How to Approach Joint Ventures the Right Way

August 31, 2012 Posted by The BVB Team

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If you want the top tier people in your industry to build your list and business for you…

• Then first, you need an irresistible offer.
• Second, you need to make it super easy for them.
• Most importantly, you will probably have to totally shift the way you are currently thinking about Joint Venture Partnerships.

If you want to build your business using JV Partnerships, stop whatever else you might be doing and listen to this week’s expert, Glen Ledwell.

BVB: Hey Glen, tell me… what is working for you right now in your business?

Glen: If I had to say one thing about what’s working right now, what was working 5 years ago, what will always work… it is Joint Venture relationships. Of course, they have to be done right. We built our business with 80-90% JV traffic. So, I think we are doing it very well.

BVB: What are the specific results you and your company are seeing from this strategy?

Glen: Well, we have doubled our business every year in three years.  We’ve built a really sizeable company off just the back of JVs. So that’s pretty amazing in itself…

It’s really not hard. I wouldn’t suggest people ONLY using this strategy, but it definitely is simple to do.

To me, it’s the simplest way to get traffic, because there’s no risk involved. People get caught up in this “If you sell $1000 product, and you pay $500 to an affiliate, then you pay $500 per lead.”

That makes sense, right?

BVB: I think you are going somewhere with this…

Glen: Yes… It doesn’t!

You’ve paid NOTHING for the lead. And you’ve made $500 in profit. And I’m not saying the other way to look at it is incorrect, but if you try it any other way you can be risking that money up front and you might not make any sales.

That’s the reality.

All forms of paid traffic – if you can break even on the front end, that’s a really sweet deal. With JV traffic you always make money and you risk nothing. It shouldn’t be the be all end all, but it’s definitely the best way to start, and it’s something people should try out.

BVB: So why do you think this is a strategy that’s working right now?

Glen: It’s always going to work.  If you build a relationship, it doesn’t deplete over the years, it gets stronger. Same with this. You make connections, form bonds, and you have guaranteed, predictable traffic for free as long as you know that person. You have 100, even 20, you have a real business.

BVB: And how do you build a relationship in this context?

Glen: You think about what your currency is, you approach somebody with an irresistible offer, and you have to be creative with that!

You may not have a big list, you may not even be a great marketer. So be creative. Think about what is in it for them. That is the emphasis. Give. Give. Give. Then ask.

People really miss that. They approach people by sending them their product, and they might say “I thought this might be a good fit for your list.” How would you respond to that? We can’t focus on “What’s in it for me.” I learned that VERY quickly.

Think about your currency. Generally, it’s your list. And you can say, “Hi… I have a 20,000 person list, and I would love to promote your program.” Do you think you are getting an email back about that?

Yes.

No matter who sent that email, my marketing manager would be getting on the phone with them.

Instead people think, if they could just see my program or product, then they would want to promote it. But that is not the reality. The product being good is an absolute given. Don’t even send an email unless its good and you can back that up. The product is just how they will facilitate making the Joint Venture transaction work.

BVB: What if you don’t have a 20,000 person list? Then how can you approach potential partners?

Glen: You could say something like “I love your marketing, I love your programs…. I have them all…” And then of course, HAVE them all.

What marketer doesn’t love to be told his marketing is unbelievable?

These kids on Facebook approach me and tell me things like that, and I give them $10,000 advice for free – because they fluff my ego! It’s amazing! And it works. So that’s one strategy if you don’t have much else.

If you do have stats, of course, give those.

And if you don’t – if you can’t guarantee or prove any success rate… then give them 100% commission.

What a thought!

You build your list for free that way.

And then you have currency.

And you are taking some of the risk out of it for them. They will always say yes to that, so do it if you’ve tried everything else first.

The risk is always on the person doing the mailing, so you’ve got to always remember that.  No matter WHAT the commission is. So you have got to tip the scales. Then people will start to see you as someone who “Gets it.”

BVB: So Glen, how did you become someone who “gets it?”

Glen: Well, I’ve always lived my life biting off more than I can chew, and then chewed like hell! I never have stopped. Before I even understood what we have been doing with this business, it was resilience, my “no option for failing” attitude. Now that I know all the ways we should have failed, I never would have done it! But ignorance is bliss sometimes. Most people think too much and it stops them. I don’t ever think “What if.” And that makes it impossible to fail, not stopping.

BVB: This has been great Glen! And I must say, pretty funny too…

Tribe, have you done a successful JV before?

We would absolutely love to connect you with all your perfect partners…  and we will if you are here in November!