Today we are talking about Joint Ventures. What are they and how do they work. The definition of joint venture marketing is using partners to get/refer a customer or prospect that has a need, to know, like, and trust you and ultimately choose your company for the product or service you sell. This is different than affiliate marketing as its a relationship one to one. Affiliate marketing is normally one to many.
As an example, we have a publishing group. We format for print and kindle, cover art, ISBN and AISN numbers, Copy write and publish, etc. We Joint Venture with an editor to do that part of the process. It’s a win win.
What are some things to think about before you look into Joint Ventures?
1. divide the work, risk and rewards
- leverage both of your networks
- better for large projects than affiliate set-up
- no long term ties and taxable complexity and lawsuit risks like a partnership
- when well designed easy and quick to set up and dissolve
- Division of work vs ideas and network can create conflict
- No contract or bad contract can set you up as a partnership by default with all those risks and tax issues
- Not as easy in and out as affiliate
Segment 2 –
Updates from our Facebook group, new member resources, special offers and promotions – starting off with our Increase Your Sales, Network and Site Rank series. This week Mike Muhney from VIP Orbit. Sign up for the Increase series here: Increase Series
Sparking our members – each episode, we feature one a friend of Spark It Network
Today’s Spark It Member…. Sohail Khan
Sohail is founder of The Joint Venture Group. He is a JV Broker. He puts businesses together that have complementary products and services to help them create ‘high-level and low-cost’ joint ventures to double or even triple their sales and profits! In 2013 Sohail completed his first published book with the late Jay Conrad Levinson titled ‘Guerrilla Marketing and Joint Ventures’ a few weeks before Jay’s death and is in book stores now.
To contact Sohail:
You can pick up a copy of Sohail’s book here:
Segment 4 –
Creating a social spark – hashtag of the week in facebook group, on GPlus and twitter.
Today’s hashtag: #Jointventures Who are you looking to joint venture with
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