Real Joint Venture Partnership Deals

It seems with all the ramped internet marketing launches and social networking, traditional joint venture partnerships are getting thrown by the waste side. What is it about the internet, today, that causes so many people to throw away good relationships. Greed and the desire to acquire internet riches is truly taking its toll on so many entrepreneurs.

If you are an independent, seasoned or, young entrepreneur please read this post in its entirety. I’m going to take you through some simple thoughts and experiences that will allow you to create successful joint venture partners.

First step…

Decide Who Your Ideal JV Is

It amazes me how many business owners will spend a year or so creating a new product or, hours communicating their message on Twitter. How about those who spend eight hours on You Tube? It’s amazing. Yet, entrepreneurs today seem to spend less time approaching potential Joint Venture Partners than they do eating their breakfast. I swear, if I was their business consultant I’d slap them with a wet noodle until they curl up in the fetal position sucking their thumb, crying for mommy.

In order to find the appropriate JV partner for your direct sales strategy, you must first take the time to look for the right, qualified Joint venture partner for your deal. Start by creating a wish list. It’s simple. Go to Google.com and type in the name of the number one person in your industry. Don’t worry whether you will actually find a way to communicate with that person, this is simply a way to get you motivated to look.

Now look at the listings in Google that appear in the top ten, on the first page. Most of those listings are going to be blogs, articles, videos and more posted by individuals within the same industry as you. I’m truly not concerned with landing a JV deal for my direct sales strategy with the top leader in my industry (although DA’YAMN that’d be nice). I’m simply looking for other authority figures in my industry.

JV Partner with Your Competition

I know it sounds screwy, but your competition is your best JV in the direct sales industry. Why? Simply because they are always looking for something new to sell to their clients, customers or subscribers. It’s not easy to continuously find high converting products that contribute value to our lists. But, it is much easier if someone else approaches us with a product that will provide a valid solution for our customers.

The thing is, many entrepreneurs will email those people and write, “Hey there Joe, Bob Yeager here and I was just looking at your website. I just created a new product that I know you could easily sell to your list and I’ll split the profits with you 50/50.”

BZZZZZ… WRONG APPROACH.

Here’s my approach to creating “Co-Opetition” with JVs for my Direct Sales Strategy.

“Hi there Joe

Bob Yeager here, founder of The World Entrepreneur Success Training Program. As I was teaching a lesson to my students, I came across your site. I was pretty impressed by the SEO that’s been done. I did notice a few things that I’d change to make it a bit better and then I had an idea.

If I were to have my marketing firm and SEO guys write up a full scale critique for you, at no cost, would you be willing to sit down and record an interview with me? I know that we could drum up an awesome video interview and I’d even be happy to give you a copy. Your subscribers would benefit and so would my students.

Let me know what your thoughts are and you can call me tomorrow at my home office at 555-555-5555.

Thanks and I look forward to speaking with you
Bob Yeager
Founder of The WEST Program and
eWeb Marketing Management.

Alright, did you notice what I did. First off, I complemented him on his site but also pointed out there were a few things that could be done to make it better. Instead of using the approach of trying to sell him my firm’s services, I simply offered a free critique with a strategy that he could implement… at NO cost. (FAVOR #1)

Then, I implied that he is an expert. How did I do that? I asked him to do a video interview with me. There is nothing else in this world that internet marketers and sales people like to do more than talk about what they are good at! Then, I said I would even give him a copy of the video for his subscribers and implied the value it would generate for his list and my students.

How many times did I mention that “we could make a ton of money”, or, “I have a new product that would be a good fit for your list?”

That’s right… ZERO.

When approaching JV Partners for a direct sales strategy, the strategy starts before you ever communicate with them. First it’s a matter of mapping out who your potential Jvs are. Then, simply offer to lend a hand with something that would create value for them. Then, over deliver and stack the value. Then, offer something that would contribute value to their customers… with no strings attached.

Where’s the JV for My Direct Sales Strategy?

It’s simple really. During the course of planning the video interview, when Joe calls, ask him more about his business and the history of his company. This will immediately tell you more about the trends in his business. Then, ask him if the business is tough to run or, is their plenty of time for family life. This doesn’t come across as prying, remember you are getting ready to record an interview with this guy, it will simply come across as great content for the interview.

Then, record the interview. You could use oovoo.com or, if you are in the neighborhood, record it live. You could even offer to do a live teleseminar or webinar. The better the experience, the better the interview is going to be. Once you are through recording, give Joe a definite date that the recording will be available (better sooner than later).

You will now be approaching your third point of contact. Send Joe the video download information. Then, tell Joe that you’d like to give him a call because he mentioned something that peaked your interest. When you get on another call with Joe, ask about his new product or service and if he has launch or affiliate campaign planned in the near future.

Obviously he is going to say yes or ask if you are interested in promoting. Say yes and I’m working on something as well that may prove to be an awesome reciprecol mailing. Do you think Joe is going to say NO to mailing something to his list for you… after you work on HIS launch with him?

There is nothing like self-implied obligation to create a great JV for your direct sales strategy. Look, it’s not rocket science, it’s all about contributing as much value to a potential JV partner as you would like for them to contribute to you. Also, think about what a great relationship you have built and how Joe is going to speak about you to others in your industry.

Feel free to fill in the newsletter form at the top of this site for new video lessons, awesome strategies and stay up to date with the content on this site.

Hope this helps you as it has with my business…

Bob Yeager

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3 Reasons Why Companies Twitter

You’ve heard all the fuss about Twitter and wonder what can an entrepreneur, a large company, mid-size/small business or a solopreneur (where you are your business) can gain from using Twitter?

#1 – Building Followers

The other day we heard an interesting story of a company called Kogi Korean Barbecue. They have a truck that drives throughout the Los Angeles area catering to night-time customers that want food to come to them. Due to traffic and other unforeseen delays they were not always in the same place at the right time.

They started to think Outside-The-Box… a light bulb went on and they started using Twitter to add up-to-date information on where they were at, going to be next and if there was a delay. Doing this they have created a following of over 31,000 in their niche and have grown their business.

#2 – Customer Service

You’re thinking how do you use Twitter for customer service? We here at EwebMM know how to keep an eye on what people are saying about your company or you on Twitter. Whether this is positive or negative feedback, both are important in responding to.

ComCast was keeping an eye on what people had to say about them and wanted to improve their customer relations. Their goals of wanting to listen to the feedback and help their customers in any way they could really improved their customer relations right there and then. They now have over 22,000 followers and are showing their customers they care!

#3 – Finding Prospects – Leading To Sales

Through Social Media it is about growing and building relationships. Some people all they do is market and push their products constantly. It’s kind of like being in the store and the customer service person keeps suggesting this product or another. You just want them to go away.

First it is important to pinpoint your potential customers by finding out the prospects that need a solution to what your product or service is offering. Then engage people, offer a solution, run contests & offer coupons. As you do this, people will retweet your offers & contests and this can grow exponentially driving more business & sales to you via Twitter followers and email sign-ups on your website.

Recently SoupPlantation and Sweet Tomatoes restaurants launched a social media campaign.

The goals of their program is to increase customer loyalty, drive store traffic & raise the general level of conversation surrounding the brand online through promotions, coupons & customer service.

Many entrepreneurs & businesses are turning to social media in helping bring in new business and take care of their existing business, they all understand why social networking & why using Twitter is so important.

CoraLyn Hughes

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