Today's question is....
Q - How to boost your revenue with Joint Venture Deals.
OK, this is not a question that I got from a member, but I wanted to touch on this important strategy because it can really benefit your business in a big way.
But first, I want to explain what I mean by JOINT VENTURE in the online marketing space.
Joint ventures have been around since the beginning of business and trade... and it's the easiest and fastest way to increase your customer base.
In the olden days, when the barter system was still the thing, merchants and traders used to collaborate with each other and share their resources to gain more customers.
Like they say, "you cannot do business by yourself" -- and that doesn't mean you just need customers on your side --- it means you need the support of other businesses and vendors in your space.
Joint Venture an easy concept, and it makes perfect sense to collaborate and benefit from other businesses.
Let's say that you and I -- we are in the same space... Internet Marketing.
And we both have audiences that are interested in Marketing and growth. And we both have products and services that are complimentary to each other.
For example, I publish a newsletter in the online marketing space (which I do) and you are an affiliate marketer selling a software that will help online marketers.
And let's say that I have 100,000 subscribers on my email list and you have about the same on your list.
This is a perfect match to do a joint venture deal. Our products match, and our audiences match, and we both have about the same number of people on our lists.
We can make an agreement to promote each others products and gain new subscribers and clients -- IF we make a deal -- without spending for advertising.
I'll promote your brand on my newsletter for a period of 3 months, and you'll do the same for me.
It's a simple but powerful concept... as you can imagine.. it's a perfect WIN WIN situation.
So why don't we do more Joint Ventures in this industry?
Why aren't YOU doing joint ventures for your business?
I think it's because we don't know how to approach someone with an offer.
Or, we don't want to network with others in our space because we think they are competing with us.
Another reason why people don't do Joint ventures is because they'd rather hold on to their 100K subscribers and don't want to share it with others -- this is coming from the fear of losing them -- and it's totally foolish in my opinion.
Your audience and data is valuable to others -- and so are other people's audience and data for you.
If it's a fair exchange, then everyone benefits and everyone grows.
I think that should be the attitude in business.
So, lets talk about where to find your perfect Joint Venture Partners.
The first rule of a successful Joint Venture strategy is to network with other people who are also looking to increase their audience using a joint venture.
Not everyone is that open minded and so you need to be with business owners who are open to the idea first.
There are several Joint Venture groups and communities out there and if you do your research, you'll find them.
There are a couple of places you can find people who already have the audience you are looking for.
Go ahead and post on the forum -- ask if anyone here would be interested in doing a JV Deal. I'm sure you'll find a handful of people interested to partner with you.
But be careful that they match your ethics and morals in business. Because not all Joint Venture partnership will go in your favor -- so make sure that you are dealing with people who have integrity.
There are also private groups that you can find on Facebook that are exclusive to people who are looking to collaborate. You can join them and network with people there.
If you want to learn more about how to create a Joint Venture Deal, and how to approach others and what to ask, I've all that information inside our Skills4Freedom VIP membership.
I feel that a Joint Venture strategy is one of the most powerful ways to increase your revenue -- and that's why we are building a Private JV group just for Skills4Freedom VIP membership.
As a VIP member you have access to this private group where you can network with others. But be patient because we are still working on bringing people to this group -- and with time it will be one of your most valuable places to do Joint Venture deals.
We'll teach you how to approach people, what to offer them, what to say, and all the legalities of getting into a successful JV agreement.
Maybe you've thought about doing this before, but did not know how to go about it.
Do some research and you'll find people who are willing to do it with you.
Why chase customers for your business... it's hard, and it's frustrating... With a few Joint venture deals you can reach hundreds of thousands of people who are your perfect customers.
I hope this information was useful for you.
If you want to learn more practical things to make money online the right way, join SKILLSforFREEDOM Newsletter and don't forget to check out the VIP membership...
Our VIP Membership will give you access to experts on your side 24/7 with Email Coaching, JV connections, Courses and valuable resources to create your dream business in 2021. Hope to see you inside.
Skills for Freedom Internet Marketing Newsletter For Home Based Business Entrepreneurs
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