We join up and come bearing gifts...

Hey You,

It’s Lewis aka Nerd #2.

Jay Abraham is famous for saying that if you took all of his money and all of his marketing weapons away from him save one, endorsed relationships would be the one he’d choose to put him back on top of the world.

Today you and I are talkin’ Joint Ventures Dan Kennedy style. This is fast, furious, and invaluable advice from the master about how to save yourself a shit-ton of drama and make a boat load of money faster than almost any other business strategy you could deploy.

Here’s some of the notes we have on his Joint Venture and Back End seminar…

  • The key to a parasite relationship like this is to make it drop dead easy for the host to accept you.
  • Don’t make the host do any work, make sure that you’re writing the ads, that you’re writing the sales copy, that you’re creating and designing the insert, that all of the inquiries or responses will come back to you, so that the host isn’t handling any of your business. You’ll also want to make sure that your guarantee is in line with your hosts guarantee.
  • The most powerful form of this is the endorsed mailing. You will get a great response from this, provided that the person who’s endorsing you has a great relationship with their list. Because of the tremendous response that normally occurs from endorsed mailing, just about any deal that you can cut with the person endorsing you is worth it. And remember to make it really easy for them! All they have to do should be to say, “yes.”
  • So you have to convince them that it’s not going to hurt their relationship with their clients or list, that it will be easy for them, that it will make them money and that they don’t have to do anything to make this money. That’s the whole hook of this.

Probably the most important part of any joint venture or partnership agreement is the dissolution clauses…

  • How do you get out if you’re not happy? How do they get out if they’re not happy?As Kennedy says, it’s easier to negotiate a pre-nup then a divorce.
  • If there is a royalty agreement, a lot of times people will get sick of paying you money on a regular basis, so they’ll create a knock off product, or they’ll slightly change your copy, or do any number of things where they’re still using the system you showed them, using what they learned from you that they weren’t doing before, and making a lot of money and try to screw you out of the agreement. So if you have provisions in your agreement at the start that cover this, then you’re in a much better place
  • Make sure you include provisions in your agreement for if they sell the company, if they get locked out, if they bring on another partner. In other words, in case the legal entity that you made a contract with ceases to exist. Number two, spell out exactly what each side is providing in the agreement. Writing copy and writing a contract are very similar -in both you have to be very specific, and in both you have to use language that makes them want to act
  • More often than not problems in joint ventures come up when either you or they overestimate the quality of their relationship with their list. If they don’t have a good relationship with the list, then there’s no point in doing an endorsed mailing. You might as well just get your own list
  • When you’re doing host/parasite deals, usually, the money that you can make it is irrelevant. Much more important is the acquisition of a customer. So don’t worry about the front end profitability. Instead, know that you’re acquiring somebody for your list who will be much more valuable to you then just a single sale. So whenever you do a joint venture or a host parasite, make sure that you have a lot of stuff in your backend pipeline to sell to these new clients coming in