Joint Ventures - Part III
Leverage Buyers and Sellers A business broker sent a letter to 30,000 CPA firms saying Weve got buyers ready to pay all cash to buy your practice whether you stay or not. 500 people responded, so he took those 500 people out and mailed the other 29,500 firms saying Weve got 500 hundred firms right now that are big money makers ready to be sold. Owners will stay or not. Terms or cash is your choice. Then it was a simple matter to match the buyers to the sellers, resulting in a million dollars worth of commissions. This is a very powerful technique that can be used in a variety of different ways.
Match Front-End/Back-End Products If you sell a high-ticket back-end product, you can seek out people who dont yet have a back-end product and JV yours via an affiliate program. Likewise, if you dont have a high-ticket back-end product, the reverse is also true. There are plenty of expensive product and service sellers out there to partner with.
You can also broker deals between businesses selling front-end books and tapes and businesses selling back-end expensive seminars, for example.
JV a Sales Force There are plenty of professional sales people that sell a variety of different products on a commission basis. Its a snap to put an ad in the paper to get these folks to sell your products and services.
The Neon Sign Approach I call this the Neon Sign Approach because Jay Abraham talked about a particular JV deal with a neon sign maker. He would have high school and college students drive around at night and look for neon signs that were not lit or only partially lit. Then he would pay them per find, and report those locations to the neon sign maker. Voila! Instant leads.
A variation on this approach could be done with motor vehicles. There are numerous services to get the names and addresses from a motor vehicle registration plate. Those same high school and college students can be on the lookout for broken taillights, body damage, cracked windshields and the like. When they find one, they write down the license plate information and give it to you. You can then supply the leads to auto repair shops, body shops, windshield replacement shops.
What if you owned a furniture store? You could JV with door-to-door salespeople and have them on the lookout for badly worn furniture. Theyre already going to be in their prospects living room, right?
How about the furnace maintenance person who keeps an eye out for water damage in the basement? If you offered basement-sealing services, wouldnt you want as many furnace maintenance folks as possible getting you leads?
to be continued....
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