Joint Venture, Win Win All Round Part 4 of 4

31) Let Them White Label You – Let’s assume you are an IT consulting firm, and you decide to JV with hardware companies to access their customer base and have them endorse your services. The trouble is, you want to JV with several hardware makers, and each one wants you to use only their hardware. How do you get around that and still have access to all of their lists and endorsements?

One way is to let them “white label” your services. In other words, when you consult for their customers, you represent that hardware company. So every time you go out, you change “shirts and hats,” so to speak. That way each hardware company has you representing them. Basically, they would sell your services as their own.

Think of it as a “private label rights” situation, where you sell your works to other companies that they can in turn repackage as their own. If you’re looking to drum up more business, this one approach alone could bring you more than you can handle. In other words, you may have to hire more staff. It’s that powerful.

Listen, do you think all of the “Geek Squads” and such are all owned by the companies dispatching them? No, many are contracted. These are large-scale corporate deals, but nothing says you can’t do something similar on a smaller scale to start.

32) JV the Costs – Whether it’s an office you share, or a receptionist, or an administrative assistant, or standby conference call lines, you can make deals with other businesses that may not need a full-time receptionist, for example, to keep the costs down. A local school supply business shares an office with a surveyor. A small downtown Hartford mail order firm shares office space and conference rooms with an advertising agency. A New York investment consulting firm shares the mailing address with a Florida realtor who is also licensed in New York and wants a local presence. Things like office and mail services, help desk support, and other shared services are becoming more common.

If you can’t find one that makes sense for your business, why not invent your own solution.

33) JV to Build Your List – Your list is your greatest asset, right? But if you only have 1,000 names where 50,000 or 100,000 is the norm (more is better, right?), then why not JV a list exchange. Bear with me. It’s true that you may not have much to offer to the list owner of 100,000+ names, when you only have 1,000. But it can be done.

One way to do this? Ok, let’s pretend that I convince a speaker to do a teleseminar with me that I know at least 2 or 3 other 100k+ list size owners would love to tell their subscribers about. Let’s couple that with the fact that these list owners want to build their lists even more. And you do too. You could make a deal with some of these list owners that whoever opts in to your teleseminar, you’ll do a solo mailing of a product of their choice to the entire list if they promote the call. Remember they’re delivering a message to their list that their list would be interested in, and they’re interested in getting the names of the other list owners that will opt-in. So you act as the middle-person and make all sides happy, while greatly adding to the size of your list.

I’ve personally done this, and I’ve got some big promotions on the way that will grow my list even further. All you need to do is to contact these people and let them know how they benefit from the arrangement.

Will everyone welcome the deal? No. But there are plenty who will. And everyone wins (those are the best kinds of deals, by the way). This is one of those ideas that will work just as good online as they do offline.

34) School Deals – You can contact local community colleges and other educational learning institutes and offer to teach a course for free or for a salary. While you’ll teach them valuable skills, the logical outcome of your course is for them to purchase your full-course and other information products. While I haven’t personally done this, I know of others who have, and it’s a great way to both establish you as an expert and make money on the back-end as well. And the inevitable publicity doesn’t hurt, either.

35) Company Speeches/Seminars – Lots of companies give in-house speeches and seminars. Most charge a nominal sum. You can do the same, and sell your products and services. It’s a great way to get into a company and do your pitch.

36) Friends and Relatives – One of the best ways to get started in JV deal making is by working with people you already know well and who trust you. I’m talking about friends and relatives who are entrepreneurs. Look, there’s a reason why MLM companies like Tupperware and the Pampered Chef do so well. Most of their first-time salespeople sell to their friends and relatives first. My younger brother sold a set of knives to my mother that she still uses to this day (after years). I used to sell Mason Shoes door to door when I was a teenager (yes, admittedly a LONG time ago). Guess who my first buyers were?

Well, the same thing works for JVs. I have some friends who opened up a restaurant. I’m now working with them, without any money out of their pocket, to develop JV deals that will build additional profit centres for them. And yes, I get a cut.

When you work with folks that are close to you, you tend to have their vested interest at heart. And that sets the stage for JV deals with “cold” prospects, because you also want to be known as having their best interests at heart.

You are the deal-maker. You make it happen and know all of the ins and outs of business. This comes with time, so the more deals you make (even the unprofitable ones), the better you’ll be equipped to handle the bigger more profitable ones.

37) JV Anything You Need – Need a room to hold your seminar? A rental car? Your hotel or airfare covered? Any expense, rental, or use of a product or service? Why not use your product or service to JV what you need.

Michel Fortin used to do this with a local hotel. He would get the room for free and hold all of his seminars there, getting new leads and business. While his seminar attendees were there, they used the hotel’s business centre, giving the hotel business as well. It was a win/win situation.

JP Maroney worked out a deal to get his room for free to hold his mini-seminar as well. Jay Abraham regularly did deals to get cars, airfare, you name it.

38) JV for Airtime – Yes, it’s even possible to JV with radio and television stations for free airtime for your ads and infomercials. Every radio or television station has some unsold airtime. They have to use it for something. They only need to fill a certain amount of public service time. After that, the rest of the time is used for the most profitable way they can come up with. If you present a compelling offer to them, yours may be more desirable to them. Simply find out what they want, and offer it to them for an exchange of airtime.

NOTE: This technique is done more often than you think, mostly by ad agencies and bigger companies. But even with that going against you, there is still a considerable amount of unsold time available, especially in the smaller stations.

Hint: You don’t have to do the deal with only one station at a time.

39) Leverage JV with Bartering – This is another little-known technique you can use to make your deals even more lucrative.

Let’s say that you found out that your local radio station WXXX needs a new roof. So you do a deal with the local roofing company J&J Roofing, where you trade your services for a roofing job. J&J charges $10,000 for a new roof needed by WXXX. But it only costs them $3,000 in labor and materials. The other $7,000 is profit. So you provide $3,000 worth of services to J&J, get $3,000 worth of labor and materials in result, and are able to give WXXX a new $10,000 roof for only $3,000 worth of services. Now you get J&J’s $7,000 profit.

Listen, it does work that way more often than you think. Jewellery, cars, furniture, services, and just about anything you can think of produced by a for-profit company always has that kind of leverage if you work the deal the right way.

40) “Think Outside the Box” – Yes, I know it’s a cliché. But in this case, it’s very true and profitable. The examples I provided here aren’t by a long shot every possible technique you can use. Rather, they are designed to get you thinking in the proper “mindset.” You’ll soon see that there are more possibilities and opportunities around you that you may have not noticed before. So your job is to always be on the lookout for them. And recognise them when they do catch your attention.

Will they always be profitable? Hardly. But as you get more and more exposed to this kind of creative marketing thinking, you’ll be better equipped to spot the ones that are more frequently up front.

The best advice I can give you to that end is to try some of these ideas for yourself. Make them your own. Find out what works best for your business and which ones don’t. Read more than one newspaper each day. Read trade journals and magazines. Read what your target market reads. There’s opportunity everywhere if you know where to look.

Ian Richardson

Owner & Director of Top Ranked Website and Local SEO & Social Media Marketing expert boosting local website rankings through proven strategies leading to more customers and revenue.

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