joint venture marketing
Which one are you?
A Business Owner?
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.
“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.
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