Joint ventures, often called JVs, are partnerships between you and another person, group, or company. They are meant to be mutually beneficial where all of you can work together and benefit from it. There are many reasons to get involved in a joint venture, from being able to split the upfront costs, to choosing something with a unique skill set you don’t have.
Here is more information about joint ventures and how you can benefit from them as an affiliate.
Reasons to Consider a Joint Venture
First of all, it helps to know why you should start a joint venture. They can actually be very helpful no matter where you are in your career. While they are even more beneficial when you are a new affiliate or internet marketer, prominent, successful marketers also frequently join these partnerships. Here are some of the top benefits of considering a joint venture:
You can share your lists – An excellent benefit to having a joint venture is that you can share your contacts. You probably each have your own subscriber list, which means your product isn’t being sent to just one set of people, but two sets. This allows you both to expand your circle of contacts, share them, and hopefully reach a much wider audience.
You spread the costs between the two of you – Many projects require a lot of money upfront, from hosting and domain costs, to buying ads, and possibly even buying physical products, depending on what business you are in. Instead of handling all of these costs yourself, you are able to handle just 50 percent of the costs when you are a JV.
You can each lend your own unique skill set – You should try to start a joint venture with someone that has skills you don’t possess. For example, someone who wants to release an app might have a great idea and be really good at marketing, but doesn’t have the technological skill needed to actually create the app software. If you find someone good at the technical side, you each have a successful app release, by providing your own skills.
You will be able to get products released more quickly – Don’t forget that when two people or groups of people are working on the same project, you can get that project released more quickly. From physical to digital product releases, the sooner it is released, the sooner you will be able to reap the benefits.
How JVs Help When You Are an Affiliate Marketer
As an affiliate marketer, you can see how these benefits extend into your type of business. It is also beneficial when you are brand new to affiliate or internet marketing. As a new networker, you might have a small email list or haven’t really gathered a lot of resources. You can join someone who has been around a little longer, then have a more successful marketing venture. Your joint venture is also good for networking opportunities and to get your business off the ground while also sharing the costs.
Tips For Becoming Involved in a Joint Venture
When you want to have a joint venture with someone, it needs to be mutually beneficial. You should each have something helpful or unique to offer the partnership. If you are new and want someone more successful, show the other person what you can bring to the table. Perhaps you will handle all of the writing for your content or you are experienced at the marketing and sales aspect of affiliate marketing. You might also want to sign a contract so the entire JV partnership is fair from beginning to end.