What is a joint venture and what specifically is a MLM Joint Venture? Here are two definitions of “joint venture” that I found online.
“A commercial enterprise undertaken jointly by two or more parties that otherwise retain their distinct identities.”
“A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture (JV), each of the participants is responsible for profits, losses and costs associated with it. However, the venture is its own entity, separate and apart from the participants’ other business interests.”
I like to think of it as the process of working collaboratively with someone else to reach your business goals. Let me give you a few examples of how it could work in network marketing:
• You write an MLM oriented eBook that sells for $29.95 and have someone email it to their list, in exchange for 50% of the revenues
• You sign up as an affiliate for a MLM Lead Company and recommend lead services to your downline and you get a portion of all the sales
• You rent someone else’s email list to promote your offer
• You create a COOP with your downline to buy advertising in a network marketing magazine and you share the leads
• You work with a network marketer in a different company (non-competing) and you share leads with each other
These are just a few examples of MLM Joint Ventures in action. There are many other things you can do, too.
Why should you participate in MLM Joint Ventures? Because you can get better results and make more money. When you team up with other people and work together, both people can benefit. I call this a win-win transaction. Most of the time, it won’t cost you anything out of pocket either, unless you earn money. Personally, it’s one of my favorite ways to promote my websites, to grow my downline and make money online.
What are my secret tips for creating successful MLM Joint Ventures? My best advice is to look for deals where both parties benefit. You don’t want any transaction to be beneficial to only one person. In addition, if you want to form joint ventures, you must make it worth the other person’s time. Don’t be greedy!
The best way to get started with a network marketing joint venture is to connect with other network marketers and see if there are ways you could help each other.
For example, if you are in a weight loss company you could team up with someone in a skin care company. You could each trade leads with each other. You could each refer customers to each other. If people tell you NO to your business, you could give the lead to the other person. It’s really that simple.
In conclusion, a MLM Joint Venture is when two people work together to help each other reach their goals. It’s an effective way to grow your network marketing business, increase the size of your email list and make money online. If you aren’t doing this already, you should!
What are your thoughts? What do you think about MLM Joint Ventures? Leave a comment below to share your thoughts.