Joint ventures are an excellent way to build or expand your online business. Even if you are just starting out online, think about the people you would like to connect with in the future.
One of the things to think about is what you will bring to table in your JV partnership. New people online tend to want others to do a mailing for them, whereas those who have even a small amount of experience see the benefit in partnering with someone. It is never too soon to get started with this method of building your online business.
Look for someone who is complimentary to you. This means to look for a partner who has skills that will compliment those you have. For example, I love marketing to people on the internet, so I look for joint venture partners who do not like the marketing. This way we each feel like we are getting something special from the relationship and the success level is almost guaranteed to be higher.
Make sure you decide in advance what each person will do. This will help with hurt feelings and misunderstandings later on. Most JV’s on the internet are done through emails and phone conversations, so you do not have the benefit of sitting across the table from the person you will be doing business with. By getting everything in writing from the very beginning it will go much more smoothly.
I have now had two partners that have both worked out extremely well. We each complimented the other’s strengths, and had fun while we were making money. Our joint venture projects are still for sale online and we continue to make money and think of new ways to work together in the future. The internet and working from home may be lonely at times, but with JV’s you always have someone to connect with.