Joint Ventures

There is no such thing as a ‘silver bullet’ for businesses. You know, one trick, idea or scheme that allows any business to succeed. However, I’m pretty sure that I found an approach that comes pretty close.

I’ve been managing affiliate programs for years now. Basically, affiliate programs are partnerships that take place on the Internet wherein two parties work together in a manner that benefits each of them. Most often this takes place in the form of commissions on sales, paying per leads, etc.

It is a very effective way of doing business because both parties are simply leveraging assets that they already have. There is usually very little cost or risk associated with working together.

More recently, I’ve come to discover that this concept can be even more effective when you take it offline and into the real world. We call these strategic alliances or joint venture partnerships and they are based on the same premise as affiliate programs. You find other businesses that have something you want and you offer them something in return for sharing it with you.

If you’re stumped as to how to find new customers, consider JVs. Because there is no costs involved and very little (if any) risk, you can test a variety of partnerships and payment plans, discard the ones that don’t work and expand the ones that do work.

Perhaps the best part is that you only pay for results – after the money is your bank account!

The key is to finding good partners and approaching them in the right way. If you need help doing so, contact me.