While joint venture marketing can be a lucrative business move for most any business owner, there are some crucial "dos" and "don’ts" to keep in mind.  Here are some helpful tips to consider before you set out on your joint venture marketing adventure!

Do team up with someone whose business compliments yours. You will want to make sure your joint venture will be complimentary for everyone involved. For example, if you were a painter, you wouldn’t team up with a chef to cross advertise your services. You would be much better suited teaming up with a carpenter or paint brush salesman.  The same logic applies to online marketers.  Team up with others whose work is complimentary to yours.  This is the best way to make the most out of your joint venture by cross-advertising, combining your lists and offering joint services and/or offerings.

Do partner with someone you trust. Not every joint venture marketing team is made up of friends. In fact, it’s not usually a good idea to mix business with pleasure. However, it is extremely important to make sure you are partnering with those you can trust. You must be able to trust your joint venture marketing partners as responsible business people with proven track records.  Do they have a strong customer base and a committed clientele? Is their product or service something you believe in? These are critical questions to ask yourself before attaching your name, your business, and your reputation to a joint venture marketing opportunity.

Don’t take on more than you can handle. Multiple joint venture opportunities may present themselves and may all seem to have equally enticing potential. However, you must be careful not to get mixed up in multiple joint venture marketing agreements. You must remember what is most important, and that is growing your business. If you begin to get involved in too many joint venture opportunities, you will take the chance of losing focus. In addition, you will need to ensure your brand is being managed carefully and properly by all parties involved. Joint venture marketing is very much a give and take relationship and it must be mutually respected. Be sure to give your joint venture marketing relationships the attention they need and deserve by focusing on one at a time.

Don’t assume you share the same goals. Before you start laying out your advertisements and sharing the holy grail of your businesses, (your lists of course!) make sure you have a meeting of the minds where all of your joint venture marketing partners are involved. You will want to lay out your goals, both separately and collectively, and reach an agreement that best suits your upcoming venture. In addition, a contract is not only recommended but necessary to ensure all parties keep up their end of the deal as well as have a clear understanding of what is expected of them. It’s always a good idea to know and understand the goal and how it can best be reached.