I can’t wait to walk you through this strategy. This is based on a training I did with our members called the 14-Day Alliance — a strategy for taking a joint venture (JV) partner from having never heard of you to promoting you in just two weeks.
But before we get into the details, I want to give you an idea of just how powerful joint ventures can be.
Jay Abraham was my first exposure to marketing. He’s one of the most respected marketers in the world and if you’ve never heard of him, I’d encourage you to have a look at his Strategy of Preeminence — it’s remarkable.
A few years ago, someone asked him, “Imagine you had to everything stripped from you and had to start your business all over again from scratch. You have nothing — no business, no money, no contacts — and you can only take one strategy with you. What strategy would you choose to relaunch your business and grow it even bigger?”
Without hesitation, he said, “Beyond the shadow of a doubt, I’d choose endorsed marketing and joint venture relationships.”
Why would Jay think that having a JV partner promote him to their list is the most important marketing strategy?
Because that partner has already spent months or years, and tons of money building a strong relationship of trust with their list. When you form a joint venture relationship, there’s a transfer of trust from the JV partner to you.
The people on the list trust the JV partner. When the JV partner builds you up and recommends your stuff, they’ll trust to you.
It’s an incredible strategy, but so many coaches fail to create successful joint ventures. Why is that?
What’s the hardest part of making joint ventures happen for you?
If you haven’t done a lot of joint venture or affiliate promotion work, what’s the one thing you’re scared of that’s been holding you back?
I asked several of our BlackBelt members this same question. Here’s what they said:
“No experience in doing them.”
“Trouble finding potential partners with a decent size list.”
“It’s hard getting them to follow through and do what they promised.”
“Don’t know how to structure a deal so it’s a true win-win situation.”
“I’m very independent and I’ve built my business from cold traffic so I’m not used to asking favors from others.”
There’s a good chance you share these same fears and concerns, which is exactly why I’m so excited to share this strategy with you. I believe that while these issues are completely legitimate, they’re just symptoms of one main problem.
In a joint venture, you’re doing the JV partner a favor just as much as they’re doing you a favor. It’s mutual. -Taki Moore [Tweet This]
The real problem coaches face when trying to create JV’s is that they lack the process they need to succeed, and without the correct process, three things happen.
1. JV’s can take months…
Progressing a joint venture from the initial conversations to where the JV partner takes action can take months if you don’t have a streamlined, straightforward approach. It can take weeks and weeks and weeks to get them to do anything.
If you’re anything like me, waiting around isn’t your strong suit, so it becomes really frustrating.
2. They go nowhere…
If you don’t get the process really tight, then you may have great conversations with potential partners but they don’t lead anywhere. The ideas you come up with together may seem fantastic, but they don’t result in action.
3. They don’t follow through…
In other cases, someone commits to move forward but you don’t have a good process locked down. They may seem to be on board but they just don’t follow through.
The result you end up with is lots of contacts but very few partners.
That’s what happens if you don’t have the right process.
With the right process, things look a little different.
Instead of having it take months, we can forge a profitable, mutually beneficial alliance where they fill you up with great people in as little as 14 days.
Instead of relationships that lead nowhere, you can get partners that actively promote you to their lists.
Instead of stalling, your JV partners will follow through and fill your pipeline with new business.
Sounds pretty good, right?
I want you to imagine you had six joint venture partners, each with a big list of your ideal clients. Each partner is happy to host a webinar three times a year where you sell your coaching programs — that’s 18 webinars filled by someone else (not you) with your perfect prospects for the next 12 months.
I asked some of our BlackBelt members what kind of an impact it would have on them and their business:
“Consistent flow for speaking gigs.”
“Tons of qualified leads for triage calls, strategy sessions, and money.”
“I’d quadruple my business.”
“Sounds like the easiest way to build a database with relationships.”
“More confidence, more certainty, and profits with no stress.”
“I’d have way more free time!”
What about you? What kind of an impact would that make for you and your coaching business?
Keep an eye out for more posts over the few weeks where we’ll take a deep look into the key principles needed to form successful joint ventures that will last for years to come.