LESSON #88: Joint Ventures

In the previous lesson we talked about Piggyback Marketing, which can involve various ways of partnering with other marketers. Today we’re going to talk more specifically about Joint Venture partnerships…

(Watch this video – it may take a couple minutes to load after clicking it…)

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Outline:

  • A joint venture is simply a business arrangement in which two or more parties work together. A joint venture may be a formal business partnership, wherein you have a business entity to which both of your names are legally attached, or it may be something much less formal.

    - In our Internet marketing vernacular, “JV” often means simply promoting each other’s products via email. But that would be a very shallow understanding of joint ventures.

    - There are infinite possibilities of types of joint ventures, both online and offline.

  • Some types of joint ventures that are particularly beneficial for Internet marketers:

    - Product Creation
    - Expert/Authority in a Niche
    - Content Creation
    - Programming
    - Marketing
    (See video for examples of each)

  • How to structure a joint venture:

    - 50/50 is often best.
    - It doesn’t have to be 50/50, and it doesn’t have to be “fair” in terms of responsibilities.
    - For example, a “sweat equity” partner may do most of the work.

  • Do you need a contract?

    Technically no, you don’t need one. I work with people I trust, and our word is our bond.

    I recommend always having at least an informal written agreement via email!

    Lawyers would probably recommend always having a contract, and there are situations where you should definitely have a contract. (See video for details)

  • How to find JV Partners:

    - See lesson #86 for Affiliate recruitment, and data-mining skills
    - Existing relationships (friends)
    - Friends of friends (personal referrals)
    - Customers
    - Affiliates and other business associates
    - Social Media
    - Networking at Seminars and Conferences

  • Be careful who you partner with.

    Don’t be tempted into putting short term financial gain before your good name and good standing in the marketplace.

    Action steps:

    1) Decide what area of your business would be ideal for a JV.

    Think about your areas of weakness that someone else could help you with, and think about your greatest areas of strength that you can bring to the table.

    2) Find a trustworthy JV partner through networking and relationships.

    In the next lesson we’ll begin to uncover how I put together effective product launches.

    As always, you are welcome to post your questions and comments below :-)

    Have a great day!

  • 19 comments on “LESSON #88: Joint Ventures

    1. Stephen Malan

      Eric, Great job as always! The outline is put together so anyone can use it with ease.

      Thanks again!

      Reply
    2. Eric Post author

      Thanks, I’m glad to hear it!

      Reply
    3. Aleksandr

      Eric this is good stuff and timely.Thanks for the info and by the sound advice.

      Reply
    4. Kevin Pirnie

      Eric,
      Thank you for always putting so much thought and care into the advice you share in your “tips” videos. I always appreciate the perspective you offer. Integrity is such an important foundation to any business, online or offline.

      I am begining the product creation stage and hope to find quality JV partners as you described.

      Kindest Regards,
      Kevin

      P.s.
      Hope your health is improving and family is doing well.

      Reply
    5. phil

      thanks, you the best guru i have met online

      Reply
    6. BILLY JACK

      Hi Eric

      Thanks for the timely advice. I along with many others on here owe you a great deb,t for the time and energy you have put in to all of this.
      Stay blessed and thank you my brother.

      billy

      Reply
    7. Jim

      Hello Eric Holmlund

      I signed up for your online business IMT information and videos, downloaded, and still had doubts. That is until I watched your “1st lesson” and learned more about you.

      I much enjoy the fact that you are helping those less fortunate in Belize and in India, and that you have a website for Prayer requests, that you have a nice size family and are enjoying life.

      I am disabled – Progressive M.S. that is not curable, I have remained independent although speech is terrible and live in a wheelchair full time. That is a blessing actually for it aided me in turning my life over to God and each day has been a blessing. It also got be involved in Uganda, helping those less fortunate. When my own funds ran out, I started a 501C-3 organization that is 100% volunteer and all funds received to to helping the kids in Uganda – with deaf school for those that are deaf and abandoned, medical, tuition, food ^ clothing etc. the site is http://www.compassion-care.org – I also donate my experience with computer and internet to our local Food Bank, Aid & Assistance, Guardian Angel program – known as The Cove – http://www.thecovecares.com

      I have also raised eight children, a foster son and now adopted 2 orphans children in Uganda along with my wife Teddy. She actually does all the work because we live half a world apart – being that we have been unable to get visas to the USA for them -after 8 years of trying.

      I do not mean to bore you with my life, just wanted you to know that I have much respect for you and all that you are doing. And, hopefully one day I can begin making enough large income to continue with the projects for unfortunate folk not only in Uganda, but in other countries I have visited and also here at home.

      Thank you for taking time to read this long email, and again, keep up your good works.

      Jim Haverlock

      Reply
    8. Pastor James W. Booker, COGIC

      Hi Eric.

      Thanks for the information.

      I do believe we need to learn to trust God for our entrepreneurship, because God is the greatest entrepreneur, just ask the man with the one talent. God don’t play when it come to business.

      Pastor James W. Booker
      https://lrn.cc/Jd

      Reply
    9. Joseph Miller

      Eric:

      I love your stuff. I am a Kingdom believer and very much appreciate your integrity and how you are open to sharing your faith in your business. I also love hearing how your business opens the door for you and your family to serve others through missions and other outreach. If you are ever willing and able, I would love to share about 10 minutes of your time. If you prefer to know what I wish to talk about, I am happy to email you the specifics of what I’d like to discuss. That way you can determine if you are able to share a few minutes.

      Please email me to let me know. Thanks

      Rich Blessings to you and your fam

      Joseph

      Reply
    10. Gordon Potter

      Eric

      Nice to hear from you. I appreciate your commitment to our Lord. I
      feel overloaded many times. I have so many opportunities coming to
      me. I am trying to work tw0 of them. I live in Bennett, CO and used
      to live up in Loveland. I wonder if we could get together and share
      some things. I have an idea to sell many unique products online.

      there is much more with this idea, but wish to keep it close. I also
      wonder if you are willing to give me a hand up with some ideas on how
      to start earning $100.00/day. I am working with PIPS and Turn Key
      Commissions. My website has just been set-up with Turn Key, and I now
      need to set up my Aweber connections.

      Love to hear from you. thank you for your complete cooperation.
      P.S. Oh, are there other costs involved with this new app/light?

      Sincerely,
      Gordon
      970-412-0481c

      Reply
    11. Micah

      Hello Gordon,

      Eric’s coaching partners, Jeff Wellman and Paul Counts, actually have a free product that may be what you are looking for:
      http://www.fastmoneymethods.com/

      The flashlight app was just used as an example. There would certainly be development costs in creating your apps.

      Reply
    12. Dale

      What an absolute treasure trove. Eric .. I have paid for courses that don’t come within cooey of the info you have made available to us .. I also find it so refreshing to find someone who is totally sincere and honest in his approach (getting a bit harder to find this online nowadays). Very much looking forward to working through the remaining lessons .. Thanks heaps .. Best regards, Dale

      Reply
    13. Shahzad

      Hi Eric
      Actually i m newbies in www or online business n even dont know how to build website even not from basic.
      My friend recomend ur link last few months i was searching good guidline or path towards make it proper my business line but in vain. After watching ur lectures from start, it was awesome. I have no words for praise just “SALUTE” u bro.
      U describe such a basic even i understand easily n going well with ur lectures.
      Now u r my teacher in online business till my death.
      Note my email address even save it i ll disturb on u different basic question.
      i dont know where should i mail to u on this address or other, for long term chit chat plz give me personal email or its up to you how u deal with me.
      Eric, i just fed up with jobs n i wanna make it my new business i m 38 years old n need more listen from u.
      you r fantastic guy n very good human beings. this is my first email so excited lots of word to say even dont have words.

      cheerssssssssssss

      Reply
    14. Roman

      Hi Eric when ive seen the video of the “limited time” offer i started to watch it then had to stop since im doin community theater and lil bit modelling and “etra” work in movies and tv shows , and recently bought the real guys products and strted to watch and implement in my friends businesses that im doing them online job.

      can i get the link again please for your offer? Please it is very important for me and i had aperformance at the theater that i had to do on thursday and was “off-zoned” since its lots of energies.

      please send me the link again for your offer that takes me to the video please. ipromise to act on it straight away, its almost a “Mizva”!!!

      Shalom and “Zane Gizun” -Roman-

      Reply
    15. Micah

      Hello Roman,

      What product were you interested in?

      Please contact us our helpdesk and let us know:
      http://www.ericsupport.com/

      We might be able to provide you with an alternate link!

      Reply
    16. Anna

      Thank you Eric for great information as usual. I am just about to partner with another marketer for my first mutual benefit JV. I am very excited about it. Will let you know what happened.

      Reply
    17. Pj Germain

      I’ve been around the block a few times. But, have to say, Eric, YOU ROCK. Fantastic tips and info. I whitelist your emails so I can check up on your lasted posts. Very informative. Keep it up, bro!

      Reply

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