The purpose of this chapter is to really push home the ideas around exactly how to joint venture, more specifically, the concept of developing ideas that will fit into your joint venturing with the right people at the right time. What you’ll also discover, and start to understand, is the innovative and very fluid and changeable circumstances in which each joint venture occurs from person to person, and business to business.
Things can change quickly over a short period of time, or very slowly, and from deal to deal, again depending on the initial deal itself. It’s around this problem I want to share the solution with you that will solidly plant the notion of how the impossible becomes possible when trying to strike deals, and how they can be modified in part or in total to suit the circumstance. After we’ve done this in report one, in part two I’m going to demonstrate exactly what I mean using examples and dummy joint venture circumstances and ask you questions about each one, to cover all the bases, and give you the best chance of scoring joint ventures with different types of people.
So the basic plan for me when I set out to write this report was to look at what to joint venture and with whom. I’m going to do this in the best way I know how. Hopefully it will also make it incredibly easy to follow and it will stick in your mind and become second nature. This is a great section to check back to if you ever find yourself stuck for ideas as to what to put on the table in a particular circumstance to seal your deals.
Everyone Can JV
Even if this is your first day
The two main problems that we’re going to be solving are, number one: You’re new to marketing, you’re new in your market so, just what do you give to a marketer who has everything? I often found myself in this situation, and you may just be there right now, where it’s hard to find something to give someone that they don’t already have. You could just give them higher commissions but that’s very basic and it’s extremely likely that they get loads of them all the time. That’s not going to do much good when they have their own products to promote for starters and don’t particularly have time to carry out anything other than the most special joint ventures. When you’re vying for the attention of someone in high demand this makes things even more difficult for you.
Everyone Can JV Part 2
Even if your prospects have no use for your information
Problem number two. Are you creating some sort of info product? How do you expect to JV a 30k a month marketer with a ‘how to’ product? How do you expect to pull in joint ventures from the best in your field if your product teaches them what they already know? Giving your product away in itself isn’t going to be enough for you. An extension of problem number one, this is the second issue we’re going to address and provide solutions and workarounds for under different circumstances. This will be coupled with the other joint venture sections throughout the course that will allow you to score some good joint ventures even if you’ve never released such a product in your field of expertise before, and even if you don’t have a big name or reputation that you’ve built up to go on.
These are the two main problems we’ll be solving in these articles.
The Differing Deal Expect the unexpected
There are many ways to do business with others, and no two will ever be the same. Keep this in mind when looking at how you’re going to go about each joint venture. I see some big mistakes being made, the same ones over and over again. People contacting me (and others), with things we really have no interest in, or don’t have the resources to promote, mainly due to them being in a totally different market compared to what we’ve built our resources for. Offering things in return for a promotion that is not worth the time or is a blatant bulk JV mail that really didn’t take into consideration the kind of things we were going to be interested in.
Selling Yourself & Products The key to securing JV’s
Joint venturing, as with all other aspects of online marketing, is all about selling yourself, and what you’re offering to your joint venture partner, but there’s one single thing that I want you to keep in mind when trying to pull off joint ventures. Don’t just go out there, do the research, find people that you want to joint venture with, and mail them with a generic offer. There’s much more to it than that. Think equal gains all the time. You already know what you want from them, and that’s an ad to their current customer base or any resources they may have suitable for your product, that’s the easy part. What you have to think about is what they want in return. If you can figure this out before doing your mailing, tailoring your offer to specific people and their situations from the outset, you’re going to do a much better job of attracting a yes, rather than using generic mailings and hoping they’ll come back with a counter deal.
Of course you will, without a doubt, encounter counter deals, people trying to get more out of you for their time and money. This is business. It’s quite acceptable and to be expected, but if your original offer isn’t even in the ballpark, or close to what’s going to be requested in return, you’ll be flat out denied. It’s up to you to draw up a good offer, not the person you’re contacting. Always remember that. It’s likely they’ll be very busy, have products of their own, and possibly even more joint ventures to deal with. Again, why would they look at your offer if it’s not what they’re looking for and spend time firing e-mails back and forth trying to agree to something more acceptable to them? They just won’t do it, and your margin of error is very small.
Old Hat Methods You May Have Been Taught Previously
They don’t work anymore
The method that most people seem to use for approaching joint ventures is unfortunately backwards. They create a product, put a price tag of a thousand dollars on it, send out a bunch of joint venture offers and wonder why they keep getting denied over and over again. This is because they’re not looking at equal gains from the right perspective. They may be gaining something out of the deal, something big, and in their eyes, their one thousand dollar product might be the bee’s knees and the be all and end all of all products but you have to start stepping into the other person’s shoes, and asking yourself, will they find what I’m offering them useful? Will they make money from what I’m offering them?
Will their reputation be bettered by promoting my product or by my introducing a special offer that I tailor to their list? This is the way to do things. You need to look at it from their point of view and not yours, as hard as that is to do, with a little bit of prolonged observation it’s not hard to spot exactly what type of deals you should be approaching these people with. I’ve got plenty of examples and stories about how I’ve encountered things of this nature, and so have many of my contacts, and strangely, it’s what we always seem to end up talking about. The worst thing about this is that often the products are good but the deal is shoddy, and people aren’t getting these big joint ventures that their products deserve. Even though they have the right idea, they’re still way off. In the next chapter I’ll show you exactly what I mean..