Creating Your List of 100 Ideal Joint Venture Partners
It’s so much easier to get to where you want to be when you’re riding on the coattails of those who are already more successful than you are. It’s also easier to get to where you want to be in business when you work with those who bring something different to the table than you bring.
We all have unique talents, insights, and skills. Whether you’re new to business or you have a lot of experience, there are a ton of opportunities for you to join forces with other business owners to achieve something great.
When you Joint Venture partner with someone, it’s very important to make sure you’re both bringing something to the table. If you’re like most business owners, then there are definitely those you admire. If given the chance, you’d absolutely love to work with these people.
These people you admire have something you crave for your own business. When you think about the possibilities that can come from working with them, the ideas explode like fireworks in your mind.
You’re sure that things could change in a major way—that you could make a lot more money, get more customers, and gain more authority– if you could work in a Joint Venture partnership with some of those you admire so much.
Well, it’s time to make it happen. You don’t have to sit on the sidelines just wishing this could happen for you. You can take control over who you work with. With just a little bit of effort, you can work with people you never dreamed would work with you in reality.
Part of it’s about positioning. You have to know exactly what you bring to the table and be able to make it very clear to the other business owner that you have something great to offer.
Figuring Out What You Bring To the Table
Before you consider partnering with other people, it’s important to figure out what you bring to the table. It doesn’t matter if you’re new or very experienced; there are things you can offer that will be enticing enough for even some of the most experienced and successful people to work with you.
If you’re already successful and have a large list, then it will probably be fairly easy to get people to work with you. Having a large list is a hot commodity. That means building a big list is one of the best things you can do to encourage joint venture partners to sign on with you.
Again, it doesn’t matter if you’re new and just starting out. You can still get people to work with you. Are you a good writer? That’s great—you can create a product that your joint venture partner then helps to market.
Are you good at graphics, affiliate recruitment, or something else? Can you create something marketable that someone else could come in and promote the heck out of? That’s great—that means people will want to work with you even if you’re new.
It’s time to figure out what your skills, talents, and assets are. That’s because you’re going to approach potential JV partners over time, connect with them, and see if there’s a match there so you can work together.
Choosing the Right Potential JV Partners
Just because someone is impressive or successful doesn’t mean they’re someone you should work with. You won’t be a match personality wise for some people and they won’t be for you. Your work style won’t mesh will with some people and others won’t mesh with yours. That’s okay—it’s important to think about compatibility.
You can never completely predict whether someone will truly be compatible with you until you start working with them. With that said, there are clues you can look for upfront.
Do you have similar goals and working styles? Do you have a similar work ethic? “Similar” is almost a misnomer because sometimes the things that make you different are the very things that will help you work well together.
As you move forward and create the list of people you’d like to work with, keep in mind that you can’t and shouldn’t work with everyone. It’s important to consider the experience you’ll have and the results you want to have so you can achieve your goals.
Making Your List Of 100
This is where it really gets exciting! It’s time to make a list of 100 potential JV partners. Your list of 100 will include those you would love to work with. These are people and businesses you admire. You see a clear and immediate benefit that would come from getting to work with these people.
Some of these potential JV partners will end up being long-term partners for you. You might work on a variety of projects together. Others will be just little projects—perhaps little more than an affiliate relationship. That’s okay—it can really help you grow your business to work with a variety of businesses on a variety of things.
Creating a list of 100 people might seem like overkill, however. Who could possibly work with that many people or even think about working with that many people? Not me—and not you.
The thing is that you’re not going to get to work with everyone on your full list of 100 people. That’s not a criticism of you at all, that’s just a reality.
You’ll want to work with some people and they’ll never get back to you.
You’ll want to work with others and you’ll communicate back and forth but in the end it won’t work out.
You’ll want to work with others and they won’t want to work with you.
Okay, that’s the bad news.
You’ll want to work with some people and it will work beautifully. It will boost your business and their business.
That’s why you make a list of 100 people you’d like to work with. This is a brainstorming thing as well as a researching thing. Who are the heavy hitters in your niche? Who has what you want?
The 80/20 principle applies here just as well as it does anywhere else. 80% of your results with joint venture partners will come from 20% of your efforts.
Go ahead and get started. Make a list of 100 people you’d potentially like to joint venture with. This exercise might take you a while—just get it done. I think it will be a great exercise because it helps you dream about your business and where you want to take it. It helps you solidify your goals and the vision you have for your business.
Contacting People on Your List Of 100
After you’ve made your list of 100, make sure you have a solid plan for how you’d ideally work with each one.
Now, you’re not just going to send them requests to work with them. This list of 100 is a long-term project.
Do you already know some of the people on your list already? Great! Those are who you might want to start with.
You won’t just email or call these people “cold” to try to strike up a JV deal. I highly recommend that you use this list of 100 as a list of those you’d like to build relationships with.
Find and follow the people on your list on social media. Read their blog posts and become an active commenter. Join and participate in forums they’re a member of. You’re not stalking them—you’re strategically putting yourself on the map.
Then, as you develop relationships and hone in your skills and what you have to offer, you’ll start asking about potential JV relationships, partnerships, and projects.
You might work with 10 of these people this year or close to all 100. You’ll drop some names off your list and add others. The point is that you’re making an effort to build relationships and work together in a way that will be mutually beneficial.