Joint venture partnerships are one of the fastest ways to build a business. After you have your business set up and a way to pay JV partners, such as an affiliate program, you can contact people who have related products and cross-promote each other.
A client who is a life coach told me about a joint venture he did with a local owner of a pizza parlor. They arranged a night where the coach gave a talk on time management while people ordered and ate pizza. Afterwards he passed around a clipboard for those interested in receiving his checklist for managing time, to write down their name and email address. They also received a discount coupon on their next pizza order. Each month the partners scheduled a talk on different topics that the coach covered in his coaching program, and the attendees enjoyed pizza. Both coach and restaurant owner built up a clientele doing this and that’s how the coach started building his list.
This is an excellent way to work with a JV partner offline. If you are a coach and you’d like to copy this model, look around your community at business owners with related products who have a brick and mortar facility, and who you could partner with, in a similar format. For example, if you’re a health coach, find a spa owner or health food store owner. If you’re a personal growth coach, find a business owner who sells books or gifts. If you’re a relationship coach, find a business that sells chocolate or cakes. You get the idea. Any kind of coach can partner with a restaurant owner, like my client did.
How can you take this model online? Use the same idea to find a partner who markets a related product and cross promote each other. There are many ways you can cross promote a joint venture partner online that I want to share with you. You can both do these for each other in turn. You can start by offering to promote them by the following:
**Let them do a teleclass to your tribe
**Do a teleclass together where you offer your freebies after the call
**Write up a recommendation for them in your newsletter
**Send out a solo email about the JV partner’s product
**Invite them to do a guest blog post
**Send out posts for them on your social media networks
**Include one of their freebies or other product they are willing to provide as a bonus in one of your product offerings
Of course, you’ll want to be in their affiliate program so you can earn a commission if someone in your tribe buys from them and vise versa.
If their list is bigger than yours, you may want to suggest that they do one of these for you first and you’ll do one in return when your list is bigger (they are paying it forward). Then you do this with other partners to build your list.
Start looking for joint venture partners offline and online that you can build a relationship and as you do, you’ll have a partner for years to come. Think about what products relate to or compliment yours and use your imagination on this. The possibilities are unlimited. Look in your local community for offline and entrepreneur groups online to find these people. Then send them a brief note inviting them to discuss the possibilities of collaborating.
Joint venture partnerships are the number one way to build your list! Now go out and find JV partners to work with.