Believing These 5 Joint Venture Myths Is Bad For Business

Joint Ventures - or JVs for short - are a hot topic lately.
But for people earning their living online JVs are nothing
new. All of the most successful Internet Marketers already
know that they are the fastest, easiest way to grow ANY
business in ANY industry.

To help you get started using JVs in your business, here’s
the truth behind the 5 biggest Joint Venture myths...

Myth #1: Joint Ventures are only for the “big guys”.

The truth is JVs are even more important for small
businesses than they are for large ones. Sound crazy?

Well consider this...

What are the characteristics of a small business? No mailing
list, lack of recognition, limited contacts in the industry,
few products or services to offer. These are exactly the
things that businesses Joint Venture for!

The key is to look at what you do have to offer and find
someone who is willing to give you something you need in
exchange for it. What you offer may be your time (for
example to write a report or organize a contest), a
percentage of your sales, your expertise - or any other
resource you have that others need.

Myth #2: The only people you should approach with a Joint
Venture proposal are those who have huge lists and high
traffic web sites.

If you can get those people interested in working with you
then great! But more often than not this isn’t possible for
small businesses.

So how do you use Joint Ventures to grow your business?

Simple – approach other small businesses. Chances are they
too are looking for ways to grow so they’ll be eager to
work with you. Even if you only get a few visitors or
subscribers, remember, you wouldn’t have gotten them at all
on your own!

Myth #3: You should never approach your competition with a
Joint Venture deal.

“Coopertion” is a term that became popular a few years ago.
It is a hybrid of “competition” and “cooperation” and is a
great word to describe how you should look at Joint
Ventures.

Unless you are selling the EXACT same product (for example
through resell rights) then go ahead and approach them with
a proposal that will benefit both of you.

An example of how you can do this is to co-author a report
on your industry. Include information on both of your
products and then jointly offer it to your customers.
You’ll be surprised how many people purchase both products.

Myth #4: You must have your own product to do Joint
Ventures.

If you are online to make money then you are obviously
offering SOMETHING. That may be a product you sell for
someone else, a newsletter, information or something else
of value to your target market. No matter what it is, you
still need the same thing as people who have their own
product – leads!

This is where JVs come in. What you need to do is look for
people who are already making offers to your target market
and approach them about working together. Offer them
something they wouldn’t have on their own and they’ll gladly
partner with you.

Myth #5: Having someone recommend your product or service
is the only type of Joint Venture worth doing.

When someone recommends your product to their list or web
site visitors it is known as an “Endorsement” Joint
Venture. Basically, it’s an affiliate program only you
typically give the person a higher commission.

Although this type of Joint Venture is very successful, it
is only ONE of many types of Joint Ventures. And depending
on what you’re offering it may not even be the most
effective.

Be creative when thinking of possible Joint Ventures.
Consider running a contest, creating your own ad co-op,
doing ad swaps, co-authoring an ebook or even co-creating
a whole new product or service. You’re only limited by your
imagination!

There you have it, the truth behind the 5 biggest Joint
Venture myths. Now that you have some ideas for using JVs
in your business, get out there and make some money!

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Jennifer Tripp is the creator of JVAssistant.com - a
complete Joint Venture solution that helps small businesses
find partners, create Joint Ventures and track their results.
To see how we can help you make money with Joint
Ventures sign up for a 7 day trial:
http://www.jvassistant.com/dc/trial.asp