Rich's current Twitter status:@mariaandros Happy Birthday Maria!
Today, I'm going to detour from the Taking Action series a little and ask you to take a different sort of action...
Lots of people ask me what the secret to my success is. And there's really no "one thing" that made it all happen. It's more of a mixture of things.
But there is one strategy that's played a MAJOR part in my success...one that's consistently put millions of dollars in my pocket with very little effort.
Yes, I'm talking about the joint venture. And in my new book, "The Complete Guide to Highly-Successful Internet Joint Venture Partnerships: How to Create Profit Windfalls and Skyrocket Your Online Business", I give you a crash course in the Rich Schefren model for setting up winning JV partnerships.
Nobody outside of the Strategic Profits inner circle has seen this book. In fact, I'm still tweaking a few parts here and there.
But today, you're going to get an insider's sneak peek--absolutely free--along with a chance to secure an advance copy before anyone else.
So grab your favorite beverage, some paper and a pen. Because you'll want to take some notes.
Everyone seems to take it for granted these days, but I remember the time before the Internet. Besides providing us with countless sources of entertainment, and information (some credible, some less so) the Internet has brought us one very important thing: opportunity.
The power of the Internet lies in forging relationships between entrepreneurs; relationships that are highly-profitable because there’s synergy between the partners.
What, you ask, is synergy?
The word comes from the Greek, sunergia, and is defined as the interaction of two or more cooperative agents or forces so that their combined effect is greater than the sum of their individual effects. A synonym for synergy, at least in the realm of Internet business, could be the phrase: joint venture.
I work with hundreds of Internet-based business owners just like you, and often find them asking about "joint ventures"--what are they, and how can they use them effectively to grow their businesses. My response is always the same: joint ventures are simply the best way not only to grow a business, but to make lots of money in the process.
And, there’s the underlying reward of doing more for your joint venture prospects and customers, because you are offering them the combined brilliance of the JV partners; exponentially increasing the value of the product purchased, at what often feels like an remarkably-low price.
But, I'm getting ahead of myself. Let’s go back to the basics, by asking this simple question:
Just what are joint ventures?
The phrase really describes a relationship--hopefully a mutually advantageous one--between two (or more) parties to undertake a singular economic activity together. Joint ventures are just a combination of your efforts with those of others to reap substantial profits for both.
A joint venture is not a merger, a general partnership, or ongoing business agreement. It’s not you buying someone’s company or them buying yours. It’s not an equity sharing or equity position in anybody’s company. It’s not a private placement.
It is a single-purpose shared business activity, between two or more business concerns. In fact, joint ventures can create massive profits:
To put it plainly, Joint Ventures are simply:
Normally, it is common to come across people from different business sectors while conducting your own line of business. You establish rapport with other business people over time and at a particular stage, you can combine your marketing and sales efforts through a contracted, orchestrated and monitored joint venture.
To be truly successful, any joint venture you take on should be well-thought out, and the parameters should be spelled out in a signed contract. The plan of action needs to be monitored, as does the income generated. These are all points to be covered in this ebook.
The fine part of this is that a joint venture is, by its very nature, short-term.
You can try a joint venture for a trial period of few weeks or months. New joint ventures can be refined from this initial effort and any joint venture arrangement you make proceeds only if it works to the advantage of both parties; otherwise, you could terminate the relationship--and we'll tell you how to do that in the concluding section.
Most Internet marketers function through such joint ventures, however not all of them are as profitable as initially hoped. This is often because there has been insufficient due diligence on the part of prospective JV partners and the ‘match’ was not--to use an old adage--made in heaven.
Even when the partnership has merit, failure often stems from inefficient, ineffective communication between the parties. We'll address many of the ways to avoid the communication pitfalls in the sections on operating the joint venture.
You can approach different businesses, Web sites, or companies to find suitable alliances. Our staff has compiled a checklist of activities and tools you'll need to successfully ‘pitch your JV’ to prospective partners.
Always continue to search for the opportunity to join forces with others; workable deals take time to mature and finalize and therefore, you need to identify and enter into joint ventures with more than one partner.
This is also true because as not all alliances are profitable, you need to keep up your efforts to arrive at a truly rewarding joint venture.
Most joint ventures are unique, and the best joint ventures will be created by applying your own imagination and creativity to form the best win/win situation for you and your partners.
I tell my clients that the success of their joint ventures is limited by only six things:
Otherwise, the sky is the limit! And, I mean that sincerely. To be honest, the most powerful limitation is purely the result of the combination of your limiting beliefs, and a lack of vision about the unbounded possibilities.
Here's how you can get your own advance copy of "The Complete Guide to Highly-Successful Internet Joint Venture Partnerships: How to Create Profit Windfalls and Skyrocket Your Online Business" right now.
See you inside!
To Higher Profits,
Rich
P.S. People have already started asking, "Rich, you don't strike me as the 'ebook' type--what gives?"
Good question. And the answer is really very simple...
I've met hundreds of marketers and business owners who yearn to form solid JV partnerships, but just don't know how to go about it. They have outstanding products with enormous potential, but not a clue how to get the word out
With this book, I hope to give every entrepreneur--from newbie to advanced--all the tools they need to quickly and easily establish those gold nugget JV partnerships, and help them turn their million-dollar idea into a million-dollar business.
If that's what you want, I urge you to "take action" right now by getting a copy of this brand new book and putting its principles into play.
http://www.strategicprofits.com/joint-venture-guide/
Link to this post: If you found this page useful, consider linking to The Most Powerful Marketing Strategy Ever ...
Hey Rich,
This looks like a heck of a great guide. I am going to place my order right now. It looks like a great investment…
Take Care,
~Brett
http://FreeTrafficBigProfits.com
Great post, Rich.
Also made great JV deals over the
last few years. Agree with you -
highly profitable when structured
right.
Best wishes,
Des
As you point out Rich, it’s all about “Win/Win”.
There was a recent post about “Internet Marketing Wh*res” on a Rick Butts blog which struck a chord with many and raised the blood pressure of others all at the same time.
Both posts (yours and Ricks) have touched on the biggest issue many so called “business owners” cum marketers succumb to:
“Shotgun marketing” - trying to hit everybody with everything. This neatly intersects with your post above as too many people are trying to forge pseudo-relationships with a gazillion others (whilst throwing lots of unrelated bonuses in to “sweeten” deals, be the customer or JV partner).
It really does boil down to cultivating relationships. You cannot have 10,000 strategic alliances so you have to hone in and nurture those as you say - most synergistically aligned with your own business and beliefs.
The Paradox of Choice is food for thought when looking for partners and indeed on trying to get new customers.
More really is less and less really is more.
All the best,
Tom
Never tried a JV. Need to learn more about it.
It will be interesting to read your book as a contrast to Jay’s joint ventures book, what with you working together so much these days. I wonder what different angles and directions you’ll take other than, of course, more focus on online.
Really looking forward to it. Thanks Rich!
I completely agree, I’m currently working on a JV with a partner and this ONE relationship has the potential to bring in well over 100k. I could literally change the course of my business and life from one powerful relationship.
JV’s are the way to go.
Ron
Here’s the business - http://www.NoExperienceNeeded.info
I also have never done a JV and only know about the concept in general.
Your book, Rich, will be an excellent resource.
If anyone is interested in doing a JV in my areas let me know, they are: NLP, Personal Development, hypnosis and AD-HD.
I hope I’m not infringing on any protocol with the previous sentence.
All the best
Hi Rich.
I will be looking for my first JV deal with a product I have developed for all business’es and Entrepreneurs called “Venture Capital Secrets Revealed”.
I will need distribution through a stong network.
I look forward to seeing what you have on this in the near future.
Tom
Joint ventures are great ways to combine skill sets. Basically, no one ever got rich alone. You need help! Sometimes you might have the idea, but not the money or the skills. So you join forces with an investor and a skilled entrepreneur, and you pursue the idea. Or, you might be the one with the skills, and someone with an idea and with money approaches you with a killer idea. You two join forces, set up a joint venture, and the rest is history.
Great timing as I was going through this exercise as we speak.
I’ll give it a crack… send a copy to me..
MY BURNING QUESTION…
Hi Rich,
Congratulations on the new book!
Every product I own from Strategic Profits is factual, timely, and very actionable content. Your new book I’m sure will be killer information too.
But here’s my question:
What makes your book different than the rest of the info that is out their on J.V.’s??
Curious,
Alex T.
Miami Beach
Rich,
Will purchasing your book also help in setting up offline joint ventures?
Small businesses need help setting up offline joint ventures.
Thanks
Hi Rich
I noticed that your order form doesn’t include all countries. Any way you would set up so that you could accept Paypal?
regards
Alex
Hi Rich
I have to agree with you on this one and it’s not as scary as folks think.
I’m relatively new to the whole working online principle, but I set up a JV with some fellow forum members to produce a report to use as a giveaway to build my list. You can see the result at Secret of Magnetic Sponsoring
And all I did was put up a post asking if anyone would be interested in contributing. Simple. Folks shouldn’t be scared thinking this is harder than it is.
Susan
Great post Rich….Very informitive.
http://www.joegiannetti.com?rich
Thank you for sharing your success knowledge.
Win Win is a great principal to follow.
Z. Nefesh
http://MaximumStrengthCopywriting.com
I’ve been looking at doing some JV both online and offline and look forward to reading the book to tell me the proper way to go about it.
Rich, thanks for another reminder that I have to start looking for a JV opportunity. This is something I simply haven’t tried yet. Sounds like I am missing out on a lot.
I trust and I hope on your noble and disinterested aid in
Achievement of the American dream for a worthy life and an opportunity
To help another. Sincerely Anatoly S.
Hey Rich.. readers n posters … excellent product Rich and very much needed … from the outside looking in JV always seemed to be for the big players online at least that’s what I used to think before you came on the scene and exposed this profit sharing pdf … I also like your … 6 Month No-Questions-Asked Money-Back Guarantee! “I promise after devouring this instantly down loadable pdf manual utilizing the numerous tools … and using the enclosed samples I’ve given you … You will form at least 1 successful JV relationship in the first 30 days!
looks like another “every ones a winner” from Rich Schefren camp…
All my best to you and your JVs
Phillip Skinner
Thanks Rich, this ebook will be well received.
Rich
Good to see you providing information on this important issue.
It is good to see your promote joint ventures and recognise that the easier route to success is to work with other businesses.
Individually businesses may be relatively weak, together they can be much stronger, offer a more complete solution to the customer, gain access to the “attention” of the other’s customer list and leverage a host of other assets.
Unfortunately people make a half hearted attempt which fails because
a) they pick the wrong partner
b) they never bother to answer the WIIFM question
c) they never define the objectives of the joint venture
d) they never plan step by step how it is going to work.
This is one area where I believe that Internet marketing is setting a great example.
First of all the affiliate schemes are usually simple and transparent. People can learn by example and see the good and the bad.
Some just say “here’s your affiliate link get on with it”, others provide you with all the banners, suggested promotional copy and a timetable for the launch. Others even provide their important affiliates with review copies so that their marketing partners can talk with authority.
Second reason Internet marketing is setting the example is through the high level partnerships where people recognise that it is good to recommend other people’s products even when there is a cross over with your own. Yes it is sometimes overdone - I lost count of the number of people promoting John Reese and Traffic Secrets 2.0 to me.
Good luck with the release Rich.
Anyone ever compliment you on your timing? I am!
Been working on a huge progect that’s going to take another couple month’s to completion. Will be reading your “book” carefully. JV’s will be necessary at the end, BUT what I need is input/contributions from future partners on the project. Hope this is covered, not just the “sales end”.
What I have, well not found, is contact information as most “A list” JV partners are hiding their contact information.
One more thing will this be available to us affiliates to sell? Puleeze! I need it for a specialized page I’m building!
Thanks
Denny
Hi Rich
I’ve been wanting to JV with more people both online and offline so I am looking forward to reading your book.
Thanks for all the great advice!
Robert Garcia
Denny
Just check the Strategic Profits affiliate centre. It’s already there with the links.
Sounds Compelling. I want my guide today.
Thanks again Rich,
Geary
Revolutionizing Small Business Growth
Sounds Compelling. I look forward to my copy.
I already use a system that includes a joint venture process for me. I am always looking to learn. If anyone is interested in more information. I have included a website with seminar details.
visit: http://etour.ebusinessgrowth.com/
Thanks Rich,
Geary
Exciting stuff rich. I remember how excited I got when I first read some material of Jay Abraham about strategic alliances or joint ventures. They just make so much sense.
The real trick is ensuring a win/win situation for all parties. If you can pull that off then you are on to a real winner.
Can’t wait to read your book after many of your free guides like the Internet Business Manifesto and many other unique titles.
Thanks
Marty
Thanks for this useful info. JVs are a useful way of promoting the business but I find that it is only as effective as the reputation of the person you JV with. The trick is to make sure that the person you JV with is of good standing and has high quality products of their own
I find that one does not have to do JVs with big time marketers to make things work, you can choose someone who is not so big in the business but is working hard at establishing themselves.
Hi Rich
This really is important information.
I completely agree that Jv’s are the most important ingredient to success-especially for a marketer starting out.
You can lack skills in many areas and it really doesn’t matter if you can find a team that backs up your weaknesses.
This has been my experience on the marketing masters series and it offers tremendous hope to anyone starting out.
Thanks for the advice you share,
Barry
http://ContentDeskBonus.com
thanks Rich tis your best post ever.
THANKS
Great article , joint ventures is not one of my strong points
but this article opens up a whole new avenue. I’am definitely purchasing this product.www.make6kaday.com