Joint Venture deals are a great way to build your business to exponential levels that can sometimes be unimaginable in the beginning. However, by establishing partnerships with companies in a complementary business it’s an excellent way to grow and leverage your business.
So, why is it that so many online businesses are now jumping on the joint venture bandwagon? Well, it can make both parties a lot of money!
Most joint venture (JV) partnerships are usually limited to a certain project which allows both parties to share in revenues, expenses and management of the venture. The JV partnership can either be for one specific project or a continuing business relationship that draws in revenues and profits for both individuals. Although JV’s sound like a good deal you have to ensure you have trust between you and your new partner. Regardless of how big or how small the deal is you need a certain comfort level to establish a healthy and fruitful relationship. It may be a short lived partnership or it could be longer depending sometimes upon the results and relationships you establish.
But what if you are entering into a JV deal that you’re not comfortable with? What do you do?
Well, I know a story of one online marketer who entered into a partnership with another website owner to sell their eBook. However, when given the link to promote this eBook it lead to a squeeze-page for that other website owners website. The joint venture partner was capturing the names of this other website owner’s visitors. However, the web owner promoting the book didn’t feel comfortable having this JV partner capturing the names of his list.
If you are uncomfortable doing anything make it completely clear with your JV partner. In this case, if he is not willing to change your link to a direct link to the product then perhaps you shouldn’t be doing business with him. Although capturing the names of your JV partner’s web visitors is common practice in online marketing, if you’re not comfortable with it, let your partner know and he should be able to establish something that better suits you. Remember, this is your business and you have the right to choose how and what you do with it. If your JV partner wants to keep the squeeze page consider compromising by getting paid for the leads you’re sending him. You can also find out if those visitors will be tracked so that if he makes a sale you get credit. Do what feels right! Compromise and comfort are two of the most important things when building relationships that will grow your business and the business of your JV partner.
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