Joint Ventures are perhaps the most lucrative marketing technique ever invented but at the same time it is also the most misunderstood

The reason being -- those with the knowledge keep it to themselves -- for good, if not selfish, reasons.

In its simplest terms -- Joint Venturing means businesspeople partnering up to create a win/win situation for all the parties involved.

Everyone should be utilizing the power of JV's to grow their business. It would be crazy for anyone -- once they know about the power of joint ventures, to turn down the opportunity to use someone else's money, marketing muscle, credibility, products, etc. to create money out of thin air.

A good Joint Venture is the literal shortcut to success. It can mean millions of dollars in a short amount of time, it can mean bringing your product to market without spending a cent of your own money, it can mean free rent, free media attention, more sales, more free time and more of everything good.

Who would turn that down?

And it can also produce a lifetime of lucrative partnerships.

Many of our "one time" joint ventures have led to us working together on tons of projects with our partners and we will continue to do so for many years to come.

This will bring in a fantastic amount of revenue for all of us.

What if you had ten or 20 partners like that? Wouldn't you be able to live the life of your dreams just by cooperating with your partners and making money for each other whenever you want to?

Of course, Joint Venturing can be tricky. But...if you follow these simple rules, you can be on your way to carving your empire out of thin air:

1. Be SELECTIVE In The JV Deals You Participate In

Being selective is extremely important. You can and will get many offers to participate in Joint Ventures as your business grows.

But, you must always remember - on the internet, your credibility is everything. We get over 50 JV offers a week and many of them appear very attractive.

But I do not have the time to use all of these products and services to determine if they would be profitable for my customers. So if I recommended everything just because it has the potential to put some money in my pocket -- what does that do for me? Nothing except make me some money. That doesn't sound so bad right? But what if that product or service is a dud? What if it stinks? What if it contains bad or misleading information? What if it costs my audience money? Then what have I lost? Their respect.

And that is key! You must have them trust your word.

When your customers know that you wont prostitute yourself for a buck, you are virtually assured of their loyalty and continued support of you for many, many years to come. So that is why I insist on all my JV's being top notch and extremely high caliber.

2. Try to go after products and services that your audience would be interested in and offer the owners a JV deal.

So how do you identify a Joint Venture worthy of pursuing?

First off this is assuming you sell something already and have a list of customers and you already know what they want to buy (simply because they have already bought a similar product or service from you already).

Find a great product or service that would really help your customers. Ideally it would be something you already use or have read or consumed in some way. That way you will know the quality of it (remember you want to only recommend the best quality products and services to your list of customers and others). If you really like something, approach the company and ask them if they would be interested in letting you sell it to your list for a split of the profits. Most companies will happily do so. Some may require a little bit of time and effort to educate them on the potential of your offer.

Many times, the JV partner will approach you with an offer.

If it sounds intriguing and you think it would sell well to your list, ask for a review or sample of the product. This way you will know if it is (Say it with me) high quality! Then you can work out the money details and you are off and running.

3. Always Test Your Offers Before Approaching Other Partners

One of the biggest mistakes I see being made by people just getting into Joint Venturing, especially online, is they will not test their own offer before they approach JV partners.

HUGE Mistake!! You have got to make sure you have a winner: product, sales copy, follow-up process, technology. All the elements must work together and they must produce real, quantifiable results that you can show to potential JV partners before they will do a deal with you.

If you don't test your process first, and you get a JV partner who endorses your product/service and makes no money (or little money) you can forget about the future relationship that you may have built. And one JV often springs into another and another (through word of mouth) so don't blow your chances for the big leagues before you even get out of the dugout.

4. Give Up The Goods To Get More Of What You Want.

How much SHOULD you be ready and willing to give up to make a JV deal fly?

The quick answer: whatever it will take to close the deal and whatever you are comfortable and able to give up (and still walk away with a nice profit) that is what you should give up.

You should look at it this way: you might never have gotten those customers were it not for your JV partners. So why not give up a chunk of the money to them. I know one marketer who gives up close to 70% of the JV proceeds on almost all of his deals.

Some people think he is crazy. But here's a clue: once you acquire a customer they are your customer for Life! You can send them any marketing offer you want in the future (and you absolutely should be doing that!) and you get to keep every penny of those backend profits.

So, in my opinion - give up whatever you have to in order to make that deal fly but please also consider this:

If you will be doing the fulfillment or the mailing, you must cover your costs BEFORE you pay your partners.

What kinds of products or services make the best JVs?

The best fodder for JVs almost always depends on your list. There are only two ways to know if your customers would be interested in something:

1. Test.

As a good marketer you must always test because this is the way we find out what works, what doesn't work and what can be changed to make it work. If you think a JV product or service would be a good match for your list, send an offer out to a small segment of the list, and determine the response rate. If it is good, then you know you have a winner, then you can roll out to a much larger segment or the entire list and have even better, more predictable results.

2. Ask your customers.

Use surveys to find out what products and services your customers want to buy. Call them up on the phone and find out what nagging problems are driving them bananas! Then locate a solution to their problems in the form of a product or service, offer a JV deal to the product developer or service owner and then schedule some time next week to be making big deposits at the bank.

Profits.CC welcomes your feedback. Click here and voice your opinion about this article at our discussion forum.

Marc Goldman is the co-author of Joint Venture Secrets Revealed. Find out just how easy it is for anyone to earn a ridiculous amount of money even if you don't have enough capital, contacts or marketing muscle to bring your products and services to market and promote them properly.

Their blockbuster course: JV Secrets Revealed has been completely revamped!