If you’re a math purist, you may want to skip this article. Because I’m about to show you how 1 + 1 can equal 3. Or 300. Or even 3,000.
Let me explain …
I’m on a ton of e-mail lists (as you should be). So I see what’s going on in the marketplace on a daily basis. And one thing that’s really jumped out at me lately is the high influx of "how to get more joint ventures" type of info products.
Seems like everyone’s got an e-book, a video, an audio, a teleseminar … you name it. And they’re all claiming to be the one that solves the joint venture (JV) riddle.
Well, I’m here to tell you something that may come as a shock … but it needs to be said.
You have to stop focusing on JVs. Because they aren’t the answer.
That’s right. Contrary to popular belief, JVs aren’t the golden ticket to business success.
Do they have a place in your marketing plans? Absolutely. I’ve done dozens of JV deals and made a boatload of cash from them.
But here’s the thing … JVs are only the tip of the iceberg. There’s more – MUCH more – to be had here.
I’m talking about going beyond the JV to establish a strategic alliance with another business.
In a strategic alliance, there’s a deeper, more congruent relationship than just being JV partners or sending endorsed mailings. It’s about developing an integrated mindset with one common goal … a side-by-side walk that will not only make your business explode, but your partner’s as well.
You’ll join forces on a more profound level, using your multiple resources to help grow each others’ businesses faster, easier, and more efficiently. Plus, with a strategic alliance, you’ll establish yourself more firmly in the marketplace and be viewed by the competition as a force to be reckoned with.
And that’s a very good place to be in, because that’s where the REAL money – and the explosive business growth – lies.
So how do you find a strategic alliance partner? Here are three tips to help you narrow the field.
1. Make sure your business is compatible with your potential strategic alliance partner’s business.
Would it make sense for me to approach the head of the Chuck E. Cheese chain about doing something together? Nope (although my daughters would strongly disagree). Look for a business that slides together nicely with yours, like two pieces in a puzzle. And make sure you have something of value to offer them as well.
2. Find a strategic alliance partner you can work with on a personal level.
There’s nothing more frustrating than attempting to establish a relationship with someone you despise or who drives you nuts. (Talking from experience here.) No matter how hard you try to ignore it, their idiosyncrasies will affect your decision making – and, ultimately, your bottom line. No, you don’t have to have them over for Thanksgiving every year. But you will be spending a lot of time together. So you’d better make sure you can put up with them on an extended basis.
3. Lastly – and this is most important – COMMUNICATE.
Set the parameters of the strategic alliance early on and stick to them. Put them in writing or, better yet, have your lawyer do it. There have been way too many multimillion-dollar agreements that started with a handshake but then crumbled because the two parties didn’t hash things out clearly. I don’t want to see yours do the same.
Now I know what you’re thinking …
Question: How does this all translate into 1 + 1 = 3?
Answer: Well, it’s very simple …
While JVs can offer a way to double your lists, double your profits, and double your business (which is basic math: 1 + 1 = 2) …
Taking the next step into a strategic alliance raises the bar exponentially, giving you multiple opportunities to grow the business on several levels – which is something that a simple endorsed mailing cannot do.
Furthermore (and possibly best of all), a strategic alliance delivers added value to your most precious asset – your customer base.
By allying with a strategic partner, your products become supercharged, delivering bigger and better benefits and solving your customers’ problems in a faster, easier way.
They no longer have to make several stops along the way to find their answers. They only have to make one – yours. And all this translates into more customers, more sales, and more profits to your bottom line.
So, as you can see, with a strategic alliance, that "2" doesn’t stay where it is for long. It starts expanding into 3 … then 300 … then 3,000. And it can keep going from there.
[Ed. Note: Rich Schefren, known in marketing circles as "The Guru's Guru," coaches many of today's top Internet experts. He's an online business exploder whose clients rake in more than $500 million every year - piling up more than $1 billion in sales every two years. From Rich and two other marketing masters, you can discover a turnkey formula for creating multiple, automatic streams of wealth on the Internet. Learn the details here.]
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