Joint Ventures and Synergy

Everyone seems to take it for granted these days, but I remember the time before the Internet. Besides providing us with countless sources of entertainment, and information (some credible, some less so) the Internet has brought us one very important thing: opportunity.
The power of the Internet lies in forging relationships between entrepreneurs; relationships that are highly-profitable because there’s synergy between the partners.

What, you ask, is synergy?

The word comes from the Greek, sunergia, and is defined as the interaction of two or more cooperative agents or forces so that their combined effect is greater than the sum of their individual effects. A synonym for synergy, at least in the realm of Internet business, could be the phrase: joint venture.

Just what are joint ventures?

The phrase really describes a relationship–hopefully a mutually advantageous one–between two (or more) parties to undertake a singular economic activity together. Joint ventures are just a combination of your efforts with those of others to reap substantial profits for both.

A joint venture is not a merger, a general partnership, or ongoing business agreement. It’s not you buying someone’s company or them buying yours. It’s not an equity sharing or equity position in anybody’s company. It’s not a private placement.

It is a single-purpose shared business activity, between two or more business concerns. In fact, joint ventures can create massive profits:

* Without a lot of expenditure on your part
* Without a lot of tooling up in terms of equipment, staff, or facilities
* Without taking all the risk/work on your own shoulders

To put it plainly, Joint Ventures are simply:

* the fastest way to make a fortune
* the easiest way to make a fortune
* the safest low risk way to make a fortune
* the best way to create and leverage business relationships that will make you a fortune

Normally, it is common to come across people from different business sectors while conducting your own line of business. You establish rapport with other business people over time and at a particular stage, you can combine your marketing and sales efforts through a contracted, orchestrated and monitored joint venture.

To be truly successful, any joint venture you take on should be well-thought out, and the parameters should be spelled out in a signed contract. The plan of action needs to be monitored, as does the income generated. These are all points to be covered in this ebook.

The fine part of this is that a joint venture is, by its very nature, short-term.

You can try a joint venture for a trial period of few weeks or months. New joint ventures can be refined from this initial effort and any joint venture arrangement you make proceeds only if it works to the advantage of both parties; otherwise, you could terminate the relationship–and we’ll tell you how to do that in the concluding section.

Most Internet marketers function through such joint ventures, however not all of them are as profitable as initially hoped. This is often because there has been insufficient due diligence on the part of prospective JV partners and the ‘match’ was not–to use an old adage–made in heaven.

Even when the partnership has merit, failure often stems from inefficient, ineffective communication between the parties. We’ll address many of the ways to avoid the communication pitfalls in the sections on operating the joint venture.

You can approach different businesses, Web sites, or companies to find suitable alliances. Our staff has compiled a checklist of activities and tools you’ll need to successfully ‘pitch your JV’ to prospective partners.

Always continue to search for the opportunity to join forces with others; workable deals take time to mature and finalize and therefore, you need to identify and enter into joint ventures with more than one partner.

This is also true because as not all alliances are profitable, you need to keep up your efforts to arrive at a truly rewarding joint venture.

Most joint ventures are unique, and the best joint ventures will be created by applying your own imagination and creativity to form the best win/win situation for you and your partners.

The success of any joint ventures is limited by only six things:

1. Your own creativity
2. Your own sense of what’s possible
3. Your pre-programmed limiting beliefs
4. Must be profitable for all involved
5. Must meet legal guidelines
6. Must operate in an ethical manner

Otherwise, the sky is the limit! And, I mean that sincerely. To be honest, the most powerful limitation is purely the result of the combination of your limiting beliefs, and a lack of vision about the unbounded possibilities.

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