If only I could get a joint venture. I’d be a millionaire. Yeah, you hear it all the time from people trying to make a buck online. They think the answer to their problems is to hook up with some big name marketer for a hot joint venture and sell thousands of units of some product. I wish it was that simple. Truth is, joint ventures, while they can be profitable, are not the be all and end all…even if you CAN get one. This article dishes out the REAL truth about joint ventures.
Let’s start out with what’s probably the most important aspect…the success factor. Here’s a reality check for your already overcrowded brain. A joint venture does NOT guarantee success. How do I know? My first JV with a big name marketer got me about a half a dozen sales. My second JV didn’t get me one after the initial launch. All in all, considering how much time we put into it, I’d say it was a huge failure. My third JV did well but my fourth one only did well for about three months. After that, the site died a horrible death.
Bottom line on the success scale. Joint ventures are NO guarantee that you will have a monster hit on your hands.
Okay, let’s move on to the actual working relationship with the person you’re venturing with. I’ve been lucky. Most of my relationships have gone well. However, I have had my share of deadbeats. I’m talking about people who either never get back to you OR…after you’ve done all the hard work getting the product ready, they back out on you. I’ve had that happen to me once and let me tell you…it’s not fun. Truth is, people WILL let you down. Get used to it.
Finally, there is all the legal nonsense. Who owns the rights? If you want to disband, who gets what? I have a product that is absolutely worthless. It’s not selling and my partner won’t let me buy him out. He’s convinced it will still sell. I know that if I had it myself and could just lower the price and sell it through other channels, it would do well. But my hands are tied because I have a partner and legally, I can’t do the things I want to do without his approval. Yeah, the legal stuff will kill you.
So as you can see, a JV is not all it’s cracked up to be. It takes work and a partner who is easy to work with. Today. After learning a lot about this aspect, I do quite well. But it didn’t come overnight. It takes a lot of work.
And a little luck doesn’t hurt either.
To YOUR Success,
Steven Wagenheim
Want to discover an almost foolproof way of getting a joint venture? Check out my site at http://www.stevewagenheim.com/jvs/index.html and find out how I get just about any JV that I want.