WOW I got a big JV Broker interested in my product.

by Tom B Banned
44 replies
I got an email earlier today from a respected JV Broker saying they are looking for products that are launching soon.

So I decided to post my product that will be launching later this year and see what they said.

I got a message in about 5 minutes stating that my product should sell really well. I needed to pay the person 2k to lock in my spot before March 12. Dang too late again.

I was not to worry since that 2k is refundable if they decide not to continue with the product launch.


I doubt this person has seen my product within the time of posting it to their help desk to receiving the email. The email reads auto email in the subject line.


It is an interesting approach. Is this person weeding out people? Does the 2k actually weed out people?



Thoughts? Comments?
#big #broker #interested #product #wow
  • Profile picture of the author ravijayagopal
    Sounds like a scam to me :-)

    - Ravi
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by ravijayagopal View Post

      Sounds like a scam to me :-)

      - Ravi
      Hi Ravi,

      I would tend to agree if I didn't know whom the person was.

      The person isn't a scammer but someone we all can learn from which is why I wanted to talk about this here.

      One of the things I played around with in Real Estate was pre-qualifying my prospects before I even talk to them. You can see that happening in the Reverse Funnel system that a lot of people swear by (I wasn't interested personally in).

      In a way, this comes across as a way to pre-qualify people. I am just not sure why when it comes to a product launch.
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    • Profile picture of the author Nevada Gal
      Yeah, scam alert....

      I'm sure after you pay $2,000 to some guy he's going to make you a ton of money after he laughs his way to the bank. Sorry but I'm very suspicious of someone who wants money upfront.

      Wow, how did I get so jaded .... must have been all the IM eBooks I bought.

      Good luck man and have you gone to JV Notify to see if you can drum up so partners?
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      • Profile picture of the author Ron Douglas
        Originally Posted by Nevada Gal View Post

        Yeah, scam alert....

        I'm sure after you pay $2,000 to some guy he's going to make you a ton of money after he laughs his way to the bank. Sorry but I'm very suspicious of someone who wants money upfront.

        Wow, how did I get so jaded .... must have been all the IM eBooks I bought.

        Good luck man and have you gone to JV Notify to see if you can drum up so partners?
        Many JV brokers will ask for an upfront fee. That's because they put the work in upfront to research and score JV partners for you.

        Plus, if you're product doesn't convert, they still need to be compensated for their work.
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    • Profile picture of the author Galactus
      Originally Posted by ravijayagopal View Post

      Sounds like a scam to me :-)

      - Ravi
      LOL! you mean a FIRANGI BAKWAS scam !
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  • Profile picture of the author JayXtreme
    Originally Posted by Thomas Belknap View Post

    I got an email earlier today from a respected JV Broker saying they are looking for products that are launching soon.

    So I decided to post my product that will be launching later this year and see what they said.

    I got a message in about 5 minutes stating that my product should sell really well. I needed to pay the person 2k to lock in my spot before March 12. Dang too late again.

    I was not to worry since that 2k is refundable if they decide not to continue with the product launch.


    I doubt this person has seen my product within the time of posting it to their help desk to receiving the email. The email reads auto email in the subject line.


    It is an interesting approach. Is this person weeding out people? Does the 2k actually weed out people?



    Thoughts? Comments?
    LMAO.. I got the same e-mail (if it's the one I am thinking of)

    Didn't even think of submitting something....

    Joel Comm has a fee for product review type of thing like that too... I bet it does weed out the crap.

    I think the $2k would be worth it if you wanted to go down that route.

    Peace

    Jay
    Signature

    Bare Murkage.........

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    • Profile picture of the author Tom B
      Banned
      Originally Posted by JayXtreme View Post

      LMAO.. I got the same e-mail (if it's the one I am thinking of)

      Didn't even think of submitting something....

      Joel Comm has a fee for product review type of thing like that too... I bet it does weed out the crap.

      I think the $2k would be worth it if you wanted to go down that route.

      Peace

      Jay

      I thought it was an interesting approach myself.

      The 2k would be more than worth it if they work the launch. The 2k doesn't insure they will do the launch from my understanding. I think it will only get them to look at the product launch and then decide.

      I bet if you submit something you will get the email I got.
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      • Profile picture of the author Tom B
        Banned
        This is not a scam. I am sure of this. I know the person and he is not a scammer but a very well respected person in this market.

        I am just interested in the system he is using. It seems like he is just pre-qualifying his prospects.

        Edited: The more I think about it the more I can understand this approach now. If you are brokering a launch then you want to make sure the person launching is going to do their best for the launch.

        You know how people can get. Well, having some money in the game will help insure your reputation when dealing with your affiliates.
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        • Profile picture of the author T.R. McCarroll
          Thomas,

          If you think they are serious, then might I suggest an escrow account
          where you can be assured your money is safe.

          Thom
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          • Profile picture of the author Tom B
            Banned
            Originally Posted by WestCoastSandMan View Post

            Thomas,

            If you think they are serious, then might I suggest an escrow account
            where you can be assured your money is safe.

            Thom
            I trust them Thom.

            I was more interested in how they were pre-qualifying. I wasn't sure why they were doing it that way until I thought about is some more and some of the things Jay said.
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  • Profile picture of the author tj
    Thomas, from where do you know that the email came from that person and not from someone who actually just "borrowed" the name. Also I do not think that someone would cash upfront without to check the value of the offer. It sounds more like a scam to me.

    Timo
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  • Profile picture of the author JayXtreme
    It's definitely NOT a scam... it was a legit offer... and a mighty good one too if that's the road you wanted to take.
    Signature

    Bare Murkage.........

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  • Profile picture of the author Droopy Dawg
    Good luck Thomas... if you follow thru with this I wish you all the best, but be sure you do your due deligence to be sure that this is something that you want to be a part of. Scams suck...

    And although 2K isn't a whole lot of money... I'd sure as hell hate to lose it.

    Again good luck bro.

    DeShon

    Originally Posted by Thomas Belknap View Post

    I got an email earlier today from a respected JV Broker saying they are looking for products that are launching soon.

    So I decided to post my product that will be launching later this year and see what they said.

    I got a message in about 5 minutes stating that my product should sell really well. I needed to pay the person 2k to lock in my spot before March 12. Dang too late again.

    I was not to worry since that 2k is refundable if they decide not to continue with the product launch.


    I doubt this person has seen my product within the time of posting it to their help desk to receiving the email. The email reads auto email in the subject line.


    It is an interesting approach. Is this person weeding out people? Does the 2k actually weed out people?



    Thoughts? Comments?
    Signature


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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Droopy Dawg View Post

      Good luck Thomas... if you follow thru with this I wish you all the best, but be sure you do your due deligence to be sure that this is something that you want to be a part of. Scams suck...

      And although 2K isn't a whole lot of money... I'd sure as hell hate to lose it.

      Again good luck bro.

      DeShon
      Hi DeShon,


      Thanks but I am passing on this one. I am not ready for my launch yet. I would do it if I had everything ready. I don't want to put pressure on myself to get everything done by a particular date.

      As I said, I would have already paid him if I had a launch date ready.
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  • Profile picture of the author JayXtreme
    I gotta laugh at how jaded we are in this industry.... we were talking about the approach and effectiveness of such a tactic.. and the whole forum pops up talking about safety and scams...

    :: heads for a beer ::
    Signature

    Bare Murkage.........

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  • Profile picture of the author Andyhenry
    Hi Thomas,

    For me it's all about relationships.

    If I knew the person (met them and respected them) and I knew they would be able to live up to any expectations being set - I'd happily do it.

    If I didn't know them - I wouldn't even consider it.

    Andy
    Signature

    nothing to see here.

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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Andyhenry View Post

      Hi Thomas,

      For me it's all about relationships.

      If I knew the person (met them and respected them) and I knew they would be able to live up to any expectations being set - I'd happily do it.

      If I didn't know them - I wouldn't even consider it.

      Andy
      I am the same way, Andy. That is why I posted because the emails seemed more like a autoresponder response than a legitimate email.

      I could be wrong but that is how it read to me.

      If it was a autoresponse message, then why tell me that my product will sell very well?

      If he really did check out my offer than it was incredibly fast and I am very impressed.
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  • Profile picture of the author THK
    This is a weak approach to weed out in my opinion. Creative people without a deep pocket do not worth a shot in his book. I realy don't agree with that.

    Having said that, maybe this approach is working better for him. I can think of only one good reason for doing this. That is if he gets too many craps to go through and he is tired of it. But in the process he is probably missing on some good offers.

    If his approach is working for him, I have to say JV online and offline are way different. I don't think a JV broker will do well if he ask for a deposit from the product owner just to review it in real world.

    Tanvir
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  • Profile picture of the author Gene Pimentel
    If this email had the subject line: "Do You Want Help With Your Product Launch" then absolutely, I agree 1000% that this is a true opportunity to work with a great marketer with the highest integrity (and I'm proud to know him as a friend).

    Without the $2,000 qualifier, he'd simply be overwhelmed with thousands of sub-par product submissions. That $2,000 is a drop in the proverbial bucket as compared to profits that will result if he promotes for you.

    That March 12th thing is weird... just an oversight I'm sure.Perhaps it was meant to say April 12. I don't know if that was an autoresponder, but I do know he typically replies quickly.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Gene Pimentel View Post


      That March 12th thing is weird... just an oversight I'm sure.Perhaps it was meant to say April 12. I don't know if that was an autoresponder, but I do know he typically replies quickly.
      It was an oversight. I was thinking the email wasn't changed from a previous broadcast. I sent him an email letting him know I missed the opportunity.
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  • Profile picture of the author MichaelHiles
    Whadda you get for $2K?

    I know some Book Agents that will review your manuscript for $2K too.

    Publishing companies too. For $2K they will publish your book.

    $2K to weed out weak product?

    Ummm... let me give you an example of this sort of old business called.. a record label.

    They get thousands of crappy submissions. Unsolicited nonsense, most of which gets pitched.

    Any record company offering to release your album for $... well, it's pretty know that this is a SCAMMMMMM.

    Does anyone else smell fish?

    Really.

    I smell fish.

    Tuna.

    Week old tuna.
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by MichaelHiles View Post

      Whadda you get for $2K?
      From the sounds of it they start working on your product launch. If they don't start your launch and things change then you get a refund.

      It seems to me they are locking in products to review and will refund you if they decide your product isn't a good launch candidate.

      As I said, this is my own interpretation of the email.
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  • Profile picture of the author MichaelHiles
    Well, I'd certainly want to know exactly what I'm getting for $2K. Initially, it sounded like they were just "reserving your slot".
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by MichaelHiles View Post

      Well, I'd certainly want to know exactly what I'm getting for $2K. Initially, it sounded like they were just "reserving your slot".
      If I was ready for my launch I would have already sent him payment. Making 6 to 7 figures is worth the 2k even if it is just a reservation. I know this person could make those type of sales.
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  • Profile picture of the author bobsedge
    Is there any other industry where legitimate brokers get up-front fees? Real estate, mortgage, insurance, etc. all get paid upon results. If he charges fees in advance he should call himself a JV Consultant, not a broker.
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    • Profile picture of the author Gene Pimentel
      Originally Posted by bobsedge View Post

      Is there any other industry where legitimate brokers get up-front fees? Real estate, mortgage, insurance, etc. all get paid upon results. If he charges fees in advance he should call himself a JV Consultant, not a broker.
      Real estate, mortgage, insurance, etc. don't get bombarded with thousands of project submitions which each need to be analyzed. The $2G is returned if your project is not accepted. If it is accepted, you're virtually guaranteed of many times that amount in profit.
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      • Profile picture of the author MichaelHiles
        Originally Posted by Gene Pimentel View Post

        Real estate, mortgage, insurance, etc. don't get bombarded with thousands of project submitions which each need to be analyzed. The $2G is returned if your project is not accepted. If it is accepted, you're virtually guaranteed of many times that amount in profit.

        Oh, like those pay us to tell you if your invention is good or not sort of deals?

        The point is, if you can't do "cursory analysis" of a project on the fly, you're not really knowledgable about your niches, and are asking for consulting dollars to do deeper research. That's called CONSULTING.

        A rose by any other name...
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      • Profile picture of the author bobsedge
        Originally Posted by Gene Pimentel View Post

        Real estate, mortgage, insurance, etc. don't get bombarded with thousands of project submitions which each need to be analyzed. The $2G is returned if your project is not accepted. If it is accepted, you're virtually guaranteed of many times that amount in profit.
        As Michael suggested, if a pro knows his stuff analyzing is part of the deal. And that's some problem to have, too much potential business.

        Why is it only "virtually guaranteed"? If there is a selection process, guarantee it.

        Frankly, I'm a little tired of "gurus" thinking their time is more valuable than everyone else's. There is a problem in this space and that is that many "gurus" have too little respect for the players. And many of us have short memories and are willing to take crap over and over.

        I would never pay $2,000 for the "privilege" of having someone look at my idea. Next
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        • Profile picture of the author adamv
          I got an email from someone awhile back that wanted to help me sell my "how to draw" DVDs. They wanted me to send them a couple hundred copies on my dime. LOL - I don't think so.
          Signature

          Get a professional voice over for your next audio or video project at an affordable price -- I will record 150 words of text for just $5.

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    • Profile picture of the author MichaelHiles
      Originally Posted by bobsedge View Post

      Is there any other industry where legitimate brokers get up-front fees? Real estate, mortgage, insurance, etc. all get paid upon results. If he charges fees in advance he should call himself a JV Consultant, not a broker.
      That's kind of my thoughts. If a "broker" is genuinely a professional, they should know pretty quickly if their rolodex is going to work with a particular product or a particular list.

      For example, a commercial real estate guy might have a big list of buyers for retail strip mall properties because that's his specialty. He/She should know pretty quick if they can move a light industrial manufacturing facility. Otherwise, it's not worth their time or effort to either the seller or himself to try and become something he's not. He should take a pass and go on.

      Paying someone for their on-the-job training is a fools game at best. If you want to do that, tell you what, pay me. I'll figure out whatever you want me to figure out on your nickel.

      Fair?
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  • Profile picture of the author Gene Pimentel
    It's 'consulting' if you were charged a non-refundable fee. Of course he he can do a cursory analysis. But rather than opening the door to a thousand IM wishful thinkers, he wants to work with those who have some level of commitment to their project. The $2,000 is an important qualifier. That doesn't mean that those who don't have the $2,000 are not qualified. But it does greatly decrease his time involvement while having assurance the potential jv partner believes in what they have.

    That being said, those are merely my speculations. I can't speak for the man and would not. I'm just expressing my thoughts on this.
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  • Profile picture of the author Fabian Tan
    Here's what you can do:

    Pay the 2k and let us know what happens LOL

    Fabian
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  • Profile picture of the author Fabian Tan
    Originally Posted by sbucciarel View Post

    Sounds like a real scammer to me. I would not lock in any position for $2K by any unsolicited email.
    I totally agree.

    I have never been told to pay 2k by any real JV broker.

    Fabian
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by Fabian Tan View Post

      I totally agree.

      I have never been told to pay 2k by any real JV broker.

      Fabian
      I wonder if you would be saying the same thing if you knew whom it was?

      Maybe you haven't worked with a real jv broker.
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  • Profile picture of the author Mark009
    It sounds like a good idea to me.

    Quite frankly you can in fact generate a lot more than 2k.

    If you are absolutely sure this guy is worth it, I'd go for it.

    All the best,
    Mark
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  • Profile picture of the author Dan Ambrose
    Hi Thomas,

    Out of curiosity who was the "big JV broker"? Did you get a link to a page that explained it further.. if so, can you pass it onto me? I wouldn't mind having a look at it.

    PM me if you would rather not put it in this thread.

    Thanks,

    Daniel
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    • Profile picture of the author Tom B
      Banned
      Originally Posted by mm365 View Post

      Hi Thomas,

      Out of curiosity who was the "big JV broker"? Did you get a link to a page that explained it further.. if so, can you pass it onto me? I wouldn't mind having a look at it.

      PM me if you would rather not put it in this thread.

      Thanks,

      Daniel
      Hi Daniel,

      This was some time ago. It was a email, not a link to a page.
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      • Profile picture of the author Dan Ambrose
        Originally Posted by Thomas Belknap View Post

        Hi Daniel,

        This was some time ago. It was a email, not a link to a page.
        Ok - no problem. Daniel
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  • Profile picture of the author CurtisN
    I'm sure everybody would have a good laugh if the name was posted. I got the email too and he is one of the most respected and well-known marketers online. I don't know if it's ok to post the name here or else I would!
    Signature
    Curtis Ng (blog) - Product Launch Manager
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  • Profile picture of the author Richard Tunnah
    Hi Thomas,
    I think a retainer is the norm in the 'real world'. My brother is a director for a consultancy company that always charge a retainer then a percentage of the upsales.
    I agree with Jay that unfortunately many of us IM'er get jaded and wary after a while about most offers we get and don't 100% know the sender!

    Rich
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  • Profile picture of the author nu1424
    I can see both sides of it. From a product owner's perspective, there is the fear of having someone take your $2,000 upfront payment, tip their hat and disappear on you. But if you know this person to be reputable and trustworthy, then consider it.

    From the JV broker perspective, if you didn't have some sort of pre-qualifying process, I imagine you would get bombarded by every product coming along. People creating junk products and repeatedly submitting them in hopes something sticks.

    As long as we are on the subject of JVs, someone mentioned JV Notify. What other resources are out there similar to it?

    Peace!
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    • Profile picture of the author Alan Petersen
      I've never worked with a JV broker but if I knew who they were and they had a proven track record with big clients I would be receptive.

      I would want to know whom this person would approach for possible JV deals for 2K so I could gauge if my product fits their lists and that they have big lists. Not sure if that's kosher or not since I've never worked with a JV broker but doesn't seem an unreasonable request to me.

      Maybe you can negotiate. Offer 1K, settle at $1,500.
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    • Profile picture of the author CurtisN
      Originally Posted by nu1424 View Post


      As long as we are on the subject of JVs, someone mentioned JV Notify. What other resources are out there similar to it?
      Go to JV Product Launch, it's run by our fellow Warrior Sean McAlister.
      Signature
      Curtis Ng (blog) - Product Launch Manager
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