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Joint Ventures For Business Success

Updated on February 28, 2015

Joint Ventures

On-line JV’s are not that different than off-line JV’s. There’s a few nuances to both, but joint ventures are simple to implement and run. Anyone with an on-line business knows how important it is to have a list. With a customer list you can keep your customers updated on all new product offerings and offer valuable advice and information, keeping your products/services and you in mind.

But what do you do if you have no list, but have a great product or service and you want to get it out there in front of the eyes of the buying public? Joint Ventures.

You have to ask yourself some important questions.

1. What non competitive complementary product or service do I have that would benefit another companies customers?
2. What percentage of my profits can I afford to offer?
3. What’s unique about what I’m offering?
4. Is my product/service priced properly?
5. How do I go about contacting these companies?
6. What promotional and marketing materials do I have?
7. Is this a one time JV or do I have other products/services that I can offer?

Possible answers to the questions above. Your product/service must not be in direct competition. It has to complement the companies own products and services. What products/services would their customers buy before, during, and after, that you could provide?

You should at least offer ten percent of the profit.{elaborate} Which also pertains to question four, if the products price your initially promoting is not enough for you to make a decent profit, what ways can you make it better? Can your promotion include a more expensive back end product?

What’s your unique selling proposition? What makes your product/service better, different, than the rest of the products similar to yours? What can you do to differentiate yourself and your product? What’s your competitive advantage? Is it price, service, guarantees, proven results, higher quality?
If you have a hard time figuring this out it will be harder to convince your potential JV partner to promote your product/service.

Finding partners to do JV’s with should never be a problem, in fact there’s so many out there that you’ll find yourself having trouble choosing who to partner with. Not a bad problem to have.

So, here are some ways to find the ideal JV partner, and after will show you some ways on how to contact them.

1. Google advertising: You want to start out by researching companies that use paid advertising, such as Pay Per Click, which are the adds you see on the right hand side of the Google search results page. Companies pay top dollar(high cost per click) to be listed here.

These are companies that have big advertising budgets and are successful companies, and they are the ones you want to JV with.

Also you want to check out the results at the very top of the search results page that say adds, Those adds at the top are for companies that paid a premium to be listed there, again another sign of a company that has a big advertising budget and is a successful company. Then take a look at the natural organic search results which are the first ten listings on that page. The ones at the top are good indications of possible JV partners because they have the budgets to hire SEO, content, and copy-writing experts to get their sites to the top.

2. Companies that you already have an existing relationship with: Are you on a companies e-mail list? Have you purchased any of their products/services? Have you and the company corresponded?

Having an existing relationship with a company, you should already have a pretty good idea if the company is successful, if not, punch them up on the search engines using keywords, for instance if the company sells exercise equipment use the keywords exercise equipment, weightlifting,etc and see how they come up.

Do they appear at the top of the natural organic search results? Do they have any PPC listings? Do they have any premium listings at the very top of the search results?

3. Affiliate Networks: Check out affiliate networks such as Commission Junction, Share a sale, Click Bank etc. Affiliate networks can be helpful in finding JV partners. The companies that have signed up with these networks are looking for different ways to sell their products by having affiliates sell their products. Which means they can be open to new opportunities by doing Joint ventures with you. All of these affiliate networks together list thousands of companies, so there should be no problem finding JV partners.

4. Manta: Manta provides profiles and information on millions of companies, everything from years in business, annual income, ownership, and what products and services the companies provide. It costs nothing to research these companies, all you have to do is sign up for an account. A very valuable resource.

You might also want to check out dunn and bradstreet, however there is a cost but if your serious about doing JV’s it might be well worth the cost.

Once you have done the proper research to find your JV partners, now it’s time to contact your prospect

Firstly, if you have properly done your research, you should have the names of the owners and the companies addresses and phone numbers. One way to contact them is to send them a letter by Fed X or priority mail. And in that mailing you should introduce who you are, and why you are contacting them.

Be aware however that this initial contact is not to set up the JV itself, but to introduce yourself and that you have a non competitive complementary product/service that would be a perfect complement to the product/service they are selling, and would they be interested in hearing your proposal.

Include your contact details,(phone# address,email) and if you don’t hear from them after about a week give them a call and ask them if they received your mailing. Keep in mind that just because you have not heard from them does not mean that they show no interest in your proposal. Companies are busy with day to day business, your proposal might be prioritized among other business correspondence and they just haven’t got to it yet, or and it does happen they might just not be interested.

But that should not be a problem because you should already have found out through your research that there are literally hundreds of companies out there that are potential JV partners. You will not, repeat will not have every company you contact interested in your JV proposal, that’s impossible, so do not let it discourage you.

Now two things, first when you called them to find out if they received your proposal and they say yes and they are willing to talk to you about it, just keep it short and sweet and tell them that you have a product or service that would be perfect for their customers and it is something that their customers could buy before, during, or after they purchase from them.

Now, time to show them some courtesy and professionalism. Say you know that their probably busy especially since they took your call right then and there, and would it be better to set up a time for oh say about 30 minutes to discuss your proposal. If they do great you can look forward to talking to a company that has shown an interest in working with you.

If they have the time right then and there great too, which brings up question number 6. What promotional and marketing materials do I have?

You definitely should have no problem describing your product/service to your prospect, nobody knows it better than you do, and how it can benefit the company and their customers, and how it’s a non competitive complementary product/service.

You should have all marketing and promotional materials already done and prepared. Everything from your websites, sales letters, payment processing, back end offers,etc.

Nothing aggravates a potential JV partner more than not having everything set up and ready to go. Your going to send all this information to them to look over. Their going to look over your product/service and all your marketing and promotional materials to make sure that it will benefit their customers and make sure it’s everything you say it is.

After all their promoting you to their customer base, and they want to maintain their reputation and trust that they have worked so hard to build.
You accomplish everything on your side, and have everything put together in a professional business like manner ready to go, you and your JV partners will have a long and profitable relationship.

Which brings up question seven. Is this a one time JV or do I have other products/services that I can offer?

If you have your first JV deal done, and you’ve done everything as discussed above, your JV partners will not hesitate to keep doing JV deals with you. Their customers benefited from your product/service, your JV partners are getting an ongoing percentage of the profits, and your reaching customers you never had before, without spending money any on expensive advertising, and reaping the profits.


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