Most entrepreneurs have been taught that you have three options with any prospect. First, you can sell them something. Second, you can sell them more than once. And third, they may refer new business to you. This is a linear, traditional way of thinking. In todays world, we have to think in terms of viral marketing and multiple impacts. In order to illustrate a simple Joint Venture scenario, lets use the example of someone who recently joined the DollarMakers Joint Venture Forum. Well call her Carol. She has one thousand clients who know, respect, and trust her. How can she use Joint Ventures to make a serious amount of money, fast?
I suggested Carol start off by leasing a Replicator Website, which will track all business and pay her up to 50% of all sales, including the sales of audio downloads, training, Memberships, more replicator sites, my book, etc. I would then write a very compelling letter for her to send to her database and friends, inviting them to visit her site and obtain a complimentary audio download, which I would create specially for her clients applicable to their specific type of business. Carol would send out this email and two follow-up e-mails, which could make her a significant amount of money.
Then she would send each of her thousand clients five Gift Certificates as a Thank You Gesture for their loyalty and patronage. Each gift Certificate would offer her clients a complimentary service worth at least $100. The supplier of the service would pay for the printing and postage. For example, a business consultant might offer a complimentary consultation worth $150. Each Gift Certificate would be designed to provide real value and entice the user to buy more of the service. Carol would have negotiated an ongoing percentage of all the business resulting from each of these 5,000 Gift Certificates that she distributes. In other words, when any of her clients started using the business consultant, accountant, lawyer, yoga trainer, spa or coach, Carol would receive a monthly check from that service provider of 20% of the total monthly bill. This would create ongoing, multiple streams of passive income for her
Then, Carol could offer her clients a range of special prizes, all sponsored, which they could win. The way they could win these prizes would be to get everyone they know onto a certain conference call or to attend a seminar, which I would present, and the client who put the most people onto the call or into the seminar, would win the top prize. That way, Carol would use viral marketing to access her clients databases with their permission. One of her clients has 10,000 people in her database. Any sales resulting from the Conference Call or Seminar would earn Carol additional income.
I could go on all night with different ways in which Carol could continually add value to her clients and make more and more money, in more and more diverse ways, as well as significantly grow her database.
In the above scenarios, Carol did not spend one cent. She continually gave away valuable information, prizes and services to her clients at every turn, as a thank you gesture for their patronage. She never tried to sell them anything. I would conservatively expect her to make at least $15,000 and an ongoing revenue stream in addition to that. This is all pure profit to her. This system of accessing databases, giving stuff away at no cost, adding massive unprecedented and unexpected value and continually, exponentially expanding the options and reach, is typical of the atomic power of Joint Ventures.
Another simple example is one of our members who is encouraging a large organization to purchase a large number of my books. We would brand the books for the organization and it would sell the books as a fundraiser. Sponsors would pay for the books. The Sponsors would be mentioned in every book, resulting in great advertising for the Sponsors. The Member would have all references to Joint Ventures in the book mention his particular Replicator Website, which will generate a significant amount of income for him. He will also earn a commission on all books bought by the organization (paid for by the Sponsors) since he is initiating the deal. In addition, we would include Gift Certificates in the books and the Member would earn an ongoing commission on all business generated by all the Gift Certificates.