I was recently talking with a friend about what I did for work, and a few minutes in we landed on the topic of joint venture relationships. He asked me what made my approach to JV’s so successful and different.
I thought about it for a second, and told him the two biggest factors that have made my JV partnerships successful.
Slow It Down
When most people approach a potential JV partner, the first thing they do is pitch them a deal.
I know it’s true because it happens to me all the time. I’m constantly getting emails from people telling me how great their webinar series is. They send me their great conversion rates and earnings-per-click breakdowns to try to ‘wow’ me.
Then, they pitch me a number and a deal, as if I’m a mercenary trying to extract every dollar from my contact list by promoting other people’s stuff I don’t truthfully believe in.
That’s how most people do it.
The first way our approach is different is it’s slow so it can be fast.
I don’t rush. My job is to find out if we’re a good match and then collaborate to create a mutually beneficial partnership. This isn’t a transactional relationship — it’s a true win-win partnership.
Focus on the Long Run
The second way our approach is different is we don’t do one-shot deals.
I enter joint ventures expecting to do at least three webinars each year together for a long, long time. I want to become a fixture on their calendar so they know for certain that each February, June, and October (for example), we’ll run a webinar together covering pre-determined topics.
When you become a fixture on their calendar, you accomplish two great things.
First, your JV partner is happy because they don’t have to worry about how the relationship will add value to their list. Besides promoting your stuff to their clients, there will be three webinars for their clients already scheduled in the books.
Second, we’re happy because now we’re guaranteed three opportunities to be in front of their audience and get invaluable exposure.
We want to become a fixture in their calendar so it happens again and again and again, rather than a one-time deal leaving you with replacing JV partners all the time.
Another way to become a fixture on a JV partner’s calendar is to offer a regular training for them.
I used to run a webinar every three months just for my JV partners to teach them cool stuff like how to run a webinar, improve their authority marketing, how to structure their website, etc.
The training becomes another currency we can use to cement the relationship. By doing it regularly, we become a fixture in their calendar and in their world so we can reap the benefits of joint ventures for years to come.
Share your thoughts by leaving a comment below. I’d love to hear from you.
P.S. Whenever you’re ready… here are 4 ways I can help you grow your coaching business:
1. Grab a free copy of my book
It’s the roadmap to attracting prospects, signing clients, and scaling your coaching business. — Click Here
2. Join the Coach Dojo and connect with coaches who are scaling too
It’s our new Facebook community where smart coaches learn to get more income, impact, and independence. — Click Here
3. Join our Implementation Program and be a Case Study
I’m putting together a new coaching case study group at Black Belt this month… stay tuned for details. If you’d like to work with me on your client-getting and scale plans… just send me a message with the words “Case Study”. — Click Here
4. Work with me and my team privately
If you’d like to work directly with me and my team to take you from 6 to 7 figures… just send me a message with the word “Private”… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details! — Click Here