12 Nov 2009

JV Partners – The Key to Making Money Online

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Blogging, Business, Making Money

jv deals

I realize lately that although I’ve spent a lot of time talking about the principles of innovating and creating new systems for making money online, I haven’t spent enough time teaching you how to actually apply those principles for creating an online business.

Art and skill

Making money online is more of an art than a skill. Actually, scratch that…it’s both.

There’s the artsy side of knowing the nuances of building an online community, and then there’s the skill it requires to create and market a product that sells.

One without the other = #fail

Neither side can function without the other, which is why a lot of people face problems when creating online businesses.

For instance, the new blogger might have a lot of experience and skill in their respective niche, but they are absolutely out of their league when they try to figure out how to launch a product to a hungry community. They don’t understand the art of creating that community, and the mystery of digital marketing seems like rocket science.

Then you have people that are full of ideas, but have no way of pulling them off. These people know that they could change the world if they just had a way to get their message out.

Lastly, and on the opposite end of the spectrum, there are a lot of people that excel at creating online communities, but they have no experience or skill to monetize. These people are amazing connectors, but let’s face it, connecting doesn’t pay well. You’ve got to have a product to sell or else you have no business…period.

The Best of Both Worlds

Enter JV partnering, which in my opinion, is one of the most underused money making tools on the planet. With JV deals, the new marketer with tons of niche experience can team up with the expert marketer to launch a million dollar product.

The mommy blogger can team up with a launch coach in order to create a membership site that makes six figures per year. The expert blogger can interview someone outside of their niche and create a product, without having any experience or expertise in that niche.

JV deals can not 0nly help you combine great ideas and skills, but they can also help you connect with people outside your area of influence. A blogger that teams up with a connector can reach an audience of millions and likewise a connector can team up with a blogger to capitalize on their network and actually make a living doing what they do best.

My JV Strategy

JV deals are one of the key strategies that I use to get more done. I teamed up with Mike CJ to write Beyond Blogging, I’ve teamed up with a variety of bloggers to launch a Game Changer Interview Series, and I’ve got no less than another 3-5 deals being worked on behind the scenes.

JV deals are how I leverage my time and expertise, while still being able to take the time to maintain my solo projects, such as this blog.

If you are worried about sharing revenue, then you’re using the wrong mindset. Think with an abundance mentality rather than a scarcity mentality. There’s power in numbers, and the more viewpoints you can bring to a project, the more well rounded your final product will be.

If you have an excellent product, and your team is composed of rockstars, then you will have no problem making enough money to satisfy your income needs…even if you are sharing revenue.

There’s more than enough cash for everyone, and I’ve learned that by teaming up with experts and rookies alike, I can make more money, get more experience, and reach more people than ever before. So, think about all those ideas you have brewing that you haven’t been able to put into motion.

Think about who you would have to recruit in order to make it happen. Once you’ve got a list to work with, start asking around. You’ll be amazed by the amount of people willing to say yes.

Want to Work Together?

The truth is…many bloggers  love to share their expertise and are just waiting for someone to come to them with an idea and the dedication to pull it off. Speaking of…I’m always in the market for innovators and game changers. If you’ve got an idea brewing and want to talk about pulling it off, let me know.

If that’s not you, but you’d like to learn how to become that guy, then stay tuned for an exciting new course on how to create and launch products with JV partners. In fact, sign up for my newsletter below to get a jump on it.

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  • I'd agree, and thanks for the shout out for our project. I'd just add, although it should be obvious, that you need to choose your JV partners carefully. And I don't mean in terms of niche or location or size of blog. You need to be able to get on well, be honest with each other without someone getting hurt and so on.

    One of the strengths I've found in working with Nathan is that we are so totally different in age, culture and background that it's a positive benefit as between us we can see things from most angles.

    So go for diversity!
  • yeah Mike, it has been fun! JV's are great because it get's me out of my head and allows me to expand my experience and knowledge. Really has been a great experience.
  • The "one man show" is a thing of the past. As an entrepreneur you need to seek out others to work with . As a small business you need to seek out others to work with . If you want to be exponentially better....seek others to work with. It's such a misunderstood concept. In fact businesses should think of their customers as JV opportunities. Anyone can just sell something to someone. However if you can partner with your customers to help them accomplish their goals...well then you've got something greater than just a customer. Approach each customer that way and I bet you look at the relationship differently. I also know it will grow a more dedicated customer. Thanks for the post.
  • Wow Rich, that's a great point. This line of thinking goes beyond what you can provide for your customer, and I think it really echoes how an entrepreneur can stand out amongst their peers/competition. I'm going to use this in crafting my next sales letter.
  • Rich,

    It's really funny how all the themes we seem to all be discussing together keep showing up as blog posts across your blogs :). Kind of awesome actually.
  • I'm an affiliate (now with my own product), so I can only tell that JV works. I've used them for my own products. I've done an ad swaps, and also created a book super fast with 6 expert interview.

    It's true that JV's are a must for any online business.

    Franck
  • Exactly right. JV's are a great way to borrow and share expertise.
  • Nathan,

    Per our first few conversations I'm a huge fan of these online joint ventures. I think you hit the nail on the head with this. If more people went out and acted on the ideas in this post, you'd see alot more people making money online. Let me know when you are ready to discuss that product launch idea I mentioned to you.
  • Bloggers like me in their rookie season need to position themselves for these types of opportunities. This is the online business model of tomorrow. Combining talents and sharing the workload of product launches can create a lot of market leverage.
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