Why JV Partnership and Affiliate marketing is Not for the Newbie
Do you think you’re ready to invite people to Joint Venture with you or become a trusted affiliate partner?
Part of my revenue strategy comes from internal and external joint venture opportunities. I would not have been ready to do this 5 years ago when I was a newbie.
Periodically people reach out to me asking me to partner with them or become an affiliate for their products and services.
I examine each opportunity from the 3 keys to create success in business: Mindset. Strategy. Action.
- Mindset is your system of constant success oriented thoughts
- Strategy is your system of planning based on what you know
- Action is your system of implementation based on what you’ve planned
I determine if the person asking me to join them has these 3 keys in place in a way that’s a good fit with my company’s mission and service offerings.
When I was a new emerging entrepreneur I would have been unsuccessful with JV partnering. I was only vaguely aware of the 3 keys. Truthfully, sometimes I wasn’t even interested in them. Although I did want to serve people and make money, like most newbies, I was impatient and reluctant to adapt a systematic structure to achieve results.
JV partnering and affiliate marketing is one of the best ways to generate passive income but it can also undermine your brand if you don’t approach it from the right perspective. Once you build credibility and brand equity in the marketplace you must protect it, unapologetically.
I recently launched an affiliate partner opportunity for the next semester of Revenue Rock Star business coaching. My 6 month group coaching program that teaches emerging and seasoned entrepreneurs how to build the right infrastructure, branding, marking, sales and revenue strategy and speaker training to create a successful and sustainable business.
When I extended the offer to some of my community I actually made a big mistake. I assumed that the people I invited already knew everything there is to know about JV and affiliate marketing. However, it turned out that some folks didn’t know or understand how JV and affiliate marketing partnerships work. I also realized that for those people who didn’t know how it worked, right then might not be the best time to invite them to join the affiliate team. Why not have them join anyway? Because, if the team members don’t already have the understanding of the strategy and actions that will be involved they may not be able to sustain the mindset that the process requires. The time to help them understand is not during the unfolding of your launch.
That was a tough call for me. I even got frustrated at one point, but that helped me to reflect back to the time when I didn’t know about JV and affiliate partnerships and I experienced humility and compassion.
If you’re a newbie and you want to integrate JV and affiliate partnerships into your revenue strategy I recommend you wait until you have the following in place:
1. You’ve built a credible brand in the marketplace for at least 12 months.
2. You have the automated marketing and social medial systems in place to support a launch.
3. You’ve built a responsive list/database that you consistently market to
4. You understand which businesses and offerings would be a natural best fit for you and likewise, you for them
5. You’re willing to be transparent about what you know and don’t know and do so from a place of humility and eagerness to learn and grow
Once you’ve added these critical steps into your business, you’ll be ready to reap the benefits of passive income and increased impact in the world!
Are you using JV and affiliate marketing as part of your revenue strategy? Would you like to learn how to launch with a team and so yo can all serve at a higher impact than you could alone?