Cross-sell Your Joint Ventures

The reason why it’s smart to have multiple Joint Ventures running concurrently, is that you can avail yourself of the lucrative opportunity to cross sell them. Concomitant strategic alliances make it possible to piggyback logical values to similar demographic models and to bundle products and services with those from other JV partners. When you only have one or two JV’s running, your options are limited, however the more processes you have running in tandem, the more choices you have to create additional value for all concerned.

Imagine if you will, three Joint Ventures between suppliers and consumers, running in parallel:

1. You have linked a computer repair business with a seminar leader/trainer who teaches business owners how to improve their marketing and you get paid on all resulting business that the seminar leader gets.
2. You have set up a referral system between three insurance salespeople and an ad specialty / corporate gifts business and you take a piece of all the ongoing profits from the ad specialty business.
3. You have contingency advertising running that sells printing services and you share the printing profits with the advertiser.

All three of there JV’s deal with the same, basic demographic, or target market, so you can have fun cross selling them. For example, can the people who buy the training in JV #1 also buy corporate gifts and insurance from JV #2? Can all of the people in JV’s #1 and #2 buy printing services offered in JV #3? You see what I mean? You have a lot of options here, with a known market and established relationships. Why go outside your warm market when it’s faster and easier to work with your NEER (Naturally Existing Economic Relationships)?

Don’t think linear – think of your JV’s as you would a PERT Chart. When I was a Work Study Officer (Organization and Methods) I learnt about the power of this power graphic depiction tool that can be used to effectively track concurrent JV’s. Take a look at the information available on PERT diagrams on the Internet. It’s not as complicated as it might at first seem to be, and it will give you perspective and control, no matter how simple or complicated your JV’s are. More importantly, it helps you to maintain your objectivity.

Members of our DollarMakers Joint Venture Forum prosper when they keep their JV’s “in the family”, using the above principles, and saving a lot of time educating people as to why they should pay ongoing, generous commissions. With over 500 Members in nine countries and growing almost daily, the sky’s the limit.

Robin J. Elliott www.DollarMakers.com