Jul 29
Structuring a Joint Venture Partnership - 3 Ways to Put One Together
Ok, you contacted a top Guru and you are ready to tell him what you want. The problem is what do you say? How do you set up your plan? Would you like to learn what to do? There are 3 ways that you can structure your JV partnership that will help you get the best out of the experience. Let's get started with your plan. Here is the first way to structure a JV partnership: You must think in terms of what commission do you want to give your partner. As a rule of thumb you don't want to be stingy. You want to commit to a partnership so give them the bulk of the commissions - up to 75% to 90%. This will give them the incentive to want to join in on a partnership with you. Here is the second way to structure your JV partnership: You want to establish what marketing and promotion part you will be getting from your JV partner. You can ask for a one time mailing to his or her list or you can create a long-term plan where they will promote your product on an ongoing basis. This should be established up-front so that everyone is clear on the direction that your partnership will go. Here is the third and final way to structure your JV partnership: This one is the heart of your partnership and that is the deal or contract that you want to set up. This can be done in many ways for example: If you have created a product than you can give them a sample and ask them for a testimonial to send to their list. Another example: if you are providing some kind of service you can offer them your service for free in exchange for them marketing and promoting your service. Last example: If your own a membership website you can offer them a set number of monthly or annual memberships or split the fee in half for their marketing and promotion efforts. So there you have it, you want to think about what commissions that you want to pay, what marketing and promotion that you want to receive and what will the actual agreement that you will want to have in place to make this partnership work. Once you have established these structures you will be well on your way to a successful joint venture partnership.If you are looking for additional ways to learn how to set up a Joint Venture Partnership, download a free marketing library at [http://www.michaelleesmarketing.com]Michael Lees Marketing. Article Source: [http://EzineArticles.com/?Structuring-a-Joint-Venture-Partnership---3-Ways-to...] Structuring a Joint Venture Partnership - 3 Ways to Put One Together
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