Tuesday, September 23, 2008

So how do you find good JV partners?

So how do you find good JV partners?

Step 1 - Decide what you need from your joint venture partner. What expertise or
resources do they need to posses to contribute to your project?

If you are looking for someone to promote your membership site it may be tempting to
approach the internet marketers that own the largest mailing lists. However, it may be more
productive to look for individuals that are experts in your niche subject, whose customer lists
will be more targeted to your project even if they are not as extensive.

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Step 2 - Networking is the key to finding a great joint venture partnership.

If you identify someone you would like to partner with, be careful about how you approach
them. If you think they would make a good JV partner, the chances are many other internet
marketers will have the same idea and they will get asked on a regular basis.

The following tips may help you when contacting your prospective JV partner:

• Find out everything about what they do beforehand. Read any reports or e-books
they have written.

• If they have a membership site, sign up for it and get to know their subscribers. Is
the project you want to involve this person in, or the product you want to sell really
appropriate for their customers?

• Marketing Seminars offer a multitude of networking possibilities. Many great joint
ventures have been conceived over a drink in the hotel bar, or over dinner at one of
these seminars.

Step 3 - Contacting a potential partner with your proposal.

• Try to get hold of their telephone number if possible rather than sending an e-mail.

• If you must send an e-mail, make it a personal one and not a standard request, or the
chances are they will simply delete it.

• You need to try to build a relationship with this person. If they are going to enter a
project with you, and potentially promote your product to their customers, they will
want to know something about you and the way you work.

• Don’t give them a sales pitch. A more straightforward approach will be appreciated.

• Don’t assume they are only interested in the amount of money they can make from
your project. They may be more concerned about the quality of your membership site
and their credibility with their existing customer list.