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Four Ways to Choose JV Partners

Apr 21st 2014 at 12:39 PM

JV partnerships or joint ventures can put you on the road to immense success in Internet marketing. Some of the best known marketers online have used and continue to take advantage of this avenue. You can too.

While there are many ways to form JV partnerships, we’re going to cover four ways to do so. As you’ll see there’s nothing super complicated here.

Summary of the four ways:

1. Compile a contact list for your market

2. Scan your email list for potential JV partners

3. Form JV partnerships with well-known marketers

4. Check Warrior Forum or JV Notify

As you can see there’s nothing overly complicated here. It’s just a matter of getting to know people in your market, doing a bit of research, and then making contact with the person of interest. But following is something to consider in advance.

BEFORE launching into the four ways:

Clearly Understand Your JV Agreement

Before covering the four ways you’ll want to keep this point in mind. When you make an agreement with anyone for a joint venture, be sure that you clearly understand the agreement you made together.

You’re forming a business partnership, so it’s best to put your agreement in writing or to exchange emails that outline your expectations. That way you both know what to expect of each other. Make sure you understand, and make sure your business partner understands the terms of your agreement.

Okay. Now let’s get on with the four ways to choose JV partners.

#1: Compile a Contact List for Your Market

“I’d like to do a joint venture, but where do I find a JV partner?” That’s a good question and here’s the answer. Find people within your market. For example, if you’re in the weight loss market, partner up with someone in that market. On the other hand, you could partner up with someone who has a skill that you lack. We’ll cover more on that later.

What if you don’t really know anyone in your market? Then you might consider going to functions, online and offline that are put on by people in your market. You might also join groups related to your market in social media. For instance, Facebook and LinkedIn have several niche related groups you can join.

Through those means you’ll get to know marketers in your niche. When you mingle with them get their contact information. Then store the data for later use.

In the meantime it’s good to keep your contact info as up-to-date as you can. You can do that by keeping in contact with people in your market. Many will welcome the interaction. Ideas for joint ventures can easily flow during such conversations.

The benefit of being in contact with those in your market and having a contact list is that you’ll have information at your fingertips, and firsthand knowledge of those with whom you want to form joint ventures. Give thought to people who might match what you’re looking for in a JV partner and make contact.

You may have to contact quite a few people before finding a match, but you’ll eventually find someone who likes your idea. When you do, you’ll have entered a joint venture.

#2: Scan Your Email List for Potential JV Partners

If you have your own email list, you’ll want to scan the names on that list from time to time. You may be surprised to find someone you recognize. If that’s the case, then it’s probably someone who’s doing well in your market. That person might be a good candidate for a joint venture.

Here’s another thing about people on your list. Since you’re in the same market, you probably share similar thoughts. People on your list have in effect said that ‘they want to keep up with what you’re saying.’ So those who match the profile of what you’re looking for in a JV partner may relish the idea to partner up with you.

The reality of the situation is that if you’re a successful marketer, you’re going to have multiple offers from many people who want to do joint ventures. The majority of those offers you’ll turn down. But don’t arbitrarily reject all the offers. Who knows? You may have a winner with one of the offers. So keep an open mind.

#3: Form JV Partnerships with Well-Known Marketers

They’re in every market. In a manner of speaking some of them are household names. Yes, we’re talking about well-known marketers in your market. Now some feel that there’s no way one of those guys or gals would ever want to do a joint venture with them. But that isn’t necessarily true.

If you have a great idea or a marketable skill, you may be just the person that a well-known marketer needs.

For example, you may know how to create WordPress plugins, or build Websites. And perhaps a well-known online marketer broadcasts the fact that he needs such a person to assist with a project. By making contact with him, you may be the person who lands the partnership.  The result could be a long-term relationship.

In order to land such joint ventures you’ll want to keep track of what those in your market are doing. Then you’ll be able to make contact when opportunities present themselves.

Here’s what you might do to keep up with well-known marketers:

· Get on their email lists

· Frequently go to their Websites

· Purchase their affiliate products

· Look for them on forums

One of the most profitable things you can do is form a joint venture. This is especially true when the person is well-known. It can establish you as an online marketer.

So never rule out JV partnerships with well-known marketers. Apply the guidelines cited here and seek joint ventures with well-known marketers.

#4: Check Warrior Forum or JV Notify

If you’ve been online for a while you probably recognize Warrior Forum and JV Notify. They’re very popular and can provide a platform for the formation of joint ventures. Let’s briefly explore the two.

Warrior Forum: There’s a section completely dedicated to joint ventures. Go there and hang out for a while. You’ll see joint ventures that are being proposed and formed. This will provide you with insight on how to form and offer a joint venture.

If you have a skill in something like programming or Web design, you’ll find that your skills are in demand. You may be able to partner up with someone looking for a skilled person.

Now just keep in mind that there’s plenty of pitching going on for biz ops and ad swaps. But focus on the joint ventures and you might land a pretty sweet JV deal.

JV Notify: Here’s a community of people who are offering and seeking joint ventures. It’s easy to see who’s offering what, which makes planning very easy. If you want insight into the next big launch, you’ll find it here.

You can purchase a paid membership or join free. Whatever you choose, you’ll gain much benefit. You may very well land your first or next joint venture here. JV Notify is also a good platform with which to broadcast it.

Be Aware and Offer a Skill

Be aware: At times JV partnerships don’t work out. There may be occasions when you work hard in a joint venture only to make a small amount of money. It can happen. Don’t give up.

Also, there may be times that a given JV partner doesn’t live up to his or her agreement. That can also happen. But again, don’t allow it stop you from doing joint ventures. Just be aware that things don’t always work out the way you’d like.

Offer a skill: Mentioned already is the fact you’ll be in a better position to land a joint venture when you bring a unique skill to the table. People look for those who have skills they don’t in order to do what they need to have done. Take a look at the following list.

Do you possess one of these skills?

· Copywriting

· Blog posting and article submission

· Creating, editing and uploading videos or audios

· Graphics Design

· Website creation

Skills like that are in demand, and if you possess a skill like that, you’ll likely land several joint ventures. So be sure to use any skill you have as leverage to form joint ventures.

Here’s something more to think about. You might have vast knowledge of a particular market, but know nothing about tech stuff. You don’t know how to build a Website, post to a blog, write articles, do videos, or anything else related to the tech side.

Not to worry because there’s always going to be someone out there who does know how to do that stuff. Here’s where a lucrative JV partnership can be formed. Locate a virtual assistant who knows how to do all of it and work with that person.

Another scenario could be that you know how to market products by driving traffic and getting conversions. But someone who has just designed an awesome new piece of software knows nothing about that. Here’s where a joint venture could really pay off.

Joint venture possibilities are endless and you do well to partner up. No matter how much experience you have, take the four ways presented here and apply them. Joint ventures can be very profitable and will establish you as an online marketer. So what are you waiting for? Get out there a form a JV partnership!

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