• May
    21

    Advantages and Disadvantages of Joint Ventures

     

    Six years ago, in an attempt to increase my writing income, I stumbled across Internet marketing. I was fascinated and started to learn everything I could but things were hit and miss in those days.

    After much trial and error (and several years), I stumbled across a program called: Protege’, created by Terry Dean and mentored by Jeff Mulligan. I liked what I saw on the sales page and signed up.

    Following that, I worked for several months to develop my first project – an ebook. The title was; “The Photoshop Companion.” The book contained a series of articles I’d written over the years as well as several specific tutorials on how to use Photoshop, such as image masking, color correction, etc.

    Once the book was complete, I began marketing it using the methods outlined in the Protege’ course. After trying several techniques, I came to the chapter on joint venture marketing and started to use the materials involved.

    I called many software companies and webmasters. There were nibbles of interest but nothing major. After three weeks of work, I contacted a software company, a direct competitor to Photoshop. I pitched them on my project and told them I was willing to rewrite my content and brand my book to their software product.

    That sealed the deal.

    I rewrote the book, which took several months. The short story is that once my book was picked up, it was used as a value-add product with the software and as a standalone product.

    Over four years I sold 11,000+ copies and earned a small fortune. This was my first joint venture and the most successful, though in some ways it was also a failure.

    Why?

    Because I assumed all the time, money and risk. If it had flopped I would have taken a major loss. Fortunately that didn’t happen.

    Since that experience I searched online for various program that would show me how to do joint ventures, but I kept running into the model I’d used previously.

    That all changed one day. I was working on a search for a book project and stumbled upon a site where people do joint ventures. Watching the videos, I was captivated. Here was the missing piece. Within a couple of days I joined the group and started learning what to do.

    What I’ve learned since then is that to be effective in joint ventures they should take little time to create, be simple to maintain and have little or no risk, either in time or finances.

    In this case, I bring together two like-minded parties for the purpose of doing business and assuming they do so, I make a commission. Now this could be a one-time transaction though it’s far better if transactions continue, because you’ll make money over and over again.

    This is a great way of doing business. Now if you were to set up several income streams of this type, each making a minimum of $1,000.00/month, you can easily see how quickly this could become very lucrative.

    The best part is that you can learn how to do this yourself and you don’t need to sell, except, perhaps, for creating the deal. After that, you become a lead generator or you create a deal with someone who is a lead generator to do that work for you. That would be really sweet deal.

    In recent months I was introduced to the world of mobile websites. I wound up writing several articles for HTML Goodies on the subject and shortly after that I wound up with an opportunity to get start marketing this service. The end result is that I’ve now entered into a joint venture with several partners and I’m now actively promoting mobile websites and services. To learn more, visit my mobile site.

    To check out some of the mobile sites I’ve built, go to:

    Willie’s Bakery & Cafe’

    or

    BC Golf Safaris

    1 Comment
 

1 responses to “Advantages and Disadvantages of Joint Ventures” RSS icon


Leave a reply

Archives