The JV University

Seminar attendance is down by almost 40% meaning less people attending to listen to speakers however, people attending seminars are now more interested in finding JV partners than what the speakers have to say (or sell).

This is the second time me and my team at The JV University have been invited by Ken McArthur to his close-knit seminar group called ‘JV Alert LIVE’ this time in San Diego  with quality attendees and quality speakers.

Even though the speakers are here to either launch or sell their programs/products the information they provide to seminar attendees is quite valuable.

But here’s the strategy that YOU as a seminar attendee should adopt. NEVER go to a seminar without a PURPOSE!

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OK, so many people still don’t understand this LUCRATIVE marketing strategy (which may be an advantage to those that do), so here it is again.

A Joint Venture (also known as jv’s or strategic alliances) is an arrangement that will be of mutual benefit between two (or more) people, businesses or companies who have complimentary resources. What do I mean by resources? I mean products, services and a customer list (or mailing list) that has a relationship with the list owner.

Joint Ventures are a very powerful but underutilised marketing strategy. Yet, according to the legendary Jay Abraham less than 5% of all business owners use joint ventures properly and most don’t know how to use them at all. Joint Ventures are successful because of the old business rule that says: “People like to buy from someone they know and trust”.

The best JV is when one company endorses (recommends) someone else’s product or services to their customer list that they have a relationship with and both share the additional profits. This is a win/win arrangement!

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There are many advantages joint venturing with offline businesses. You could increase your target market by reaching audiences you couldn’t advertise to before. You could get referrals from the offline businesses you joint venture with.

The key to joint venturing with offline businesses is to find ones that have the same target audience. If you’re selling business software, you wouldn’t want to joint venture with a store that sells candy. You won’t be very successful. You would want to joint venture with an office supply or computer store.

Below are three possible joint venture deals you could set up:

1. Write a tip booklet that is related to your business. Make a deal with an offline store where they giveaway your tip booklet to their shoppers with each purchase. The store you pick should attract your target audience. The store could have something free to giveaway to attract shoppers and you could have your web site ad in the tip booklet.

2. Design a printed flyer for your online business. The flyer should include a description of your web site, e-mail address, web address and any other important information. Make a deal with an offline store to have them include the flyer in each bag of products they sell in exchange for free advertising on your web site.

3. Make a deal with a computer store to have them display your web site on the computers they display in their store in exchange for free advertising on your web site or in your e-mail newsletter.

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Are you overlooking  strategic alliances because you call them “competitors”? It is amazing how many business owners and corporate employees view similar businesses strictly as “competitors”. And its sad that these same business professionals throw away some of the best opportunities they face, if only they could see the opportunity.

What do I mean by that? If I own an Italian restaurant isn’t every other restaurant in the city or town my competitor, my archrival? Well, maybe, but not necessarily; but for sure they are just a rival if that’s how you choose to look upon their business and treat them.

A wiser approach would be to look upon these other businesses and think, “OK, so we compete for some of the same clientele or market. But, what can that business and mine offer each other that is mutually beneficial? In what ways can we work together without being at risk?”

My first thoughts in the Italian restaurant example are these: If I need a part-time employee, perhaps another restaurant has a good solid employee that could use more work. Perhaps the other restaurant doesn’t have that many hours to offer. But, if I have contacts within the other restaurant’s management, then we can save one of us an employee turnover and the other would get good help to fill a part-time position.

If I am having problems with a vendor and their supplies, I could call up the another restaurant manager and “compare notes”. I could get and/or share very valuable information that doesn’t hurt either business, but helps both of us in many ways. If you think about this scenario for just a few minutes, I bet you can come up with some other examples quite easily.

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What makes 5% of solopreneurs successful is this: they’re using the one simple, yet highly effective, marketing strategy that always gets you more clients and appointments.

As you read on, you’ll learn what this is and how you, too, can start using it today to…

* Get more clients and appointments,
* Increase your income, and
* Build a successful, thriving practice.

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One of the fastest growing trends during this recession for business today is the increasing number of strategic alliances. According to Booz-Allen & Hamilton, strategic alliances are sweeping through nearly every industry and are becoming an essential driver of superior growth. Alliances range in scope from an informal business relationship based on a simple contract to a joint venture agreement in which for legal and tax purposes either a corporation or partnership is set up to manage the alliance.

For small businesses, strategic alliances are a way to work together with others towards a common goal while not losing their individuality. Alliances are a way of reaping the rewards of team effort – and the gains from forming strategic alliances appear to be substantial. Companies participating in alliances report that at much as 18 percent of their revenues comes from their alliances.

But it isn’t just profit that is motivating this increase in alliances. Other factors include an increasing intensity of competition, a growing need to operate on a global scale, a fast changing marketplace, and industry convergence in many markets (for example, in the financial services industry, banks, investment firms, and insurance companies are overlapping more and more in the products they supply).

Especially in a time when growing international marketing is becoming the norm, these partnerships can leverage your growth through alliances with international partners. Rather than take on the risk and expense that international expansion can demand, one can enter international markets by finding an appropriate alliance with a business operating in the marketplace you desire to enter.

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I’m a big fan of networking to build your business.

So here I want to go over an opportunity that people are missing big time when trying to build their networks and make friends with people, especially when they’re at a business networking event.

Firstly “work the room” and collect as many cards as you possibly can, take a real interest in them, and certainly make friends. If you can meet 4 people and have a genuine conversation with each of them, then you’ve had a successful event.

Networking is about making relationships, so try to figure out what that person needs and wants – this will make you more comfortable to deal with and trusted.

When someone offers you their card, please don’t refuse to take it, as I saw someone do to a friend of mine recently. This guy thought he was doing my pal a favour, as he didn’t want to take a card unnecessarily, but he ended up being ridiculed by me, and upsetting my friend.

You can always throw it away later (although you never know if that person might be useful, so I wouldn’t) but there’s really no need to be rude. Think about how you might feel if someone did that to you – it wouldn’t feel good.

One thing that I see too often is the phrase, ‘Call me or I will call you’ which rarely happens…

Instead become a matchmaker for people in the room (each person will be worth something to someone) talk to people, understand them and seek out hidden opportunities or hidden assets that particular person is not leveraging.

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