One of best and fastest ways to build your business and maximize your profits is to develop joint venture partnerships. Here a five powerful tips that will greatly enhance your ability to build strong, lasting, and mutually beneficial JV relationships.
Tip #1 – Don’t Let Fear of Rejection Hinder Your Efforts
Dr. Joe Vitale, www.MrFire.com, is a very successful copywriter and best-selling author. I’m sure he’d never heard of me when I contacted him via email about my recent “Networkaholics Revealed” ebook project. So I didn’t really expect a response from Joe. But I sent him an email anyway. After all, I really had nothing to lose… and a lot to gain if he responded.
And he did!
Why? Perhaps because I was doing what he himself had done early in his career -– reaching out to someone of a higher level.
Joe said, “When I was first starting out as a writer, people way above me, such as famed copywriter Bob Bly, helped me. In later years, marketing gurus such as Murray Raphel and later Paul Hartunian, all helped me. I simply wrote to them. They sensed my sincerity and offered guidance. Today I do same for others.”
Joe did that for me.
Was I nervous about contacting Joe and other big-name successes? You bet! But I didn’t let that stop me.
According to Chip Tarver, www.FirstContactSecrets.com, you must put your fears aside. “Most people have a fear of rejection,” Chip said. “The most important thing to keep in mind is that you are typically not rejected, your idea is. So try not to take that personally.
“Remember that failure is something to be cherished, because it gets you closer to success. Every failure is just a test that didn’t work. It is not a personal failure. When you get a ‘No,’ just think ‘Next’ and move on to next person.”
Was I rejected by anyone? Of course! But my results were better than 50-50. If I’d been afraid to approach people, my ebook would never have gotten off drawing board.
Tip #2 – Focus on Relationship, Not Just Deal
Regardless of who you want to develop a JV partnership with -– whether they’re already rich and famous, or unknown newbies interested in helping you while they learn -– remember they are people, not business deals.
As Chip says, “You will never, ever do any business anywhere in your life (online or off, in any industry, with anyone) until you learn that business is all about people; and people are all about relationships.”
Alice Seba, www.InternetBasedMoms.com, says “I like to meet other people, learn from them, interact with them, and build long-term relationships and partnerships.”
According to Alice, those relationships may ultimately develop into joint ventures or other business benefits. “When they do, they are stronger relationships than contacting someone and saying, ‘Hey, will you send this email out to promote my product? You’ll make a commission!’
“I have gotten some good joint venture deals with ‘big name’ people to promote my stuff,” Alice said, “but I was friends with these people for a long time before any business relationship developed. I’m nice, I give. Some people don’t get it. They are just focused on ‘How do you get gurus to promote your product?’”
Build relationships/friendships first.
Tip #3 – Address Their Interests, Wants & Needs
My project dealt with topic of networking. So when I decided to approach people about collaborating, I contacted those whom I knew had an interest in that topic, or had a list of people who could benefit from topic.
Michel Fortin, www.TheCopyDoctor.com, said, “When you know that other person has very specific needs, and you have a product that serves those needs, you can tailor your introduction to address those specific needs.”