How To Build Powerful JV Relationships

eBizSuccessCoach · 11-05-2009, 11:09 AM

Have you ever thought about doing Joint Ventures but never knew how to begin?

What is a Joint Venture? It’s when two or more companies come together to form a temporary partnership for one or more projects.

Let me explain something before you even begin.

Most people think you can just send out hundreds of emails to prospects and they’ll jump on your offer like white on rice.

IT JUST DOESN’T HAPPEN THAT WAY!

If this were so, everybody would be profiting big time with joint ventures.
You can’t just send out emails to people asking them to promote your product to their list or place an exit pop-up on their ‘Thank You’ page of their order form.

Smart business professionals will simply delete your message and continue on with their lives.

You have to build a relationship with them first!

Why?

Because they don’t know you. People want to do business with people they know, like and trust. Any smart business owner will not promote your product if they don’t know who you are and if your product is legitimate.

They don’t even know if your product or service will convert browsers into buyers.

They’re not going to risk ruining their reputation on some sorry product that will put a virus on their customers computer or something even worse.

What if you don’t ship your product?

What if you don’t deliver on your promise?

These are the type of questions that will be going through your prospects mind.

You have to build relationships first and then pitch your product for the joint venture later.

Building a relationship could take days, weeks, or even months.

Here are a few steps to jump start your JV campaign:

Step 1: Locate potential prospects and sign up for their newsletter to see if their customers are the same customers that will be interested in your product or service. It will be a waste of your time and your prospects if your product does not relate to your prospects target market. Do some research and sign up to their newsletter. This will be a great way to investigate your prospects customer database.

Visit www.Alexa.com and download their tool bar. For every page that you land on, the tool bar will give you that sites traffic rank and company information.

Step 2: After you’ve located potential prospects and signed up for their newsletter it’s time to call them. Yes that means picking up the telephone, pressing the keys, and talking to them verbally. Don’t send out emails. Overcome your fears and call them.

Be polite and make sure your not interrupting your prospects. Their time is important just like yours.

Ask then questions about their business and how you like the content of their website. Complement them on the great work they’ve done.

During your conversation you should be asking questions 99% of the time. You need to become the listener and never interrupt.

Why? First off it’s rude to interrupt and at this point, your prospect doesn’t know you and therefore doesn’t care about you or your business.

The goal is to build a rapport and get them talking about their business and their accomplishments. Everybody loves to talk about themselves when giving the opportunity.

Remember, people want to do business with people they know, like and trust.

During your conversation ask open end, emotional questions like;

“How did you get started in your line of work?”

“What sets you apart from your competitors?”

“What advice would you give future entrepreneurs?”

And the most important question;

“How can I tell if someone I know or meet is a good prospect for your business?”

This question is very important and you should ask it with great interest. You have just told your prospect that you care about them and the success of their business on the first call without looking for anything in return.

Asking questions like this and building a positive relationship with your prospect will result in direct business and tons of referrals for you in the future.

Step 3: After the conversation it’s time to follow up with an email or postage note. Mail the note the same day of the conversation. This note does not have to be long, in fact it should be about one sentence long.

If you use a postage note, I recommend you use a postcard (8 x 3.5 inches) with your picture and business contact info or notepad with the same contents and MAKE IT PERSONAL.

When writing your follow up postage note, use blue ink (studies show that blue ink is more effective than black ink or any other color). Your note should read;

“Hi Joe or Jane (Mr. or Mrs.),Thank you. It was a pleasure speaking with you over the phone. If I can ever refer business your way, I most certainly will.”

I suggest you place your postcard in a number 10 envelope hand addressed and hand stamped. Do not use a impersonal mailing label or postage meter. KEEP IT PERSONAL.

Follow up with your JV prospects and all other contacts on a consistent basis. Consistency separates the rookies from the pros. What category do in fall under?

Step 4: After you’ve built a relationship with them and it‘s the RIGHT TIME, pitch your joint venture offer. Offer them a commission of 50% or even 75%. You have to remember something. Once their customers buy your product, their customers now become your customers and you can up sell back end products to them forever… and keep 100% of the profits!

Be generous with the commission structure. They’ll appreciate it.
A good commission structure will also motivate them to promote your product or service.

Make sure you have a sales letter that converts. By this point, you should have tested your sales letter and have statistics to prove it.

If your sales letter does not convert, you risk the chance of losing your JV prospect forever and ruining you image by looking unprofessional.

I suggest that you try to set up at least 12 JV’s to really explode your sales and build future relationships with your prospects.

Once you’ve built a relationship with your prospects, you have a proven sales letter that converts, you deliver on your promise, and you offer your prospects a generous commission…. they’ll be eager to promote your product well into the future for many years to come.

This means more leads, more sales, and FREE ADVERTISING

adamchandler · 11-05-2009, 11:46 AM

Wow.. Judah This is some extremely helpful information especially for people like myself who is just getting started in the JV world. So, do you think you could promote one of my products?.. Just kidding.. I read every word of your post and greatly appreciate the advice. It makes a lot of sense.. People do business with people and not with websites so it does not matter how great your offer or product is if you do not add the human element and connect on the phone and show a genuine interest in that persons business.

Thanks again for the great tips and advice..

-Adam

eBizSuccessCoach · 11-06-2009, 05:24 AM

Hey Adam,

Thanks for your wonderful comments and I'm glad you found my article helpful. You are right, we don't do business with websites but with people and if we can build more qaulity relationships with people then our internet businesses will have no limits. Good luck on your joint venturing my good friend.

affmillionaire · 11-08-2009, 02:42 PM

Hi Judah,

This was an excellent post, well worded advice and immortal messaging. I hope it will stay with me forever. A JV relationship continues to be quite precious and fragile so I believe that your message should be placed in lights at the beginning of the JV Partner Forum ;-)

Regards,

Alvern

eBizSuccessCoach · 11-09-2009, 11:21 AM

Quote:

Originally Posted by affmillionaire

Hi Judah,

This was an excellent post, well worded advice and immortal messaging. I hope it will stay with me forever. A JV relationship continues to be quite precious and fragile so I believe that your message should be placed in lights at the beginning of the JV Partner Forum ;-)

Regards,

Alvern

Thank you for your kind words and I'm glad you enjoyed the article. Building JV partnerships isn't hard but it does take patients and being persistent. I wish nothing but the best for you and your business. Again, thank you my friend.

Mike Anthony · 11-10-2009, 11:05 AM

Some good advice there but some of those questions would annoy the life out of me. Its almost like you are asking to be coached particulalry

“What advice would you give future entrepreneurs?”

As a programmer that develops and sells quality products the last thing I want to do is grovel or have someone grovel at my feet. I'm a bottom liner. What do you have to offer? What are you asking me to offer? From there I want to check credibility and cover myself where I have concerns.

So I get the whole build relationships thing but honestly with the quality I put into my product I would want a relationship where the JV partner values my product just as much as I value his list (or at least close). If I am approached to sell a product that fits into what my customers look to me for I'd want the person to spit it out and be straight up. Because I am approached in a business like manner does't mean I can't build a relationship as that discussion goes on. In fact I can tell a whole lot about a person from how business like their approach is.

Great point about future cross sells though.

LazyMogul.com · 11-10-2009, 09:21 PM

Nicely done, Judah. kudos ;-D

Always-A-Warrior · 11-11-2009, 12:28 AM

Thanks Judah. Great info.

eBizSuccessCoach · 11-11-2009, 10:48 AM

Quote:

Originally Posted by Mike Anthony

Some good advice there but some of those questions would annoy the life out of me. Its almost like you are asking to be coached particulalry

“What advice would you give future entrepreneurs?”

As a programmer that develops and sells quality products the last thing I want to do is grovel or have someone grovel at my feet. I'm a bottom liner. What do you have to offer? What are you asking me to offer? From there I want to check credibility and cover myself where I have concerns.

So I get the whole build relationships thing but honestly with the quality I put into my product I would want a relationship where the JV partner values my product just as much as I value his list (or at least close). If I am approached to sell a product that fits into what my customers look to me for I'd want the person to spit it out and be straight up. Because I am approached in a business like manner does't mean I can't build a relationship as that discussion goes on. In fact I can tell a whole lot about a person from how business like their approach is.

Great point about future cross sells though.

The point is to ask open ended questions that keep the conversation flowing. You can ask anything you like as long that it's about them and them only. However if you were at a networking event and you were in a cool conversation with someone and they asked you, “What advice would you give future entrepreneurs?” I think you would be glad to answer the question with no problem. C'mon man let's keep it real haha!

eBizSuccessCoach · 11-11-2009, 10:48 AM

Quote:

Originally Posted by LazyMogul.com

Nicely done, Judah. kudos ;-D

Thank you kindly

eBizSuccessCoach · 11-11-2009, 10:49 AM

Quote:

Originally Posted by Always-A-Warrior

Thanks Judah. Great info.

I appreciate that. Thank you!

eBizSuccessCoach · 11-11-2009, 03:39 PM

Everybody should be doing JV's at some point in their business!

Mike Anthony · 11-11-2009, 05:12 PM

Quote:

Originally Posted by eBizSuccessCoach

. However if you were at a networking event and you were in a cool conversation with someone and they asked you, “What advice would you give future entrepreneurs?” I think you would be glad to answer the question with no problem. C'mon man let's keep it real haha!

Its cool but I am keeping it real. I realy wouldn't want anyone calling me asking that. We are all different I guess.

eBizSuccessCoach · 11-12-2009, 12:03 AM

Quote:

Originally Posted by Mike Anthony

Its cool but I am keeping it real. I realy wouldn't want anyone calling me asking that. We are all different I guess.

Now I can agree with you on that when talking about phone conversations. Most times we don't have that kind of time when talking to random strangers over the phone so i see where you're coming from.

I guess that would be a good question to ask before ending the call. If you were going to ask that question you could always reword it too...

"Before we end this call, what kind of advice would you give an entrepreneur like myself about success and business?"

eBizSuccessCoach · 11-12-2009, 04:57 PM

Quote:

Originally Posted by albertjone125

Trusted JVs play vital roll to promote their product and services via vary way. This post no doubt has a lot of good advices relates to Joint ventures. We should to establish JVs towards their business

Best

I appreciate the fact you found my post helpful. Yes we all should be looking more deeper into setting up JV campaigns for our business. In my opinion it's a MUST!

mandela10 · 11-14-2009, 12:58 AM

There is a great conversation going on here. A lot of useful information. I am currently looking for someone to grow my business with and execute ideas together but I haven't had a lot of good experiences with JVs which also kinda make me cautious about this a little bit.

eBizSuccessCoach · 11-15-2009, 05:33 PM

Quote:

Originally Posted by mandela10

There is a great conversation going on here. A lot of useful information. I am currently looking for someone to grow my business with and execute ideas together but I haven't had a lot of good experiences with JVs which also kinda make me cautious about this a little bit.

There is a good conversation going on here and we would love for you to join in haha. I'm glad you find this thread very useful. We all should be looking for potential JV partners as this method is one the most profiable ways to grow your business - by leveraging the customer lists of your JV partners. It's it's free advertising

Could you please share with us some of the problems you've had in the past with JV's and why do you think those problems occured? This too would be useful information as we will know what to avoid when dealing with potential JV's.

krismatthews · 11-21-2009, 04:31 PM

Thanks Judah- I understand the basic principles, but I have the following question: On that first call, should we not even mention anything about a partnership? Like are we just calling to say, "Hi" or what?

Thanks for clarifying,

Kris

briantracyjointventure · 11-21-2009, 06:19 PM

Thanks for this post Judah, you are providing real value here. This is the first thing that I did not understand about JV'ing that I quickly learned. It's about the relationship. I believe you also have to keep the relationship going well after the first offer, because if you decided to do another Joint Venture with different product or re-send the same product to the list...

Great post. Cheers!
:jsr

11-05-2009, 11:09 AM	#1
eBizSuccessCoach Judah Swagerty Join Date: Sep 2009 Location: Tennessee Posts: 74 Thanks: 0 Thanked 8 Times in 6 Posts Social Networking	How To Build Powerful JV Relationships Have you ever thought about doing Joint Ventures but never knew how to begin? What is a Joint Venture? It’s when two or more companies come together to form a temporary partnership for one or more projects. Let me explain something before you even begin. Most people think you can just send out hundreds of emails to prospects and they’ll jump on your offer like white on rice. IT JUST DOESN’T HAPPEN THAT WAY! If this were so, everybody would be profiting big time with joint ventures. You can’t just send out emails to people asking them to promote your product to their list or place an exit pop-up on their ‘Thank You’ page of their order form. Smart business professionals will simply delete your message and continue on with their lives. You have to build a relationship with them first! Why? Because they don’t know you. People want to do business with people they know, like and trust. Any smart business owner will not promote your product if they don’t know who you are and if your product is legitimate. They don’t even know if your product or service will convert browsers into buyers. They’re not going to risk ruining their reputation on some sorry product that will put a virus on their customers computer or something even worse. What if you don’t ship your product? What if you don’t deliver on your promise? These are the type of questions that will be going through your prospects mind. You have to build relationships first and then pitch your product for the joint venture later. Building a relationship could take days, weeks, or even months. Here are a few steps to jump start your JV campaign: Step 1: Locate potential prospects and sign up for their newsletter to see if their customers are the same customers that will be interested in your product or service. It will be a waste of your time and your prospects if your product does not relate to your prospects target market. Do some research and sign up to their newsletter. This will be a great way to investigate your prospects customer database. Visit www.Alexa.com and download their tool bar. For every page that you land on, the tool bar will give you that sites traffic rank and company information. Step 2: After you’ve located potential prospects and signed up for their newsletter it’s time to call them. Yes that means picking up the telephone, pressing the keys, and talking to them verbally. Don’t send out emails. Overcome your fears and call them. Be polite and make sure your not interrupting your prospects. Their time is important just like yours. Ask then questions about their business and how you like the content of their website. Complement them on the great work they’ve done. During your conversation you should be asking questions 99% of the time. You need to become the listener and never interrupt. Why? First off it’s rude to interrupt and at this point, your prospect doesn’t know you and therefore doesn’t care about you or your business. The goal is to build a rapport and get them talking about their business and their accomplishments. Everybody loves to talk about themselves when giving the opportunity. Remember, people want to do business with people they know, like and trust. During your conversation ask open end, emotional questions like; “How did you get started in your line of work?” “What sets you apart from your competitors?” “What advice would you give future entrepreneurs?” And the most important question; “How can I tell if someone I know or meet is a good prospect for your business?” This question is very important and you should ask it with great interest. You have just told your prospect that you care about them and the success of their business on the first call without looking for anything in return. Asking questions like this and building a positive relationship with your prospect will result in direct business and tons of referrals for you in the future. Step 3: After the conversation it’s time to follow up with an email or postage note. Mail the note the same day of the conversation. This note does not have to be long, in fact it should be about one sentence long. If you use a postage note, I recommend you use a postcard (8 x 3.5 inches) with your picture and business contact info or notepad with the same contents and MAKE IT PERSONAL. When writing your follow up postage note, use blue ink (studies show that blue ink is more effective than black ink or any other color). Your note should read; “Hi Joe or Jane (Mr. or Mrs.),Thank you. It was a pleasure speaking with you over the phone. If I can ever refer business your way, I most certainly will.” I suggest you place your postcard in a number 10 envelope hand addressed and hand stamped. Do not use a impersonal mailing label or postage meter. KEEP IT PERSONAL. Follow up with your JV prospects and all other contacts on a consistent basis. Consistency separates the rookies from the pros. What category do in fall under? Step 4: After you’ve built a relationship with them and it‘s the RIGHT TIME, pitch your joint venture offer. Offer them a commission of 50% or even 75%. You have to remember something. Once their customers buy your product, their customers now become your customers and you can up sell back end products to them forever… and keep 100% of the profits! Be generous with the commission structure. They’ll appreciate it. A good commission structure will also motivate them to promote your product or service. Make sure you have a sales letter that converts. By this point, you should have tested your sales letter and have statistics to prove it. If your sales letter does not convert, you risk the chance of losing your JV prospect forever and ruining you image by looking unprofessional. I suggest that you try to set up at least 12 JV’s to really explode your sales and build future relationships with your prospects. Once you’ve built a relationship with your prospects, you have a proven sales letter that converts, you deliver on your promise, and you offer your prospects a generous commission…. they’ll be eager to promote your product well into the future for many years to come. This means more leads, more sales, and FREE ADVERTISING
	Judah Swagerty, www.eBizSuccessUniversity.com Who Else Wants To Know The *Secret Formula* To Increased Web Profits Without Ever Asking Your Customers To Buy Your Product. Make An Extra $1,000 per Month -- FREE VIDEO Reveals All -- Click Here Now

11-05-2009, 11:46 AM	#2
adamchandler Warrior Member Join Date: Nov 2009 Location: Fort Collins, CO Posts: 21 Thanks: 0 Thanked 0 Times in 0 Posts Social Networking	Re: How To Build Powerful JV Relationships Wow.. Judah This is some extremely helpful information especially for people like myself who is just getting started in the JV world. So, do you think you could promote one of my products?.. Just kidding.. I read every word of your post and greatly appreciate the advice. It makes a lot of sense.. People do business with people and not with websites so it does not matter how great your offer or product is if you do not add the human element and connect on the phone and show a genuine interest in that persons business. Thanks again for the great tips and advice.. -Adam
	Adam Chandler All Around Bad Ass support@adamchandler.net http://Twitter.com/AdamChandler

11-06-2009, 05:24 AM	#3
eBizSuccessCoach Judah Swagerty Join Date: Sep 2009 Location: Tennessee Posts: 74 Thanks: 0 Thanked 8 Times in 6 Posts Social Networking	Re: How To Build Powerful JV Relationships Hey Adam, Thanks for your wonderful comments and I'm glad you found my article helpful. You are right, we don't do business with websites but with people and if we can build more qaulity relationships with people then our internet businesses will have no limits. Good luck on your joint venturing my good friend.
	Judah Swagerty, www.eBizSuccessUniversity.com Who Else Wants To Know The *Secret Formula* To Increased Web Profits Without Ever Asking Your Customers To Buy Your Product. Make An Extra $1,000 per Month -- FREE VIDEO Reveals All -- Click Here Now

11-08-2009, 02:42 PM	#4
affmillionaire Warrior Member Join Date: Jul 2009 Posts: 13 Thanks: 0 Thanked 0 Times in 0 Posts	Re: How To Build Powerful JV Relationships Hi Judah, This was an excellent post, well worded advice and immortal messaging. I hope it will stay with me forever. A JV relationship continues to be quite precious and fragile so I believe that your message should be placed in lights at the beginning of the JV Partner Forum ;-) Regards, Alvern
	Get 30,000 targeted visitors every day on autopilot!

11-10-2009, 11:05 AM	#6
Mike Anthony Doing it The Right Way War Room Member Join Date: Aug 2009 Posts: 435 Thanks: 36 Thanked 51 Times in 41 Posts	Re: How To Build Powerful JV Relationships Some good advice there but some of those questions would annoy the life out of me. Its almost like you are asking to be coached particulalry “What advice would you give future entrepreneurs?” As a programmer that develops and sells quality products the last thing I want to do is grovel or have someone grovel at my feet. I'm a bottom liner. What do you have to offer? What are you asking me to offer? From there I want to check credibility and cover myself where I have concerns. So I get the whole build relationships thing but honestly with the quality I put into my product I would want a relationship where the JV partner values my product just as much as I value his list (or at least close). If I am approached to sell a product that fits into what my customers look to me for I'd want the person to spit it out and be straight up. Because I am approached in a business like manner does't mean I can't build a relationship as that discussion goes on. In fact I can tell a whole lot about a person from how business like their approach is. Great point about future cross sells though.
	New! Automate your Backlinks and get tons more for free Tired of Seeing Your Backlinks REMOVED or ABUSED? Finally A Powerful Backlink List with Protection.

11-10-2009, 09:21 PM	#7
LazyMogul.com Lazy Mogul Join Date: Sep 2009 Posts: 23 Thanks: 0 Thanked 1 Time in 1 Post	Re: How To Build Powerful JV Relationships Nicely done, Judah. kudos ;-D

11-11-2009, 12:28 AM	#8
Always-A-Warrior Once A Warrior Join Date: Aug 2006 Location: Hawaii Posts: 495 Blog Entries: 1 Thanks: 6 Thanked 10 Times in 8 Posts	Re: How To Build Powerful JV Relationships Thanks Judah. Great info.
	JV Partners Wanted

11-11-2009, 03:39 PM	#12
eBizSuccessCoach Judah Swagerty Join Date: Sep 2009 Location: Tennessee Posts: 74 Thanks: 0 Thanked 8 Times in 6 Posts Social Networking	Re: How To Build Powerful JV Relationships Everybody should be doing JV's at some point in their business!
	Judah Swagerty, www.eBizSuccessUniversity.com Who Else Wants To Know The *Secret Formula* To Increased Web Profits Without Ever Asking Your Customers To Buy Your Product. Make An Extra $1,000 per Month -- FREE VIDEO Reveals All -- Click Here Now

11-14-2009, 12:58 AM	#16
mandela10 Persistence is my way out Join Date: Aug 2009 Location: Florida Posts: 31 Thanks: 0 Thanked 2 Times in 2 Posts	Re: How To Build Powerful JV Relationships There is a great conversation going on here. A lot of useful information. I am currently looking for someone to grow my business with and execute ideas together but I haven't had a lot of good experiences with JVs which also kinda make me cautious about this a little bit.
	Excellence is doing a common thing in an uncommon way.

11-21-2009, 04:31 PM	#18
krismatthews Warrior Member Join Date: Nov 2009 Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts	Re: How To Build Powerful JV Relationships Thanks Judah- I understand the basic principles, but I have the following question: On that first call, should we not even mention anything about a partnership? Like are we just calling to say, "Hi" or what? Thanks for clarifying, Kris

11-21-2009, 06:19 PM	#19
briantracyjointventure Warrior Member War Room Member Join Date: Nov 2009 Location: San Diego Posts: 9 Thanks: 3 Thanked 0 Times in 0 Posts Social Networking	Re: How To Build Powerful JV Relationships Thanks for this post Judah, you are providing real value here. This is the first thing that I did not understand about JV'ing that I quickly learned. It's about the relationship. I believe you also have to keep the relationship going well after the first offer, because if you decided to do another Joint Venture with different product or re-send the same product to the list... Great post. Cheers! :jsr