When I meet potential Joint Venture partners who have databases, the first thing I want to establish is the value of that database. What is the relationship between the person who owns or controls that database, and the people in the database? For example, does the database consist of people who merely submitted their e-mail addresses in order to access a certain web page or download a complimentary report? Or, do the people on that list actually know the owner? Do they know him or her personally? Do they like trust and respect him? Do they pay for their Membership on that list? How long have they known him / been members? I have worked with people who have only a hundred people on their list, yet that list proved more valuable than someone who boasted thousands of people on their list, but the latter had no relationship or credibility with the people on their list. Also, is their database growing or shrinking? You need to know the value before spending resources on accessing that list.
Now here is the Big Question that can literally change your life in Joint Ventures: “What will it take for you to enthusiastically, passionately, and consistently market me and my service / product to your database, with conviction and commitment?” This is a very important question, because we often assume that we know what they want. We need to know exactly what the list owner wants for himself and/or for his members. We need to know how badly, on a scale of one to ten, he wants what he says he wants. If he’s falling around a seven in terms of motivation, you might want to waddle away. Deal with serious, passionate, focused people and you will make more money. Moreover, make sure they understand your product or service, and, most importantly that they believe in it sufficiently to endorse it with the necessary faith and fervor.
Now, how does that question lead to big bucks? When you push the list owner’s “Hot Button”, when you can deliver what he really, really wants in return for exposure to his database, when you have his undivided attention and loyalty, he will promote and push your product or service with such credibility, conviction, and consistency, that you will automatically get a great response. The secret is in the belief, which that list owner has in you, and of course, the CONSISTENCY with which he promotes you. You’re not looking for a one hit wonder. You want him to use repeat exposure and spaced repetition to market you on an ongoing basis in order to get the best results.
What do you think this list owner might want, or better still, CRAVE, in return for his efforts to sell you to his database? It could be a multitude of things – access, leverage, reciprocity, commissions, relationship, ego, a trip… don’t GUESS – let him tell you! Pushing someone’s Hot Button is often easier and cheaper than you might think.
So, go ahead. Find someone with a database. Establish the value of that database. Then ask the question. Then decide whether or not you can deliver what that list owner wants. If you can and if you want to, go forward and earn the big bucks in a satisfying, mutually beneficial Joint Venture. In addition, always have a number of JV’s running simultaneously, so that you can leverage your time and spread your risk through concurrent marketing JV’s.
Robin J. Elliott www.DollarMakers.com
A Powerful Question = Big JV Bucks - To learn more about this author, visit Robin Elliott's Website.
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