Joint Ventures any Thoughts or Experiences.
Joint ventures can be an opportunity to create some extra business, by combining the resources and expertise of other businesses or folks that have an interest or passion in our niches.
There can be some real positives, from the looks, it is really interesting and to be honest, it is something that never really crossed my radar, like somethings online opportunities can arrive out of the blue without even searching for them.
How many times do we just stumble across things on our journey's?
Six months ago I wouldn't have been interested, so it is interesting to see how we can change and evolve as we travel along.
How it is evolving is that someone is going to do the content creation, someone is going to look after the technical side of things create the website etc and someone is going to handle the social media side of things.
Even before you start you have increased your productivity, and you have developed a team in one swoop, brought together knowledge resources and assets.
Like all opportunities, there are positives and negatives, like all partnerships it can be about working out who does what and who is responsible for what, how it will devolve if outcomes are not meet, and how residual income is shared.......... one of the good things is that online we don't have to live in the same proximity, so there is potential indeed.
Kind of like a good book it has a beginning a middle and an end.
I can see some real potential in this process, and that quote pops to mind.
" We can have a big bit of a little pie or a small bit of a big pie ".
Utilizing the strengths of others, forming and building relationships can be another way to increase our footprints and possibly create some new spaces online for us to populate.
Early days, but just thought that I would share some thoughts and I am curious to see if anyone else has done online joint ventures or are contemplating creating a joint venture at some point in time.
Definitely not a replacement of anything, but definitely a way to perhaps increase that online presence and to extend our reach and in the process develop some new skills.
Thanks for reading any input would be gratefully received, both the good and bad.
Recent Comments
40
Hi Jane, glad that you liked it, just looking at some possibilities and I am curious to see if anybody here has had some experience. Sometimes ideas are the easy thing and it can be good to have folks around that can say when things are not such a good idea. Thank you for stopping by.
That can be true indeed, as long as someone is the pied piper al should be good. That is such a valid point even in the online world folks have different ideas especially when it comes to marketing so getting folks to sing in tune will take some work.
JVs are always good to have provided they are reciprocal, in my experience the ones I have had previously, have always been weighted in favour of the other side, why that is I don't know
But generally yes they are good
Hi, Dave thank you for sharing your experience, in the offline world I have been involved in some joint ventures some have gone well and some have been spectacular fails, for one reason or another.
Creating that balance can take work, creating online is definitely a new area, for me anyway, really interested in any feedback, so thank you for sharing, you are probably too kind, hearted, there Dave.
hmm Alex interesting thought there, I suppose when you join up with Amazon or Google then technically it is a joint venture, but yeah, have not tried that with someone yet but will keep an open mind ..thanks for the thought
Hi, Gus that is such a good way to look at it we are indeed entering into a joint venture to a degree slightly skewed to one side. It is at this stage just a thought and something to be planned, looking at it there is potential, thanks for sharing your thoughts, much appreciated.
Hi Alex, Great post and I find it interesting. With skype, no need really for people to even have to be on the same continent and still work together. Division of labor, expenses, etc may be a bit of a struggle but sounds like getting a good group together could lead to success. Keep us updated, please.
Walking the Path of Peace,
Sanders
Hi Sanders, good to see you, that is a very good point you make we are all so connected with technology that there are not that many barriers.
I am curious to see if any folks have had a crack at it, The key seems to be getting like-minded individuals, that are on the same page and are all heading in the same direction.
Will definitely keep you posted, thank you for stopping by.
I like what you are expressing Saliman, in most of our endeavors we arrive with the sense of optimism, it can pay to have a measured approach for sure. thank you for stopping by much appreciated.
I was invited to partnering up here a couple of times, sharing comments giving feedback etc. but it all went bleeding to death after a couple of weeks.
Hi Loes thanks for sharing, I to have observed such things, they do not seem to have been long lasted. it can be about getting everyone on the same page, that can be the issue what seems like a good idea at the time can be hard in practice.
Thank you for your interesting and thought-provoking blog post-Alex.
I think partnerships are something that you have to be very careful of, I've never actually had a business partnership in writing, but I did have someone that I worked with and together on a regular basis. There are good and bad points, first of all, you have to be very careful who you enter into a partnership with and secondly, you can lose some of your freedom when you have a business partner.
The particular business I had at the time involved working outside so if the weather was wet I would normally do some web stuff or whatever. However, my business partner would want to hang around and wait to see if the rain would stop, which stopped me from doing things and was totally frustrating!
I have a Webmaster that I work with online and I have been working with him for the past eight years, we have no real partnership, we do things together and I hope to do more with him in the future as he has much more technical knowledge than I do and he is a great help.
So to conclude, I would be extremely careful about having a partnership. Incidentally, I remember meeting someone a few years ago and he had his office in an outbuilding and he had a WebCam on permanently. I asked why he had a WebCam on and he said it was an accountability camera for him and his business partner! I have to say but I thought this was an excellent idea!
Anyway just a few thoughts.
Roy
Hi, Roy thanks so much for sharing your thoughts, and thoughtful response.
Many times in business we can come together in an association which can bring mutual benefits. Moving towards forming online partnerships definitely lifts expectations, so very good advice slowly, slowly thank you, Roy.
Thank you, Alex, for taking the time to reply.
I hear what you're saying 100% something like this could be fantastic but I believe this is something we have to take extreme care with.
Roy
See more comments
I believe Joint ventures when well planned and thought out are a good thing.
One of the biggest problems I found was finding people with an active list about the same size as mine.
I was offered but rejected a part of someone's list as theirs was much larger than mine. The problem with this is you don't know if any of the ones you are getting are active at all.
Since I have changed direction completely my lists are not interested in my new ideas and so I am starting again from scratch.
Derek
Hi, Derek thank you for joining in the conversation, much appreciated, from what you have said I assume that you were exchanging email lists that is a unique approach.
One of the things is that we are continually changing thank you for sharing Derek.
I was doing Ad exchanges and also JV events. My list was never large enough to follow it through though.
Derek