1. Co-ownership – this is where you and your joint venture partner are actually partners you build the product, web site, marketing and other aspects related to your company and jointly run. This is a powerful strategy but you have to be very careful who you choose to work with or you will be miserable and not have success. However if you do this right you could have one of the most successful companies in the world. Many companies that you know of today are the result of a joint venture between two or more people.

2. Promotion only – this is an incredibly common form of joint venture in the internet marketing arena. In the promotion only joint venture you are landing dozens perhaps even hundreds or joint venture partners who will promote your product or website on a certain date so you can have a big sales day and completely dominate your industry. When you hear of marketers releasing a product and immediately selling 100K or 1 million or even more this is what they are doing. They have convinced the top marketers to all promote their web site on a certain date which builds up the hype and creates a buying frenzy.

I’ve had successes and failures with both of these joint ventures and I can tell you that they are both incredibly useful. I will say that I have never done a “co-ownership” joint venture without doing a “promotion only” joint venture at the same time. Meaning that when I partner with a joint venture partner and we create something from scratch we also grab other marketers who’s job is just to promote us because we want to leverage them as much as possible so we can have even more success.

Reed Floren runs The Traffic Secret the site which exposes how the guru’s are getting the bulk of their traffic… Go to The Traffic Secret to learn how you can use the same traffic strategy and watch your business skyrocket!

Article Source: http://EzineArticles.com/?expert=Reed_Floren

One effective way to generate business for your new online company is with the use of joint ventures. A joint venture (JV) is a business partnership between two or more parties to expand business for both parties. In an ideal joint venture, the talents of one partner make up for shortcomings in the other, and are beneficial to both companies. For example, if you have a great product but no list to sell to, team up with a partner that has a great list but no product. Of course, you should both be involved in the same niche, but not have products that compete directly with each other.

By using joint ventures, you can quickly build the size of your list as well as your income. Less than 5% of Internet businesses have used joint ventures.

There are several types of joint ventures. Two large businesses may use joint ventures to try and dominate a particular area of the market. They may also combine resources to generate a huge payday for both. For instance, if company A has a new product launch in 2 weeks and company B has a new product launch in 2 months, they might decide to market each others products for their mutual benefit.

Small companies might team up to build their reputations, increase the size of their subscriber list, or generate income. There are many types of joint ventures that you can enter into. In fact, you are only limited by your imagination.

Choose your partners carefully. Make sure your partner has a business mindset, attitude, and moral code similar to yours. Develop written goals for your partnership. Clearly define the responsibilities of each partner in writing. Many joint venture partnerships fail for this reason. Always be open and honest with your business proposals. Do not hype your business with facts that are not true.

With your initial joint ventures, team up with companies that are similar in size to your own. Send out press releases announcing your joint ventures. This publicity may entice larger companies to approach you with joint venture proposals.

Finally, joint ventures can only work if you pursue them. Send out joint venture proposals on a regular basis. Through persistence and hard work, your joint ventures can grow your Internet business nicely.