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Developing Win-Win Joint Ventures
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By Jay Abraham

I prefer to think of joint ventures in terms of what I call a host-beneficiary relationship. In essence, you serve as a "host" introducing someone else's complementary and appropriate products or services to your customers--preferably under your express endorsement.

You can do this in many different ways:

First, you could send out a letter offering the product or services to your customer or clients. Then you could follow that letter with a phone call. If you can't do this because you don't have the people, time or money, then get the company whose product you're endorsing to do it for you.

A second possibility: Let representatives from the beneficiary company set up a table, booth or desk in your office--or let them make sales rounds with your salespeople.

Or you could put out a promotional announcement or sales letter about the beneficiary's product or service in packages or statements you send out. Or you could allow the beneficiary company to share exhibition space with you at trade shows, or in ads.

Here are some examples you'll recognize: Allstate insurance booths at Sears stores. Offers for electronic goods and watches tucked in with your charge card bill. The FedEx logo and add-on shipping offer with catalog pages.

I promoted this newsletter through endorsements to different people's mailing lists. I can go on, but I'm sure you get the general idea.

You can set up a host-beneficiary deal in one of two ways--depending upon which role you're playing. We assume that you are the one who'd be introducing customers, clients or patients to someone else's product or service.

But, of course, the exact opposite works just as well. You can get tons of businesses and professional people to endorse you and your product/service to their clientele. It's easy.

Start by identifying the businesses with products or services most compatible and suitable to your customers. Next, contact the owner, president or general manager of the targeted enterprise. Introduce yourself, explain that you've spent X years and Y amount of money developing goodwill with your customers.


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