O.K. Let's call it a day with science.
Now, we're going to demonstrate the elements of Joint-Venturing and how it works.
And, of course, what's in it for you.
First of all, Joint-Venturing is a profit accumulating method. It is probably the best way to make money because you can literally earn a pretty high income NOT HAVING ANY PRODUCTS OF YOUR OWN.
On the other hand, you may have your own or sourced product but you haven't got traffic and not enough customers so, you get in a joint venture with somebody who has customer database and traffic. Then you may run your business selling to other people's customers. So, this way both of you have income to split between each other. And the joint venture means you're putting relatively less work on your part while speeding up the whole process of generating income. Of course, if you are the party having the product
you'll need to put a bit more work dealing with orders, shipments plus taking care of your website and some advertising.
To conclude, you can use the Joint Venture to:
- make money by offering someone else's product to your customers,
- make money by offering your product to someone else's customers.
To be continued...