锘? Have you noticed that you keep hearing about setting up joint ventures and strategic alliances? But what does this really mean and how could you profit from it?
In this article I'm going to do my best to shed some light on the topic so that you too can get on the band wagon and grow your business.
, let's set the stage.
Whatever business you're in (and this applies whether you own the business or are an employee responsible for bringing in more business) you need sales.
Sales are the lifeblood of any business and as the saying goes, "Sales cures all ills". Well, maybe not quite (you do have to deliver) but you get the idea.
But how do you find prospects in the first place? You hate cold calling, and it's often fruitless.
Getting in front of the right prospects (those who have a need and are in a position to spend money) can be a challenge.
You spend copious quantities on advertising and direct mail, but get somewhat mediocre results and wonder if you're not just burning money.
People buy from people they know, like and trust.
For a prospect to get to know, like and trust you is not an instant process. It takes time! On average it takes over 5 touches or contacts of some kind before someone will feel comfortable enough to buy from you (assuming a want or need exists in the first place).
If all this sounds like a lot of hard work it is!
But there is a better way.
It's called LEVERAGE.
You just need to find someone who knows a lot of the types of people you'd like as your clients. Then you have to convince this person to endorse you to their contacts so that you can sell to them.
Sounds easy doesn't it? Okay http://www.belgievoetbalshirts.be/blank-truitjes.html
, let's look at the reality.
I've put together answers to some common questions
"Why would you want their endorsement?"
Ask yourself if you're more willing to trust someone new if they've come highly recommended by someone you already like and trust? You're far more likely to give them a chance, aren't you?
By getting an endorsement you piggy back on their relationship with their clients gaining trust by proxy.
Why would they endorse you?
The short answer is a feeling that they've helped their clients and of course money.
Firstly, they can now provide an additional service to their clients and look good to them.
Secondly, they can take a share of any profit you make. It's only fair. You would have had to spend marketing dollars getting in front of these people (if you even knew they existed).
If you're the endorser I can hear you saying, "Yeah Rashid, the money sounds good, but how do I know I can trust this guy to deliver? What happens if I put him in front of my clients and he stuffs up?"
This is where you have to spend the time getting to know each other. Do not short circuit this!
The better you get to know each other http://www.belgievoetbalshirts.be/aangepaste-truitjes.html
, the more successfully you will be able to promote each other.
So how do you start the ball rolling?
First you need to identify someone who already has clients on their books that you can target.
You can do this through networking directly, or asking people you know who they know.
Now you need to form a relationship with these people. After all they don't know you from Adam and why should they put you in touch with their clients?
So step number one is for them to get to know you and you get to know them. Go to their offices, production plants etc. Have them come to yours. Eat with them. Yes, eat. Sharing a meal is a great way to break down barriers - that's why the long lunch was so popular.
Once you've both developed a sense for each other and what you're about and you trust each other's ability to deliver, you can take this to the next step which is having this person endorse you to their clients.
I hear you ask the following question.
"I've just met this person at a networking function. We got along, but I don't feel it appropriate to go and ask him to open up his database to me."
This is a common concern and extremely valid. We're all protective of our clients and are certainly not going to let just anyone have access to them. After all we worked hard to get them on board and we don't want someone else coming in and ruining stuff for us. Maybe they'll even take the client from us.
This is exactly why you need to get to know your prospective joint venture partners well. You need to look for areas where you complement each other, not directly compete.
Your joint aim should be to provide a better service to your clients. After all http://www.belgievoetbalshirts.be/
, they're going to be buying this service from someone, so it might as well be from you.
Once you've earned your partner's trust and they're willing to put you in front of some clients, you move to the next stage. Who does the initial marketing, how the sale is made, who gets to handle the money and how it's split.
Like all successful ventures, the devil is in the detail.
Author's Resource Box
Rashid Kotwal is an international speaker and author who specializes in on-line and off-line strategies for direct response marketing and sales optimization. He works with sales organizations want to get more business, faster and with less wasted effort. You can find more information at Sales & Marketing Consulting and Get Clients Online Fast.
Copyright Rashid Kotwal.
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