Turning Down Joint Ventures

A Joint Venture (often abbreviated JV) is a legal entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. The venture can be for one specific project only, or a continuing business relationship... -source-

In the last couple of years, I have stopped taking Joint Ventures seriously. It seems that the majority of them are nothing more than an Affiliate Program with a fancy name. In fact, I would be more likely to get on board if someone sent me an email with a review copy and the affiliate details... than I would if someone sent me a hyped up JV opportunity that was nothing more than that anyway.

True Joint Ventures are a different story, and take special consideration. These are generally a great route when you are in a position to offer assets, or when you need to combine assets with others in order to see a venture through.

They generally require time and energy, similar to any other type of partnership or group project... not just a few links here and there or a copy & paste of sales copy.

James Brausch hits the nail on the head on his internet business blog in his recent post on this same topic: Joint Ventures, where he starts out by saying:

"The average person in this business has very different values from my own. I value providing a valuable product or service much higher than I value maximizing potential profit. I actually believe that it pays more in the end with that value systemâ€¦ with more repeat sales and a relationship with customers that is based on trust."

He goes on to ask some great questions, in an offer to do a real Joint Venture with his readers, which I thought was a great move in the right direction:

"What kinds of resources do you have to offer? Do any of you have a large customer list? Do any of you have a large set of human resources? Do any of you have a product that you think is just a perfect match for my customers? What would you tradeâ€¦ and for what? That’s what a joint venture is all about. Think wide. Be imaginative. What kinds of assets and resources can you think of that someone might wantâ€¦ and someone else might offer in this industry."

I think what really bites me the most is when someone harrasses you to no end to get you to "JV" with them. And even more so when they act perturbed when you turn them down - or dont reply at all. Who has time to filter through all of those half-thought-out requests anyway? Seriousy... 🙄

If you are planning to put together a Joint Venture proposal, let me give you a few quick tips (that have worked on me in the past, hehe):

Be Personal. Use the person's name that you are contacting, and know something about them and their sites. Make it obvious that you are writing directly to them, about them, and why you chose them.
Be Clear. Make it short and to the point. No rambling on and on and on - nobody is going to read a 3-page email.
Follow Up. A phone call is the most effective follow-up method. Multiple (relentless) email messages are not.
Forget Hype. Call it by the right name. If its an affiliate opportunity, call it that. If it's a JV, list out the proposed details. But whatever you do, forget the fluff and hype - you're approaching a professional!