Part IV - Joint Ventures: Idea No.62 - No.67 | Books Summary | Kenny Tran to Learn & to Share | Self-development, Communication, Relationship, Entrepreneurship, Business, Management, Leadership, Investing, etc.

Part IV - Joint Ventures: Idea No.62 - No.67

Category: Books Summary, Business — Kenny Tran @ 3:40 pm — post

Thursday, October 25, 2007

Posts in the [Powerful Offline Marketing In The Internet Age] series:

62) Sell an Idea - A lawyer knew how to make a million dollars in a year with one person and three associates. Since many attorneys don’t make that much, he codified his knowledge and had someone sell it. A realtor had a list three times better than anyone else, so she trained other realtors for a fee. A lumber mill knew how to kiln dry wood and get greater quality wood in less time with half the energy cost, saving him millions of dollars. He taught his techniques to other lumber mills. If there’s something remarkable about your business, or something you know how to do better than 99% of everyone else, you have an opportunity to license or teach your skills to others.

63) JV With Your Suppliers - Your suppliers generally want you to be more successful, since it means more sales for them. They may fund sales people, mailings, extra staff, etc. You’ll never know unless you ask them.

64) Seek Out Other Business That Cater to Your Market - I used the lawyer and accountant example above. A realtor may JV with moving companies, custom framers, carpet cleaners, pest control services, lawn care companies, painters, electricians, plumbers, the list goes on. Just be sure to JV with those businesses who have products and/or services your customers may need (i.e. a realtor JVing with a video game company doesn’t make much sense).

Make a list of businesses who want and need a constant flow of leads: lawyers, doctors, dentists, realtors, home remodeling services, carpet cleaners, pest control services, etc. Broker deals between them where there is a fit to generate leads.

65) Leverage Buyers and Sellers - A business broker sent a letter to 30,000 CPA firms saying “We’ve got buyers ready to pay all cash to buy your practice whether you stay or not.” 500 people responded, so he took those 500 people out and mailed the other 29,500 firms saying “We’ve got 500 hundred firms right now that are big money makers ready to be sold. Owners will stay or not. Terms or cash is your choice.” Then it was a simple matter to match the buyers to the sellers, resulting in a million dollars worth of commissions. This is a very powerful technique that can be used in a variety of different ways.

66) Match Front-End/Back-End Products - If you sell a high-ticket back-end product, you can seek out people who don’t yet have a back-end product and JV yours via an affiliate program. Likewise, if you don’t have a high-ticket back-end product, the reverse is also true. There are plenty of expensive product and service sellers out there to partner with.

You can also broker deals between businesses selling front-end books and tapes and businesses selling back-end expensive seminars, for example.

67) JV a Sales Force - There are plenty of professional sales people that sell a variety of different products on a commission basis. It’s a snap to put an ad in the paper to get these folks to sell your products and services.

If you like this, just buy me cup of coffee. Thank you!

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