Who is a Potential Joint Venture Partner?
By Marc Goldman
Anyone! But there are a few things that each potential partner must bring to the table:
The potential endorser should:
Possess a large list. It is all well and good to have a list of 100 names but we are
trying to make money folks. I suggest that the list should not be smaller than 1000
names and they should be 40 percent (400) paying customers.
Be well known in the industry. I have a few industry friends who are true players,
these guys have very large lists. If I wanted to JV, this is who I would go to first.
You see, their recommendation will go a very, very long way and their word is often
gold to their customers and contacts.
Handle the mailing (on the net, the bulk emailing) for the endorsee. Since the endorser
is the one who has the relationship with their list, they would have a better idea
of the type of content that would evoke the greatest response from their audience.
The endorsee should:
Have a quality product / service that the list owner has no problems putting his
valuable reputation behind. You are asking them to risk their credibility on your
product or service. It had better be good!
Offer all the fulfillment of the product unless this is something that the endorser
wants to handle.
Handle all the payments to the endorser so he/she has nothing else to do other than
send out the endorsement. P.S. In some cases it may be best if the endorser handled
the payment, sent the endorsee his cut and the endorsee took care of fulfillment.
This is one way to avoid getting ripped off. Remember, you don't always know what
these people are like (especially online).
Have the list owner write the endorsement as they may have a particular writing style that
their list is used to and any deviation from that may decrease the potential for sales.
How Can You Get in Touch with Joint Venture Partners?
Depending on what you want to sell, here is what I suggest for targeting potential
JV partners. I am going to stick to the net here as most of you will be doing this
online. However, later in the article you can find a few offline ideas you can work
as well.
1. You should network: Get your name out there and let people know that you are a
potential player. Go to the forums and participate!! Get your name known. Participate
in mailing lists and let people see your signature file. Get your name known!!! I
can't stress that enough. It will make you more credible when you approach one of the
big guns and request a deal.
2. Research potential partners by doing a search for them using the Search Engines:
This is one of the most underutilized methods ever to seek out JV partners. Here is
what you want to do. You want to visit search engines and find the people who come
up under your targeted keywords.
Let's say that you want to sell a book on figure skating.
I would suggest that you go to the top ten search engines and put in the keyword
phrase: "figure skating". Visit the first 10 sites that come up and contact the
owners to find out if they are interested in working a JV with you. Make sure they
are not selling a product that is competing with yours.
However, this could prove quite time consuming so I suggest you automate the process
by downloading this FREE software called Copernic. It will visit the search engines
for you and give you the most relevant sites that come up on all of the 10 search
engines under your chosen keyword.
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