I've seen the term "JV" lots on this forum but I'm not exactly sure what that term even means. It sounds like JVs are used to help promote your product but please give me a more detailed description of how JVs work and what they are precisely used for. -thanks!
JV's (Joint ventures) - A joint venture is a legal entity formed between two or more parties to undertake an economic activity together. It is a term more restricted to the US and the 'new' countries on the world map such as India and China. The JV parties agree to create, for a finite time, a new entity and new assets by contributing equity. They then share in the revenues, expenses, and assets and "control" of the enterprise. Al.
So JVs seem to be a popular topic around Clickbank...how do most people get in touch with other people who are interested in creating a joint venture? Just use forums or is this more of a complicated process with lawyers, lots of papers and signing documents and stuff?
It's basically a buzz word for working together in some capacity be it 50/50 or less/more. Here is how easy a JV can be: "Hey John, I have an idea for product x, wanna do it together?" "Sure Rob, I have lists and some design skills plus my copy is pretty responsive lately" "Great, I have lists too, and am getting quick with product creation. Plus I have some affiliates from my other stuff as you do I'm sure" "Yep.... . . launch date/planning. .. ... . R&D. ... .. ... Recruit. .. ..... Monetize launch/backend, share reward/risk/fail. . . .... Repeat. Nowadays everyone uses the term lightly to describe recruiting for top level aff's (to be basic about it, that's all it is, you're a JV partner, but really you're just another affiliate, you might get a bonus or rep for most sales/top 10/whatever), but that's not the true nature of a JV. Anyway, it comes to trusting your gut, and partnering with people that know their shit and won't let you down. Partner with those that have something to lose and know how to commit (even in their personal lives with partners/family/friends). At the end of the day the money goes somewhere, and must be split, if you get that far you better know that you can trust them and vice versa. Legal docs only go so far, just trust your gut as a virtual handshake via phone after some filtering is all I need most days to tell if someone is genuine, though I've been off/screwed before pretty hard too so be careful who you jump into bed with and how deep you go .
Thanks that explains it very well! I assumed creating a JV was something along those lines I just wasn't sure how intense people went about the whole process.
Usually people that do online JVs already have an established relationship, so it's pretty easy for them -- simply to announce a new product launch. I've seen dozens of the top vendors in Clickbank announcing each other's products for ages (that only means that there is some kind of solid relationship between them) The hard part is when you're just starting off and don't have any reputation or contacts, it's pretty hard to eat a piece of the cake since you can't be trusted. Al.
makes sense...I guess building this type of relationship can be the difference between success and failure for new ventures regardless of the product/website quality.
Would like to addon, that the majority of "JV's" are ones between friends that simply want to work together. Usually blind JV's when you are teaming up with a completely random member of the forum often don't end well.
I too have seen a lot on these JV's lately and would like to try one out when im at a stage to but at the moment im just trying to build my list bigger because that's one of the main things i have found is most of the people out there that are willing to to do these JV's have HUGE lists and experience and expect the same in return which just isn't viable for newer marketers.