5 Advantages of Joint Ventures in Internet Marketing (Plus 3 Disadvantages)
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Want to learn the advantages of joint ventures (as well as the disadvantages)? One of the fastest ways to make a pile of cash in Internet marketing is by striking up lucrative joint venture partnerships in your field. It is well known among successful entrepreneurs that two minds is better than one. With a JV, what you have is leverage. Two people promoting each other is better than one person promoting himself.
First, let's start off by discussing the 5 advantages of joint ventures:
1. As mentioned earlier, you have leverage. If you promote your product alone, your promotional power is only to the power of one. If you get someone else capable to promote your product as well, your promotional power changes to the power of two. You also get to leverage on your partner's money, time and effort to help each make more profits.
2. More credibility in the market place. You can increase your credibility in your niche if a well-known JV partner promotes your product. Consumers in the market will start to recognize your name and give your products more notice.
3. Quick success. If a high-rolling partner promotes your product to his mailing list, it is likely to generate hundreds or even thousands of dollars in just days or even hours. This gives you a foundation to build your own list of customers.
4. A few JVs lead to more. Once you do a few a partnerships like these, other prominent business owners in the niche will start to notice you and will be more receptive to doing business deals with you.
5. It's virtually free. Most JV promotions don't require to pay any money upfront, so it's free traffic to your website. You only pay your partners when they make sales or refer leads.
So what are the 3 disadvantages of JVs?
1. You may become reliant on them. If your business relies solely on such partnerships, your business may be in trouble should partners ever decide to stop doing business with you. It's always better to have other people's support, but should it not exist, you should be able to stand on your own two feet.
2. You forget about developing automated marketing systems. JV's are usually not automated and most are one-shot deals. Also, it takes time to approach potential partners and work out deals with them. Automated marketing systems like pay per click, on the other hand, don't require much human interaction and are dependent mostly on your own efforts.
3. You become focused on capital gains instead of cash flow. Most JV's are all about capital gains - promoting a product one time and gaining profits from it, but it's usually not regular cash flow. This means you have to continually do them to continue making profits. But an automated system is more likely to generate a regular income.
My final advice is to do JV's in your business, but don't be a one trick pony - develop automated systems as well.
Click Here to download your FREE report called "Instant Money Secrets: How You Can Make $500-$1,000 Per Day Online Using A Simple Secret 3-Step System!" Instant Money Secrets
First, let's start off by discussing the 5 advantages of joint ventures:
1. As mentioned earlier, you have leverage. If you promote your product alone, your promotional power is only to the power of one. If you get someone else capable to promote your product as well, your promotional power changes to the power of two. You also get to leverage on your partner's money, time and effort to help each make more profits.
2. More credibility in the market place. You can increase your credibility in your niche if a well-known JV partner promotes your product. Consumers in the market will start to recognize your name and give your products more notice.
3. Quick success. If a high-rolling partner promotes your product to his mailing list, it is likely to generate hundreds or even thousands of dollars in just days or even hours. This gives you a foundation to build your own list of customers.
4. A few JVs lead to more. Once you do a few a partnerships like these, other prominent business owners in the niche will start to notice you and will be more receptive to doing business deals with you.
5. It's virtually free. Most JV promotions don't require to pay any money upfront, so it's free traffic to your website. You only pay your partners when they make sales or refer leads.
So what are the 3 disadvantages of JVs?
1. You may become reliant on them. If your business relies solely on such partnerships, your business may be in trouble should partners ever decide to stop doing business with you. It's always better to have other people's support, but should it not exist, you should be able to stand on your own two feet.
2. You forget about developing automated marketing systems. JV's are usually not automated and most are one-shot deals. Also, it takes time to approach potential partners and work out deals with them. Automated marketing systems like pay per click, on the other hand, don't require much human interaction and are dependent mostly on your own efforts.
3. You become focused on capital gains instead of cash flow. Most JV's are all about capital gains - promoting a product one time and gaining profits from it, but it's usually not regular cash flow. This means you have to continually do them to continue making profits. But an automated system is more likely to generate a regular income.
My final advice is to do JV's in your business, but don't be a one trick pony - develop automated systems as well.
Click Here to download your FREE report called "Instant Money Secrets: How You Can Make $500-$1,000 Per Day Online Using A Simple Secret 3-Step System!" Instant Money Secrets