joint venture marketing Even if you’ve never done a partnership deal before and you’re currently working for a company and you don’t have a product or service of your own, you can start the process to making a profit in less then 24 hours using partnership brokering techniques. If you do have your own product
joint venture marketing
Even if you’ve never done a partnership deal before and you’re currently working for a company and you don’t have a product or service of your own, you can start the process to making a profit in less then 24 hours using partnership brokering techniques. If you do have your own product or service you can apply the same partnership brokering strategies.
You can start brokering deals for quick cash and turn that into residual, passive income, repeat the process and compound them into $1000’s a month. This is not a difficult process once you understand the core ideology behind partnership deals. I’ve used the technique many times to generate income to the tune of $500 to $2000 per hour when the deal has run its course.
Let me give you a real-life example that identifies this partnership brokering strategy.
I’ll give one of the easiest partnership strategies that I used back in 1999 to generate $700 for 1 hour of work. When I was working in an insurance company developing a quoting system for a large online insurance application I got the opportunity to work with with the IT Director, Ron, directly. I had been consulting on a technology project for about a year when the need for a particular project came up that was outside my scope of knowledge. It was a new technology that I knew about but was not able to directly deliver what was needed to complete the project. However, I did know of several people through my Asset Network (these are people that I know that have other skills, resources and knowledge outside of my own) that could deliver the needed skills for this upcoming project. One guy in particular who does this type of work full time who’s name was John.
Since I already had built a trusting relationship through the value I provided to the Insurance Company over the last year and I had positioned myself as a “Value Provider”, I made the suggestion to the IT Director that I had access to the needed skill set he was looking for. Now keep in mind I had set myself up from the beginning as a “Value Provider” and not just a single source consultant that could only provide value for the skills I was hired for. At the time I positioned myself as a “Technology Value Provider” so when other projects would come up and a need for other skill sets would arise, I could be in the position to solve the problem. I told Ron I had a qualified person that specializes in the skill set he needed. He told me to setup a discovery meeting where all of us could meet and discuss the project. We had the meeting, Ron was satisfied with what John could provide so we setup a time line on the project, discussed the rates and decided to move forward.
Total time on this project was about an hour and my commission for recommending John, as a solution to Ron’s current problem, setting up and managing the process was $700. Not bad for thinking out of the box by recommending a solution that I couldn’t provide, but knew of someone who could. How could you apply this example to a person or company where you can position yourself as problem solver and earn a commission for your efforts?
So what are the take away points that you can use immediately to start creating partnership brokering income? Regardless of what your skill sets are, you should always position yourself as a “Value Provider” and not just pigeon hole yourself into thinking that you only have skills in X, Y and Z. Instead, position yourself as a business development consultant as every company is in search of new clients and someone who can solve business related problems. Once a company or person sees you as a problem solver and you can deliver on what you say you can do, you could have a client for life. That client will gladly pay you a commission; a one time payment or even an ongoing residual income for solving their business related problems through your combining, recommending and advising them with resources you have access to.
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.
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