Joint Ventures: Five Powerful Tips for Building JV Relationships
One of the best and fastest ways to build your business and maximize your profits is to develop joint venture partnerships. Here a five powerful tips that will greatly enhance your ability to build strong, lasting, and mutually beneficial JV relationships. Tip #1 ? Don't Let Fear of Rejection Hinder Your Efforts Dr. Joe Vitale, www.MrFire.com, is a very successful copywriter and best-selling author. I'm sure he'd never heard of me when I contacted him via email about my recent "Networkaholics Revealed" ebook project. So I didn't really expect a response from Joe. But I sent him an email anyway. After all, I really had nothing to lose? and a lot to gain if he responded. And he did! Why? Perhaps because I was doing what he himself had done early in his career -? reaching out to someone of a higher level. Joe said, "When I was first starting out as a writer, people way above me, such as famed copywriter Bob Bly, helped me. In later years, marketing gurus such as Murray Raphel and later Paul Hartunian, all helped me. I simply wrote to them. They sensed my sincerity and offered guidance. Today I do the same for others." Joe did that for me. Was I nervous about contacting Joe and other big-name successes? You bet! But I didn't let that stop me. According to Chip Tarver, www.FirstContactSecrets.com, you must put your fears aside. "Most people have a fear of rejection," Chip said. "The most important thing to keep in mind is that you are typically not rejected, your idea is. So try not to take that personally. "Remember that failure is something to be cherished, because it gets you closer to success. Every failure is just a test that didn't work. It is not a personal failure. When you get a 'No,' just think 'Next' and move on to the next person." Was I rejected by anyone? Of course! But my results were better than 50-50. If I'd been afraid to approach people, my ebook would never have gotten off the drawing board. Tip #2 ? Focus on the Relationship, Not Just the Deal Regardless of who you want to develop a JV partnership with -? whether they're already rich and famous, or unknown newbies interested in helping you while they learn -? remember they are people, not business deals. As Chip says, "You will never, ever do any business anywhere in your life (online or off, in any industry, with anyone) until you learn that business is all about people; and people are all about relationships." Alice Seba, www.InternetBasedMoms.com, says "I like to meet other people, learn from them, interact with them, and build long-term relationships and partnerships." According to Alice, those relationships may ultimately develop into joint ventures or other business benefits. "When they do, they are stronger relationships than contacting someone and saying, 'Hey, will you send this email out to promote my product? You'll make a commission!' "I have gotten some good joint venture deals with 'big name' people to promote my stuff," Alice said, "but I was friends with these people for a long time before any business relationship developed. I'm nice, I give. Some people don't get it. They are just focused on 'How do you get the gurus to promote your product?'" Build relationships/friendships first. Tip #3 ? Address Their Interests, Wants & Needs My project dealt with the topic of networking. So when I decided to approach people about collaborating, I contacted those whom I knew had an interest in that topic, or had a list of people who could benefit from the topic. Michel Fortin, www.TheCopyDoctor.com, said, "When you know that the other person has very specific needs, and you have a product that serves those needs, you can tailor your introduction to address those specific needs." Michel has had a lot of success with JVs, and knows what he likes. "In general, I like it when people offer me something that ties very, very well with what I do -- whether it involves copywriting or marketing. For instance, my main goal in every JV is to make my subscribers' lives easier. It must be relevant to my list and me. I want to do deals where, although it might not necessarily be specific to me, it would serve my list very well." Show your potential JV partners how your project can make their life, or the lives of their clients and subscribers, easier, more convenient and/or more profitable, and you'll have much greater success. Tip #4 ? Show Them More Than The Money Don't let that famous line from the movie, "Jerry McGuire," fool you. Not everyone interested in doing business wants you to "Show me the money!" Michel says, "If you offer me something and the first thing you tell me is that I can make money with the deal, I'm not interested. Making money should be the natural byproduct of doing the right service for my clients. My favorite JVs are the ones that most benefit my clients. The commission is just a fringe benefit to me, not a direct benefit." Chip suggests that your primary objective when approaching someone to do a JV must be to establish your value. "If you don't establish your value, people will have no use for you," he said. This goes well beyond telling them how much money they'll make. Here are Chip's three ways to establish value: 1. Offer to do something your potential partner cannot do.
2. Offer to do something your potential partner will not do.
3. Offer to do something your potential partner does not want to do. "If you can do any of those three things, you immediately have value," he said. "If you have value in a stranger's eyes, he/she will think you're worth getting to know. If you don't have value, why would they care? Why do they need you?" Tip #5 ? Give Before You Receive Best-selling author Bob Burg, www.BobBurg.com, says there is one thing that all people who are incredibly successful at building relationships have in common -? they give. "In fact," he says, "people who are rich financially, spiritually, emotionally, physically and socially are the biggest givers. They are always asking, not 'What can he/she do for me?' but 'How can I help him? How can I add value to her life? Who can I introduce him to that he can help and/or who can help him?'" As Chip says, "Your goal should be to help others. If your only goal is to help yourself, you'll become known as a 'taker,' not a 'giver.' Givers have the greatest success, and they typically give out of a heart of giving, not out of selfishness to enrich themselves." In summary... Of course there are several other things that will increase your odds of JV success, such as having a unique product or proposal; doing most of the work yourself (making things as easy as possible for your JV partners); and being patient and persistent without becoming a pest. But for the greatest chance of succeeding with your JVs: 1. Don't Let Fear of Rejection Hinder Your Efforts
2. Focus on the Relationship, Not Just the Deal
3. Address Their Interests, Wants & Needs
4. Show Them More Than The Money
5. Give Before You Receive It worked for me, and it will work for you, too! For more incredible insights into building your business, check out Bonnie Lowe's amazing new ebook, "Networkaholics Revealed! True Confessions From People Who Networked Their Way to Success (And How You Can Do the Same)" at Networkaholics-Revealed.com.com
Related News
|
 |
|
|
RELATED ARTICLES
Motivating Shoppers with Online Coupons (Part 1 of 2)
Online shopping continues to grow at leaps and bounds. Depending on who you ask, the numbers for increase in e-commerce have been consistently coming in at 20-30% year over year. These numbers present a great opportunity for online stores of both products and services. But despite these staggering figures, increasing competition continues to dilute the marketplace. One great opportunity for sellers to increase traffic and revenue in their virtual stores is to offer online coupon codes and discounts through an affiliate program and their advertising. Coupons and discounts have always been a great way to motivate buyers in brick and mortar stores, and now that opportunity has migrated to web shopping!
Know The Fundamentals To Success
Internet Marketing is right for everyone. Unfortunately, not everyone is right for internet marketing. I have been involved in internet marketing now for over 4 years, I have earned some money here and there but had never achieved the kind of success I was seeking. I've tried several things that didn't work, but I've learnd a massive amount and now I have the knowledge and understanding to make internet opportunities work.
The Most Profitable Product In The World You Can Ever Sell!
Thank goodness, the most profitable product in the world you can ever sell... also happens to be the easiest product to create.
A Tip to the Beginning Entrepreneur: Know What Marketing Means
Internet Marketing has been a buzzword for over a decade now, a short time by ordinary measure. And yet in terms of Internet reckoning, this is a very long time. Whatever, we always go back to the origin of the word marketing.
E-marketplace ? Facts and Fictions
Not long ago, industry pundits were touting B2B marketplaces or exchanges as Internet era panacea for productivity and cost-cutting problems of corporate world. Buoyed by excessive investor interest and driven by a desire to cash in on the enormous dot-com valuations of late 90s, marketplaces were sprouting like autumn mushrooms. With the collapse of stock market, it did not take much time for burgeoning B2B marketplaces to come to a screeching halt!
To Survey Or Not To Survey
I have learned over the years that when it comes to online marketing as I know it, it's not about what I want in my business. It's really about what people who visit my website want. For awhile I didn't understand that philosophy. How do I find out what people want?
Website Marketing: 10 Smart Tactics To Make Your Online Testimonials More Credible
You know that using testimonials can help persuade
your website visitors to buy from you.
The New Marketing Landscape
Many of us in the marketing services and/or agency business are starting to see some real tangible marketing patterns emerging that businesses need to be aware of if they want to leverage their marketing dollars in this "post .com implosion economy."
If You Build It They Will Come - Not Without Web Marketing!
I'm sure everybody has received an email from a company promising to get their website placed first on all the major search engines. Maybe some of you have even tried these services or may be thinking about it right now.
Internet Marketing - Surviving the First Year
So you've decided to take the leap into deep water and go
into business for yourself, specifically into Internet
Marketing. Congratulations! This was a smart decision, one
that will eventually reward you with all the dreams you can
dream. Your challenge now is to survive that 1st year.
Truth and Lies
How low can one get? The number of encounters I have had in the few months as a network marketer with liars is astounding. Why do people need to stoop to lying in their attempt to succeed? Do they really believe that they will attract customers by using deceptive means. Hey friends, I've got news for you! You are the ones who have been deceived!
Getting noticed on the Internet - Digital Marketing for Small Business
The Internet has grown from a small network of academics needing a way to trade research into a world-spanning, ubiquitous marketplace and repository for nearly every possible kind of information and knowledge. How does a small business avoid being washed away in the constant tide of buying, selling and marketers hawking every conceivable item (and some difficult to conceive...)?
How To Actually Make Money In Network Marketing
Most people that I know who are, or have been in network
marketing, never seem to make a dime! Others (myself
included) make a small fortune. If you're not doing VERY
well with your business, and you're honestly putting in
the effort, let me explain to you how to turn things around!
Making Money out of Your First Effort
Have this phrase broken through your life at least once? I think so, most of us want to be paid when we are sleeping, resting or on vacations. Is there a way to turn your dream into a reality? As a matter of fact, it is possible?
Surfing, Searching, & Networking 101
Everyone knows the internet can be very useful for finding information or learning something new. In all honesty, the internet should be your #1 resource for finding any remote information. The problem is everyone do not know how to use the internet to find information or to their advantage. It's simple and I'll give some tips & secrets to successfully using the internet to your advantage.
Sending A Joint Venture Proposal
When forming a joint venture with another business, your most important step is the approach you use when contacting your potential business partner.
The Secret Weapon of Successful Web Marketing Is
Impulse shopping in the checkout lane may be what drives grocery store profits, but chances are it doesn't do a thing for your business. Your customers are far more likely to need up to nine contacts from you before they trust you enough to buy from you.
Internet Marketing Requires Persistence
Marketing your company online requires patience and persistence. Like every worthwhile investment, you need to plan on a long-term commitment to reap a good return. Many Internet marketers pour tons of money into their online business and expect the returns on their investment to be lightning fast. There was a boom time when quick profits were possible. But now it's very much a competitive game and the time tested strategies of traditional marketing apply to ecommerce too. Here are some strategies to help you market your business online:
How Old is Too Old?
How does a 74-year-old newbie break into the world of Internet
marketing?
Viral Marketing, New Means of Communications and Applications
Viral Marketing and Communications, Buzz Marketing, and Word of Mouth
|
