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12. Question 8. You keep talking about joint ventures, but I can't seem to score any, what gives?
Joint ventures is a very interesting subject. Many people unfortunately misunderstand the concept when they're told to go out and get joint ventures. If you're having trouble pulling in the deals that you need to get your business off the ground, the first thing you need to carefully look at is who exactly are you contacting about these joint ventures.
Many people seem to think that the answer to all their problems is to get an ad to a list through the big names, but with this comes a problem. Imagine you were earning at least 20k a month and releasing your own products, had a nice sized list of customers, and a large affiliate base, and that this is widely known. All the people that think you're the answer to their problem, and the list and people you're in contact with are the answer to their problems, you can imagine how many joint venture request mails you're going to get every week. All these people out there that see you earning all that cash, and think that if they get access to your list, they'll earn this cash too.
This is not the case at all. When we speak about joint ventures, I'm definitely not advising you to go out there, pick every big earner out of the bag, contact them and try to get an ad to their list, because there are already so many people doing the same. So unless you have something under your belt in the way of resources and products already, it's not going to be easy to prove that you're going to be worth it. And at the end of the day, that’s what we're all doing including me.
Every time I contact someone for a joint venture, I'm in a position where I have to sell myself and my product to them, proving that it's going to be worth their while, and you're doing exactly the same thing. As you can imagine, if you have a few products under your belt already, this is going to be far easier to do this, especially to the big names.
Don't worry though, all is not lost and, there’s a lot more potential out there than you may think. When we previously talked about subscribing to peoples lists as a first step in the joint venture operations, we were talking about, not just the biggest names that you know but, the ones where you're more likely to get a response and noticed, simply because there aren't so many people vying for the same thing.
That's not to say you're settling for second best, far from it. There have been plenty of sites that I've joined previously that displayed top affiliates, those that obviously have the big targeted resources already built up to promote to. Throughout these names I come across some of the big guys, that is true, but it might surprise you to find out that at least ninety five percent of those top affiliates I've not heard of before. They're not big names, but they sure bring in as much cash as the big names.
Don't for a moment think that your resources are limited to the ten or so big guys you know, because let me tell you there are thousands and thousands of people out there, even just taking the online marketing scene for example, that are doing really well, even though they haven't achieved this almost celebrity status with your particular circle of marketers.
Keep this in mind, and don't feel trapped or constrained by being fooled into thinking you have to compete with hundreds of others for a single joint venture. That's not to say you shouldn't contact big famous names at all, or ever, but be advised, many others are doing the same. One joint venture with a relatively unknown can be far more powerful than joint ventures with the well known too. It all depends on the resources they have in hand, so if I could give you one tip about joint venturing, and one tip only, it would be to widen your search, and don't just stick to those that you've heard about.
Thankfully, we're not limited to one tip, so I'm going to give you another big one and hopefully put your mind at rest. Now when you create and launch your own product, and manage to pull your target number of joint ventures, don't fret and worry about how hard it was, because, I won't lie, making the contacts in the first place is by far the hardest part, but, again, this snowballs. You meet person one, who introduces you to person two, three and four, and so on preventing the need to go out and look for new joint ventures for each and every product you create. You simply don't have to do it.
In addition don't neglect the people you've done joint ventures with before. Work with them again, look at their proposals, listen to their ideas and what they have to say, and you'll find that once you have your first few you don't need to go out doing all of that again. Kind of creating one big circle of marketers that promote each others stuff and joint venture with each other.
Not only that but add in the fact that after your first few successful products with this system, for want of a better word, is set up in such a way that you're going to be gathering your resources, and be pretty hot joint venture material yourself. Most importantly, it's at this stage, even if your name is only known by your customers and affiliates, that they're going to start coming to you with proposals which will allow you to develop your already rather large pile of resources and promotion power.
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