Joint Ventures…. depending on your experiences these two words will either fill you with excitement or send a shiver of fear down your spine.
In this post I am going to give my thoughts on Joint Ventures and also I will finally update you on the MAJOR Deanos Den project.
Joint Ventures are one of those things that people in this industry either love or hate. Personally I have always been open to them, but I have also experienced problems with them as well.
So why am I more open to joint ventures? well, if I was to give one piece of advice to anyone in this game it would be this: “Try and look for win/win situations in everything you do”
Win/Win situations are pretty much the foundation of everything I do on the net. I started out doing this internet lark as a hobby and even when it became my fulltime job I was skint at the time, so I am VERY used to launching sites on a budget of ZERO. If you have ever created a site from scratch with no budget then you will probably have had to create a few win/win scenarios in your time as well. I guess this is why I don’t have much experience of PPC advertising.
So if done correctly a joint venture is the ultimate win/win scenario!
There are many obvious pitfalls and dangers of JV partnerships though, and that is something I will post in a future article.
Back to the Deanos den project. I have been mentioning for the past couple of weeks that I had a major update/announcement to make regarding the Deanos Den project, I think it is about time I made a public announcement before the paparazi start going through my rubbish looking for clues
Approx three weeks ago I was contacted by a lurker of a marketing forum where I am a regular poster. This person said “that he was a fan of my blog and he liked my ideas and would like to discuss things further and perhaps do a partnership together on a number of web sites.”
I cannot go into the details of our agreement, but needless to say it is a win/win scenario for both of us and it is a major partnership. The great thing about this deal is that my partners strengths are my weaknesses etc, I can provide the things that he needs and vice versa.
What this does mean is that I have had to pretty much end any projects that I was working on, and the ideas I had for sites, projects, experiments, ebooks etc… will all have to take a back seat.
I am likely to be in this partnership for two to three years minimum, and it is a fulltime gig. I will have a few hours spare from time to time, but that is only due to the fact that I have been known to do 16 hour days.
During the past three weeks I have had many other offers regarding the Deano`s Den project. Some of them were very interesting, some of them very risky, others were very exciting. But I have turned them all down because I need to and WILL be focusing mainly on my new partnership.
So, back to joint ventures…..
Do NOT try joint ventures if:
*You are a control freak
*Cannot work well with other people
*Are not open to criticism
*Are not 100% determined to see it through
*You expect the other person to do the majority of the work.
In my partnership I have been able to bounce ideas back and forth between my partner, he is also a very organised and business minded person. Whereas I am more of a creative looney who’s mind races at 1000mph and jumps from idea to idea. So when looking for a joint venture you should also focus on the personality of the person you are going to work with.
Finally, you MUST get EVERYTHING on paper before you begin! there are always going to be grey areas, and if you are going to give 100% you NEED to be happy with the circumstances.
I would be keen to hear if you have ever done any joint ventures?
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