I've been spending a lot of time applying personality masteries to improve and positively impact more people around me and grow my business. One of the goals of this activity is to improve the way in which I am able to put together joint ventures and build lucrative joint venture strategies in B2B environment. The more important goal however is to positively impact those individuals I touch by helping them more effectively grow their businesses and build stronger relationships with those around them.
As a scientist by training, it has become a very interesting journey to watch and participate in the unfolding of joint ventures, how they are started and the strategies that lead to success. It all starts with the 3 Steps to Anything Principle, Examination, Solution(s) and Implementation. The first step of this principle, Examination, is the most important, since it helps you first and foremost understand who you are working with, their motivations, concerns and insights.
This is the basis of understanding how to work with customers, prospects, clients, friends and famly. It starts with an examination by asking the four simple questions listed below.
1. What are the two biggest challenges that you are currently facing in any area of your life?
2. If someone could help you do two things, what would you looove help on?
3. Which of the following four shapes would tend to be your favorite? A Cube, Pyramid, Wavyline or a Ball
4. Which of the following four things would tend to cause you the most frustration or pain?
a. Things being done improperly or out of order? b. Things being out of control? c. Things being out of control? or d. Conflict with others?
How will this insight into personalities help you develop and grow your business? Listen to these two audios about a new product line that a group that we are putting together.
Maybe you'd like to join the master mind group or maybe not, but what is for sure this type of knowledge will change your life!
So go ahead and click on the links below.
Personality Masteries Introduction
Personality Masteries Testimonials
Let me know your thoughts or just join our group calls on Tuesday (11:00am EST) and Fridays (12:00pm EST). TEL: 218-862-7200 PIN: 473678
WE CAN ACCOMPLISH SO MUCH MORE TOGETHER THAN WE CAN INDIVIDUALLY!!
Affiliate marketing is one way a blog can be used to generate revenue and gain customers. It is also one key component for product owners to recognise as part of a good internet joint venture strategy. The amount of revenue generated by a blog featuring affiliate marketing links will vary significantly, primarily because of the level of inbound traffic to the blog. However, the blog does provide a simple way to communicate and inform potential JV partners and customers of your offering, your interests, your expertise and so on.
If for example, we review technorati statistics on blogs, it becomes quickly recognizable, that in almost every business category where a web presence is sought, blogging is not optional to be competitive. Getting joint venture partners to support your product is as much a matter of understanding how to use blog content as an information conduit to educate, as it is about having a solid product and necessary customer support tools to back it up.
In a recent webinar, by Mark Boersma and Joyce Jackson of Joint Venture Association, the point was made that there are five key elements to any business.
- Pre-sale
- Marketing
- Sale
- Customer Servicing and
- Gain a customer for life
This regardless of the business type or structure and nn each element a communication platform provides the mechanism through which the business will grow. Even more significant, however is the fact that a weakness in any one area will limit the maximum earning potential of the business.
Your website blog actually represents one of the tools you can use in your pre-sale strategy.
Why is a Blog Important in Joint Venture Strategy?
Your website blog actually represents one of the tools you can use in developing the pre-sale strategy.
For the JV product owner one avenue though which presale to potential JV partners can occur is through blog communication. This also provides potential JV partners with a means of evaluating your products viability, appeal and gaging market size, by watching website traffic.
Outside of face to face meetings, the blog in combination with other social media tools, provides a most effective way to start building dialogue between you, your clients, customers, partners and peers.
Affiliate Marketing 101
Essentially affiliate marketing allows a website or blog owner to create links on a web page that goes to another company's sales page. The company compensates the blog owner or website owner according to a previously established commission structure. Payment made either each time a unique website visitor clicks through the advertisement or each time a blog visitor performs a desired action such as making a purchase or registering with the website.
Properly structuring your affiliate program is there for critical for your joint venture partners and through your blog you can actually showcase the effectiveness of your affiliate marketing strategy. Joint venture expert and internet marketing guru Willie Crawford (picture below) for example uses blogging to connect with his customers, joint venture clients and joint venture partners on a daily basis. It is a pivotal piece of his internet marketing operation.
Knowing how to develop your affiliate marketing program and incorporating, blogging as a pre-sale tool is a core function of doing business today. Understand how to maximize your marketability by combine these tools in the first phase of your associated with these affiliate marketing opportunities.
One of the more significant changes that will influence Joint ventures in the construction industry is LEED certification. LEED (Leadership in Energy and Environmental Design), is the vehicle through which construction projects that incorporate green technology, building principles and environmental sustainability strategies, are credited for their efforts. How important is it in construction projects today? Well let's just say that the benefits far out weigh the negatives!
Overview of the LEED Certification Process
USGBC-United States Green Building Council, GBCI-Green Building Certification Institute; LEED- Leadership in Energy and Environmental Design; CB- Certifying Body
A Little History
The LEED rating system involves three main processes with precise terminology associated with each. These are
1. Accreditation- This is the exam process through which individuals wishing to become experts on the LEED rating system must pass.
2. Registration- This involves the process of informing USGBC and GBCI that a project plans on pursuing LEED certification.
3. Certification- Confirmation that a building has achieved the necessary LEED points to be considered a "Green Building"
Successfully achieving each of these levels in the rating system will result in a B2B joint venture strategy that will positively influence environmental sustainability and profitability.
"Sustainability means meeting the needs of the present without compromising the ability of future generations to meet their own needs"
Sustainable design is the underlying principle on which the LEED rating system rests and, contrary to belief, can provide significant cost savings over the life of the project and beyond.
SOME FACTS
In a recent seminar conducted by Danny Walsh, Business Developmet & LEED® Consultant at LEED Teacher LLC, he presented the following facts about the benefits of Sustainable Design.
- Humans are indoors 90% of the time
- Indoor pollutants can be 100 times that of the out doors
- Productivity can increase up to 16% with enhanced indoor environment quality
- First-costs are balanced by new savings
- A survey of 146 green buildings showed only a 2% cost increase
- Green buildings rent for an average of 6% more
Based on a recent General Services Administration (GSA) survey of green buildings, the following main points were highlighted
- 13% less Maintainance costs (lower energy use per square foot)
- 26% less energy use
- 27% higher levels of occupant satisfaction
- 33% lower carbon dioxide emissions
The question is what advantages will LEED certification really provide in developing a Joint Venture strategy in the any construction project? Stay tuned to find out more!
And the Purpose of Your Website is to do What???
Websites are designed to achieve wide and varied goals,
based on the niche, the content, the type of audience etc. Understanding how to
bring traffic to a web site, for what ever reason is therefore the key behind
successful websites, the down fall of others and central to your joint venture strategy. For simplicity however, we can
reduce the key goals of a website to three basic activities.
1) To provide a continuous flow of quality information to
visitors.
2) To gain information about your customer or visitor, i.e.
e-mail and physical addresses, telephone numbers, product tastes and
preferences etc
3) To facilitate a commercial transaction for goods and
services i.e. digital products (software, electronic books, audio books, music,
etc), physical products (cars, appliances, clothing etc), membership sites and
so on.
The problem is that, with a new product or service in hand
ready for marketing online, you probably don't have any traffic coming to your
site, unless you have many of the internet marketing tools already inplace. This creates the perfect opportunity for you to begin looking for a Joint Venture
partnership, but there are a few things you need to know about what your partners are looking for. In other words, they are asking themselves - What is this person's Joint Venture Strategy, can I make money with this partnership or am I better off giving this one a miss???
THE INTERNET JOINT VENTURE
The purpose of an internet joint venture (JV for short) is
to harness or leverage traffic coming to a website with products that visitors
to that site would be willing to take 1 of the 3 above action.
From a theoretical point of view, the joint venture is based on what has been
described as the so called "1 (JV Client) to 1 (JV partner) to X (target
audience) model". In which one client with a single product or group of
products, partners with a large list holder or JV partner, to gain access to a
specific customer base that can range from thousands to millions!
Central to your joint venture strategy is making sure that the tools that you need to be in place to attract web traffic through organic (web searches through google etc) and paid search (PPC, CPA, CPC ect) traffic are actually in place. So you want to make sure that, you have at least these five pieces of the puzzle in place. These are listed below.
FIVE KEYS TO A SUCCESSFUL JOINT VENTURE STRATEGY
1. Search Engine Optimized blog and blog content,
2. If you don't like to blog maybe a few audios or videos,
3. Good sales copy, (which you should have tested)
4. Cool joint venture partner tools (drafts of email sequence for mailing, twitter messages, banners with good graphics, list of high traffic key words, sales tracking software etc) and
5. Off course a stellar product and customer support to back it up!
Joint Venture partners measure every possible piece of data relevant to making internet marketing sales. Making sure that you understand this process along with the five keys mentioned above, will go a long way in helping you generate the type of revenues you are looking for.
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Check out this video on Mind Mapping by Stephen Pierce. Really cool technique for developing information products.
In the beginning, there was the world wide web and the web needed
traffic. So on the umteenth day, the web guru created Google and all
was right with the world. Or was it??
SOME BACKGROUD
To
many, the internet is a venue to connect with people, conduct business or to
just hang out! In each case, however a joint venture strategy comes into play.
Unlike off-line businesses,
the challenges of growing an online business, rests squarely in two areas.
First, understanding how to attract traffic to a website and second to
establish online credibility. The former tends to be a more critical issue for most so lets see how joint venture strategy comes into play here.
A POWERFUL EXAMPLE
The success of Google as a search engine, for
example, rests on that company's ability to continuously out compete and out
perform new and older search engine, by continuously attracting a
steady flow of traffic. In how many movies, TV shows, advertisements ect have you heard someone say .."Just Google it..." ? In an instant practically everyone knows exactly what your talking about.
Alexa.com reports that over the 3 month period, from June to August 2009, global internet users visited Google.com 33.191% (traffic rank - 1) ,Yahoo.com 25.946% (traffic rank 2) and MSN.com 12.476% (traffic rank - 6) of the time. To put this data into some perspective www.internetworldstats.com reports
that there are 1,668,870,408 internet users world wide and ~33% of all the traffic from those internt users are going to googles website. TALK ABOUT TRAFFIC!!!
SO WHAT DOES THAT MEAN FOR YOU?
Well that's all well and good, if you're Google, Yahoo or MSN, but for an individual with a website and a product to market through that
website, the likelihood of receiving even 0.000001% of that traffic is a major
undertaking. Achieving that goal would require really good search engine
optimization strategies, building inbound marketing systems, such as social networks (i.e twitter, facebook,
myspace etc), running ad campaigns (CPA or PPC), and e-mail campaigns to name a few. Again
to put this into perspective, according to alexa.com the website
luxurylaunches.com, with a traffic rank of 58,128, sees just over 0.00273% of all
global web traffic!
So what do you do now? Maybe this the time right to look at a Joint Venture Strategy to get your website noticed and your products sold. Check out Part 2 of this article coming soon....
So what’s your Body Mass Index or BMI for short ? Is it above 30? If it is you’ve officially jointed the ranks of 30% of Americans who are considered obese. The question now is what can or should you do about it?
In the past 12 months there has been a plethora of new information products being launched, through every possible medium, all aimed at helping American’s tackle the obesity problem. In addition, the number of joint venture partnerships in the weight loss niche has grown, attracting well known and highly successful internet marketers and joint venture experts, across all niches. The fact is that the flurry of activity in the weight loss niche is as much a matter of economics, as it is a matter of necessity. The simple reason? The incredibly broad reach of the problem!
Bottom line, the more people who become obese, the greater the negative impact on the economy and Lord knows we’ve had enough heavy doses of “negative economics” over the past few years. The sensitivity of this issue is at such a high level that it now forms a major component of the White House’s Healthcare reform strategy, with organizations such as Angel’s for Obesity, a not-for-profit joint venture led by Tim Liebmann, Janet Bruno, Mark Boersma and Joyce Jackson, playing their part to get the message out. One of the organization's goal is “..to impact 10 million lives worldwide and collectively lose 250 million pounds.”
“On average, health bills for a normal-weight person are about
$3,400 a year, but that rises to $4,870 for someone who's obese,
Finkelstein said. Prescription drugs are the biggest driver of those
costs: Medicare spends about $600 more per year on medications
for an obese beneficiary than a normal-weight one.”
The biggest problem with obesity is that it is practically impossible to treat. The only real way for it to be addressed is through prevention, with many health experts arguing that a tax on junk food, a so called “Pigouvian” tax would go along way in controlling obesity. This latter argument has found support coming from the Urban Institute in Washington DC. The think tank has “proposed a 10% tax on fattening food of little nutritional value, that, it claimed, would raise $500 billion over ten years.”
Without embracing a prevention strategy, with weight control as the fulcrum, the fundamental weakness in the current health care debate, that plans to increase spending on the prevention of chronic disease, will continue the downward healthcare cost spiral.
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If you want to learn more about Angel's for Obesity, join the weekly tele-meeting, on Thursday's 8pm (Eastern), 7pm (Central), 6pm (Mountain) and 5pm (Pacific).
TEL: 1-218-862-7200; PIN: 4736678; Webinar: www.XRAYinsight.com
What are the current challenges facing the nation? Too numerous to mention? Are there areas that we can look to for growth and increased productivity? What about new types of jobs, say in the biotech arena?
There is no doubt that opportunities in the biotechnology space for a new cadre of knowledge workers are real. Joint ventures between public and private sector organizations have led to programs with an eye towards increasing the biotechnology workforce. These programs are being spearheaded by the National Institutes of Health through the National Centre for Research Resources (NCRR) and with extensive collaboration and involvement of many private sector companies.
Joint Venture in science education Under the NCRR's Strategic Plan 2009-2013, building the Research Workforce is a key strategic initiative to increase capacity in the Life sciences. In this area five core strategies have been indicated as critical "to address a shortfall of well-trained scientists to support a broad range of research". These five strategies are as follows;
Strategy 1: Ensure a multidisciplinary clinical research workforce.
Strategy 2: Promote the recruitment, training, advancement and retention of new investigators in clinical and translational research careers
Strategy 3: Expand opportunities to train biomedical researchers in advanced technologies
Strategy 4: Increase the numbers of qualified research veterinarians and ensure that veterinarians are recognized partners on translational research teams.
Strategy 5:Encourage students to pursue biomedical research careers and educate the public about healthy living.
New Life Science Legislation in Massachusetts (June 2008) also have facilitated a 10-year, $1billion investment in the industry, to enable expansion of the biotech workforce throughout New England. Formulation of this legislation was the result of extensive consultation, collaboration and dialogue between all stake holders, public and private.
"The life sciences cluster has grown in Massachusetts for many reasons, none more important than the access to a highly talented workforce," asserted Robert K. Coughlin, President and CEO of the Massachusetts Biotechnology Council. "In order to continue to enjoy strong growth in Massachusetts, the industry's pipeline of workers - from skilled technicians, engineers, and scientists, to the many professional positions that support the industry - must continue to grow, and we will all work together to ensure that we are educating and preparing our future workforce for this vital industry."
The first step, to provide the legislative framework and programs to increase a new cadre of biomedical workers is in place. It is now a matter of stepping through the door to realize the benefits. This however, will require more innovative and creative joint venture partnerships to be formed as this workforce development strategy takes hold.
TRADITIONAL JOINT VENTURES
The term Joint Venture (JV) in its strictest sense can be broadly described as the formation of an entity between two or more parties to undertake clearly defined economic activity (A more comprehensive definition of a Joint Venture can be found at Cornell University's Legal Information Institute).
There are three key elements that characterize this process.
1. The parties agree to create a new business entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. In this sense, there could be two or more parties involved in this deal, which could include a product owner, a marketing or sales expert and a financier (i.e. bank, venture capitalist, angel investors etc.).
2. The JV is focused on leveraging the expertise and assets of the individuals or entities for a specified monetary outcome over a specified period of time. This is a very important point to consider, since putting the Joint Venture together requires the proper matching of individuals, products, entities etc. The structure of this arrangement can be very complex, as in the case with, various typs of Financial, Pharmaceutical, biotechnology or other highly scientific and technical industries.
3. There is always someone or some entity involved in bring the parties to the table. These individuals are usually called Joint Venture Brokers and can be considered to be the glue that holds the deal together as the deal is structured and executed. A core strength of these individuals by necessity, is a good handle on the management of diverse and complex personalities, processes and technologies.
Joint ventures based on these parameters are rigid and have built in, very clearly defined legal obligations requirements for each party to the agreement. Several examples of joint ventures can be viewed by doing a quick search of the Wall Street Journal or any other major source of financial news and information. Simply put, JVs are the mechanisms by which business is developed between entities, which cn be represented as highlighted in the diagram below.
INTERNET JOINT VENTURES
In internet marketing, joint ventures are formed between product owners and joint venture partners (super affilates), who because of their extensive online presence as internet marketers, content providers or technology suppliers, command the attention of very large lists of potential customers. This list could range from as few as 1000 individuals to many millions, as is the case with organizations such as Amazon, Google, WebMD etc.
For new or existing small internet based businesses, gaining access to online customers through JV partnerships is an invaluable way of building presence and gaining product credibility.
The objective of forming the joint venture, is again to gain some economic advantage etc, but the execution is somewhat different and can be defined by three simple parameters.
1. In this scenario the joint venture can be considered more of a cross promotion, in which the list holder promotes the product or service to a defined customer base for a pre-negotiated percentage or commission of the sale.
2. The expense and risks involved are minimal on the part of the product owner, but can be quite substancial on the part of the JV partner, depending on their level of exposure and the percieved value to the customer.
3. The legal responsibilities between the parties far less onerou on either parties end since typically the derived benefits can be almost instantaneous.
4. Typically no new entity is formed and the deal is usually concluded once the product is launched.
As is the case with the traditional JV, establishing clear mechanisms for reciept of compensation, is at a premium. There are several internet companies that provide this tracebility for the sale of information products. Well known service providers in this area are Clickbank.com, Paydotcom.com and these can be complimented with more comprehensive tracking software support from companies such as EasyClickMate.com and InfusionSoft.com.
Understanding the differences between the levels of complexity between joint venture strategies is a necessary step in building your market plan. In both cases discussed above, knowing when is the best time to initate a JV and with whom, can save time, money and unnecessary aggravation with joint venture brokers playing a central role in this process.
Successful joint ventures require patience, discipline, focus, a willingness to interact and build relationships and a willingness to step outside your comfort zone. In any business building credibility, plays a major role in the level of success you can achieve, but what if you are new to an industry? How can you build credibility that will help you to grow your business faster? And if your business is based online, how would the search engines view credibility?
Online there are really two ways to look at leveraging credibility to build your business. The first is based on personal relationship building and the second on an understanding of what search engines are looking when building inbound links to your website.
Business is about relationships, whether between you and your customer, you and your partners or investors, or you and your employees etc. Each of these interactions, either builds or diminishes your credibility in the eyes of the observer and it is through the skillful management of each that your business success will grow. But how do we go about leveraging others’ credibility to grow your business? What can you do?
The most direct route is by having people who are very well known and who have established a track record of success, high performance and credibility in their own right, assist you in establishing and building your business. This can be achieved by simply taking pictures with them if you possible, by conducting interviews with them, through testimonials, endorsements, joint press releases, conducting teleseminars, through video testimonials etc.
From the technical end, receiving “back links” to your blog or website from respected authorities in the field also is a strategy that can be used. But this can be a double edged sword, requiring the delivery of solid content that authority leaders and figures can point to and recommend to their peers.
The key is to have these credible individuals, see your value and promote your business services and skills to their customers, members, friends and colleagues. For more insights on building online credibility, download the e-book “20 Ways To Build Your Online Credibility”
The age old saying that “No man is an island” is really about understanding that it is through leveraging collective strengths that individuals succeed. In practically every discipline that I know of, mentorship plays a major role in individual success. This statement actually also holds true throughout the animal kingdom.
“Online, people don’t trust you and the most important element that you can have in your marketing is proof: proof of what you say, proof of who you are and proof that your product can actually help your prospects and your website visitors to solve a problem” Stephen Pierce.
This in no way a new statement, in fact it has been said by many successful internet marketers across the globe. It does however reinforce what the psychology of an online customer or website visitor is from the get go and what you have to do to prove your worth. How they view you and perceive the value you are delivering to them is about putting in place strategies to leverage credibility, either yours, your peers or your past customers!
Building this proof early in your online business endeavor is about forming the right relationships, with the right people at the right time. Leveraging credibility is an invaluable asset to growing your Business Faster. Having a clear plan for both choosing mentors and authority sites to refer to, must therefore be a key ingredient in your online business strategy.
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Joint venture, jv broker