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I know that you’re keen! I know that you’re enthusiastic about getting up and running with your next joint venture project. I know you’re probably wanting to rush off and get it underway today. But STOP! There’s a well-known saying in business that applies to joint ventures as much if not more than any other single business operation. Maybe you’ve heard of it? It’s called the six P’s ….
Perfect Preparation Prevents Pathetically Poor Performance!
It’s a well-worn saying perhaps, but it’s a very valuable message for all us joint venture entrepreneurs to bear in mind. Because it tells us that – not only the more you prepare the more you will succeed – but that the more you prepare the more you will plan failure out of the equation.
The good news is that good preparation needn’t be difficult. It becomes relatively simple …. if you break it down into manageable steps like this :
One : Test Your Product
The very first thing you should do when selling any product is to test the market for it. You don’t want to waste time looking for JV partners for a product that doesn’t sell.
The easiest and cheapest way to test your products/services is often to buy some e-zine advertising in a publication that targets your market. Only buy e-zine ads. that target your specific type of customer and always test your ad. copy before you spend a lot of time and effort looking for partners. For example, if you are selling cosmetics you should buy advertising in an e-zine that covers beauty or fashion. If you are selling electronic gadgets then you’ll probably do very well buying ads. in e-zines that are of interest to young men.
You should test a few classified ads. and a few display ads. if possible. Display ads. are normally more expensive than classified ads. but they usually pull more response.
And remember: If you’ve already got your own opt-in e-mail lists be sure to test to them first. (Assuming, of course, that you’re marketing a product they would be interested in.)
Two : Create Powerful Sales Tools
Whatever you’re doing, your aim should always be to make things as simple as possible for your JV partner to make the sale for you. Having ready made sales tools
that they can just ‘cut-and-paste’ makes it so easy for them to make the sale and, of course, make loads of money for you! All they have to do is get your marketing message in front of as many qualified prospects as possible. After that you can both sit back and watch the sales roll in!
Here are some of the very best, powerful sales tools for every joint venture:
- Classified ads.
- Display ads.
- Articles promoting your product.
- Professional graphics.
- Professional banners.
- Endorsements.
- E-mail follow up letters and reports.
If you don’t already know how to create these don’t worry! I’ll tell you exactly how to put together powerful, winning sales tools in my next article.
Three : Know How To Find The Very Best Prospective Partners
Remember that when we speak of super affiliates or prospective JV partners we are talking about individuals who have one or more of the following
characteristics:
- Those whose website has high traffic.
- Those with a large enough opt-in list, allowing high volume sales in a short period of time.
- Someone whom consumers know and trust.
There are two really powerful ways of finding these types of operators. You can either find them through e-zine directories. Or you can find them directly yourself through searching the Internet.
You might already have some ideas of your own on how to do this. But, again, if you don’t I’ll cover how to do this extensively in an upcoming article.
Four : Make Your Offer Absolutely Impossible To Refuse
Essential to remember : When you put together a JV proposal it mustn’t be good. It must be very good! One of the main reasons some online marketers fail to recruit as many joint venture partners as possible is because their offer simply isn’t good enough. The top JV operators are already making a good income from their other online marketing efforts. So, you need to ask yourself, what will make your offer any different from the thousands that they already have to chose from.
In other words: What will make them jump up and look?
And, what will answer the question they’re bound to be asking:
What’s in it for me?
In order to form a partnership with these people you have to create and clearly present the best offer possible. And not only that, you have to polish it up to be the very best it can be. Here are four effective ways to do this:
- Offer higher commissions. Higher than anyone offering anything similar. ‘Money talks’, as they say.
- Offer them your product or service for free. The proof of the pudding is in the eating. If they can see how good your product/service is – not just rely on what you tell them – there’s a much greater chance they’ll be hooked.
- Offer your product or service to their list and visitors on a trial basis, or on a ‘just for you’ deal at a (slightly) reduced price.
- Offer them free ad. space in your e-zine (if you have one).
There are other ways of course. But if you can do this you’ll make your proposal really very, very hard to refuse!