Talent is what you possess; genius is what possesses you
IBelow are some good examples of offline joint ventures:
Sarah sells Avon and her friend Amy owns a health spa for women. Their two products are both geared towards women, or more specifically, the beauty of women. Amy and Sarah see a way to help each other out in their businesses. First Sarah leaves a number of monthly catalogues for her Avon business at Amy’s spa.
She also provides Amy with samples of products that women who visit a health spa would be interested in. Amy supplies Sarah with discount cards and Sarah gives each of her customers one of these discount cards which entitles them to a free visit and a discount off their first year of membership.
Both women find that business has vastly increased and both are happy with the arrangement. As a Deal Maker, can you find two complementary businesses like this and set it all up? If so, then you could take a percentage of the sales that Sarah makes of her Avon products through Amy’s spa, and you can also make a percentage of the sales that Amy makes from selling spa services to Sarah’s Avon customers.
Robert is a joint venture broker and approaches 25 different businesses to get each one to offer him a sample or taste of their business to give away. For example, Business 1 is an accountant who gives Robert a coupon for a free consultation worth $200. Business 2 offers samples of its products worth $50 and Business 3 offers a free single room carpet cleaning coupon. These valuable coupons and samples come with the understanding that, if the sample of free consultation or service results in business, Robert gets paid an on-going commission on ALL resulting business for a certain period of time. Robert is now armed with hundreds and even thousands of pounds worth of coupons, gift certificates and samples that didn’t cost him anything.
Robert now approaches different businesses and tells them that if they gave him a list of inactive customers and he had a proven way to ethically bribe them and entice them back to reactivate these customers with his “Welcome Home” package worth hundreds of pounds along with a proven scripted marketing approach, would the businesses be prepared to pay him a percentage of the on-going business, which they wouldn’t have had, over the last one or two years? Not only does Robert get a percentage of the reactivated customers but also a percentage of the sales from ALL the businesses providing the coupons!
Carol owns a flower shop, but her customers often ask for specialty gift baskets. She doesn’t personally know anyone who does gift baskets and decides that this is not something she wants to take on herself. She needs someone who can do beautiful specialty gift baskets. She does know someone who has done joint venture deals in the past, so she contacts them and gets the name of their joint venture broker. Carol contacts the broker and tells the broker what she needs—to be able to supply her customers with gift baskets when they request them. She expects, of course, to keep some of the proceeds from the sale of the gift basket herself. The broker contacts gift basket makers in Carol’s area and finds one that agrees to work with Carol.
Now, when one of Carol’s customers asks if they do gift baskets she can tell them yes. She takes the order, contacts the gift basket maker, has her delivery person pick the basket up and then has it delivered to the recipient. The gift basket maker is then paid monthly for all gift baskets that have been done for Carol’s customers and Carol makes a profit as well. The joint venture broker gets paid their agreed percentage of the sales as well—everyone is happy.