How to Explode Your Business in 2015- Joint Venture Follow up Tips for Success.

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The fastest way to grow your business and acquire new clients and customers is to leverage other people’s money, relationships and resources (OPM, OPR, OPR). The best way to do this is to provide massive value for the other people’s clients and customers. The best way to do that is to know what problem your product or service will solve for someone and find out whose clients or customers need help solving that problem. The best approach is to share how you are willing to provide training or tools FREE to the other company to help solve part of their big challenges.

The next step is to help position this as an ADDED BONUS OR VALUE to the other company’s clients to help with retention, increased business or even bring on new clients. What I mean by help position as an added bonus or value is that too many people stop short and let the joint venture partner company come up with how your free content will add value to their clients and how to implement. That is a big mistake. Make it simple for the other people and give them 2-3 ideas how they might best position what content you will deliver for free to HELP THEM do more business (this is not about you at all on the front end)! Once they know and feel that is your drive, you will get more opportunities. How do you benefit? That is easy. You benefit by having the other company send a marketing message to their clients (who are trusted by that company) sharing about your company and how you will add value to their life or business. You are getting FREE ADVERTISING and, ideally, some new clients on the back end after you deliver your free content.

Once you get this first part down with the approach and presentation, you will find it very easy to get many companies interested in how you may help them become more successful. The ball usually gets dropped in the follow-up. Here are my best tips for JV follow up tips for success.

  1. Track Your JV Opportunities. I would recommend a separate spreadsheet to track each JV opportunity and the stage you are at in the process. For example, list call, approach, presentation, follow-up and close (the close means the JV is happening). And leave a column for the follow-up. This should be updated with the most recent follow-up attempt. Now you have a visual chart to track your JV opportunities separate from your regular client prospecting and customer follow-up.
  2. Schedule Time on Your Calendar for JV Calls. What is on your calendar each week? Most likely what is most important. If something is NOT on your calendar each week, what does that mean? It sends a message that it is NOT important (which is not good). If you are in a relationship, do you schedule date nights? If not, what message does that send to your partner? That they are not important. If you do not have JV calls on your calendar, that says they are not important and that may be why they are not working for you.
  3. Variety in Follow-Up. This means don’t get lazy and send the same email message every month or the same voice mail message every month. It would be best to establish a JV follow-up marketing system just like you have for leads or clients. You might have a sequence of calls, emails, postcard, letter …for every lead that opts in on your website or calls your business (or at least you should). Make sure you leave messages and emails that have a different twist and are compelling to add value to the JV partner. It is not about you.
  4. Consistency and Frequency in Follow-Up. This may be obvious, but this is the #1 reason why so many don’t do JVs with NCP. They follow up once or twice and DECIDE I am not interested, which is NOT the case in most situations. I do see the value in most people’s products or services and how they may add value to your life, but there is such a thing called TIMING and when is the best time for me to introduce your added value to my list. Again, like a good marketing campaign, there is a follow-up process over 3, 6, 9 months and longer to touch base and to determine if there is a need.
  5. Scheduling the JV. Many times when you speak to someone they may love your JV idea to add more value, but the timing is off. Instead of waiting to follow up in 30 days, you may TEST to see if you could just schedule your teleseminar or webinar in the future on their calendar, while now it is not so jam-packed. If you introduce something this week, most people are already swamped and have no time. But if you suggest scheduling something 60 days out on a calendar, that may be ideal and help you “close” more JV opportunities.
  6. Repetition. Dan Kennedy once said the way to get better at long copy writing is to do a lot of it poorly. In other words, get started and just realize you will get better over time and your initial results may not be very good, but with repetition over time you will get better. Too many people quit because they didn’t have success right away with JVs. You are likely to do this poorly at the start until you get more repetition and get better!
  7. Improved Skills. Like any other skill, there is an art to the JV. Find resources to help you improve this skill set. NCP has conducted The Ultimate Joint Venture Boot Camp for three years with training from the best JV experts in the world on how to leverage JVs. Let us know if you are interested in more support in this area. There are several other articles and resources in the Top 5% Club membership site also on this important subject.

Now the ball is in your court to take ACTION STEPS to IMPLEMENT JVs more often to be better at follow-ups to help your business benefit from the power of JVs!

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