a true JV, my 6-fig JV, 7-fig JV and (gulp) 8-fig JV??
Exciting news. Well... to me. This won't make a hair of a difference in your world.
Today we took steps into a brand new JV. A potentially very very rewarding one.
But first, a note...
"JV" gets used in the IM marketspace dialect as synonymous with "who can I get to sign up as an affiliate and sell my stuff for me".
Sure... an affiliate partner or "distribution partner" is a form of a joint venture. But it's probably the most basic form.
If you develop some creative JVs, you have potential at much bigger results.
Examples...
My first "JV" (at least in my terms) developed out of a client relationship which has now resulted in a project management role. That JV brought a product line / brand to me that needed a complete overhaul of the marketing/sales strategy.
It's just NOW really starting to take off but that JV is already shy of the quarter mill mark (gross sales). By the end of this year, it should be 7-figs. Otherwise by early next year, it will certainly reach 7-figs gross sales that both of us (me and the joint venture partner) will benefit from. Sales NEITHER of us would have seen and neither of us would have been able to create individually this fast.
This is a JV that I plan on working with for a few more years. And I expect it will yield multiple 7-figures NET for me.
My second "JV" was with Jeff Mills for the Canada Marketing Summit. It developed over numerous Skype conversations and literally within 4 part-time months we went from "we should team up" to 6-figures in sales and a brand that I'll use this year to produce additional 6-figures (projecting $250k). Again, on my own (or Jeff on his own), this wouldn't have taken off. We each brought expertise and assets to the equation... built it fast... produced faster sales. I now own the brand as Jeff moved back to his own seminar series but, it was a great JV for each of us.
My 3rd JV, as of this morning, is one that has every bit of promise to be a $10 mill+ annual company. I'm actually being conservative because over the next 3 - 5 years, there's no reason why we wouldn't be able to build this joint effort into a brand new $20 + mill company. But that's of course "future thinking" and projections. I'm just guessing those numbers based on past experience, past knowledge. Currently the dollar value of this JV is of course $0 ... but it's a very exciting one.
Now I'm just looking for one final JV partner ... I have A LOT of assets in the biz opp, affiliate marketing, make money online, work from home, internet marketing newbies space. A LOT of content and a LOT of launch and marketing plans drafted, sites, leads, buyers, affiliates. Everything. There's at least a half-mill per year company worth of assets here and much of it is gathering dust. So... you can be sure that while I'm out there looking for "JVs" (in the IMer sense... meaning recruiting affiliates), I'm also on the look-out for the next strong true JV.
The summary of this rant: find companies, vendors, merchants, marketers, peers who can compliment or enhance your skills and assets and create a true JV. Because when you find the right JV partner and put together a project or launch from that... 1 + 1 all of a sudden doesn't equal 2 ... meaning, you'll MORE THAN DOUBLE the level of pace, production and profits that either of you would accomplish on your own.
And even in your affiliate recruiting... don't be afraid to customize. Create a special offer, a special landing page, special pricing for your "JV partner". If they get behind a promotion and are savvy, they'll promote that special bundle 3, 4 or 5 times to their audience. That could be a quick $10k+ to them and to you. Don't just say "here's my cookie cutter affiliate pitch page, go sign up and sell my stuff for me". If it's a strong player, find out how YOU can better cater to THEIR audience, get creative, get generous, and put something together that will be a no brainer for them to promote more than once.
Re: a true JV, my 6-fig JV, 7-fig JV and (gulp) 8-fig JV??
I don't know what I can add without thinking...and I am unable to do that right now.
I agree with everything you said...except the first line. That is exciting news and I'm excited for you. It also shows us what is possible...nay, realistically possible! That's at least worth a couple hairs.
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