If you made the effort to head to Affiliate Summit, PubCon, AdTech or any of the other industry shows, you’d have had the opportunity to meet up with networks (affiliate/CPA as well as traffic), and fellow affiliates and marketers with whom you’d speak to regularly over AIM or on the forums, the question is aside from the tax break, what benefit have you got out of attention the event?
I’d started out with 6 possible projects following this past January’s Affiliate Summit West, and following up and following through with possible partners is part of the business.
About 3 are proceeding, with progress underway. If all works out, at least 2 of the 3 will continue growing till the next Affiliate Summit West at the Wynn.
I’ve seen potentially successful partnerships break up sometimes due to pretty trivial reasons. Here’re some of the most common:
- Investment of time and resources: While we’re all subject to a finite amount of capital, I’ve found that time is often the breaking factor, especially if one of the partners put in only 30 minutes a week. This is fine if the business is up-and-running and generating consistent projects. The reality is most new projects will end up being a timesuck, at least until they’re on their feet.
- Clear outcome and objectives: Document all discussions you might have, especially when it comes to roles, responsibilities, how much each partner is expected to put in in terms of time and capital and including exit clauses. Make sure all parties are agreeable to the terms and edit if needed. With a reference document, it significantly reduces any disagreements which may arise later.
- Partner selection: Although you can pick possible partners based on their reputation or your initial assessment of them, it’s not easy to understand how well you’ll work together until the project is underway. This also means that you could put in a significant amount of time and work and discover that the partnership isn’t going to work out. Rather than get angry, frustrated or feel upset about it, it’s in your best interest to keep moving forward.
If you’ve similarly got some followup projects post-Affiliate Summit, how’re they working out for you?