As small business owners, we have all had the notion at one time or another that we need to do it all ourselves.
I often say that there is no such word as SOLOPRENEUR.
And I wholeheartedly believe it.
Not only do I have a fantastic business coach who helps me stay on top of my game, but I also have a great team that works with me behind the scenes.
And I help them do the same.
These are the people I call my JV partners. They are my joint venture partners, who are busy building successful businesses of their own. And we are helping each other, because that’s what terrific business owners do.
They know that you don’t have to do it all yourself (in fact you can’t, if you want really high levels of success).
They know that there is no real competition (there isn’t, there are more than enough clients out there for everyone).
And they know that they can quickly and easily reach much larger groups of potential clients by partnering with others who have audiences of their own.
So we share. We talk about what is coming up in our business, and we help each other get the word out.
Joint venture partners should not be one-off partnerships. It’s important not to say yes to everyone that asks you to team up with them.
You have to make sure that their message resonates with you – and with your audience.
You have to make sure that their brand supports success the way that yours does.
You have to ensure that you both plan to build a long term relationship with them.
And yes, you want to have a commission structure in place for any referrals that you give each other.
It’s not about money (all the time, though it is most of the time!) but it’s about the commitment that you are both putting in.
You want to be able to track where your own referrals are coming from, and where the people you are referring to others are ending up.
And for your efforts, there should be a reward. That’s your commission fee.
You can determine with your partner what that should be for any given product or program. Money is a great incentive to get people to help you spread the word.
But throughout you want to make sure you remain in integrity.
Respect your own audience, whether it’s your email list or your social media contacts.
When done right, JV partners can really help increase your audience quickly, and help you find more of those fantastic clients faster!
So I know what you’re wondering now … how do you get started?
Well the best way to get a referral is to give one first! So reach out to people that you want to partner with and start to build a relationship with them, so you can be joint venture partners!