No matter what niche you market in, your biggest paydays for the least amount of work will come from your joint venture deals. But you can close joint venture deals better than your competition if you will only learn from their mistakes: trying to network with anyone, blasting out e-mails to everyone, and forgetting to make their joint venture offers benefit-based, just like any other offer.
The first thing you need to know about joint ventures is that you are not going to be able to network with just anyone. In fact, 99% of the people you have a chance to work with will be toxic poison for your business. They either won’t be in a compatible niche with you, they won’t make the effort, or they won’t have any skills to bring to the table. The solution to this is to build the relationship in steps. Try promoting their products or get them to promote their products before you start jump into co-products together. Think of this as upselling but with joint ventures… weed out the small-time buyers!
Another humungous joint venture mistake is when people blast out e-mails to everyone. You definitely need to weed out the people worth your joint ventures, but most people can see form letters from a mil away, so if you blast out the same message to hundreds or thousands of people, you might not even get in contact with those people worth doing business with. For that reason, you need to present each person a custom offer, but that’s easy. Change your form letter to mention them specifically, their web sites, their niche… something they said in a product or their blog. If they host weekly webinars, offer to do a webinar with them… give them a guest blog post, make them a bonus report they can sell… whatever plays to their strengths.
When you try to get affiliates and joint venture partners to promote for you, you need to make the offer benefit-based instead of feature based. What can it give to their subscribers that nobody else can give? How well does your product convert, what’s the commission given, and what do other joint venture partners have to say about promoting that product? Give them ideas about how they can promote to their blog, list, as a backend off, and so on. That’s right… treat your affiliate pitch page like a sales letter, but the “customer” is your joint venture prospect.
Those are the serious joint venture mistakes you can easily avoid. Only network with the people worth networking with (in small steps), don’t blast out the same e-mail to everyone, and make your affiliate offer based around benefits.