ready to jv 6-part tele-course€¦ · profile: project details? packaging? pricing? partner...

Ready to JV

6-Part Tele-Course

Action Guide: Tele-Class #2

© copyright 2010 Gina Bell, www.GinaBellinc.com

Copyright 2010, Gina Bell www.GinaBellinc.com and www.ReadytoJV.com

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Copyright 2010, Gina Bell www.GinaBellinc.com

All rights reserved. No part of this guide may be reprinted or transmitted in any form or by

any means, written or mechanical, without the prior consent of the author.

Limits of Liability / Disclaimer of Warranty

The author of this guide has used their best effort in preparing this report. The author

makes no representation or warranties with respect to the accuracy, applicability, fitness

or completeness of the contents. The author disclaims any warranties (expressed or

implied) merchantability or fitness for any purpose. The author shall not be held liable for

any loss or other damages, including but not limited to special, incidental or

consequential, or other damages. As always the advice of a competent professional

should be sought.


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Agenda ~ Class #2

� Introductions & Housekeeping

� Overview of the P.A.R.T.N.E.R. Method™

� 5 P’s of a Profitable Joint Venture Partnership

� Top reasons why joint ventures might fail

� Types of joint ventures

� JV “Essential Ingredients” survey

� Marketing Strategies & Tactics Brainstorm


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5 P’s of a Profitable Joint Venture Partnership:

Today we’re going to take a quick peek at some of the elements of a

joint venture action plan using the at-a-glance map below.

Priorities and Probabilities

How to manage

expectations.

Project

Profile: Project details?

Packaging?

Pricing?

Partner

Profile: Who will be a

good partner for

you? Why?

Characteristics?

Primary

Purpose Visibility?

Credibility?

Cash flow?

Protect: Relationships

And

Reputation

5 P’s

of a Profitable Joint Venture Partnership


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5 P’s of a Profitable Joint Venture Partnership™

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Primary

Purpose Visibility?

Credibility?

Cash flow?

Partner

Profile: Who will be a

good partner for

you? Why?

Characteristics?

Project

Profile: Project details?

Packaging?

Pricing?


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Additional Notes:

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Priorities and Probabilities

How to manage

expectations.

Protect: Relationships

And

Reputation


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Joint Venture Planning Checklist Knowing the answers to these questions will increase the success you

experience with joint ventures. This is a generic checklist (not all-inclusive)

that will apply to most every project you initiate but, please keep in mind

that some considerations, actions and gaps will be specific to the type of

JV you choose (thus, an eyes wide open approach is key):

� Decide on type of joint venture. How will it be structured specifically?

What does it look like?

� What is the purpose of the joint venture? Think Win-Win-Win

o What’s in it for you?

o What’s in it for them?

� JV Partners

� Target Audience/Ideal Clients

� What is your PRIMARY desired outcome for your joint venture? List

Building? Revenue? Visibility? Credibility?

� Based on this outcome, what is your SMART goal for the project?

SMART = Specific, Measurable, Attainable, Realistic, Timely

Example… Outcome = List Building, SMART Goal = Grow subscriber list

by 500 during 2-week co-promotion window.

� WHO is your ideal client/target audience? You must have this clearly

defined so that you can identify others who serve this niche in a

complimentary and relevant way.

� Who is your ideal Joint Venture Partner? What qualities do they posses?

What assets do they bring to the project?

� Connect with and confirm your Joint Venture Partner/Team

o How will you approach them? Email? Phone? 3rd Party

Introduction?

o What will you say? (Focus on what’s in it for them)

� What do you need from your partners PRE-LAUNCH to set up the

project? (i.e. photo, bio, bonus, etc…)

� What do you need your partners to “DO” once the project is

launched? (i.e. co-promotion)


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� Clearly define your co-promotion strategy and timeline: How will you

and your partners spread the word and when? Be specific. Solo email?

Blog posts? Status updates on Facebook & Twitter? Teaser Videos?

eZine Blurbs? Articles? Preview Teleseminar(s)? What will happen and

when? What is the minimum co-promotion effort you will expect from

your partners?

o What COPY & SCRIPTS & INFO do you need to give to your

partners to make co-promotion easy-peasy?

o What copy & scripts need to be written or produced (video)?

Will you write them? If not, who?

� Send JV Agreement: Purpose to manage expectations – what you

need from them; co-promotion strategy (what they will do); how they

will benefit by being involved; how you will support them; how can

they leverage their participation later? i.e. Can they do whatever they

want with the recording after the event or, if your JV is for-fee, do you

request they NOT give it away unless it is a bonus with a paid product,

program or event? Etc...

� Qualify commitment to co-promotion by having a check box on the

agreement that is something like: “Yes, I have evaluated my

promotional calendar and have determined that I can fulfill my co-

promotion obligations as part of this Joint Venture Team.”

� Pricing Strategy: Is this for-free or for-fee? What is the value/benefit to

your audience? What will you charge and why? What % of revenue (if

for-fee project) will you share with your Partners as affiliate commission?

� Where will your JV live? What will be the project’s home base? i.e. a

page on your existing website? A stand alone sales page? A separate

web/blog site?

o What copy needs to be written? Will you write it? If not, who?

� Long sales letter?

� Thank you page?

� JV partner page with templates, scripts, affiliate ID, etc…

� Clear and Consistent Communication with partners. Let them know

you’ll send them regular updates and reminders (and do so!).

� The project is over now what? Define your follow up/keep in touch strategies:

o How will you follow up with and nurture relationships?

� With your JV partners?

� With your new (and existing) subscribers?


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Simplified JV Planning Checklist:

� Who?

o Ideal JV partners

o Target Audience / Ideal clients

� What

o Type of JV

o Pricing Strategy & Affiliate Details

o Co-promotion Strategy

o JV Agreement

o JV Headquarters (i.e. Registration/opt-in/Sales page)

� When

o Co-promotion Calendar

o Launch Date

� Where

o Virtual Event? URL

o Live Event? Venue

� Why

o Purpose of your event

o Desired Outcome

o SMART Goal

� How o Identify & Eliminate Gaps

o Clear & consistent communication & updates to JV team

o Lead JV with Co-promotion Implementation


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Top Five Reasons Why Joint Ventures Might Fail:

Important Note: This is not to scare you but to empower you. By knowing

the potential pitfalls that exist you can create, implement and manage

your joint ventures to prevent them from happening to you…

1) Your Joint Venture Goal Doesn’t Match The Partners you’ve selected

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2) Poor Communications – i.e. differing expectations

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3) Implementation Snafu’s

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4) Low Incentives = Low Participation

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5) “Crossing lines”

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According to dozens of people who responded to the survey…

The Top 10 Essential Ingredients For Joint Venture

Success Are:

� Trust

� Win-Win

� Relationship first

� Respect

� Shared values

� Comprehensive clarification of expectations

� Belief [in partner(s) and project]

� Motivation

� Spirit of cooperation vs. competition

� Two-way street. (Both committed to successful implementation)


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About Gina Bell

Gina brings new meaning to the word multi-passionate

entrepreneur. She is the Founder and Visionary of

IAWBO, the International Association of Women in

Business Online, Host and Producer of the Official

Women in Business Online Podcast and creator of the

Equity-Rich Women Online UnBlueprint and Toolkit™, a

step-by-step marketing and business-building program

designed for multi-passionate internet-based women

entrepreneurs.

Gina teaches motivated women entrepreneurs how to create success

online quickly with authenticity and confidence. Her equity-rich methods

are a catalyst to the freedom filled life and business her clients truly desire.

A successful author, speaker, coach and teacher, Gina inspires women in

business online around the globe through her electronic newsletters,

teleclasses, in-person workshops and private coaching.

Gina is forthcoming author to Equity-Rich Women Online: Learn to

Leverage and Leap Your Way to Wild Success and co-author to the AWE

(Association of Web Entrepreneurs) Emerging Trends Guide 2009 and the

Power of Mentorship for the Home-Based Business alongside prominent

transformational teachers like Bob Proctor and Dr. John DeMartini from the

hit movie the Secret – Bob Proctor and Dr. John DeMartini.

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