Today I’m going to discuss with you the key to joint ventures. I’ve had a lot of experience over the last year dealing with joint ventures and I’ve probably made more mistakes than anybody else when it comes to joint venturing, I’ve messed a lot of these up. But through trial and error I’ve kind of figured out the real world view of joint ventures, the stuff that I don’t hear other people talking about, and I’m going to give you some really practical applications. Typically everybody teaches the worst way to do joint ventures, so I’m going to teach you four more important and positive strategies for getting joint ventures to work, and you’re going to notice here that there aren’t some magic solutions, there’s a little bit of upfront work before you take it into account, but it’s worth it.

Why? Because joint ventures are the simplest and best way to get traffic. Typically, all things being equal, joint venture traffic converts higher than every other traffic especially if you pick the right joint venture partners. And it’s fast and you only pay in advertising costs a percentage of sales, so you only pay out of profit, you don’t risk anything. That’s why joint ventures are absolutely the best. A key focus for anybody who really wants to do well in internet marketing should be joint ventures.

For example, let me show you this. I met Steven Schwartzman in Austin, he’s a really cool guy I like him a lot, a good friend of mine now, and I met him at a seminar. He promoted my time management product to his list and the thing about this is, Steven doesn’t have a very big list - I think he has a couple of hundred people on his list - and the upfront sales weren’t that great, I think we sold 4 or 6 products, so it only made me about $80 or $90 on the joint venture itself.

However that’s not a problem because a person on his list was actually somebody that Steven writes copy for - Roger. And so Roger purchased my time management product through Steven and then Roger liked it. So then he promoted it to his list and somebody on his list was Martin Messier, so Martin Messier purchased it. So then Martin loved it so much that he emailed me, he was like “Jason can you give me a discount if I purchase everything you have?” I’m like, “I think that could be arranged Martin”. So Martin then went out and bought everything including a very high end coaching program for my copywriting class and so that’s a high ticket item that Martin bought from me.

Then in that class I discovered some really cool stuff that Martin was doing and I made an offer to do a joint venture with him on that and actually do a fifty-fifty business equity split where we create the communications and we create the product together and we split all the profits fifty-fifty, and that niche is probably going to be more lucrative than my business in the internet marketing niche.

So that one connection with Steven has the potential to make me over six figures, and probably over seven figures, over the next couple of years. And in real world numbers it’s made me at least $3000 in actual profits just knowing Steven, he’s a cool guy, and now I recommend people hire him for copywriting because of this joint venture. But it all started because I met Steven personally in Austin, then I hung out with him again in Philadelphia and he’s a real cool guy. So then that’s how this joint venture came about.

So the power of joint ventures here is that they snowball - he promotes it to somebody, that gets somebody on my list, they then promote it to somebody else who gets on my list, they then buy a lot of my products and then I talk to them personally because they’re a good client of mine and then I work with them on a business because he had a lot of good opportunities set up that I liked. That’s the power of joint ventures.

The Art of Joint Ventures - Create a Personal Relationship First

Now here’s the art of joint ventures (and it’s an art more than a science).