One of the best ways I know of to lure new leads and customers is with Joint Ventures (JV). Partnering with other businesses that have the same customers you would like as customers creates another source of profit for your business.
In the business industry you can refer your clients to an accountant, and the accountant can refer his clients to you. Or an attorney can do the same with you.
The thing that makes this system work is to make sure that you let a prospective JV partner know from the start that:
- The additional profit center will not detract in any way from their current income stream.
- The additional profit center will not incur any risk whatsoever on their park.
- You will perform all of the work.
- They can stop at any time for any reason.
There are many potential JVs that it is impossible to cover every conceivable one here. Instead I’ll give you some examples.
- JV with your suppliers. Your suppliers want you to be more successful, since it means more sales for them. They may fund mailings, etc.
- Look for businesses that have the same customers as you have and want.
- JV a mini seminar or teleseminar. Using the lawyer/accountant example I gave you earlier, the two could get together and hold a seminar for new business owners, offering a package deal for both of their services.
- Endorsements. Most businesses have a great personal relationship with their customers and prospects. You create a letter that each of you send out endorsing each other to each other’s clients/customers.
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