Your potential partner has to be LASER-TARGETED to your product, or to your contact base. If they aren’t, then forget it…
Your potential partner MUST have an incredibly active, trusting and money-spending customer base or contact list.
Your potential partner MUST be upstanding and have a perfect track-record. Ask for references and “Google” them and their products to check out their reputation online. The odd complaint here and there is to be expected, but if it seems to be a chronic problem, then steer clear…
Tips for finding partners that will guarantee you success from day one:
Go BIG. Contact the big, wealthy and ‘intimidating’ companies in your niche first. They are, in most cases, much more open to discussing partnerships because they realize that they can easily add to their bottom line by leveraging your product instead of having to research and develop their own.
A JV Broker friend of mine in the US decided to go directly to the biggest chain of sports gym’s in his state to help them re-activate their customer database by joint venturing with his client a sports nutrition company giving away FREE samples!
Look for companies that actually rent their list of qualified buyers or allow targeted third-party offers to their buyers. This is in my opinion the best partner as they understand the concept of creative marketing and would be willing to accept joint venture proposals.
Who do you know? Do have any industry contacts already (on a ‘first-name-basis’) that you can leverage in your niche? They don’t have to be the CEO or MD, or even someone in a ‘decision making’ role. Because you can go right through them and get them to refer you to the key players.
Again, your choice of JV partners for a particular project will ultimately determine the success of it. If you choose highly competent people for your joint venture there is no reason why it would fail.
Over the next few weeks, Gina and I will be filling you in on the details of what’s coming and how YOU fit in! Subscribe to the RSS feed here on the blog to stay up to date so you won’t miss any of the details!
To Your Abundant Joint Venture Success!
Sohail Khan (the “Million Dollar JV Master”)
President & Co-Founder, TheJVUniversity.com
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