What is a Joint Venture and how can it work for you and your business right now?
- Complete the below questions.
- Share your answers in the Joint Venture threads in my Facebook groups.
- Sign up for the bonus downloads below.
Understand what a joint venture is and clarify your joint venture offer:
Joint Ventures are one of the best ways to grow your company fast. JVs are all about creating relationships with people who already have access to large audiences that contain the target customers that you are trying to reach.
Many people think, ‘oh, I don’t have a big list or a finished product, so I can’t do JVs.” But, the truth is that there are so many ways to partner with other people, and it doesn’t have to take a lot of money.
Competition is Over, Collaboration is In
For any of this to work, you have to ditch your competitive mindset. Collaboration will always be more powerful than competition. When you collaborate with your expert peers around you, you will not longer have any competition. You’re going to help more people and yourself by collaborating rather than competing. We are stronger together!
Clarify Your Contribution
It’s all about building lasting relationships and your contribution value. What value can you bring to the situation? You must contribute with the intention of giving, and not just what you can get. Reciprocity is a natural bi-product of joint ventures when done properly, so you don’t have to worry about that part. Just focus on what you can contribute. Often, if you don’t have a huge list, it may mean that you need to contribute more in sweat equity at first. Volunteering at events, helping with social media management, or other tasks where you can let your skills shine. You may need to take the first leap and first risk in the arrangement, but don’t give up. Your strategic alliances will pay off as one of the best strategies you could ever employ in your business.
Identify your ideal JV Partners
Identify the 10 people who you want to connect with, and then don’t just email them, you must meet them live and in person. In order to create intimacy and accelerate the connection process, you must meet with people face-to-face. Attend people’s events, networking meetups, mastermind group or meetup events. Those are all great places to meet and engage with key people.
When I approach someone, I like to recognize what the person is doing, the programs they are promoting, or the leader that they are in their community. I show them that I’ve done my research and that I really know what I’m talking about and that I have a legit offer and proposal for connection that fits with what they are doing, and that will benefit them, and inspire them to take reciprocal action.
Likewise, when people approach me, it’s the ones that take the time to communicate thoughtfully and with a sound proposal for mutual benefit that catch my eye.
Position Your Proposal with the Intention of Giving
In other words, you don’t want your first contact with an influencer or potential jv partner to be, “Do you want to promote my stuff? Can you please just share my stuff with your network.” Because, the answer is going to be no. However, if you focus on positioning and presenting your JV proposal with the intention of what you can give or help the other person. When you approach it with the mindset of what you’re able to give, then it will be received much more openly and you’ll get a better response.
Personally, I find it rude when people just ask me to promote their events or programs, with no mention of a reciprocal offer. If I did that for everyone, it would be 4 full-time jobs. It’s unreasonable to think that people are just sitting there waiting to promote your offer…
No, I’m not complaining, but I wanted to get your attention to demonstrate to you that you need to keep in mind that you must take an active role in the process. If you want people to help you, what can you offer in return?
If you want to JV with someone who actually has the leverage and influence you need to get seen, then you have to show how it is mutually profitable. In fact, be generous with your JV proposal to get someone to take action if you want to get an influencer’s attention. If it’s one-sided, you won’t get a response, and it may even damage your credibility with that person.
There are lots of great ways that you can partner with someone right now. Here are just a few examples out of many ideas:
- Swapping stages – you speak at their event, and they speak at yours.
- Some kind of value in exchange for stage time or a booth at a conference.
- Offer generous affiliate commissions.
- Be generous with tickets and other things that generate goodwill. Invite a blogger or influencer complimentary to your high-value event, in exchange for them sharing it with their audience.
- Co-creating a workshop, product or program with a peer, influencer, or even someone who you may have thought of as a competitor in the past, or that the marketplace sees as your competitors. Well, imagine if you and that person suddenly launched a cooperative effort of some kind. A workshop together, a weekend retreat together, or an online course together.
- Go outside of your usual comfort zone and think of new, creative approaches to collaborating with others.
IN ONE SENTENCE EACH…
Tell us about your program or product (event, online course, etc.) and where we can find it.
What can you offer to others to share?
Who is your target audience? Who will benefit from your offering?
Who are you looking to collaborate with? What type of expertise, business, training, product or help do you need to fill the gaps?
Post your above answers in our 2 Facebook Groups and see if we can get you some connections and collaborations to grow your business!
Let’s discuss things like…
- Identifying what you do or have that you know people want or need.
- Building relationships by coming from a place of service, contribution, and giving, not get, get, get.
- Really understand the value you are offering, so you can communicate it properly.
- Meeting with people live and in person for the greatest response and impact.
I’d also love to chat with you about:
- How to reach out and contribute value to your network.
- How to get others to support you.
- How to provide swipe copy so that it’s easy for people to connect with you further.
- How to leverage each other’s audience, so you both get access to more prospects.
- Where to find joint venture people.
- How to approach joint venture partners.
- What are the different ways to joint venture.
|My gift to you! Sign up for my Joint Venture Challenge. Get updates and exclusive gifts, such as my SWOT Analysis worksheet. Use this process to identify opportunities, joint ventures and strategic alliances. Perhaps, you already know all about this process… but have you done it recently? …with your latest network and set of contacts? Go get it!|
If you’re not a member already, I invite you to enroll in my community today! Join me in my Inspired Influencers Academy to get a Joint Venture plan in place, plus $12K+ in other learning, programs, checklists, templates, documents, programs, online courses for every level of your business.