- What is the desired impact on my business from doing this JV?
- What is the desired outcome I want for the JV partner/s?
- How will I connect with them during the JV for maximum ease, fun and profit?
- Who do I need to be and what to I need to do to have this JV experience be showcased for the highest good of all?
Intentional Joint Ventures
I've been doing joint ventures (JV's) for well over a decade. Three years ago I had a major aha moment that changed the future of every JV I do. "A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and, of course, profits." - Valerie Orsoni-Vauthey, 'Happy About Joint Venturing' There are many creative ways to partner with other people and businesses to boost your list size, increase sales, bring forth new products and sales, and add value to what your business already offers. I've always found JV's to be fun and if they put some extra cash in my pocket, all the better. But everything changed when a few years back my dear friends (and mastermind partners), Eva Gregory and Mary Allen, told me all about a live retreat I needed to attend to better leverage my JV partnerships. Plus, I knew I was limiting myself doing things the same ole' way. Part of my marketing strategy that year was to tap into new markets by connecting with rock stars in my industry who offer services and products that I can fully get behind. The JV Networking Summit, hosted by Christian Mickelsen, was the perfect fit for me. In fact, that was where I first met Milana Leshinsky, the rock star co-founder of JV Insider Circle! While at the summit, it hit me. I had just been 'squeezing in' promotions, supporting people I liked and doing projects with people who had great insights. I also sent out copy for my affiliates every month letting them know which projects of mine they could support. While there was nothing wrong with any of these actions, I realized I had not been intentional ... at all. Gasp! Can you believe it?! I couldn't. Here I am spending my time, money and energy, along with my team, to support other people and not really producing any results. I was just doing the minimum amount of effort to do what needed to be done. Heck, I give more thought to pruning my roses every month than I had to all my JV's. Don't get me wrong, it wasn't for lack of enthusiasm. I really do love every person I partner with... but I never sat down and asked myself the most important questions: