Getting Bigger Joint Venture Partners to Say Yes

You may think that the hard part is over when you have completed the research and found potential JV partners that can offer the greatest benefit to your business. However, that’s just the beginning. Once you have a list of bigger and better joint venture partners, it’s time to woo them into your corner and get them to say yes to your business proposition.

We have tips to help you hook the big companies and get them to go along with your potential JV partnership.

Know Your Potential Partner

Getting a JV prospect to say yes begins by taking the time to get to know the business so you can approach them on common ground. Look further than merely the benefits you stand to receive from the potential partnership. Consider also the advantages your prospective partner might reap from working with you. Get a good feel for the demographics of their customer base and how well it matches up to your own. Know their product and their reputation so you can wow them with your knowledge of their business from the very first contact you have with them.

Get Personal

Canned email or even snail mail propositions to JV partners do not typically work, primarily because they are too easy to ignore. Forget the written correspondence and instead, pick up the phone and call a prospective partner. You can use the personal phone call as a follow up to a personalized email if you prefer, but direct contact between you and your JV prospect is a must if you want another business to sit up and take notice of your company. The more time you take to craft a professional, thorough agreement with a prospective partner, the more likely your prospect will sit up and take notice of you.

Show the Benefits

Sure, the primary reason for a JV partnership is to grow your own business, but you’ll be more likely to gain a partner if you show what you can do for them. You might be thinking that you don’t have anything to offer a larger, more established business, but think again. You can always offer up a share of your profits and perhaps a relatively large share, if you are a very new business with few assets under your belt at this point. Don’t despair over the idea of giving a significant amount of you money to a JV partner; you will more than make up the difference with a larger customer base and increased sales.

Landing the big businesses for your JV partnership isn’t difficult, but it does require a bit of marketing savvy to ensure it is successful. Spend the time researching and putting in the necessary footwork at the beginning to find the best partners and craft a professional, beneficial agreement that your prospect will be sure to notice. With these tips in mind, you will be more likely to sniff out and attract the best businesses to effectively build your customer base, sales and bottom line.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

How to Nurture Trust in Your Joint Venture Partnership

Investing in a joint venture marketing partnership is a great way to build the trust of customers and increase your bottom-line overall. However, before you can nurture a relationship with customers, you must first build trust and confidence with your potential JV partners. This article will cover some of the best ways to build trust among the members of a JV partnership.

Building Trust in the Value of Your Business

If you are just beginning the process of establishing JV partnerships, you will need to start by demonstrating your authenticity and credibility to other companies. This can be done in a number of ways:

• Show customer testimonials that attest to the value, quality and honesty of your business.

• Obtain positive press coverage about your company and the products or services you offer.

• Show endorsements for your company that have come from other respected individuals in your field.

Even if you successfully demonstrate the legitimacy of your business, you may have to resort to offering a large amount of benefits to another company at first to offset the risk they are undertaking. This may include providing a significant portion of your profits in return for the advertising and endorsement you receive from your JV partners.

Building Trust between Partners

Once you have found potential joint venture partners who are interested in working with you, it’s important to build and maintain a professional and trusting relationship between partners. The techniques for nurturing your JV partnerships are the same used in building any type of professional relationship and include:

• Keeping your word, which means never making promises you aren’t sure you can keep

• Always telling the truth to partners, even if it isn’t something they want to hear

• Maintaining an air of confidentiality between you and your JV partners

• Keeping open lines of communication, so your partners never worry that you’re hiding something from them

• Always returning calls and emails promptly, so your partners know you are available and accessible to them

• Never talking about another company behind the back of the business owner, particularly when the information is negative or confidential in nature

By performing in a professional manner consistently, your prospective and current JV partners will come to know you as a business owner with integrity and honesty. The longer they work with you on this level, the easier it will be to trust you in all the business dealings the two of you are involved in.

A JV partnership is about much more than making a buck; it is about building professional relationships that will stand up against time. When your JV partners trust you, your business and your motives, you’re doing more than nurturing that particular relationship, you are establishing yourself and your company as one that others will be willing to work with thanks to your integrity, honesty and professionalism. A trustworthy business is one that is worth its weight in gold, and one that will continue to thrive in all sorts of economic climates.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Getting a “Yes” from Joint Venture Prospects

If you have ever tried to win over a JV marketing partner, you know this process is easier said than done. Many business owners get discouraged when companies turn down their offer for a joint venture partnership. The good news is that “no” doesn’t have to mean “no” in all cases. This article will provide tips from turning an initial “no” from a prospect into a “yes” and a profitable partnership for both businesses.

Stand Out from the Crowd

The first step in getting a “yes” is to get noticed right from your first contact with the company. However, standing out from the crowd is not easy if you’re pursuing a large established business that gets many JV offers every month.

A good first step is to approach the company with something you can do for them, whether it’s to write a blog, design a web page or complete another task the business would find helpful. In a business atmosphere consumed with “me-ism,” asking what you can do to help is a good way to get noticed.

Build a Relationship

By working with a company in the manner listed above, you are also embarking on a relationship with that business. Since one good deed usually deserves another, a business that has received your favor is more likely to look favorably on you. Building a relationship with others in your industry allows you to effectively network within your niche to find assistance with your needs. This includes forming JV partnerships with bigger, more established companies that are acquainted with you and your business.

Be Prepared to Give

When you are a new business, few companies will give you the time of day unless you promise a lot in return. It may appear that you are giving away the farm just to get your name on a well established website, but the initial outlay of energy and profits will be worth the long-term results. Once you’ve effectively built up your customer base, you can back off on your JV partnership, enjoying a larger amount of business thanks to the new customers your partner helped you attract.

Follow Up

Follow-up is often an art that gets lost in the busy business world we work in today. However, persistence is still the one virtue most likely to pay off when you are trying to work out a JV deal with another company. While you don’t want to pester another business owner to distraction, a few well-placed phone calls or emails can go a long way in keeping your name at the forefront of CEO’s mind.

Upsell when Necessary

If you feel you are getting close to nailing down a particularly attractive JV prospect, don’t be afraid to upsell a bit if you think a little extra push will close the deal once and for all. This means keeping a small arsenal of enticements beyond your initial offer so you are prepared to give a little extra when warranted.

JV partnerships aren’t always easy to land, but they are far from impossible. Even the initial “no” can become a “yes” with some effective coaxing. With these tips in hand, you will be ready to approach any joint venture prospect with professionalism and confidence.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

How To Make Money From Your Passions

To make money online many people jump right in before they are properly prepared. You know that to be a rocket scientist, a doctor, a brick layer, a construction worker, an office worker, a teacher there are prerequisites, things you must learn, before you can be successful, you don’t just jump right in unprepared.

The same applies to the Internet marketing industry even though there are unsavory people out there who’d have you believe it’s a “Walk in the Park” and requires no more than the belief that you can just do it.

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And I’ll have to admit, it is a walk in the park compared to what you have to put up with in the working world punching a clock being a subordinate to someone who does not have your interests in mind, but there are still rules you have to follow and pitfalls you must avoid to actually make Internet marketing work for you.

Most people will not make a dime online and yet there are others who will make more in one month than most people make in a whole year. Why is that?

My answer begins with the age-old chicken or egg question, “what comes first the chicken or the egg”? Personally I vote for, well never mind, each argument you or I make comes back to the same old conclusion – I have no clue and I don’t think many of us do either.

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But one thing I do have a clue about and know for sure is that to make money online you must first have Passion for the company products and/or service of any Internet business from which you expect to make money.

Passion in this sense simply means that you’ve researched and like the company and products or services. It is then that you translate that like (or Passion) into the education, excitement and work that usually accompany Passion.

I will have to say that many online entrepreneurs are so good at what they do that they ignore passion because they can sell anything. But I’m concerned about those of you who are not so knowledgeable at working an online business successfully.

Now, I’m not trying to make anyone believe that Passion is the only thing necessary. Because to be successful you must also have a good website, good marketing, widespread advertising, company support, effective keywords, and etc. Those things are often learned from the company you join – but sidestep Passion and you reduce your chances for success dramatically.

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It therefore follows that, if you have no Passion for the company and the products and services provided by that company, again, you won’t attempt to do the work you are being taught.

Internet marketing work is typically not all that difficult or time consuming but it does take motivation caused by Passion to get you off and running with a sustained effort so that you won’t stumble.

You have a great resource in the Internet search engines to search about the Internet Marketing industry for business opportunities, USE IT!

Your research should uncover a company that you like and have confidence in. It should be solid, founded on great principles, and easy to understand with great products and services that are sell-able for which you can have Passion. If you don’t find it move on,
You can find the right opportunity containing the attributes identified above.

Comments like, well, that one sounds good and the compensation plan is excellent so I guess I’ll start that business – does not sound like a decision based on anything near Passion. And remember when you hear that an Internet “guru” does that, don’t be tempted, because as I said earlier they are experienced and can sell just about anything, without being Passionate about the company products and services.

Note: By the way it’s your goal to get to the point where you can sell about anything online. That end skill and goal is a worthy one indeed.

Remember, there are other steps you must make before you step into Internet Marketing but if you don’t first find the right company products and services to be passionate about, all of those other steps may just cause you a lot of frustration instead of bringing you great success.

Not being Passionate about a company and products and services that has market proof that it will sell is a pitfall you simply must avoid.

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Discover Underutilized Assets In Your Business

Which one are you?

A Business  Owner?
An Employee?
A Consultant?
A Single Parent?
A College Student?
A Grand Parent?

Regardless if you have an existing business, are an employee of another business, are a consultant, or you’re someone who’s considering starting your own business, Joint Venture Deal Making can be one of the most profitable ways available to you to create “Income at will”. You don’t need any special education or lengthily training.  You can start putting deals together with just a few hours a week. Once you understand the fundamental mind set of doing Joint Venture deals, you may just rethink the way you do business or create income for the rest of your life. It’s that powerful, diverse, exciting, and profitable.

If you’re a business owner, you can implement a Joint Venture Marketing strategy to create new profit centers with little to no money or risk. If you don’t have an existing business or you’re an employee of another company you can broker deals with your employer or create an additional profit center outside your full time job.

Let me fill you in on an overlooked and underutilized fact about 95% of all businesses out there (this is were you come in). It’s something so fundamental that it’s often overlooked and not given nearly the amount of attention, care, and time that’s needed to create additional profits.

Ready…

“The majority of all business’s have underutilized assets”

That may not be very exciting at first read, but let’s dig a little deeper. These underutilized assets represent huge opportunities for additional income for you.

Let’s define what an “asset” is.

A quick Google search defines an asset as being:

1.    Anything owned by an individual or a business that has commercial or exchange value.
2.    A possession of value, usually measured in terms of money.
3.    Valuable items, encumbered or not, owned by a person, corporation, or entity.

So it’s basically something of value that a person or business has that is not being optimized.  Now remember I just told you that the vast majority of business owners have “underutilized” assets. This is where it get’s interesting. This is where you can provide a way for these business owners (and yourself) to create income from the sale of their existing products or services by combing other complimentary type companies “assets” with their “assets”.

Let me give you some background and a quick example of what an underutilized business asset is.

“Simon opened his Web Design Company with a passion for creating websites, logos, and custom graphics for his clients. Simon was a skilled graphic designer, but his sales and marketing skills were based solely on theory and what he learned from a few books he had recently read. Simon wanted to do a promotion offering 25% off his services for new clients. Simon and I had a conversation about this promotion and asked me my advice and thoughts on this type of promotion. His objectives were to find new clients quickly without spending a lot of money on marketing. I told him that he had two primary objections to overcome since his business was new, he currently had only one client and his competition in the Web Design space was fierce and while competing strictly on a discount price point may work, I suggested he use a Joint Venture Strategic Alliance to keep his prices at a competitive market rate to obtain new clients.”

So we see that Simon has an underutilized asset, his time and his Graphic Design services. He’s only got one major client, which is a dangerous thing for Simon if that client decides to go elsewhere and stop using Simon’s services.

Remember when I said that a Joint Venture deal is about combining underutilized assets? Well, in this scenario lies your opportunity to make extra, recurring, residual income.

Let’s continue with the story.

I suggested Simon call local printers, illustrators, and web programmers in his area. I had him pick local vendors (so he could actually go meet these other business owners, which builds rapport and trust) that work in complimentary, not competitive businesses. Simon contacted a local print shop, introduced himself and offered to provide a “Web Design” division to the print shops existing base of over 300 clients. Within one week, Simon and the owner of the print shop wrote an email letter to his existing clients announcing the new service. Within two weeks Simon gained an immediate influx of client requests with an acquisition cost of zero!”

So you can see how Simon used his underutilized asset, his time and Graphic Design services to incorporate into the printing companies underutilized asset, their existing clients. This is only one type of Joint Venture scenario that can generate additional income very quickly. Simon only did this type of deal with a single company. What if he did it with 5 other companies that offered similar type services?

If your thinking, “Christian, that sounds all good and interesting, but how does that effect me or my ability to make more money?” Good question. This is why I asked you at the start of this conversation about “Which one are you?” You see, it doesn’t matter if you have an existing business or if you’re an employee, a student, or even if you’re currently unemployed.

Please take what I’m about to tell you very seriously…

“Just about every business owner is silently begging to find new clients”

Read that 5 times.

Business owners are constantly trying to increase their profits from their existing clients, yet they’re so busy running their companies, they don’t spend nearly enough time on this. This is where you can earn extra money, possibly a lot of money if done consistently and executed correctly.

Take a look around you and see if you can find any businesses that you know of that have underutilized assets that you can recommend to other companies. As I said, just about every business out there either needs or has assets that other companies can benefit from. You just introduce the two companies and make a profit for structuring the deal.

I hope this has gotten you intrigued about the possibilities of using Joint Ventures to create additional income for yourself in a very short amount of time.

I’ll be showing you many, many more examples of how to create these types of profitable relationships in the days to come.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report