I have a great problem today.  I had four or five things that I wanted to blog about, but I only have time for one blog post.

For example, some of you may have heard that my good friend Josh Spaulding, who teaches people how to make money online, has recently released an update to his incredibly popular free five dollar formula e-book.  I'd love to do a review of that, but since it's completely free, I encourage you to get over there and read it yourself.   You'll learn everything you need to know to drive traffic to niche websites and monetize them with Google AdSense.

My second choice for a blog post today (that I decided to pass on) was the topic of  income taxes.  Yuck.   This is the first full year since I started making money online that I have had to do with deal with thousands of transactions.  I am a little frustrated with myself that I didn't keep better records during the year, and I'm trying to do much better for 2009.  I am very interested in understanding the best way to handle tracking all of the different transactions that I complete during a year, and will reserve this topic fora future series of posts.

A Bunch Of Garbage Blog Comments

This morning I woke up and logged on to my blog and found that I had seven comments from new commenters. I'm always pleased to see new comments, because that means people are reading my blog and have something to add.   I try to answer each and every comment on my blog,  because I value both the comment and the time commenters invest contributing to my content.

Imagine my disappointment this morning when I found four of the seven comments were totally garbage just cluttering up my comment inbox.  I get these all the time. They waste my time, your time, and server bandwidth.  I thought you would enjoy seeing them so I've posted them here.

My absolute favorite is the guy who called me a guru using two different names pointing back to two different URLs.

Now I'm sure that at some point some Black Hat Internet Marketer sold some one some very expensive software to go out and find blogs corresponding to particular keywords and then automatically leave comments on this blog. I am sure that this was very appealing to some Internet business person who was looking for something for nothing.

My problem with this is that a completely misses the larger opportunity that comes from making helpful comments on blogs.

Good Comment Outcomes

When you make really thoughtful blog comments that add value to a post,  number of good things can happen to you.  The one that is most often talked about is the situation where you are one of the first commenters on a high-traffic post, and you make a great comment. People will tell you that readers of the post will see your comment, and click through to your blog. This is absolutely true and can provide you some temporary traffic.

Occasionally, you may find yourself commenting on a do-follow blog, that provides do-follow links back to your blog .  (In fact, this blog does this for commenters with more than 9 coments).

This can certainly help you with search engine ranking, but you'll usually find that these posts (the actual permalink where the post appears) have low page rank, at least initially. This means that you should not expect to get a massive amount of link juice from these types of comments.

The Real Value Of Excellent Comments

Both of the outcomes above are absolutely correct.   The problem is people who are focused on these sorts of outcomes miss the real opportunity.  In my opinion the real opportunity of leaving excellent blog comments lies in the relationships that you develop with excellent bloggers.  Once you've developed relationships with other bloggers, what you really have are opportunities for growing your business the through the conversations, friendships, business ideas, joint ventures, and product opportunities that come out of such interactions.

It's an old saying: it's not what you know it's who you know.

I'll give you a couple of examples.  When I first started my blog,I had no clue what I was doing. I searched around Google and started finding examples of bloggers who are successful and reading their work.   Basically I found three that I decided to follow long-term.

Garry Conn is the first eample.   Gary is a top-notch Blogger and one of the busiest guys I know.  When I was first getting started, I commented on Garry's blog asking for advice via a phone call system that he had set up at the time.  Not only did Gary use my phone call as part of his content, but Garry also called me back and we have been working together and trading ideas ever since.  He even designed this very blog theme.  Now, I consider Garry a friend.

Josh Spaulding is another example.  I was so impressed with Josh's e-book Article Marketing Domination eBook and his ethical approach to Internet marketing that I started commenting on his blog.  Now, I am a moderator in Josh's coaching form, and we have worked together on several joint venture projects.  I also consider Josh a friend.

The bottom line is relationships

Really when you get down to it, Internet marketing is not any different than my off-line business of semiconductor microelectronics. Getting things done and being successful is all about relationships.  Relationships with customers, relationships with coworkers, relationships with business partners, and relationships with suppliers.

If you want to be successful Internet marketing, focus on building relationships with people you respect and with customers you value and you can't go wrong.

Have a great day,

Mark

It's Wednesday, and you know what that means. It's time for another weekly Internet Business Fortune Cookie.

Tomorrow is Thanksgiving, and I am actually at my parents home in Houston, TX at this very moment. I have a lot to be thankful for -- so much so that it is hard to make a list. I was thinking about that today and I suddenly realized that I have never had any turkey-based Chinese Food. Why is that?

A quick trip to Google to search for "turkey Chinese food" reveals information about Chinese food in the country of Turkey, but little information about Chinese food containing turkey. Naturally, my next thought was to dominate the "turkey Chinese food" niche, but I don't see any AdSense ads on that page. Guess I'll hold off on that site for the time being.

This week The Cookie has come out on the side of the value of Joint Ventures in Internet Marketing.

Hear The Cookie:

"Take a trip with a friend."

Of course, the fortune cookie is obviously referring to the fact that some of the most successful Internet businesses these days rely on joint ventures. Joint Ventures (or JVs as they are called) are business arrangements where two or more parties get together to deliver a product and share the profits.

Why Do Joint Ventures?

The best reason to do a joint venture is to leverage unique talents of individuals. Let's say you know how to write killer code, but you are not sure what to write. Another guy has a great idea but neither one of you has any marketing savvy. The two of you team up and find a marketing guru with a list of 100,000 hungry buyers. That's a joint venture. You share the profits according to some prearranged split.

The awesome thing about JVs is that you can often achieve something much greater than the sum of the contributions by leveraging each others talents. That can mean more profit all of the participants.

Three Tips For A Successful Joint Venture

Here are three things to keep in mind when doing a JV.

• Communicate clearly.  Everything from financial arrangements to schedule and quality expectations.  Misunderstands and arguments are a leading cause of JV failure and disappointment.
• Know the law.  I am not a lawyer, and I do not play one on TV.  However, I do know that you need to be very careful to understand the difference between a Joint Venture, a partnership and other business arrangements.  If you do it wrong, you could be held liable for goofy stuff that your JV partners do without your permission.  Consult your attorney.
• Be honest and fair.   Treat your JV partners the way you want to be treated.  Expect a long-term business relationship, and behave accordingly.  Care what they think, and listen to what they have to say.

Bottom line as always is listen to the cookie.  A JV can be a great way to jump-start your business.

Have a great day.
Mark

Be sure and check out our previous Internet Business Fortune Cookies.

Photo credit: Uploaded on July 17, 2006 by headcase

Welcome to a page in the MasonWorld Internet Marketing Dictionary.

Want to add to one of the definitions below? Or perhaps something you were looking for was not here? Just leave a comment below. I hope you find this resource useful.

Regards,
Mark

Join a Mastermind Group

Forums like http://www.warriorforum.com occasionally have mastermind groups, where individuals meet to discuss ideas and projects. Join the next available mastermind group; and learn what others who are successful in your niche are doing.

Join Social Networking Sites

Sites like Myspace, Facebook, and Twitter hold a lot of promise for marketers. Not only will they allow you to find other like-minded individuals, but they also allow you to market to them. For this reason, you should consider creating accounts for social networking sites.

JV Partnerships Beget JV Partnerships

If you’re a useful JV partner, the people you work with will tell others. And this will lead to future JV partnerships.

Joint Ventures Can Be Profitable

It’s impossible to over-emphasize the importance of JV partnerships. If you haven’t done one, you should. And if you have done, you should do more.

Joint Ventures Can Drain Your Resources if Done Wrong

While JV partnerships are generally profitable, it’s possible for them to be a drain on your resources if they are planned or executed properly. To prevent this from happening, live by the following two rules: first, only look for JV partners who can bring something to the table that you cannot; and second, communicate clearly and often with your partner throughout the duration of the project.

JV Partnerships Can Lead to Greater Things

Even seemingly insignificant JV partnerships can lead to greater things. So, before you take off in the middle of a seemingly unproductive partnership, consider whether this partnership could lead to a more profitable one in the future.

Joint Venture Partnerships and Snail Mail

High-quality JV partners are often bombarded with JV offer emails. One way you can separate yourself from the crowd is to send your joint venture proposal to prospective partners through snail mail.

Just Take Action

It cannot be stressed enough: action--not thoughts--brings results. Don’t sit around and day dream; take action.

JV Offers – The Right Way

There’s a right way and a wrong way to submit JV partnerships. The wrong way consists of bombarding every person on planet earth with an offer that is vague and borderline rude. The right way is to select partners carefully, reference them and their work in your proposal, and submit proposals cautiously and with attention to detail.

JV Partnerships – Drafting a Contract

When creating a JV partnership, it’s never a bad idea to create an informal contract. This will specify what you will do; and what your JV partner will do. It will help you to work together and to guide your progress.

JV Partnerships – Learning by Doing

Marketers who are new to JV partnerships often don’t get the most of them. If you find yourself in this position, don’t give up. Over time, you will learn how to do them better, but in order to get there, you must start by doing them—even if you’re not doing them correctly.

JV Partnerships – Your Goal

Before you begin any JV partnership, it is important for you to state your goal as a partner; and communicate it clearly to the person you are working with. It is important to also understand what your partner wants from the partnership.