Emergency Cash Tip #16: Enter into a Joint Venture Partnership
If you don’t already have a site and an email list of your own, a joint venture can be one of the best ways to make emergency cash quickly.
When it comes to joint venture partnerships, there are three things to keep in mind:
- Most good JV partners will reject you initially. If a person immediately accepts your JV offer, there’s a good chance that she is not receiving many offers.On the other hand, if she doesn’t respond initially or tells you that she’ll need more time or a better offer, this probably (but doesn’t always) mean that a lot of people are pursuing her as a JV partner.
Why is this important to understand?
Because you will get rejected many times initially when you first begin sending out offers. It is important to understand that partnerships can often be a numbers game; and that you shouldn’t be discouraged too easily.
- Be courteous and make a generous offer.Often, the simple presence of a JV partner will boost your sales and your profile as a marketer far beyond what it will do for you in direct sales from that partner.For this reason, it is always a good idea to approach JV partners with a generous offer; and to be patient, kind, and courteous.
- Stay focused in your presentation.If you’re looking for a JV partner who can drive traffic to your site; and you are willing to offer a profit-sharing arrangement in exchange, then say that upfront.Make sure they understand exactly what it is that you need from them; and exactly what they will get for participating.
If you do these three things—and if you remain persistent—you have a good chance of finding at least a few JV partners who will be willing to work with you and promote your project.