Cross-selling, trading upsells, co-authoring products, etc.
There’s a TON of ways to easily earn a lifelong income for Joint Ventures - in any niche.
Not just a quick couple of sales from a list promo.
It’s great to see that someone else is “preaching” this too
Sincerely,
Chris Rempel
JV-Web.com