#78: How to get a potential Joint Venture partner to say “Yes!”

Marketing / Automation, Office Operations

You may have heard the term before: joint venture, JV, or JV partnership… but simply put, a joint venture is when two experts agree to do or provide leverage to help each other either grow a list, make more money, or perhaps get more exposure.

Nowadays, popular ways to JV include getting involved in (or running):

  • Interviews on blogs or podcasts
  • Giveaways
  • Virtual summits
  • Endorsements
  • Affiliate marketing activities

The main reason for doing a JV is not always so that both parties gain money, but to augment each other’s business goals, whatever these are. If you are planning a launch but you don’t have much of a list, get involved in a JV partnership to expand your reach and grow your list. On the other side of the coin, if you have a healthy list but nothing to launch, you can partner with someone who DOES have something significant to launch, so that you can leverage your subscribers and make some money (or at least build up leverage with that particular product creator).

No matter how big or small your list, no matter how new or expert you are, the success of your proposal will rise or fall with the value of your offer.

In today’s video, I’m going to share with you how to get a potential JV partner to say YES!

We are starting off a new month with a new theme: Profitable Joint Ventures.

You may have heard the term before, joint venture, JV, or JV partnership. Simply put, a joint venture is when two experts agree to do or provide leverage to help each other either grow a list, make more money, or perhaps get more exposure.

Nowadays, popular ways to JV include getting involved in (or running):

  • Interviews on blogs or podcasts
  • Giveaways
  • Virtual Summits
  • Endorsements and even affiliate marketing activities.

The main reason for doing a JV is not always so that both parties gain money, but to augment each other’s business goals, whatever these are. If you are planning a launch, but don’t have much of a list, get involved in a JV partnership to expand your reach and grow your list.

On the other side of the coin, if you have a healthy list, but nothing to launch, you can JV with someone who does have something significant to launch so you can leverage your subscribers and make some money (or at least build up leverage with that particular product creator).

No matter how big or small your list, no matter how new or expert you are, the success of your proposal will rise or fall with the value of your offer and, in today’s video, I’m going to share with you how to get a potential JV partner to say YES!

First, ask yourself, “Do I need a joint venture partner for this, or can I do it just as well on my own?”

If you are just starting out in increasing your visibility, that is a factor to consider. On the other hand, if you are tired of being at a certain plateau and you want to expand your reach, what you are looking for here is leverage.

Leverage means getting everything you can get, to the absolute maximum, out of a situation, person, or strategy.

How that translates to a joint venture: You want to leverage your more visible partner’s:

  • Mailing list
  • Visibility
  • Authority

The wrong way to approach someone is to email them and say, “ey I like what you are doing, I have a great product, can you promote it for me?” (I get those a lot.)

The right way and the ones that always stand out and get my attention are those that:
A. Show clearly the person contacting me knows how the JV process works
B. Focuses on MY audience and MY needs
C. Presents a really interesting idea that (a) excites you and (b) shows me an instant possibility of helping me make money, please my subscribers or just get a really nifty gift thrown at my readers for free
D. Has at least one phrase or sentence or even a couple of keywords in there that catches your attention and makes you go on Full Alert, tail wagging
E. Bonus! I love the ones that make it super easy for me to not have to do a lot of work – they have graphics and swipe copy and a suggestion of what they want me to offer or talk about or add as a bonus. I get so reassured when I see this person has everything set and ready to go. She’s going to do most of the marketing and promotion. She’s made it easy.

What she’s done is presented me with that WIN-WIN no brainer to say a big “YES” to. And don’t worry, I’m going to go over more of these things in follow-up videos this month.

Before you start approaching people to get them to yes, make sure you understand your own clear reason for deciding a joint venture is your best strategy.

When it comes to what you’re offering as an enticement or bonus, ask yourself:

  • Is anyone else offering to provide this or selling this?
  • How great is my potential JV partner’s need?
  • What can I leverage that will help me and the person I’m approaching?
  • What do I have to offer that will make her sit up and take notice?
  • How will this benefit my proposed partner? How will it benefit me? How will it benefit her subscribers—and mine?
  • Have I made saying yes as attractive and easy as possible?

Another crucial question to ask yourself is “Does it complement my proposed partner’s offer?” In other words, if you are offering to support your proposed partner’s new piece of writing software, are you offering her a relevant incentive, such as beautifully-created templates that she can add as a bonus to her launch? It all boils down to knowing your JV goals and your partner’s JV goals, plus understanding why your proposed partner will love your proposal.

The biggest rule of JV partnership: They should be a clear WIN-WIN for both parties.

Think about those things and join me next week where I get you JV ready! See you next week with more Systems Sunday!

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