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Joint Ventures Revealed
Copyright 2004 Adam Waxler
There is a great deal of talk on the Internet about joint
ventures and how they can lead anyone to a rapid increase
in profits.
Is this true?
Yep.
You see, the best part of doing a joint venture is that it
gives small businesses the opportunity to benefit and
profit from the traffic of a large business.
And, joint ventures work regardless of your niche market.
For example, the first web site I created sold (and still
sells) my ebook on teaching strategies. However, there are
literally thousands of high-ranking, high-traffic teaching
web sites. How in the world was I going to compete with
them when I was just starting out?
Well, the good news is, I don't have to compete with them.
Instead, I can use these web sites to my advantage. That
is what Joint Venturing is all about and that is why it
works so well for small Internet businesses.
Instead of trying to compete with major web sites, simply
have those sites sell your product for you. Of course, you
will have to give them a nice percentage, but it certainly
is worth it.
First thing you will want to do is set up an affiliate
program. Setting up an affiliate program is simple.
Clickbank is just one a several companies that will handle
all your affiliate needs for a very small fee. However, you
can also purchase software such as AssocTRAC 4.0 that is an
all-in-one affiliate management solution
(http://www.marketingtips.com/assoctrac/t.x/806885).
You will also want to make your product as easy as possible
for your JV partners to promote. For example, you will
want to create pre-made classified ads, articles, graphics,
banners, e-courses etc. that your JV partners can simply
copy and paste and add their own affiliate id.
Once you have your affiliate program all set, you will need
to flush out high-ranking, high-traffic sites within your
niche market.
One way to find joint ventures online is by subscribing and
participating in online forums that deal with your target
audience. If you are involved in Internet marketing the
Internet Warrior Forum is a fantastic forum for finding
joint venture partners:
http://www.money-teacher.com/internetwarrior.htm
Of course, you could also do a simple Google search for
keywords in your target market and then do a little
research on the top web sites. However, you want to make
sure you find web sites that have a great deal of traffic.
There are a couple of ways to go about this. I would
suggest downloading both the Alexa toolbar and Google
toolbar. Both these toolbars will give you an idea of how
much traffic the sites you visit get. Google gives sites a
Page Rank (PR) from 1-10. The higher the better. Alexa
gives a number rank...the lower the better.
Then, for each web site you visit as a potential JV
partner, you need to do a little research. See if their
web site is promoting other products. If they are then
they will likely promote yours as well.
However, even if they do not promote other products on
their site, they still may promote other products through
their e-zine or newsletter, so don't count them out just
yet.
Try to build up a large list of high-ranking, high-traffic
sites that could possibly promote your product.
Once you have your list (the larger the better), you want
to send a carefully written email explaining the advantages
of doing a joint venture together. Tell the business owner
the benefits of the joint venture. Explain why it would be
a win/win situation for both of your businesses. Make sure
to explain the benefits of your product (just as you would
in a sales letter) and make sure to let your prospective JV
partner know that this will be an easy way to increase both
of your profits. Your email should have a link to your
affiliate page that clearly explains how to sign up for
your affiliate program and provides simple copy and paste
promotions for them to use.
Basically, you want to make it so easy and profitable for
them that they can't say "no".
Oh yeah, but keep it fairly short :)
Using all the methods above will greater your chance of
constructing a profitable joint venture.
Of course, the above methods take time. Fortunately, there
is also software available that will help you put together
powerful joint ventures faster and more efficiently by
taking out most of the legwork. Here is a great example of
such software:
http://www.money-teacher.com/makelinks.htm
Either way, using software or doing the work yourself,
joint ventures are the best way to skyrocket your profits.
And remember, joint ventures work for all niches and are
great even for small businesses.
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Adam Waxler owns and operates The Money Teacher web site
and publishes The Money Teacher's Home Business Tips
Newsletter teaching others how to reach online success. To
get your free newsletter subscription send a blank email
to: newsletter@money-teacher.com or visit our web site at
http://www.money-teacher.com
More articles by Adam Waxler - http://www.submityourarticle.com/articles/Adam-Waxler-161/
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