partnering for profits – joint ventures uncovered!

© 2011 Beau Blackwell

Partnering for ProfitsJoint Ventures Uncovered


Why Joint Ventures?


Avoid “Lone Wolf Syndrome”


Bigger & Better Opportunities

• New niches

• Wider reach

• Additional expertise


Shortcut to Success

• You don’t have to be an expert at everything

• 6 degrees of separation

• Force multiplier effect


Shared Risk


The Many Forms of Joint Venture Partnerships


The Classic

• Affiliate promotions & cross promotions


Full Partnerships

• Product Development– Subject Matter Expert + Marketer– Product Owner + Copywriter or Designer– Marketer + Software Developer


Multi-Partner Business

• Membership Sites• Coaching/Training• Events• Licensing


JV Brokering

• Get paid to make connections


How to Find JVOpportunities


Online Gathering Places

• JVNotifyPro• Forums– Warrior Forum– WickedFire– NicheChoppers– Industry-specific– Private/paid forums


Face to Face

• Mastermind Groups• Events


Referrals


The Secret Weapon:Facebook!

JV with this guy


How to Get Started


Preparation

• What are your goals?– New niches– Increased revenue– More passive income– Long term partnership

• What DON’T you want?


Preparation

• Create a “resume”– Understand your skills and what you can bring to a

partnership– Have a record of past successes– Have an elevator speech• Be able to describe who you are and what you can do in

30 seconds or less


Preparation

• Think through your “dream project”– What does it look like?– How would the partnership operate?– What’s the timeframe?• How soon would you be ready to start working

together, and what kind of duration?


Identify Potential Partners

• Current contacts

• Six degrees of separation–Who do your contacts know?

• People with complimentary skills– Forum members, Mastermind group members


Identify Potential Partners

• Don’t always go for the big fish!

• Look around for people at or just above your level

• Consider working with smart, ambitious people below your level


Approaching JV Partners


Develop Rapport First

• Do your homework

• Help first, ask later

• Good fit > Good opportunity


Make Your Case

• What’s in it for them?

• Be open to negotiation

• Be specific & honest about what you can bring


Make Your Case

• No response? – Be polite but persistent– Keep adding value and helping them, don’t harass

• If they say no?– Be professional, don’t burn any bridges


How to Effectively Manage JVs


Start Small

• Trial projects– Launch one product or promotion together before

getting more formal


Get Specific

• The devil’s in the details• Lay out roles, responsibilities, scope of the

partnership and potential exit strategy


Get Specific

• Detail payment splits

• Pre-plan for common scenarios– Refunds, chargebacks, outside partnerships

• Use reliable tracking tools– ClickBank JV contracts, bookkeeping– www.bit.ly/clickbankjv

http://www.bit.ly/clickbankjv

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Get Legal

• Don’t rely on a “gentleman’s (or lady’s)agreement”

• Long-term partnerships require clear legal documentation, so work with a lawyer


In Conclusion:

Be Cool. Make Money.


Contact Me

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