Lions, Tigers, and Partners – Oh My!

partnersWhat’s the fastest way to send high quality visitors and buyers to your website for little or no cost? 

Joint ventures.

Even better is a joint venture partner who already has a targeted list of people interested in what you’re offering.

But doing a promotion out to their list is only the beginniing of how you can team up with others in your market.

You can run list building promotions.  You can create products together.  You can set up membership sites together.  You can even design a business based on a partnership between two people with skillsets which support each other.

In the 14+ years I’ve been doing business online (wow – I sound old now), I’ve partnered with a lot of people on different projects.

Most of these have been wonderful experiences with only a few poor results throughout the whole process.

Yet every day I hear someone talking about just how bad their partnership went and how many things went wrong.

For quite a while I wondered why, but I decided to dig into how I’ve chosen my partners on major projects.

The biggest element is proven reliability and trust. 

You’ve probably noticed I partner with Glenn Livingston more now  than just about anyone else.   That’s because I’ve gotten to know him over a few years and trust him enough I’d have no problem giving him the keys to my house. 

I trust him.  So if he wants to partner on a project, I’m there with him.  And I’m open to however he wants to do it, because I know his goal is a completely fair deal…or even more than fair.

What about someone I’ve just met?  In general I don’t get past the promotional stage for each other UNTIL we develop some higher level of trust.

I check out their offer.  I go through it.  Then I do the promotion and see how it works out…and how they treat any customers they get from me.  And yes, I’m specifically watching to see if anyone comes back to our support because they weren’t happy about how they were treated by them. 

We need to get past this first level of relationship before I’ll move to the next.

What about contracts?  Any of the long-term deals I’ve done we do put SOMETHING in writing.  Nothing long-term is done just because of a discussion over the phone because people forget.  And I’m one of those people who would forget so it’s for my benefit as much as the next person.

Writing everything down that’s involved especially who is responsible for what is a key element to making sure things go well.  Otherwise something will get left out.

But remember this…your ironclad contract won’t protect you if they decide to screw you on the deal. 

If they’re untrustworthy a piece of paper won’t make them honest.  It could even be worse because it will give you false security in the deal.

Also I always recommend a plan B.  Because even if the partner is fully honest, what is something happens to them?  What if they get injured or go through a family problem that distracts them?  What’s the plan then?

This is why in any long-term business you eventually want to make sure everything is documented and systematized.  It needs to be able to run without either of you to be an effective lifestyle business over the long run.

Life gets in the way.  And with two or more people involved, that’s even more opportunity for lives to get in the way.

With everthing that could potentially go wrong, why partner at all?

Simple.  You’re not talented at everything.  Sure, you could outsource other elements that don’t fit your skills, but if you want the absolute best production…a partner will have skin in the game.  They give the most effort when they reap the rewards.

You can then focus on whatever you do best.   Instead of just adding to each other, you multiply each other’s abilities.

You’ll reach your goals much quicker…as long as you watch out for the pitfalls.

If you want to learn how you can use interviews to build long-term relationships, make new products quicker, and make more money online, check out the interviewing method here…

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About The Author

Terry Dean

Terry Dean has been in full-time internet business since 1996 and has helped thousands of entrepreneurs get started online through his articles and products. He lives in Ocala, Florida with his wife and 2 dogs. Find out more about how the Monthly Mentor Club can help you today.