This month’s theme is Profitable Joint Ventures. We’ve gone over what is a joint venture, things you need to do in order to get a potential JV partner to say YES, and how to get yourself JV ready. You can always click the links below the video to catch up.
What you have to keep in mind is that when you approach someone, whether it’s to be a guest on their podcast, asking them to be a part of your giveaway – whatever the case may be – the potential partner probably gets lots of requests so you need to make yours stand out.
In this video, I’m going to walk you through a sample joint venture (JV) inquiry letter and lots of examples so that you will stand out and get a big giant “yes!”
Continuing with Profitable Joint Ventures…
We’ve gone over what is a joint venture, things you need to do in order to get a potential JV partner to say YES, and how to get yourself JV ready. You can always click the links below to catch up.
In this video, I’m going to walk you through a sample JV inquiry letter and ideas for a promotion plan.
First, one of the most important details you can and should get to on your short JV inquiry letter is to tell your proposed JV partner exactly how you plan to promote your Joint Venture and what is in it for her subscribers. Let her know, as quickly as you can, which of the following you have already set in place:
- Email series for your JV and her affiliates to use, ready to go
- Any prizes you are making available for her affiliates
- Valuable content she/they can use
- Social media posts she/they can set-and-forget
- Special bonuses for her list
Give an amazing discount on your product for her list members (or even let them pick it up for free). Or create a special, custom bonus for her subscribers – one she can brand for herself.
Ok, let’s jump right to the sample letter. Start with a personalized greeting
(“Dear Sally”—not “Dear madam, my name is…)
Where you met (providing you HAVE met!)
If you have had any sort of significant personal interaction, reference it briefly, right away (e.g. “We met at Comic-Con last year, where I really enjoyed our discussion on glow-in-the-dark plastics.”)
If you are a member of one of her mastermind groups or clubs, jog her memory (Example: “I’ve been in your Money Minders Club for three years and doubled my income within the first three months.”)
If a mentor of yours urged you to contact her, tell her that. (Example: “Our mutual friend, Maggie Ribbons, suggested I contact you.”)
Why you are writing—That’s simple, “I have a proposal for a Joint Venture”
What you do and why she should care—mention who you are and your key benefit (or two) that would make the venture interesting to her (Example: “I create templates that I think your subscribers would enjoy using for your upcoming “Time Management Challenge” that starts on May 15.”)
How you are going to make it easy for her— (Example: “I will provide a custom package of templates branded with your colors and all you have to do is send your subscribers to my landing page to download them for free, the day of your webinar, using special code JUST4U.”)
How you will promote— (Example: “I will be happy to interview you on my podcast, actively promote your launch every day, the weeks of the 8th and 15th, and send out emails to my list”)
Any stats that will help— (Example: “My list of 3,200 people is highly responsive or that you average $50,000 per launch including upsells, at four launches per year.”)
BE PREPARED TO PROVE ANY FIGURES (don’t give the proof now but be ready with it)
OMIT FIGURES THAT ARE NOT IMPRESSIVE
Where/how to check out your JV gift/product/content— (Example: “If you would like to view the template package I am making available, your confidential link is at [give your clickable link].)
Finish with clear details on how to contact you— (“I can be reached by telephone or Skype at…” or “Here’s the link to my Appointment Calendar if you would like to choose a time slot to chat, at your convenience.”)
A couple of final thoughts – Focus on making every step as easy as possible for her. If she has to do two clicks to access something, figure out how to get that process down to one.
And if you think it works better, instead of a link to your product, just say, “Please let me know if I may send you a sample copy of my template” or “A hard copy print version of my new book” or whatever you’re producing.
I know that we went over a lot of information, so I created a downloadable for you right below the video that has all the information in one place.
We will wrap up next week with how to show you’re a pro.
See you next week with more Systems Sunday!
Catch up on other “Profitable Joint Ventures” episodes:
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