ClickBank’s Beau Blackwell on Joint Ventures

Beau Blackwell, right, speaks with an audience memeber at Affiliate Summit West 2012 in Las Vegas.

Beau Blackwell, right, speaks with an audience memeber at Affiliate Summit West 2012 in Las Vegas.

Beau Blackwell, Client Knowledge Guru at ClickBank, presented the benefits of using Joint Ventures at Affiliate Summit West 2012 in Las Vegas.

“Joint Ventures can be a shortcut to success because you don’t have to be the expert,” said Blackwell to group of affiliates/publishers attending the event.

Joint Ventures involve a partnership between affiliates or vendors with others in which typically a revenue sharing contract is established.

“At ClickBank some of the most successful Joint Ventures we see involve a subject matter expert and the marketer who will drive leads and sales,” said Blackwell. “A good kind of JV is where the affiliates know each other and are familiar with each others messages.”

Blackwell covered a variety of topics related to Joint Ventures and offered a lot of useful tips and information. Here is an overview from the session “Partnering for Profits – Joint Ventures Uncovered!”

Why Joint Ventures?

  • Joint Ventures help you prevent the ‘Lone Wolf Syndrome’
  • A lot of people miss chances to work with others
  • Having partners will give you a wider reach and new strategies
  • JVs can provide additional expertise

Blackwell also noted that Joint Ventures can provide the benefit of shared risk.

“People don’t diversify their income streams as wide as they should. If those dry up, it can kill a business,” said Blackwell. “Working with a partner can protect you if anything goes wrong with your business.”

Types of Joint Ventures

  • Classic
  • Full Partnership
  • Multi-Partner Business
  • JV Brokering

How to find JV opportunities?

  • Online: JVNotifyPro, Forums (warrior forum, wickedfire, nichechoppers, etc…)
  • Face to face: Mastermind Groups, Events, Meetup groups
  • Referrals
  • Social Media/Facebook

Blackwell recommends finding places where you are going to meet people that are open to opportunity and share goals.

“Tell people in your network you’re interested in forming a partnership,” he said. “On Facebook I find a lot more people willing to be helpful and who are looking for like-minded partners”

Preparation

  • Think about what are your goals, specifically (e.g. new niches, more revenue, more passive income, long-term?)
  • Think about what you don’t want?
  • Create a resume and communicate what you will bring to potential partners (e.g. skills, past successes record, elevator speech to describe who you are, what you can do)
  • Think about what you want to get out of it
  • Imagine a dream partnership and consider what it looks like, how it operates, and the timeframe
Identify Potential Partners
  • Look at current contacts and who they may know
  • People with complimentary skills are good potential partners
  • Look for people around your level
  • Consider working with people who may be newer but are also ambitious and will work hard

Developing Partnerships

  • Don’t bombard people with requests, develop rapport first
  • Do your homework on someone and look for opportunities to help someone first
  • When making your case to a potential partner always lead with what’s in it for them
  • Be open to negotiation in order to make the partnership work
  • Be honest with them up front about what you have done and what you can bring

Effectively Manage JVs

  • Start small on a trial project. If things go smoothly then you can look at doing something more formal
  • Get specific when writing contract
  • Lay out roles, responsibilities
  • Plan for common scenarios
  • Use reliable tracking tools

Click here to read more on ClickBank Joint Venture.

About the Author: Miles Baker

Miles Baker is a 15 year ClickBank marketing veteran and has been recognized as one of ClickBank's Top 100 Affiliates and Vendors. He is the creator and owner of ClickScoop. Learn more about Miles and connect with him at AboutMilesBaker.com.
Leave a comment...