Partnership Details

Online Business Partnerships
What is a Partnership?

Online Partnerships have been the secret behind many people's success in the Internet marketing community over the past few years.

Therefore, you could reasonably definite partnership as “The State of Being One Who Shares” and I would like to add “so that all who share benefit”.

Or in a simpler language: Any sharing of skills to complete a task where both people benefit.

The term "partnership” is oftentimes viewed very loosely in Online Business (as opposed to an Offline business partnership). I'm sure you can understand why. In an online business, your start-up costs can be as little as $20. Just purchase a domain and hosting and you're off and running. Starting a business offline can easy cost tens of thousands of dollars (if not much, much more). So, it's clearly easier to jump into a partnership in an online business than in an offline one.

A partnership can be the missing link in your online business.

-- > If you're struggling at each and every step in your business, partner with someone who has "been there and done that". As long as you're bringing something to the table, too, the partnership could easily be a win-win situation for both of you.

-- > If you stink at writing but are great at web design, then partner with a writer. If you hate web design but are a great writer, then partner with a geek!

--> If you're a busy business owner and you don't have the resources to hire help, consider bringing in a skilled partner. You can split the profits in whatever percentages you'd like. It doesn't have to be 50/50. Heck, it doesn't even have to be a full partnership. You can set up an arrangement where the partner does certain tasks each month for 10% of the profits paid monthly. We call that a partnership in that you're both working together and you both benefit.

For instance, I have partnered with my friend, Kelly McCausey on several large projects -- the projects had a lot of tasks to split. We used our resources (our brains, our monetary assets, and our technical assets) to get the job done.

Kelly is a wiz with audio. So, of course, she recorded all of our audios.

I happen to enjoy writing. So, here I am, writing away!

Between the two of us, we can create websites and products that we might not have been able to pull together by ourselves (due to time constraints or skill sets). Each of us brings our own expertise to the table and we keep each other motivated along the way as we go. Not only does this increase our productivity, but it makes work more FUN.

A partnership can be the boost your business needs. Just use common sense as you proceed. Talk about every aspect of your partnership in advance and get everything in writing (preferably a contract). In any JV or partnership, split things fairly, but don’t sweat it or keep tabs. It’s much like a marriage. If you keep a calendar and write down how many times your husband takes out the trash and compare it to how many times you do the dishes… you’re just wasting your time and energy -- and no one wins. Just assume it all comes out in the end and focus your time and energy on the things that matter -- growing your business and having fun doing it.

Nicole Dean welcomes you to visit Easy Partnerships where you’ll learn how to team up with your peers to profit -- and avoid the pitfalls along the way.

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