Sometimes, all it takes to achieve success is a little push and a whole lot of desire. Starting with only a beat-up laptop, Sterling Valentine parlayed Napoleon Hill-like joint venture (JV) strategies into a six-figure marketing campaign, and emerged as one of Internet Marketing's 2006 breakout stories.
In his 70-minute interview with fellow rising star Keith Wellman (FX Marketing), Valentine shared some of his expertise in the area of JVs. Four major points were discussed:
1. Joint Venture Basics:
What is a Joint Venture, and why are they so important to your online success?
For Valentine, a joint venture (JV) can be any mutually beneficial relationship where participants take meaningful actions on behalf of the other without thinking. Marriage, friendships, and parent-child relationships are JVs, even though the expectations and characteristics within each relationship are distinct.
In a true JV, each party works hard for the other side, and perhaps counter intuitively, thinks that they are benefiting most from the deal. There is no begging involved. Each joint venture partner must do something of value that the other person needs...
A common misconception in Internet Marketing according to Sterling is that you must know everything and do everything alone to succeed. The reality is that nobody - not even the wealthiest, most experienced "guru" entrepreneur - will achieve anything without help. In fact, all the well-known marketers know that online marketing is a team (not individual) activity. Why do you think that they keep appearing on each other's teleseminars, live events, and sales letters with testimonials?
In a joint venture, partners must agree to create products for the right reasons. At the top of the list, especially for digital products, is using your knowledge to help others succeed:
"Who will succeed if I succeed, who will fail if I fail?"
Unfortunately, many newbies perceive online entrepreneurship as a solo activity. In fact, not seeing anyone in person is a big disadvantage. Critical social skills may erode, and you are less likely to get your "foot in the door" for real business opportunities.
"Net worth is determined by network."-- Mark Victor Hansen
"Success leaves traces."-- Armand Morin
2. The Four Laws:
What are the Four Laws of Joint Ventures, and how can I apply them to my online business right now to increase my earnings?
In a manner similar to Napoleon Hill over 80 years ago, Sterling Valentine interviewed 50 top-level marketers and came up with the laws that govern successful JV projects:
A) Survival: People ultimately behave in their own self-interest, so always ask others about their business and how you can help it grow.
B) Leverage: Working with others divides the effort and multiples the results. Add value and make a meaningful contribution to the JV. It is SMART work, not hard work that will produce a "high-tide' effect, raising all ships, big and small.
C) Reciprocity: The more you give, the more you receive ("Boomerang Effect").
D) Relationships: People do business with people they know, like, and trust. In the beginning, doing little things (e.g. offering testimonials, pointing out spelling errors on web pages) will give you a chance to establish credibility.
3. The Biggest JV Mistakes:
What are some of the biggest mistakes online marketers make when attempting to do JV’s, and how can I prevent them?
There are right ways and wrong ways to proceed with JVs. Quite often, marketers do not approach prospective JV partners in a systematic way. They send out "cookie-cutter" e-mails instead of personalizing their business proposal(s). Newcomers to Internet Marketing mistakenly believe that by approaching a massive number of people, surely one or two will agree to work with them. Sterling Valentine says that this is a poor formula, because the people who reply back may not be of the highest caliber. For those who are successful and experienced marketers, a lack of pre-screening and due diligence can deny a good fit.
A common mistake is the failure to take a relationship-oriented approach to JVs. Instead of looking outwards towards a partner's needs, people feel and act as if it is all about "me". At best, they are too obsessed with making a deal, any deal without thinking through all the pros and cons.
New Internet Marketers often lack confidence in their attempts to garner attention, and as a result undervalue what they have to offer when facing well-established marketers. Valentine is less than 2 years removed from being nowhere, and advises you to pull out all the value from your brain and imagination, and believe in yourself...
Not being part of a legitimate Mastermind group leaves many marketers out of the cutting edge. Consequently the thousands of dollars of value they could be sitting on slip away into the hands of a competitor. Doing it yourself is OK, but to really make it big, you need others to help you prosper.
4. Advanced Secrets:
What do the big name marketers know about doing JV’s that I can use to maximize my success as an internet marketer?
To conclude the call, Sterling and Keith discussed methods used by successful marketers to earn 5 and 6-figure monthly incomes:
- List-building through joint ventures. The use of segregated Priority Notification Lists.
- Developing product creation strategies (e.g. Attending live seminars).
- Starting local Internet Marketing "brainstorming" groups. Face-to-face meetings that lead to co-promotion activities.
Sterling left listeners with a favorite "power phrase" that is sure to get the attention of joint venture candidates:
How can this project of mine help you achieve your goals?
Even though earning serious online income requires a little patience, your reward for toughing it out is a geography-independent business lifestyle that can be operated from anywhere - with anyone. Sterling Valentine is a rising star, and is prepared to share his ideas with people ready for positive change in their lives.
The joint Keith Wellman-Sterling Valentine JV Formula offer is exclusive to Keith's subscribers. For more information, please visit http://www.keithwellman.com.
The original JVFormula is sold out, but you may view its sales letter here.
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