How to Joint Venture (The Ultimate Rapid Business Growth Strategy)
Every day we get emails from someone who wants to “partner” and leverage off our resources and client list.
AND they mess it up!!
To pull off a JV you need to ask this question…..
“What irresistible value could I gift to my prospective partner and their customer’s so they win massively upfront with no effort whatsoever (on their part)?”.
If someone approached your business and said: “how would you like to gift $20,000 worth of free X to your customers to say thank you for doing business with you?”
Would that get your attention?
What if this was taken to the next level….
“I’m looking to gift either your company, competitor B, competitor C or competitor D $20,000 worth of free X to give to their best customers – have you got 5-minutes to discuss if your company is the best choice?”
DOES THAT STEP IT UP A NOTCH IN DESIRE?
The idea of course is that this introductory gift will lead to the JV’s clients progressing to your paid services.
Unfortunately, with most JV attempts there’s very little give and at the same time, the presenter doesn’t PRIZE their offer so they become the pursuer.
So here are the rules:
1. Offer an irresistible opportunity up-front to the prospective partner – a hook that they can’t pass over and adds value to their existing customers and business.
2. Consider listing their competition as other prospects for the offer where they can see it.
3. Only take on one partner – become the prize – this way prospective partners are more likely to chase you to get this deal done and not the other way around.
4. The customer must win first.
5. Your JV partner must win second.
6. You must win third.
7. You want to do the deal again.
Hot tip*: Sometimes the best way to get in front of a decision maker on a deal like this is to get introduced by someone they trust.
Work on a relationship with a middle man to get access to the top.
AND be persistent – you want 20 deals in the pipeline for every one you want to come through, that’s the only way to stack the odds of success in your favour.
One deal can change your business forever – in 2013 we negotiated a partnership with Living Social and it was a game changer.
COMMENT BELOW or send the “Aussie Closers” a private Facebook message if you would like help with this.
By Aaron Witnish & Jack Murray – The Aussie Closers