As an independent owner, you have a lot of control over your business. It’s probably one of the reasons you became a coach in the first place.
And if you’re anything like me, waiting isn’t your strong suit. It’s even more frustrating when you wait around people to do what they said but it never gets done.
Unfortunately we can’t control other people. That’s one of the scariest aspects of entering into joint ventures. Even though JV’s have the potential to be incredibly powerful for our coaching businesses, there’s nothing to guarantee that a JV partner will follow through and promote you to their list.
This is where tons of joint ventures fall apart.
We’ve identified potential partners, approached them, and put together a plan with them. Everything looks great and they’re on board with the plan… but then nothing happens — no promotion, no webinar, no communication. Nothing!
It can be devastating, and a lot of coaches will throw the baby out with bathwater, giving up on pursuing JV’s ever again.
It doesn’t have to happen that way.
Of course I can’t guarantee that no JV partner will ever let you down, but I want to show you the principles I’ve found that’ll give you the best chance of ensuring they follow-through.
Hold Their Hand
Once we’ve developed a strategy that benefits the JV partner and provides value to their clients, the real work starts.
After they’ve given us a YES, we’ll want to confirm the agreement we’ve made in writing. Then, we’ll step in and lead the whole process.
Most likely, the JV partner is distracted with everything else going on in their world. No matter what they might say to us when they agree to the plan, let’s be realistic. We are not their top priority in life or in business.
Let me repeat that — we are not their top priority in life or in business.
This means we need to do the heavy lifting, set everything up, and make it so they only have to “hit the easy button”.
Simply hoping that they take initiative and follow through won’t get us anywhere. Whenever the JV partner is responsible for an action item in the process, we still need to take the initiative.
Do they have everything they need for the mail-out? The proper introduction? The right copy? The dates and times to send it? The correct affiliate links?
Instead of just hoping they write great copy for the emails they’ll send to their list, we need to write the copy and give it to them.
Instead of hoping they mail their list on time, we need to check in with them the day before and make sure they’re on schedule.
Instead of hoping the emails were sent, we need to join the mailing list ourselves and make sure we’re receiving them.
If we don’t hold the partner’s hand through the entire process, then the joint venture will fall apart — plain and simple. It will go from a good idea to a forgotten idea in no time at all.
Just hoping for the best will most likely lead to disappointment. Hold their hand, take the lead, and give your joint venture partner the easiest chance to follow through.
Share your thoughts on this 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 and put “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 and put “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