| "Joint venture" is just a fancy term for two or more | | | | (2) The general "To whom it may concern" query. |
| people collaborating on a marketing project. Typically | | | | New business owners, seeking partnerships, often |
| one person invites the other, although occasionally an | | | | send out general mailings to everyone on their lists: |
| idea grows out of a joint conversation. Technically, an | | | | "Hey, want to be my partner?" These requests |
| affiliate program creates a joint venture: Mary | | | | typically get ignored. Worse, they get responses |
| recommends Tim's program. When people buy from | | | | from inexperienced or desperate potential partners - |
| Tim, based on Mary's recommendation, Tim pays | | | | just the kind you don't want to work with. |
| Mary a commission. | | | | Broadcast mailings just don't make sense for JV |
| When you're the one who wants to start a joint | | | | requests. Before setting up a partnership, people like |
| venture, you have to think about how you are going | | | | to know what you are all about. They want you to |
| to extend the invitation. Surprisingly, even | | | | demonstrate that you invited them thoughtfully, not |
| experienced marketers will make these mistakes. | | | | randomly. It's like going announcing at a party, over |
| When you initiate a Joint Venture, you typically begin | | | | the loudspeaker, "Hey, anybody want to go out on a |
| with a query. However, you must respect your | | | | date tonight?" |
| potential partner and demonstrate that you | | | | (3) The vague "Lets do something together" query. |
| understand the rules of the game. Here are three | | | | This query comes in two forms. "Hi there! I like your |
| ways to make sure you will get a "no" to your | | | | style! Lets do a JV together." |
| invitation for joint venturing. | | | | Typically the sender is new to the Internet or |
| (1) The query for a product or service that is all | | | | incredibly naive about JV promotions. These |
| wrong for your partner's audience. | | | | messages tend to get ignored as well. |
| For example, if your potential partner rarely promote | | | | When you approach someone for a prospective |
| spiritual products or services to his or her list, then it's | | | | partnership, you need to be able to state what's in it |
| not a good idea to send a request to participate in a | | | | for each party. You identify each partner's |
| campaign based on religion or the Law of Attraction. | | | | responsibilities and benefits, objectively. You market |
| Relatedly, don't send multiple queries for the same | | | | yourself as a terrific partner, emphasizing what you |
| product or service. If your prospective partner says, | | | | will bring to the table. Most important, you |
| "No thanks - it's not a fit for me" then that's your | | | | demonstrate that you have chosen both the |
| answer. You may try to negotiate but these efforts | | | | promotion and the potential partners with great care. |
| often backfire. | | | | |