Joint Ventures and Strategic Alliances

“There are several cash holes a new business must address and plug up right away.”

By Wally Carmichael

You’re a new business owner and you need to start generating a positive cash flow right away. This sounds like a “no kidding” statement, right? But did you realize, few businesses start generating profits in the first couple of years? This does not have to be you. And if this is you, get ready to turn that around over the next couple of months.

There are a several cash holes a new business must address and plug up right away. Just a few include suppliers, waist, employee theft, financing interest, and the list goes on. One of the biggest drains on your cashflow is ineffective marketing and advertising.

Marketing and Advertising are certainly important for the longterm growth of your business. The problem is, most business owners come out the gate trying to market like they are a Billion Dollar business. You do what’s called Brand Builder Marketing. The reason brand builder marketing will not work for your business is because you don’t have a brand, yet. It does nothing to set you apart from your competition. It does not target your ideal clients. It does not mention your Market Dominating Position (MDP), in most cases. And it does not use the Conversion Equation.

As powerful as the MDP and Conversion Equation are, I am not going to teach these marketing strategies today, because you need immediate profits. Just know, your MDP is what sets you apart from your competition. And the Conversion Equation is the most powerful marketing strategy.

What I’m about to share with you is, by far, the best way for all new businesses to generate leads, get to know the needs of your market, start building a reputation as the leader in your market and generate immediate cashflow. That strategy is Joint Ventures and Strategic Alliances.

You may have heard about Joint Ventures (JV). You may even believe you have a few JVs already set up. But chances are, you have not properly monetized your JV partners.

One of the easiest and fastest ways to grow any business is through monetizing your JV partnerships. And best of all, in the vast majority of cases, there are NO upfront costs associated with using a JV strategy.

JVs involve two or more businesses forming a partnership to share markets or endorse a product or service to their customer base… and then exchange a share of the revenue from the sales made from the relationship.

The best way to get started is to ask two key questions:

Who are my ideal clients?

Who else already has access or a database to my ideal clients?

Once you make a list of all the businesses who serve your clients in a different and non-competitive way, it’s time to make a very compelling offer.

Being unique, or having an interesting twist or hook, will definitely increase your chances of getting noticed. But regardless of how you approach your prospective partner, it’s important to craft the offer in a manner that shows the benefits to your potential partner.

There are a few tricks to motivate a potential partner. Look at all the potential benefits your partnership provides. Don’t stick with the obvious. Dig deep, and list all the benefits they get from doing this venture. Invite them to experience your product or service for themselves. Let them try it at no cost if possible.

Remember, when they endorse you, they are putting their reputation on the line. It’s critical that you show your potential partner how their clients or prospects will benefit from your offering, and if possible, always position the offer so your partner gets to take all the credit and looks like the hero for recommending you.

If your partnership will make your partner look good, what will that translate into?

More money? Of course. A JV relationship can also open up new distribution channels that you both can exploit… or reveal new markets for you both to enter. Chances are great that you will both increase your opt-in lists, allowing additional sales to occur in the future as well as the present.

I can’t stress to you enough the fact that there’s got to be something different your JV relationship offers.

Once you get this process down, you can create Joint Ventures with others in your event chain.

Wally Carmichael is a leader in Living a Life of Abundance. His No BS, fun and exciting approach to life and business stem from his tough upbringing and 25 years as a US Army Airborne Medic.

Wally authored “No BS Business Breakthrough - How to Double Your Lead Conversions and Triple Your Revenue in Less than 45 minutes.”

His obsession is uncovering hidden revenue in your business without you spending any more on marketing and advertising.

Wally’s world travels, extensive connections and ability to create unique business strategies make him a popular resource for business owners who are ready to finally live the life of Abundance and Prosperity you know you deserve.

www.WallyCarmichael.com