When I first worked within the Personal Success Training industry, I was surprised to learn how connected everyone was. Weren’t these trainers competing with each other for the customer’s business? Well it turns out, no. The most effective trainers are those who are working within a community, showing that they’ve got each other’s back. They’re partners through Joint Ventures.
Joint Ventures, or JV Partners, are the shortest path to sharing your message with more people, in less time. Using perfect-fit JV’s is a great way to increase your impact and influence using the power of partnerships.
A JV Partner could be… a guest, an expert, or a speaker that shares a common target audience. You want to create a circle of colleagues you work with again and again to grow your businesses. Top tip: Not all partnerships are an equal exchange. When you don’t partner on a tit for tat basis it’s more authentic.
Are You JV-Ready?
Before you approach JV Partners it’s important to have a clear and concise grasp of the value you offer. When you and your partner are aligned on a message your partnerships will be powerful and profitable. So you must be able to confidently share your Why, Who, What, and Message.
What’s the Objective?
Do you want to build your list, generate income, increase your visibility or boost your expert status? Some JV partnerships will fulfill all four, and some won’t.
Your Joint Venture Map
Prepare your offers based on your objective.
- Free – JV bonus (Giveaway + Extras). This is an introductory offer and the chance for your JV’s Tribe to get to know and like you.
- Fee – Consider which products, and services your clients rave about most. Is it a product, workshop, consulting, or something else? Then determine your price point for the offer, affiliate split, and payout terms.
Pick a JV model. Examples include giveaways, guest posts, expert interviews, and challenges.
Identify potential Partners from people you meet through live events, industry leaders (you already know), colleagues, recommendations, and social media.
Research and connect with them to determine if they’re a good fit. Yes, they need to have a solid marketing strategy and clearly defined audience… but more importantly, you need to be a true fan.
Invite them to a JV chat.
- Connect and create synergy. You might start by letting them know your takeaway on their work, comment on shared interests or business trends, discuss current projects, etc.
- Discuss your offer(s) and make sure they’re aligned.
- Discuss the promotion schedule. Who’s going to do what, exactly?
Clarify the JV agreement and fees (and have this agreement signed).
- Prepare and launch your partnership. Make it easy for them to partner with you by providing most of the work for them.
Host the event/offer/etc.
Follow-up with a thank you. It takes energy to create connection and willingness to partner. A simple thank-you will go a long way to nurturing your partnership potential.