Joint Venture Brokers develop multiple streams of passive / residual income from a variety of sources. They continue to create more sources of income and that is very important, however it is equally important to increase the amount of income from existing sources in order to turn those streams into raging torrents of money.
This takes a bit of brainstorming, Masterminding and creative thought. By meeting with other JV brokers, Members of the DollarMakers Joint Venture Forum and your existing JV partners, you can explore multiple, exciting options and ideas. How else can you add value to buyers and make their lives easier?
The most effective way to increase your income from a JV is to meet with each of your JV Partners who write you the checks every month and examine the following:
1. What new developments, new products, new innovations, added value and additional information are now available that wasn’t available before?
2. What new marketing and sales material, including CD’s, DVD’s, reports, websites, ezines, tracking mechanisms, TeleClasses, Seminars, flyers, brochures, samples, etc., are now available for you to use?
3. What opportunities now exist for you to upsell and bundle products and services?
4. What new premiums, incentives, coupons and bonuses are now available?
5. What new ideas, innovations, markets, demographics, territories, products and services are now available?
Then implement as many of these new options as possible.
Next, search for new back-end options and cross selling opportunities between your existing JV’s.
1. What other JV products and services can you link, upsell, bundle, and cross sell? For example, if you have instituted a JV that sells products into retail outlets, what other products and services from other JV partners can you introduce into that flow?
2. Could you add gift certificates to promote additional sales through other JV’s? Where are the naturally occurring synergies?
3. What additional back-ends can you add to all your existing JV products and services?
The more options and the more value you add, the more income you create from your JV’s. By constantly managing, improving and tweaking your JV’s, you increase your residual income.
Robin J. Elliott
www.DollarMakers.com
