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Are you ready for a win-win success?
In the next few moments as you follow every
word of my article worth thousands of dollars
to you -- you're about to discover what you
need to know to get a profitable joint venture
set up exclusively for YOU. And it's easy when
you understand how! Once you finish reading this
article you'll be itching to set up joint ventures
all over the place!
To answer your questions about how to start applying
this timeless principle of wealth creation I have
formatted this article in a quick question and
answer format. ENJOY!
What Is A Joint Venture?
A joint venture is a proven marketing principle
where two businesses strike up a business deal
where one of the two will do a marketing campaign
of its product to the business they're in a deal
with. And both profit from the deal. Usually one
of the two businesses in a joint venture will
get the lion's share of the profits and the other
business will get a smaller cut but they'll also
profit from the deal because they get new customer
names to market to. Remember, in marketing
you want to constantly buy/acquire new customers,
as they'll tend to buy from you again and again.
Here's an example of a joint venture:
Let's say Marketing Inc., sells marketing books
via direct mail. And Database Inc. sells database
management software through direct mail. As
you can see, both businesses market to the same
target market. (Other businesses.) Now Database
Inc., approaches Marketing Inc., and wants to
market their software to the direct mail list
Marketing Inc. has.
They both agree to do a direct mail campaign
together. Here's the plan… Marketing Inc.
sends out a mailing piece to their customer
list, of 40,000 names and endorses Database
Inc.'s software as a "must-have" product.
Database Inc. pays for the mailing and agrees
to receive a smaller share of the profits. But
Database Inc. instantly builds its customer
list because 18,000 people from Marketing Inc
purchase their software.
Well Database Inc. just made some money and
they've instantly landed an even greater treasure
- 18,000 new names added to their customer list!
Now Database Inc., can market their other software
products to these 18,000 new names. And make
more and more money for years and years to come.
That can translate into thousands and thousands
of dollars of extra profit.
While Marketing Inc. enjoyed the lion's share
of profits by simply endorsing Database Ink's
software. As a result they pocket tens of thousands
of dollars just from that mailing. Almost instantly.
Who Do I Set Up A Joint Venture
With?
Ideally, you want to set up a joint venture
with another business that isn't a competitor
and markets their products or services to the
same prospects as you. However, you can
get creative and market to prospects that aren't
necessarily in your same target market by
coming up with a clever angle.
Here are a few examples of likely partnerships:
Printing business + Business Book Business
Graphic design firm + Ad agency
Jewelers + Ritzy Restaurants
Italian Restaurants + Italy Travel Packages
Car Dealers + Car Wash/Detail Shops
Publishing Business + Publishing Business
Publishing Business + Software Businesses
Software Business + Software Business
Chiropractor + Nutritional Supplements
Dental Patients + Teeth Whitener
Newsletter + Book Products
Newsletter + Investment Service
Etc.,
If you want to reap the rewards of fast profits
from a joint venture then seeking out a product
company would be your best bet because businesses
that sell services will return your profits much
slower.
Why Would Another Business Want
To Do
A Joint Venture With Mine?
Chances are, if they're savvy, the other businesses
you approach will immediately see the value in
doing a joint venture. If you have a great product
and are willing to work out a win/win deal
you'll probably enjoy the fruits of a successful
joint venture. Keep in mind when you approach
another company to have them endorse your product
and do a mailing or advertising campaign to their
list, you're going to want to assure your business
partner that you're worth endorsing as they wouldn't
want to harm their reputation endorsing an unprofessional
company or one that sells a product of poor quality.
Some businesses, if you feel that they'd be perfect
to do a joint venture with, may not see the value
or understand the concept. And that's where you'd
have to educate them. If you're doing a marketing
campaign to their list and being endorsed by them
- you'll want to give them the majority of the
profits. And you'll probably have to pay the marketing
costs, but you'll reap new customers you can market
to, for years and years to come. And consequently
you'll make a lot more money.
On the other hand, if a company approached you
and wanted to market to your customer list, with
your endorsement, you'd want to keep most of the
profits as they are building up their customer
list by selling to your customer list and you'd
want to do your due diligence to make sure they're
a reputable business. It would be a disaster
to allow another company to market to your list
with your endorsement if their product is of poor
quality and/or their customer service is bad.
How Much Money Will I Make?
The amount of money you enjoy when you do a joint
venture is entirely based upon the deal you set
up. If you're going to market to another company's
customer list, your going to take a smaller cut
of the profits. But you'll make up for it with
many new customers you can market to for years
and years to come. That can mean thousands
of dollars of extra profit. On the other hand,
if a business wants to approach you to do a mailing
to your customer list, you could easily pocket
incredible sums of money in a short time.
There are no set rules. It all depends
upon what product you market, the cost of your
marketing campaign, how well the endorsement is
written, and the relationship of the endorsing
company with their customer list.
Any Pointers In Doing A Successful
Joint Venture?
If you're approaching another business for their
endorsement, make sure they have a strong trust
built up with their customer list. If they're
in constant contact with their customer list that's
a good clue their customers trust them. The
more their list trusts them, the more money you'll
likely make. As you've probably seen before,
some businesses can simply send an email to their
customer list - telling them that they liked a
certain book and that they should buy it. Without
even having to give a full sales presentation.
- And people will respond in droves and buy! It's
amazing.
Also, you ideally want to present a product
in your joint venture that's of high quality and
can yield a big profit. Especially when you're
approaching another company to do a mailing or
advertising campaign to their list, as you'll
have much of your profit eaten up by marketing
costs and profits paid to the business you're
doing a joint venture with.
I'm Sold. How Do I Get Started?
Now?
You can try to go it alone and you may enjoy
some success in trying to set up joint ventures.
Keep in mind not every business you approach will
be willing to do a deal. You may strike out
several times pitching to companies before
you land a deal or even a lucrative one. Or you
can have a professional set up lucrative deals
for you.
Business owner, feel free to contact me today
to request for a free review of your product for joint ventures or exploring any JV possibility.
To Your Win-Win Success,
Alexander Teo
Email: AlexanderTeo @ GMAIL.com
JV Advisor
P.S. Subscribe to the "JV SENSE" Newsletter now - It's free.
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