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Joint Ventures for Coaches and Consultants

Written by: Robin Elliott

Article Overview: Many Coaches and Consultants experience the "feast or famine, chicken or feathers" ups and downs in income - they're either out there selling, or they're delivering. Here’s the key to overcoming the Boom-Bust Blues!

Joint Ventures for Coaches and Consultants

Many Coaches and Consultants experience the "feast or famine, chicken or feathers" ups and downs in income - they're either out there selling, or they're delivering. This results in a yo-yo income. They have to deal with busy times and quiet times and increasing competition, and, because they're selling time, they have limited income earning capacity. Many clients regard the consulting or coaching service as a luxury that can be terminated as soon as cash flows get tight. In addition, the popular perception of coaches and consultants leaves a lot to be desired, which is quite understandable, given the fact that many who use this label are about as valuable as a rotten peach on a busy sidewalk.

How do I know this? I was a consultant for eighteen years. And I’ve specialized in Joint Ventures for small and medium businesses for nineteen years. The solution to increasing your coaching or consulting business as well as income from other sources, while at the same time differentiating yourself from the herd, is Joint Ventures. It's a great fit and a great complement to any coach or consultant's business. Use your insight and communication skills to create lucrative JV's. Have the money and the time to enjoy it, as well as the luxury not to rely on your income from consulting or coaching. This is exactly what I did. I no longer sell my time as a consultant, but this information has worked for me for eighteen years and it will work for you.

First, understand that you do not have a 100% profit margin, which you do have from Joint Ventures. Second, know that you cannot possibly be all things to all men. Third is the hardest – getting rid of that giant ego. I think ego is the enemy of coaches and consultants. Business is not about sales or being well known – it’s about bottom line, after tax PROFIT. You have the ability to cut through the BS and guide and direct people. You can gain their trust. You are a good communicator and you have an understanding of business and human nature. These are very powerful skills and tools in the hands of a Joint Venture Broker.

If my doctor called me last week and informed me that he had a great deal on heart bypasses, I would get worried. Instead, he examines me and points me in the direction of a solution or relief. That’s real business. “Find a need and meet it.” In a room of 20 “Business Networking” people, not everyone wants a coach. But they all have needs, hopes and dreams. If you’re there to make money by helping people, why not simply link these people, be they clients or prospects, with the solution to their needs and get paid for it? When they want a new car, why try to sell them coaching, instead of introducing them to a good realtor and getting paid 20 – 50% of her commission? Easy money, no time, no risk, 100% margin. Think about it.

Business consultants can make a lot more from triangulating JV deals than selling their time. Become a “Toll Gate” – something like Bill Gates. Create solutions that pay you well. Leverage other peoples’ time, resources, money and access. Something like Ari Onassis. Think about that! You can find more information at www.jvwisdom.com.

Related Articles
  Joint Venture and NonDisclosure Agreements
  Advantages and Disadvantages of Joint Venture
  Funding Resources
  The Importance of Joint Ventures
  Joint Venture

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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.
Why pay a Consultant? - Consultants can bring you into contact with a Funding Source but how do you tell whether a consultant will be successful beforehand? Professional Consultants ALWAYS ask for some kind of retainer so that they can feel they're not being used by a 'chancer'. However, when raising funding, a real consultant will offer to REFUND THAT RETAINER out of the % BROKERAGE he charges, payable once he finds your Funding Source, and payable from initial disbursements. Retainers only cover part of the costs that a consultant has to pay while working on behalf of the Client. Their real wages come from the agreed upon Brokerage, received when they are successful on the Client's behalf.


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