What Is A Joint Venture
We hear people saying, “I need to get into a joint venture!” When asked what it is exactly they expect from a joint venture, they say something like, “I have a great product and I am looking for a Guru to promote it.” This shows that most people have no clue what a joint venture is.
What is a joint venture
A joint venture or JV is a partnership where two or more people join together to help each other towards achieving a common goal. It is the combination of talents and resources that will make things work and the profits or risks are shared equally or as agreed upon.
This type of marketing helps leverage the assets and resources of both partners to be beneficial to both of them. Both will promote a common product or service or each other’s products or services, to their customers.
Joint ventures are successful if the group of people both partners are targeting belongs to the same niche.
Joint venture contract
Joint ventures require a written contract to be signed by both parties, to avoid any problems. Both the partners need to plan what exactly they are going to do and why they are joining forces. This will be included in the contract, so that one cannot say, “this is not what we agreed upon,” at a later stage.
All this is fine and needs to be done after a JV partner is found. But how does one find a partner.
Tomorow i will tell how to profit online from joint venture.
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