7 Joint Venture Tips, for the JV hopeful...
For those that are still wishing, and those that once did wish, we all can remember the days that we sat and hoped that a Joint Venture prospect would come around and say "ok!" to the mailing of our product to his 50,000+ list that converts at 8%...
In reality, this doesn't happen much... but let me give you a few tips that i use to score really great JVs.
Tip #1
Do not mention money in your first paragraph. Bottom line, they don't need you at all... If you mention your split, there commission, or say, this should be an easy $20,000 for you, you come off as arrogant and a pain in the a$$ looking to make a quick buck.
Tip #2
Approach them as a buyer of their product. To be honest, you shouldn't even be discussing a JV with them unless you are on their list, have bought their product or have a previous relationship with them... This is a Unique Selling Proposition for you and your product, as a previous customer of theirs, they will be more opted to listen to your proposal.
Tip #3
Explain the why and the how... Explain to them why you think your product would be a great enhancement to their list of subscribers, explain the how... don't come to them with a similar product of theirs, but open the doors for new opportunities that can expand their business. Meaning... if you are trying to JV with Mike Filsaime, and you are trying to pitch him a new affiliate payment processor, you really think he is going to go for it...????
However, maybe if you came to Mike F, with enhanced scripts that he can integrate into PayDotCom, such as reports and tracking, this may entice his left side of the brain that speaks expansion.
Tip #4
Explain the when...this means, you are NOT suppose to contact a JV prospect two days before the launch of your product... contact them two months in advance, contact them again one month, then two weeks.
Tip #5
Your a friend of theirs, be professional, but personal. One tip that I have used in the past to score large JV prospects was to send them a personal package in the mail which included:
- JV Cover Letter
- Proposal
- Products
- Timeline
- Commissions
- Pay Schedule
Tip #6
Leverage what you have to score the JV. If you own 25 websites, offer them advertising on these sites on top of the paid commission...
If you have a membership with members, offer them a solo ad to the members on top of the paid commissions...
Tip #7
Be Creative.
In reality, this doesn't happen much... but let me give you a few tips that i use to score really great JVs.
Tip #1
Do not mention money in your first paragraph. Bottom line, they don't need you at all... If you mention your split, there commission, or say, this should be an easy $20,000 for you, you come off as arrogant and a pain in the a$$ looking to make a quick buck.
Tip #2
Approach them as a buyer of their product. To be honest, you shouldn't even be discussing a JV with them unless you are on their list, have bought their product or have a previous relationship with them... This is a Unique Selling Proposition for you and your product, as a previous customer of theirs, they will be more opted to listen to your proposal.
Tip #3
Explain the why and the how... Explain to them why you think your product would be a great enhancement to their list of subscribers, explain the how... don't come to them with a similar product of theirs, but open the doors for new opportunities that can expand their business. Meaning... if you are trying to JV with Mike Filsaime, and you are trying to pitch him a new affiliate payment processor, you really think he is going to go for it...????
However, maybe if you came to Mike F, with enhanced scripts that he can integrate into PayDotCom, such as reports and tracking, this may entice his left side of the brain that speaks expansion.
Tip #4
Explain the when...this means, you are NOT suppose to contact a JV prospect two days before the launch of your product... contact them two months in advance, contact them again one month, then two weeks.
Tip #5
Your a friend of theirs, be professional, but personal. One tip that I have used in the past to score large JV prospects was to send them a personal package in the mail which included:
- JV Cover Letter
- Proposal
- Products
- Timeline
- Commissions
- Pay Schedule
Tip #6
Leverage what you have to score the JV. If you own 25 websites, offer them advertising on these sites on top of the paid commission...
If you have a membership with members, offer them a solo ad to the members on top of the paid commissions...
Tip #7
Be Creative.
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