Forming JV partnerships is a great way to make up for gaining resources you don’t have on your own. By joining with one or more people who have things you don’t have and offering them things they don’t have, you can grow your business bigger, better, faster.
Via Affiliate Sales
You can JV with others to share affiliate sales. So, for example, using software like JVZoo.com or an extension to aMember.com you can start a sale where partners get half of the sales immediately. This is a great way to boost sales for any type of bundle product or shared creation. If everyone involved promotes to their lists, groups, and audience, everyone will make more money.
Through Joint Education
Because of the fact that everyone you JV with should have complementary skills but not always the same skills, you can share knowledge in a way that will help you boost your business growth in exceptional ways. For example, if one of you is technically minded and one has ideas, that will work out amazingly.
By Sharing Audiences
When you join forces with someone who also has an audience and you both give each other access to your own audience, both of you can build your audiences bigger. Don’t worry; it doesn’t divide anything because you are offering complementary products. So instead of buying less, they usually will buy more.
Combining Years of Experience
If you each have five years of experience with an audience and share that experience with each other, you gain ten years of combined experience. That is a very valuable resource that helps you avoid mistakes and grow your business faster and smarter.
Creating a New Product Together
If you both use your skills to create a brand-new product together, this is an amazing way to boost income and grow your reach. The new product will be of interest to your audiences but also to new people that you might not have attracted without your joint effort.
Developing New Content Together
The content you create now that you have more input is going to also become more effective and reach more people. This is going to generate a lot of buzz and excitement depending on who and how many joint venture partners you work with.
Teaching the Other Audience
You can also do things like switch audiences for a day. For example, you can appear on your JV partner’s webinar and teach their audience something you know, promoting your signature product and vice versa. That’s a very short-term venture that many people do all the time.
Sharing Email Lists
If you want to work with each other simply on email newsletters, that’s an amazing way to share JV too. For example, you could each take over the other’s newsletter once a week. Or write the email and include the right affiliate link and send that out to your list a certain number of times.
Sharing Blog Content
Syndicate each other’s blog content to your own blogs. There are plugins like WP Syndicate that you can get, which will pull someone’s content (with permission) into your blog. If you both do this, your content will get viewed that much more often.
Bouncing Ideas Off Each Other
Just the ability to have someone who reaches your same audience with complementary products and services is a wonderful way to learn more by bouncing ideas off each other. Talking about your ideas in a safe environment can make your new offers even more exciting.
Growing your business with JV partnerships is a great way to keep your business as your own business without having to form an entirely new entity. You can do this with one or more people who serve your audience or lookalike audiences whenever you want to expand your reach. You can do it with product creators or influencers and it will grow your business.