Make them feel important and valuable. Instead of sending them a hard-sell proposal loaded with details and percentages send them a quick note that starts off by briefly explaining your interest in finding a partner because you want to grow your business...
Then ask them how they're doing with their business. Or perhaps you could congratulate them on a recent achievement based on your research by asking them "how they pulled it off".
This puts them in the "expert" seat, and it makes them feel important because you're asking about their business. Most importantly, they'll see you as being sincerely interested in their well being - and that will go a long way when it comes to building trust - and ultimately, a joint venture.
• Buy their product or use their service first. If it's applicable to your situation, you might find that it's alot easier to get "in" with them if you start off by purchasing their product, advertising on their website - or by offering to help them in some other way.
It's been my experience that this is often well worth the up-front "investment". You can use the chance to compliment a product or discuss advertising as a way to start building rapport - as well as subliminal interest in working with you.
• Find out what you have in common. If possible, find out if they share a similar interest or hobby. This "link" can be extremely powerful in building rapport - as well as getting to know them.
People generally get excited when they can take a "break" from their daily routine by talking about their interests with someone who shares their passion. They will begin to associate "you" with the things that they enjoy. This will exponentially increase the chances of them saying "yes" to your proposal or offer.
Chances are, they'll probably look forward to it...
Note: See a real-life example of how to turn skeptic prospects into willing partners by reading our case study on Gabriel Howe’s called "How to Make JV Prospects Approach You"
Joint Venture proposals are explained in depth at "How to Write a Killer Joint Venture Proposal", but in brief, here are some guidelines for a JV Proposal:
• Focus on their benefits. And make those benefits substantial. For example, if you're pitching a product endorsement, give the endorser the majority of the profits - while the product owner makes a killing on backend sales later on...
• Stress the simplicity of the deal for them, and emphasize the weight of your workload. Be honest, but make it sound like they're getting the "upper hand" of the deal. Because in reality, they are.
• Be very specific about the details. Being vague will only create confusion and possibly distrust. Be sure to include things like commission percentages, realistic projections based on FACTUAL data (such as current sales letter conversion rates), additional benefits, etc.
• Educate them about the real value of joint ventures: Backend Profits. Explain to them that each new client is very likely to buy from them again, and again...
• Keep it Personal. Don't make it sound like you're selling them something, because you're not. Pitch the deal within the context of your current relationship - don't be "over-professional".
• Make your offer absolutely irresistible. Do anything and everything that you can to make this offer so good that they'd be a fool not to jump on it.
After they've accepted the offer, you may have to negotiate with them to ensure that the deal is optimized for everyone involved. Remember that a Joint Venture isn't a transaction - it's a win/win partnership for both of you.
Negotiating is simply finding the "sweet spot" where everyone experiences the maximum amount of benefit. Be willing to bend, but don't let them walk all over you. Keeping the backend profits in mind, always look to create a winning situation for everyone involved.
Again, be sure to stress their benefits throughout the entire process.
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