11) Sell Your JV – When you have an income stream from a JV deal you have worked out, you can always sell the rights to that deal to someone else. Just like a money-making website that you can sell, JVs that have a positive cash flow are assets in their own right.
12) JV Deals to Observe and Learn From a Guru – Basically, you can act as a broker or middle agent between a person with a certain expertise and others who want to learn from the expert.
13) If You’re the Guru, Vice Versa – If you are the expert, the reverse is also true. You could JV with a middleman to bring people to you to pay for access to your expertise. Coaching programs are an obvious choice for this approach.
14) JV a Dealmaker – If brokering deals isn’t your forte, you can always JV with someone who sells well and knows how to negotiate to pitch and put the actual deals together for you. This way you can sit back and pull all the strings while your “agent” handles the stuff you aren’t comfortable doing.
15) Painting Fire Hydrants – One of the first deals Jay Abraham put together was paying kids to paint fire hydrants. He’d put all the deals together, the kids would go out and paint, and he’d pay them a percentage of what he was getting paid. His value was that he was the one to put it all together, he set up the deals, and he got the labour organised. This approach works well anytime there is someone willing to perform the service for less that you are getting paid.
Even ‘ol Tom Sawyer did this when he had to white wash a fence in Mark Twain’s Tom Sawyer. He got the local kids to do it, and they loved it.
16) Overstock/Surplus Selling – It’s not difficult to find businesses with excess inventory, tie up the rights to unload it at a discount, then find outlets to sell it at retail. You pocket the difference. On the flip side, if you yourself have excess inventory, you could JV to find someone to unload it from you in the same fashion.
17) JV to the Affluent – If you can partner with a business that sells a high-ticket item to the affluent, here’s a blueprint worth testing:
Choose the most popular high-ticket item they sell.
Send a letter via Fedex to their “A” list, those 20% of customers that are responsible for 80% of their profits. Tell them about a special one-day closed door private by invite-only “showing” for that one specific product/service. Hire a professional copywriter to write a specific sales letter for that one product or service.
Serve coffee, tea, muffins, or whatever is appropriate for that target market on the day of the showing. Make it an event, more than just the product or service itself. Look for ways to gain media exposure. Yes, it’s a private showing, but if their “A’ list hears about it from the media, they’ll want to be there.
Make sure they have their most knowledgeable staff on hand for the showing. You’re selling to the affluent here, so you don’t want to cut any corners. Find out what they want and give it, to them.
Collect your profits, but be sure to follow-up with a thank you letter, ideally also Fedex’d to them. And unadvertised bonuses always help!
18) Lead Generation JVs – Find out what other businesses your target market visits. For example, I sell to entrepreneurs, and a lot of them frequent the UPS Store and other such places. Fedex/Kinkos and other “copy shops” are also ideal places where I live. Many of these places don’t capture their customer’s name, address, email address, etc. So I made an arrangement with them. I setup “take ones,” where they can take a brochure for free, go online to my website, fax me, or mail me their contact info, then I send them a free report relevant to them. I give their contact info to the store I JV with (and I notify the prospects of this fact…it hasn’t seem to hurt my leads significantly so far). For those businesses (a Staples store, being one of them) that are stubborn, I offer to give them the contact info I collect from all the stores I JV with in their area. Again, you need to include a disclaimer when doing that, but in my tests, the benefit has outweighed the losses.
In a discussion with Michel Fortin recently, he mentioned that you need to really provide an incentive for these businesses to promote you. So the “take one” box may not be enough by itself. True, they are getting the contact info of some of their customers (something they themselves should be gathering), but if they don’t know enough to get that information in the first place, they may not be as anxious to promote your free report or premium. I’m experimenting with several other ways to measure how well they will promote me, and I’ll provide updates as they become available. To get these free updates, just send a blank email to: firstname.lastname@example.org (NOTE: you may already be on this list. If you’ve given me feedback to our February 2006 call with Michel Fortin, David Garfinkel, Yanik Silver, and JP Maroney, you are all set).
19) Endorsements – There are people and businesses that have a great personal relationship with their customers and prospects. They may not necessarily know this fact. In fact, a lot of them don’t even realize the amount of pull they have with their audience. People who recommend certain stocks or trends, people who give great content and information to their subscribers, people who give investment advice, generally people who have a certain rapport with their subscribers. They are the ones you want to target. If their niche is non-marketing-related, so much the better in order to cut through this niche’s clutter. I know someone who targeted golf enthusiasts for a marketing product, simply because of their test results. In any case, if you can JV with this sort of person who will endorse your product or service, you have a huge advantage. It’s simply one of the best ways to print money on demand. Please don’t overlook this technique.
These people may not even realize the relationship they have with their list. So you would be well advised to start with those folks.
20) JV Your List Building: Large List – If you have a large list, one of the easiest ways to build it even further is to do a cross mailing. That is, you partner with another large list owner in your target market. You send out his message to your list, he sends out your message to his list. Simple. Just remember, once your prospects or customers are on another list that sells to them, there is increased message clutter. That is, they are now being pitched by your JV partner AND you. It’s a trade-off you need to consider.