Many times when people think of "Joint Ventures," they think about asking a potential partner who shares their market to promote their product or service to that person's list.  This has become especially popular in the internet marketing arena when it's not unusual for a subscriber to receive fifty different email promotions for the same product - many times with marketers trying to out-do one another with their incredible bonus offers.

Unfortunately, this level of promotion often makes marketers believe that a joint venture is nothing more than a bunch of guys (and gals) promoting for each other.

Nothing could be further from the truth.

Joint Ventures are simply arrangements where two or more business owners work on a project together to benefit each member of the partnership.

And one of the least-used and most beneficial ways for information marketers to benefit from a joint venture agreement is in the creation of a product.

Here are 7 product creation joint venture ideas to get your imagination going:

1.  Tips Or Resources Compilation
If you contact several experts in your industry and ask them to share their top tip or resource that can help their customers, you will have a Tips Sheet or Resources Directory that could be extremely valuable in your market.  In this type of project, the experts benefit from the increased exposure to their target audience.

2.  Chapter contribution
In this joint venture, contact several different experts on your topic and ask them to contribute a chapter to your book, or a lesson to your course.  Similar to the Tips or Resources Compilation, the experts benefit from the increased exposure to their target audience.

3.  Add A Product To A Partner's Product To Create A Complete System
Have you ever read a book or completed a course and thought to yourself, "This would have been perfect if only they had included..."  When this happens, it's the perfect opportunity to contact the product owner and strike a deal with them to add that missing piece and create a whole new system that you co-own.

4.  Joint Workshop
Put together a workshop where you teach students to become successful in your area of expertise.  But don't do it alone!  Invite a few other experts to participate and have each of them teach a session at the workshop.  Everyone promotes and sells the workshop, and everyone shares in the profits.  This type of joint venture also works if you're NOT already an expert.  You can organize and manage the event, record the sessions and, at the end, you have a complete system ready to sell.

5.  Expert Video
If you're interested in a market where you don't have any expertise, find an expert on the topic at a college in your local area.  Ask them if they will demonstrate a "how to" while you record them.  Many times, experts will do this for free, especially if they're a college student and they can put it on their resume.  Other times, you may have to pay a small amount or share ownership of the finished product.  Either way, you will have a how-to video ready to sell (or even give away) so that you can break into the market.  This type of joint venture is ideal for long-term relationships where you create a series of how-to videos and share the profits with the expert.

6.  Interview Series
Another excellent way to break into a new market is to conduct a series of recorded telephone interviews with well-known (or even lesser-known but highly-successful) figures in your marketplace.  This can be a powerful joint venture if you persuade the interviewees to promote the interview series beforehand, and if you encourage them to promote one of their products (for which you will earn an affiliate commission) during the interview. This type of project also opens up multiple streams of  income when done correctly.

7.  Update Existing Out-Of-Date Product
One of the easiest and fastest types of product-creation joint ventures is contacting a product owner who has an out-of-date product and asking them to do a project with you where you update their product with relevant, up-to-date information and you then co-own the product.  This is an excellent vehicle for cross-promotion as well if you sell your products on-line; inside the product itself, recommend your own products with your partner's affiliate link and your partner's products with your affiliate link.  Then you both benefit when you make sales.

One of the most important principles of building and running a successful business is that you shouldn't try to do it alone.  Use joint ventures creatively to expand your product line, your market reach, and your profits.

If you're ready to learn how to put together joint venture projects using proven techniques and a system that works, check out my multi-media course, Joint Ventures Unleashed.  Visit http://jointventuresunleashed.com today.