A joint venture is nothing more than an agreement in which two or more partners (or businesses) work on a project for a set period of time. These projects can be short term or long term.   Joint ventures can include a wide array of projects and promotions in many forms. The benefits of joint venturing truly are endless.  Here is just a list of a few of the things that can be accomplished through joint venturing:

1. You can increase your credibility by teaming up with other reputable, branded businesses.  This is great when you are fairly new and still building your reputation.  A common method for this is participating in give away events with a better known marketer.  It is also widely used when launching a new product you have created.  The more well-known marketers you are working with, the larger the list of potential subscribers and or customers.

2. You can get free or discounted products and services. Many marketers will trade products and services for the option of posting or publicizing a review to your list or blog.  Not only does this get the word out to more people, it also enables you to build your list. (We always want to build our list!)

3.  You can get an edge on your competition.  Obviously if you are partnered with one or more people when marketing, then you have the ability to target a much larger audience.  This gives you the opportunity to outsell your competition.  For example – a well known marketer is launching a new product.  You and your partner(s) are affiliate marketers participating in the launch.  So are about 50 other people.  Your joint venture has a potential of targeting more customers by sending to multiple lists…. that’s a larger target audience….see where I am going?

4. You can solve your business problems.  Sometimes teaming up with a partner (especially one with more experience) leads you to some shortcuts or solutions to problems you may have been experiencing in your own business.  Learn from their experience and expertise – the time, money and frustration you may save yourself makes this priceless!

5.  A great economical reason to participate in a jointventure is the ability to share or offset some of the advertising and marketing expenses you would normally incur.  In these times especially, that is a pretty compelling reason to consider joint ventures.

6. There is a lot to be said for volume sales.  If you participate in a joint venture and can increase your target audience, not only do you build your list, but you can increase your ROI (return on investment) and possibly lower the cost of your product – or just make more money! 

7. Sometimes, participating in a joint venture is just the leg up you may need to create new or increased funding sources and lines of credit.

8.  You can find and create new distribution channels for your products.  This is priceless and can carry on throughout your marketing career.  

9.  The alliances you build with other businesses and marketers will open up new opportunities in ways you may not even think of at this time.  A great example I saw recently was a product launch of interviews conducted with 5 different marketers in their specific fields of expertise. The person launching this had joint ventured with these individuals at various different times over the last few years and culminated it all now into a new product to sell and teach with.  That’s pretty savvy marketing if you ask me.

10. You can almost always offer more bonuses to your customers as a result of combining your resources.  Sometimes, when there are several affiliate marketers competing for the same sales – the bonuses are the cincher in the deal.

As I said earlier, these are just a few of the numerous benefits of considering a joint venture opportunity.  There are too many more to try and list here today.  I probably couldn’t think of all of them right now anyway.

Hope this information is as beneficial to you as I intended. Remember, my goal here is to find you good, solid, free or inexpensive tools, tricks and tips for launching and growing your internet business.

Till the next time!