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Intentional Joint Ventures

Guest post by: Jeanna Gabellini

Article Overview: There are many creative ways to partner with other people and businesses to boost your list size, increase sales, bring forth new products and sales, and add value to what your business already offers. I’ve always found joint ventures to be fun and if they put some extra cash in my pocket, all the better. Whenever I do a joint venture, it rocks our worlds in a positively huge way!

Intentional Joint Ventures

I’ve been doing joint ventures (JV) for over a decade. Last week I had a major aha moment that will change the future of every JV I do.

"A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and, of course, profits." – Valerie Orsoni-Vauthey, ‘Happy About Joint Venturing ‘

There are many creative ways to partner with other people and businesses to boost your list size, increase sales, bring forth new products and sales, and add value to what your business already offers. I’ve always found JV’s to be fun and if they put some extra cash in my pocket, all the better.

Last year, my mastermind buds told me about a great event they attended. I was very pregnant at the time and was doing as little travel as possible. This event was specifically for coaches and experts who support entrepreneurs in building their businesses. I made sure the event was a priority for me this year.

Part of my marketing strategy this year was to tap into new markets by connecting with rock stars in my industry who offer services and products that I can fully get behind. The JV Networking Summit, hosted by Christian Mickelsen, was the perfect fit for me.

While at the summit, it hit me. I’ve just been “squeezing” in promotions, supporting people I like and doing projects with people who have great insights. I also send out copy for my affiliates every month letting them know which projects of mine they can support each month. While there is nothing wrong with any of these actions, I realized I haven’t been intentional ... at all. Gasp!

Can you believe it?! I couldn’t. Here I am spending my time and energy, along with my team, and not really producing results from my JV actions. I was just doing the minimum amount of effort to do what needed to be done. Heck, I give more thought to pruning my roses every month than I have to all my JV’s.

Don’t get me wrong, it wasn’t for lack of enthusiasm. I really do love every person I partner with…but I never sat down and asked myself the most important questions.

• What is the desired impact on my business from doing this JV?
• What is the desired outcome I want for the JV partner/s?
• How will I connect with them during the JV for maximum ease, fun and profit?
• Who do I need to be and what to I need to do to have this JV experience be showcased for the highest good of all?

What a concept, huh? I’ve been intentional about who I’ve partnered with but not how I moved forward with them. And I’ve known for a while that I’ve lost money and time on several JV’s because I was focused mostly on what needed to be done to make it happen and not enough focus on how we could best serve each other in the partnership.

My lack of intention created lack luster results for my team, the partner and myself. I’ve made a major decision to always be intentional and strategical in every JV partnership from this point forward. If I can’t say HELL YES to giving it 100% focus, then I will say NO.

I’m very excited about my big aha. My JV partners will be, too!

New attitude: Whenever I do a JV, it rocks our worlds in a positively huge way!

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Article Tags: alliance, business, connect, Jeanna Gabellini, Joint venture, JV, network, partnership



Related Forum Posts
Joint Ventures?? - I read this following paragraph in another business forum. Has anyone used joint ventures and had successful results? How do you go about setting up joint ventures? [quote:3vnvuml9]Joint Ventures have been, and always will be one of the most powerful marketing tactics ever, and for good reason. They are easy to set up, and they cost you nothing and if set up correctly will allow you to have more customers than you can handle! So if you promote a great product or service and want to expose it to more prospects, or you you seek ways to increase your sales, but aren't quite sure how to go about it you should definitely consider harnessing the power of Joint Ventures And the best part is that anybody can start using joint ventures to skyrocket their profits. It doesn't matter what you sell, or where you sell it.[/quote:3vnvuml9]
Re: Marketing a company - Get their contacts from someone who had been marketing to them before and do Joint Ventures with the guy
Free Ebook on Joint Ventures - Julie, you might be interested in the free ebook offer through Dollarmakers.com on Joint Ventures that has upto 30 variations for a small business to create joint ventures. Once you've read it I'd be happy to share more advanced ideas based on the book.
Different types of funding - Business Relationship Funding This is another source of funds that can be overlooked. It may be possible to introduce potential alliances to add value to both parties. It may produce an ultimate exit route in the medium to long term. Joint Ventures: Requires a legal agreement embodying the deal and another company Partnerships: Two companies collaborate with possible funding. Joint working relationships: These are an informal partnership which may be more project specific where the parties can share resources. Agencies: These can be geographical or product specific and generally incorporates a payment for the right to the agency. Distributors: Very like an agency but may not necessarily involve up front payment. Alliances: These do not require a separate company and can be embodied by a legal agreement to work together. Trade investors: Otherwise known as Corporate Partnering. This can be a good way to involve a much larger company in the business with a view to possible trade sale further down the line. Associates: This can be a loose arrangement with no fundamental commitments either way, rather like a preferred supplier. Equity Swop: Two companies exchange shares to a similar value to develop both businesses. Franchises: This can allow the business to grow without further direct investment. Licensing: This involves licensing a product or service to enable others to sell it. This requires you to own the intellectual property.
Joint Venture - How did the seminar go yesterday? Joint ventures can open up so many possibilties and are a great way to promote your products and/or services to a whole new and with the right base, to a targeted audience. Chris


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