Gaining Huge Motivation from Real Disappointment

Today’s post comes out of sheer frustration. Joint ventures just don’t seem to work for me!
Let’s briefly look at my own (abysmal) track record for getting joint ventures up and running.
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Some months ago I set up a JV with a chap and spent about 6 or 7 weeks working SEO on his site in order to get it ranking a bit better for various keyword phrases – about 5 different ones in all. It was a profit share JV – I’d get a percentage of sales from his website. Well, to cut a longer story short, he disappeared and I did not earn a penny from that.
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In the meantime I’ve made some tentative efforts to get other JV’s up and running, but fairly quickly its become obvious that nothing was going to come of any of this, so it was best to just let it be and not spend any more time trying to work on it and “push” it harder.
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There was indeed one potential JV that we had just about kicking off, but unfortunately for me the website in question was partly sold off to some high end investor. End of potential partnership there then!
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I’ve been talking excitedly in my posts on this blog for the past 3 months about another JV that was very much in the works. This one was in the health and fitness field and things were looking really good for a very long term and lucrative partnership.
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In fact, I set up the first site for that particular JV about 3 months ago when we first kicked off with our project. Its ranking top 10 for a couple of keyword phrases I began targeting way back then, but had not been pushing too hard because I was waiting for an eBook to be written up by my business partner. I also had a real nice header graphic designed for it, so my own financial investment in this particular site – including SEO costs, would be a bit over $100 already. $100 – $150.
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So the site – which is only a couple of pages/ posts, is getting some decent visitor count – I don’t mean like hundreds a day, but 10 to 20 uniques each day, which is fine for now because the site is not monetized in any shape or form.
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It was going to be monetized by the eBook, and I was going to use a subscriber opt-in to build up an email list. This would have been perfect, as my business partner was going to try to build her own brand in the health and fitness industry, thus the emails for the subscriber list would be really good stuff!
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But due to the fact I had not heard from my JV partner for the past 3 weeks, I had to email her again to check out what was going on. Lo and behold she’s decided to pull out just when things were going to get good and we were going to see our first income. Oh and ouch!
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This is where I should be going into a raving rant, but no – I gotta focus and I gotta pick up the pieces and move forwards, rather than jump up and down pulling my hair out. Well okay – its about 3am as I write this. I’ll jump up and down for a few minutes (albeit rather quietly so as not to wake the neighbours) and berate the fact that I’m always so unlucky with business ventures. Then I’ll settle down and re-focus and plan for what to do next.
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In fact, its probably wise to take at least part of today off from working online so that I can really get a fresh mind. Fact is that this venture was going to be very long term and was going to be really big too – at least that was what we were planning for. So I’ve got to step back and re-think this. Its really very disappointing!
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But its these larger disappointments that really get me motivated. Its like a kick in the face to begin with, but all it really is, is a further opportunity to make it even better! Almost like the challenge of making this particular project a success has to now be fulfilled at all costs, just to prove to myself (and some others) that I can do it no matter what stands in the way! No matter how many mountains there are to climb, and no matter how high they are, I’ll surely conquer them all!
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If you’ve got something to share with regards your own efforts to joint venture – be that online or offline, then do please leave a comment. In fact, even if you have nothing to share with regards to your own experiences of JVs, do please say what’s on your mind, even if only to commiserate with me icon wink Gaining Huge Motivation from Real Disappointment
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Thanks for reading!
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21 thoughts on “Gaining Huge Motivation from Real Disappointment”

  1. Wow, I had a very similar situation as your first JV story – someone contacted me asking me to provide mentoring in exchange for a portion of future earnings and yup, just as things started going good for him, he decided he wasn’t interested in honoring our agreement. (Maybe it was the same person?!). Anyway, I’m glad you are motivated by the experience. For me, it’s going to make me much more wary about future “partnerships”… :(

  2. Seems to me Michelle that this is the norm. I suspect folks that are not familiar with internet marketing and the workings of SEO are expecting fairly fast returns on investment, when most often that’s never going to be the case.

    I suppose I’ve been a bit naive up till now in believing and trusting in folks, and presuming that they realize what they are taking on when working with me in a JV. Another learning experience.

    But at the same time, I’m very uncomfortable when folks come to me and ask for coaching or ask me to SEO for their sites and then ask me to quote them a price. And that is when often-times I’ll ask them if they want to JV instead, otherwise we are both missing out on a potentially fruitful partnership.

    My mate said to me some time back that if I was a crook at heart I’d be a millionaire by now. He’s got a good point there! Not to say that everyone who works SEO is crooked of course, but there are a lot of “companies” out there that have little idea what they are doing, and yet they charge very high prices.

    I saw in your recent blog comment that you too have turned down the opportunity to do some coaching. I struggle to turn these opportunities down, but at the end of it all, I’d much prefer to keep within my comfort zone – which is making money by working my own sites. And from now on, no approaches for JV’s are going to be entertained either! :-(

  3. Hi Joseph,

    One thing I about reading your articles is that you are honest and you aren’t chasing money and cutting corners at every chance! Also, I understand where you are coming from when you speak of business owners wanting results over night. I am currently pounding away writing articles every night from 8pm to 2am. I know success will not come over night, or even within the next month. But I do know if I keep up with my efforts….eventually they will pay off and I will be trading 0-7 instead of 7-0 work day. :-)

    Hang in there, you will get there and reach goals very shortly!

  4. Hi Luke, thanks for your comment!

    I try to be as honest as I can, although on occasion I do wonder to myself about being something of a hypocrite. What I mean by that is, on occasion after writing up a post for this blog I remember something that I may have touched on a few months before and suddenly think “hmmm… is that a little bit hypocritical of me to be saying what I just said, or am I justified in my “actions”?”

    Anyways, I am trying to be very transparent in things that I do because I think its only fair to other people who are also trying to earn money from their online marketing efforts. I know full well how I felt to have just spent $79 on some IM eBook, then spend a couple of months trying to implement the tactics, only to find that quite a lot of the contents of said eBook were unworkable lies – or at least thoroughly embellished “facts” shall we say…

    I think Luke that its pretty much human nature to want fast results and fast gratification. Its the same for me – if I had a choice I would take the fast option every time. But no, internet marketing certainly does not work that way. Its taken me literally years to get to where I am now, and I’ve still a long way to go too, and no doubt I’ll make tons of mistakes in the process, just as I have previously, and just as I have discussed in this particular post.

    I certainly admire your work ethic! I take it that you are working a day job, and then late at night/early in the morning you are pounding away at the old keyboard in an effort to get these articles written? Thoroughly admirable that is! It does get easier though Luke – trust me on that (even though lots of things can and do still go wrong!).

    I have to hang on in here – I have nothing else that I can do, so there is no option for me no matter how fed up I may be with the daily grind of IM. Finding that happy medium can be a real difficulty. I have to admit that this is one part of my current life (even though it seems incredible and lots of fun – living in Malaysia and having the lifestyle that I do) that continually eludes me. However, I’ve got plans that in future I’ll make a point of spending a few months back in Britain each year, and then head on back over to Malaysia and spend much of the rest of the time here. I think that would help in the search for “the happy medium”.

    Cheers Luke and best wishes for your IM business!

    Joseph

  5. Joseph,

    I am not a fan of working with people after the experience I have had…. let me just let you know a couple of them. It might open the eyes of a couple here. Treat them as case studies.

    I was a partial investor in a store when I was still in high school and had maybe around $10,000 vested in it. There were three partners. We had money saved up to move from our bad location to a mall, and one of the partners re-signed the lease behind our backs and so we decided to leave.

    The second was in the music industry. I was also too nice, as you said and had a couple people hanging onto me as I was making my way up the charts. After around three years of this, I wanted to find out if they would do the same for me and had them set up a very small event. One person’s jobs was to simply pass out fliers… he lost them on the train and lied about it. The event was a flop as nothing was ready for it and I had enough.

    Another business venture I invested around $25,000 in with a partner. He seemed normal and was a hard worker. After the business was bought, he started acting insane, screaming at the workers.. customers….. accountant. Messing up orders, hiring drug addicts… this was a very nice establishment and other things that still make me upset. The business shut down within a few months and my money was lost, he also tried to take me to court over his mistakes.

    That’s my take on joint ventures… but we can also have the same conversation about workers. The ones from Phillipines for the most part promise the world but deliver mediocrity.

    That is the business world my friend, just stick it out and it does get better. Not because the problems disappear, but your tolerance and the way you handle them changes.

    I think you should always have a backup plan, especially when doing a joint venture.

  6. Hi Tom, thanks for sharing your JV experiences! Wow – you’ve had some horrors! Obviously my own experiences pale into oblivion when compared with yours. I guess its human nature to “change” and thus as you say, you’ve got to try to be prepared for a different outcome than the one originally set in stone.

    I’m not so perfect either, if truth be known. I’ve very occasionally gotten involved in one or two very small ventures and then a little down the road realized that perhaps it was not such a wise move or that the timing was not so good. But my main issue with this particular one is that it appears to me glaringly obvious that given some diligence and hard work ethic we could be producing ourselves a mini empire. All the ingredients were right for it, its just a case of following through and getting things done. But it seems that my JV partner has their head set on the very, very short term of making money today for slave labouring in return, and that is very short sighted in my opinion, and something of a waste of a real talent (she – not me).

    No worries though – I’ll move onwards and hopefully upwards nevertheless!

    Thanks Tom for sharing!

    Joseph

  7. I agree with your post absolutely and I am now interested in reading some more of your posts on your blog and see what you have to say. Do you mind if I tweet your blog post out to my followers on twitter? I think they would also enjoy the blog post. Thanks.

  8. Hi Chin, thanks for taking the time to leave a comment, and I am happy you agree with me on this matter!

    I certainly do not mind if you tweet this post to your followers – I’d be very grateful, thank you kindly!

    Oddly enough, I had another potential JV just about in the offing and I decided to email the gentleman in question and turn down the opportunity mainly because of what had happened as explained in this post (but also due to past experiences). He very graciously emailed me back and offered entirely different terms so that we can still pursue this “venture” together should I wish to consider doing so. Thoroughly professional attitude, and one that I wish more people had!

    Thanks Chin!

    Regards

    Joseph

  9. Hi PCBR, thanks for your feedback! You’ll certainly not find copied content on this blog – as you can tell, its a blog of passion and inner-most thoughts, so I’d very soon be caught out by my regular readers if I started to post up copied content ;-)

    Regards!
    Joseph

  10. Hey Fernando, how are things progressing your end?

    I’m in four minds as to what to do here with this particular site and with this particular scenario.

    1. I could just let it be. I’ve popped AdSense on it in the meantime but the cpc is so low its hardly even worth while. But just letting it be would free me up to focus on some other stuff – one of which would be to follow-thru with my own SEO eBook, which is going to take a lot of work.

    2. I could pay for someone to write up an eBook, the eBook being the original idea, and then also to write up a set of emails to create a subscriber list and then leave things at that.

    3. I could follow up on point number 2 but also go ahead and try to do what the JV had as its goal – to really push this and create a large brand around the whole concept. This would be a longer term goal obviously, but I’d like to get it in motion all the sooner, if indeed that was the best way to go. (The best way to judge whether to do this would be to focus on point 2 first-off and gain some experience and insight into this particular niche).

    4. Seek out another JV with someone who has the necessary complimentary skills. Hmmm… that one is very much on the back-burner at the moment as I’m a bit “JV shy”.

    The problem with point 2 and particularly point 3 is that this will require quite an investment – both in terms of time and money, and the payback for doing so is not definite, nor is it going to be in the short term either. But needless to say, these two options are the most exciting and surely must be what true entrepreneurial spirit is actually about.

    We’ll see how things pan out – I’m kinda hoping for one of those “a-ha!!” moments.

    Cheers Fernando!

    Joseph

  11. Ouch, sorry to hear it, Joseph. I can only vouch for this offline – but without getting too detailed, it’s what’s pushed me online in the first place (getting burned too often).

    It’s a lonely business, but don’t lose faith – I’m sure you’ll find a suitable partnership (or simply do it yourself and keep all the winnings).

    Best of luck to you.

  12. Hi James – its no major big deal really, apart from the fact that its a bit of a set back for my plans and its bound to be a major setback for my JV partner’s plans. After all, my intended partner is slave labouring for a wage right now, and I know that you have done this too – writing articles for clients on Elance. I did that also for Warrior Forum clients for a few weeks, then I had to pack it in cos it was not ticking enough of my boxes – being chained to the laptop for days on end and stressing that I was not meeting deadlines.

    There are horses for courses and we have to get on with how the cards are dealt, as you said yourself.

    I’m starting to search deeper within my self these days for a contentedness that has been missing. The IM game is so up and down and somewhat frivolous. It seems to me that its all very well making more and more money, but then – what’s next…

    Anyhow, I’ve put together a post for tomorrow about my thoughts on this and I would for sure welcome your feedback on that.

    Best wishes James!

    Joseph

  13. Joseph,

    I am new to the SEO game. I am just getting started with pounding out articles and getting ready to invest in a spinner to be able to throw out more unique content to build backlinks. I use your site to gain insight on strategies.

    Anyway, you obviously know your stuff. I ask you this not to sound insulting or to belittle your efforts or sites but it seems to be that your sites you have put effort have only reached a small niche crowd? Shelby Site, Twilight Site…ect.

    I know you are making money and it is paying for your life….I am not “hating on” what you are doing for lack of terms. What I would challenge you to though is to ask yourself, what needs are you really solving? You know how to reach people via SEO….why not build a site around a business model that solves a true need for customers that will continue to come back…again and again? One a scale that will allow you to not make thousands, but millions?

    Again, not stepping on your feet. Just challenging you to ask yourself the question, what needs are you solving with your sites and what business could you start that would scale and really solve a need on a big scale that could make millions!

    Luke

  14. Hi Luke, thanks for your insightful comment!

    Hmmm… I think you are stepping on my toes, but you are right to do so! Many of my sites I put up a year or more ago and they are somewhat naive attempts to make a little bit of income. I’ve been dumping most of them, and am now setting up a number of new sites that target what potentially could (should) be a far larger market with a much more desperate need than say – Shelby car lovers have.

    However, it takes time to rebuild and its now an ongoing process. Given a few months, all of what I am doing now should be (hopefully) reaping large dividends. But it will take that time to get everything in motion.

    But you are quite right Luke, and I welcome your feedback on this!

    Cheers!

    Joseph

  15. Sorry to hear about that Joseph.
    I’ve been involved in a few joint things a while back, and rarely does it go to plan. In fact, it NEVER went to plan for me.
    I’ve found the best way to do something is to stay in control, and outsource and pay for others’ services rather than share in a JV sort of way. At least thay way the responsibility falls suqarely on my own shoulders, I’m still in control of the project, and it’s easier to pick up the pieces if something doesn’t go to plan.

    In cases like these you just have to pick yourself up, turn disappointment into drive, turn the negatives into positives, and move on.

  16. Hi Ben, thanks for sharing your own experiences regards to JV’s and outsourcing your work.

    I too think along similar lines. But at the same time I would really enjoy far more the ability to work along with other folks in a project that we all contributed towards. Its a lonely old business this internet marketing stuff (I’m sure you would agree) and outsourcing of work is not addressing the issue of loneliness much at all.

    From a business perspective, outsourcing makes entire sense, but from a “life” perspective, the joys of working successfully with others has to take the gold medal.

    Thanks again Ben!

    Regards
    Joseph

  17. It is a lonely old business yes. I guess that’s why it’s important for us IM’ers to stick together, keep talking, and shaing tips, and sharing our experiences in the online world.

    It’s not like other careers where you can go to work and socialise a little while you’re there. There’s no standing by the water cooler grabbing 5 minutes of chat, or going to lunch with your work colleagues after completing a long project you’ve all been working on for weeks.
    It just doesn’t happen in this game.

    One thing that may interest you is that there are various ‘local’ IM groups springing up all over the world (generally in populous areas…so that counts me out as I live in the countryside). The members generally meet once or twice a fortnight ‘offline’ to discuss the industry, to bounce ideas off each other, and generally to socialise with people within IM game.
    Ben.

  18. Hi Ben, yup – a lonely old business indeed! I agree Ben – its good for IMers to share and discuss, but I know for a fact that most of us do not do that, which is a pity. I spent a bit of time on the Warriors yesterday (which is extremely unusual for me!), but it was fun just dipping in and out of threads and offering my own insights.

    Ah, if only – “standing by the water cooler for 5 minutes of chat with your work buddies”. I miss that! If I were back in the UK now, I may even begin to look for a part time j o b simply to have a good mix and maintain sanity. Not that I need a secondary wage, but just to get a bit more social and get a needed break from the computer screen.

    I wish we had a regular bloggers meeting here where I am. I’m a member of the Sarawak Bloggers, but that’s much more about online than off. And almost all events they do advertise are – although held in Malaysia – situated hundreds of miles away in some other city. It would be sensible to try to set up something along the lines you mention, but part of the problem here is that not everyone has that good a grasp of the English language, and I don’t speak any Mandarin or Malaysian.

    Nevertheless, maybe I should organize a bi-weekly event in my own home – with refreshments too, just to encourage attendance that bit more. Or perhaps I should hold training classes for local folks who want to make money online.

    Take care Ben and thanks for sharing!

    Joseph

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