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JOINT VENTURES
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How to Craft a Winning Market ...
Should I get private Investor ...
Making Your Joint Venture A Win Win Position
Wazir Singh
that takes place, that's why many ebusiness folks are
seeking out joint ventures. What IS a joint venture
(JV for short) you ask? Basically it's when you agree
to form a partnership and jointly promote someone.
== BENEFITS OF JV ==
Here are some benefits you can realize from forming
joint venture.
1. EXPOSURE: You can instantly "double" the exposure of
your products and services by tapping into each other's
built-in audiences, business relationships, and mail
lists.
2. MENTORING: As partners, you'll form a powerful
relationship and learn from one another. As you create
plans together, each partner's specialties and
knowledge will complement the others.
3. FORM A DYNAMIC DUO: Being associated with other
highly successful business people enhances your image
and reputation. Look at the fantastic relationships
that Jim Daniels, Rick Beneteau and other successful
marketers have built. They are examples of people who
truly are putting the power of partnerships to work!
== TIPS FOR BUILDING A SUCCESSFUL RELATIONSHIP ==
Are two heads better than one? Well YES and no... You
see, relationships can be sweet or they can quickly
turn sour. Like a good marriage, a joint venture
relationship needs to be built on a
solid foundation of trust and friendship. Partnerships
need nurturing, loyalty, and faithfulness from both
parties. It's not a one way street. Partner's need to
genuinely care about and trust each other.
1. BE HONEST AND SINCERE: It all starts with the
proposal. If you don't write a strong proposal, the
future of your JV will quickly be decided with a
"click". An impersonal, hard sell letter will turn
your prospect off. Instead, write a personalized
proposal including what you both could bring to the
project and what you both can expect of a joint venture
partnership.
2. KNOW YOUR POTENTIAL PARTNER: Take time to get
familiar with their business, their web site, and
ezine. This way can tell your partner what you like
about their business and how you foresee them working
together. You may even consider making a phone call to
say hello and "meet" each other first. The few joint
venture letters I actually consider are from folks who
take time to know me and my business, and speak
honestly about WHY and HOW we could work together.
3. WHAT's IN IT FOR ME? Explain up front how working
together would be mutually beneficial to both of you.
If a joint venture proposal screams "ME, ME, ME" then
why would you consider it? Instead, take time to think
about how YOU could help your potential partner.
Clearly state the potential benefits to your partner.
Will they gain instant access to 40,000 extra
subscribers? Will you endorse your partner's products?
How can you grow your partner's business?
4. RESPECT YOUR PARTNER: What you do reflects on the
reputation of your partner. Conduct yourself with
integrity and professionalism. If I am promoting "Joe
Schmo's" product, I expect Joe to treat my customers
with respect and offer outstanding customer service. If
Joe doesn't answer his emails, offers bad customer
support, or his product doesn't "work" - then that
reflects badly on his partner's reputation.
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