Joint ventures are used regularly in the world of online business. They are a fantastic way to increase your revenue and build your internet business at the same time. Even if you are new online, you will want to start thinking about how you will pursue joint venture partners.
If both people have similar sized lists, you will start out more equal. If one person has a much larger list, you will need to decide how you will share the names. You may end up deciding to keep the names in a separate autoresponder, to be used later only as agreed upon.
To avoid hurt feelings and misunderstandings, put everything into writing. If your project continues for weeks or even months, you both are more likely to forget exactly what you agreed upon in the first place.
Another decision relates to who will accept the money and how it will be disbursed. You will want to keep some of the money in reserves, in case you have some unforseen expenses or refunds.
The most important part of the venture is to decide who will do what. Look at your strengths to see how to best utilize each person’s talents and skills. A joint venture can work out quite nicely if done correctly. Learn from others who are already doing this to see what steps you should take to make the most of this type of arrangement.