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As Much of the world knows, I’m an Advocate for the small business world. In January 2012, 1/27/12 – 1/29/12 I will be holding The Ultimate Joint Venture Boot Camp.
Starting a business on your own can be a daunting task. It requires a lot of energy. The good news is you do not need a meeting every time you make a major decision. You are the boss, owner, president, manager, CEO, employee and shareholder all wrapped up into one decision-making machine. You have no excuses because you are in charge. The key is to be accountable for your decisions and notice what is working and what is not working and move forward towards success. There is no need for a buy –sell agreement (used when you have a partner in case one wants an early out). Life is pretty simple (as much as it can be when you are running a business).
Then I began studying with the world’s top business experts, including Jay Abraham, Chet Holmes, Dan Kennedy, Michael Gerber and Tony Robbins. I hired mentors in HR and leadership to help take NCP to a whole new level. We’ve done so much more than survive the odds for the past twelve years — we have prospered. We now have more opportunity and JVs on the table than ever before to help more entrepreneurs succeed!
Join Jordan Goodman every Monday at 12 PM/PST 3 PM/EST for The Money Answers Show, on the VoiceAmerica Business Channel. He will provide you with a roadmap to making smart money decisions in every area of your personal finances.
3. Run special events
You should run special events for your clients. This could mean a special free webinar or teleseminar, and at the end the offer could be a 4-6 week webinar or teleseminar series in which you are getting paid to create the product. At the end, you will put the MP3/video on a password protected website, along with the transcripts. I would recommend a WordPress blog and work with WishList Member (http://member.wishlistproducts.com/) to develop the membership part. It does not even have to be a monthly program. Create a two-day (or one-day) training event for your clients, record it, and create a product for your clients.
This can be a great and fast way to create a back-end product. You can get paid for someone to attend your event. Plus, typically an event is broken into 90-minute segments. If it is one day, you may be doing 4 segments in one day and each one may be a separate theme which you can turn into its own product. I know that Armand Morin, a top internet marketer does this with his Armand Live event. He will take a couple of the segments and launch them as a separate product later on. He will include the video, transcripts of the 90 minutes of training and sell it for $197 to his list. An event is a lot of work, but once you get through the first one it will only get easier. When you go to events, start to pay attention to the marketing process to get you to the event, what happens after you register, what happens at the event, from registration to the materials handed out, to the actual event, the offers at the event and the followup after it. This is a model that can help you eliminate many steps.
If you have a guest speaker, you will get into speaker agreements, cross promotion, etc. NCP had its first Ultimate Joint Venture Boot Camp in January of 2010, and we invested 100-200 hours on it— and it was a big success. Now, we are ready for the event in 2011, and we will only need to spend about one-half that time on it. I know that may seem like a lot, and it is, but in the big picture, having a timeless product that can add value to your clients is huge!
2. Endorse other people’s products to your list.
This is where joint ventures come into play, specifically the host/ beneficiary relationship. There are two approaches, and the one that will come into play with endorsing other people’s products to your list is where your company is the host.
1. Develop back-end products.
The key question to ask yourself is: what other products or services can I provide to my clients after they make their initial purchase? You can either provide the products to them directly (meaning you develop it) or you can develop an affiliate or host/ beneficiary relationship with someone. Example: at NCP in the early years when we mainly formed corporations, we recognized that clients needed tax and bookkeeping support. We realized most did not have an accountant they were happy with, so we created a quarterly tax and bookkeeping program with our CPA (well trained over the years) to help support our clients. We have outsourced part of it, brought it in house for a while with a full-time CPA, and then outsourced part of it again. All along we kept adding to the service to improve it for our clients.
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