| A joint venture (JV) is when you join up with | | | | 2. Write a real letter to them, using a hand-written |
| someone from a different business and do a | | | | envelope. We all get much less personal mail these |
| promotion with them; after expenses have been | | | | days, so a brief letter, again hand-written if possible, |
| taken out, you split the profits on a previously | | | | that speaks to them, might just sway them. Maybe |
| agreed basis. Especially when you first start out in | | | | tell them you'll follow up with a phone call, or invite |
| business, anything you can do to maximise the | | | | them to phone you. Don't forget to leave your |
| effects of your marketing for minimum outlay is a | | | | number! Give them a reason to want to speak to |
| good thing. | | | | you - remember to make a strong sales pitch in your |
| Joint ventures only work when you convincingly offer | | | | letter, and show them how they'll benefit |
| a win-win deal to your potential partner, so you must | | | | 3. Join and post on the forums on their membership |
| give them an incentive to give you access to their | | | | sites, and post regularly on their blogs. Get yourself |
| client list, and the best incentive in the short term is | | | | known by name, at least. You'll have your email and |
| probably money. The usual offer is fifty percent of all | | | | website address in your profile. Then you can |
| sales to their 'list', in exchange for a one-off | | | | contact them through their site or by email or letter, |
| promotion, and anyone on that list who buys your | | | | or... |
| product then becomes your customer, too. | | | | 4. Phone them. Some people are genuinely too busy |
| So your leverage point is your product or service, | | | | to answer their own telephone, but not always the |
| your gain is access to a list you might never be able | | | | people you expect. Speaking directly to them is much |
| to grow yourself, and your minimal extra effort is in | | | | more likely to give you the results you're after and |
| persuading one JV partner to promote you rather | | | | much more likely to get you off on a friendly footing, |
| than convincing all those potential customers to pay | | | | too. Even if the answer is 'no' this time, you're more |
| attention to you. | | | | likely to be remembered if you've actually spoken, |
| Five Ways to Secure a JV Deal | | | | and a good impression now may well pay dividends |
| We can't guarantee any of these methods will work, | | | | next time. We all like working with people we know |
| but every one of them will improve your chances of | | | | and like; it's human nature |
| securing that all-important agreement from a major | | | | 5. Meet them face to face at events. Find out which |
| marketer to promote YOUR product. The big | | | | events your targets are most likely to attend. If |
| problem you may have with your joint venture | | | | they're there as speakers, it doesn't make them |
| proposition, once you've got your great product and | | | | untouchable or out of bounds. Networking like this |
| a good 'fit' to your target's client list, is getting your | | | | also throws up other opportunities for joint ventures |
| potential partner to listen to you. | | | | that you probably haven't considered. At the very |
| So, here are five ideas you can try: | | | | least, you can speak to several different potential |
| | | | joint venture partners in the course of one |
| 1. Email them personally. This is probably the least | | | | networking day. Know what you're offering and be |
| likely to succeed, but even this can be done well or | | | | prepared to think on your feet, because there will |
| badly. Emailing these days often gets you nowhere. | | | | probably be other deals on offer that you should |
| Most of us get dozens of emails every day, and | | | | consider |
| most of them are junk. An email addressed by name, | | | | Don't forget, we're dealing with human beings here, |
| that looks like it might be a personal message, will at | | | | so an approach that works with one target might be |
| least get read, so think of an original and | | | | exactly the wrong way to approach another. Trust |
| personal-sounding subject line. You could try a topic | | | | your instincts, listen to their advice about what |
| you know they're interested in away from work. | | | | works (because that may well be what works with |
| Then cross your fingers or try methods 2 to 5 | | | | them), but most of all, don't be afraid to ask! |