3 Mistakes You Might Be Making When Approaching Joint Venture Partners
Are you frustrated in your business because you can't quite seem to connect with the right Joint Venture partners? You send out emails, or connect with potential Joint Venture partners on social media, and they don't respond, or politely decline, “Thanks for the invite, but my calendar is already full with JV's.”
Joint ventures are the fastest way to build your tribe and grow your business. Just ONE Joint Venture partnership can introduce you to hundreds, even thousands, of prospective customers and clients that are interested in your programs, products and services.
And you do want more clients and customers, yes?
Here are 3 mistakes you might be making when approaching potential Joint Venture partners that are keeping you from experiencing the client abundance you are SO ready for:
Mistake #1: You don't target potential Joint Venture partners that are aligned with your message and market. In order for a Joint Venture partnership to be powerful and profitable you and your JV partner should serve an ‘aligned Tribe' and share a big picture message. That means that both of your communities should benefit from your coming together. For example, my message is all about building your Tribe through online events. One of the ways that I share this message is through my blog and social media. I'm partnering with my friend, Jeff Herring, on a webinar that he's hosting on creating profitable content in under 20 minutes. It's a good match because my folks need to know how to create profitable content to share their message! It's a BIG mistake to focus only on list building and income generation and to partner with someone whose message, tribe and energy doesn't create synergy with your own.
Do This Instead: Do your research! Sign up for a potential Joint Venture partner's email list, attend one of their teleseminars or webinars. Notice their energy and style, does it match or complement your own? Do you have a lot of the same ideas, do their ideas segue with your own? Go ahead and purchase one of their products, this way you have a personal experience of their work. Once you have a feel for your potential JV partner's style, message and the folks they serve (their market or niche) you're much better positioned to approach them for a possible Joint Venture.
Mistake #2: You don't create a personal connection before approaching your potential Joint Venture partners. There are lots of great businesses out there. Why should someone partner with you? You know that you need to nurture the know, like and trust factor with your potential clients and customers. It's no different with your potential JV partners. People like to partner with those they know, like and trust.
Do This Instead: Take the time to get to know your partner. Give first! Comment on their blog and social media posts. Share their content and offers. Get on their radar. It's a lot easier to approach someone once you have a ‘warm connection' than to email someone cold. Successful entrepreneurs are inundated with JV offers. You'll boost the odds of your email or message being opened, when you look to create an authentic connection first.
Mistake #3: You don't give your potential Joint Venture partner enough lead time. Joint ventures are a ‘best practice' for successful entrepreneurs and you can bet they have a network of joint venture partners already. Chances are that's how they've grown their business, by partnering with aligned businesses who share niche markets. Most joint venture partners that I know plan out their JV's.
Do This Instead: Give your potential JV partner enough lead time, usually 3-6 months. If you're hosting an online event, or a product launch, in December make sure that you contact your potential JV partners by May or June.
Bottom Line? When you take the time to connect with aligned partners and map out your Joint Venture partnerships you are creating a solid foundation to grow your business. You'll inevitably grow your list and boost your impact, income and influence.
And the quickest way to connect with more JV partners is to grab your Juicy JV Jumpstart Training.
Brought to you by Adela Rubio, Joint Venture Mentor and Expert Tribe Builder.