| At today's mastermind meeting, Joe, Bill, Craig and I | | | | gurus. Find the one who is passionate about coffee |
| got into a long discussion about Joint Venture | | | | and concentrate on him. |
| proposals. This is a subject that my coaching clients | | | | Or find the one who has a sweet tooth for oreos, |
| are struggling with at Your Portable Empire University, | | | | and send him a case. |
| and really, most beginning marketers struggle with. | | | | (disclaimer: this is word of mouth. Hearsay. I have no |
| It really hit home to me how lucky I was to be | | | | evidence of anyone ever receiving or responding to a |
| sitting at that table. | | | | bribe. If I did, it was years ago and the statute of |
| Joe Vitale is one of the fathers of the internet | | | | limitations has run on it. If it ever happened. In the |
| marketing business, and just keeps growing from | | | | case of the case of oreos, the evidence is long |
| amazing success to amazing success. His goal is to be | | | | gone- his son ate 'em.) |
| the world's first trillionaire. I wouldn't bet against him. | | | | A bribe will not guarantee that the guru will promote |
| Craig Perrine is one of the up-and-coming gurus. The | | | | your product. |
| gurus all know him, and respect him. He's one | | | | However, some of these guys get dozens of offers |
| promotion away from being a guru himself. He's also | | | | a day. It's a full time job just reading the emails. |
| got a dangerously skewed sense of humor. | | | | If you send your proposal FEDEX, with a memorable |
| Bill Hibbler is one of my oldest friends. He's the one | | | | bribe (remember, you've researched them to find out |
| that got me into internet marketing, and introduced | | | | what they like), you greatly increase the chances of |
| me to Joe. He's quietly built up a very impressive | | | | your proposal actually getting read. |
| internet empire. He also used to manage rock stars- | | | | It's still up to you to create a great product, and |
| so we share the music biz connection. | | | | offer it to marketers who actually have access to |
| To get these guys together for a consultation would | | | | the people who will buy it. Be sure to stress the |
| cost thousands of dollars an hour. | | | | benefits to the list-owner and his list. This is not the |
| Let me share the wealth with you, by letting you | | | | place to give your life history, or beg for help. |
| listen in to a conversation we had about joint | | | | Desperation does not sell. |
| ventures. | | | | A quick and easy way to build a relationship, and |
| There is a temptation for new internet marketers to | | | | create a product, is to interview or co-write with |
| use the "shotgun" approach when they try to set up | | | | your potential JV partner. The less work they actually |
| Joint Venture deals. In the shotgun approach, you | | | | have to do, the more likely they are to agree to |
| send a form letter to everybody you can think of, | | | | your proposal. |
| asking them to promote your product. | | | | Why would you do this? |
| We were unanimous on this. The shotgun approach | | | | 1. When people see your name associated with a |
| NEVER WORKS. | | | | guru's name, there is a perception that you are |
| There. That's all you need to know about the | | | | worth listening to. |
| shotgun approach. Don't waste your time | | | | 2. It gets the guru emotionally involved in the project, |
| Bill reminded me of a time, 8-10 years ago, when I | | | | and he'll do what it takes to make it successful. |
| tried the shotgun approach in the music business. I | | | | 3. The first one is the hardest. Once you've |
| put together a promo kit, with pictures, press | | | | successfully worked with one guru, it's much easier |
| clippings, and my latest CD and mailed it to record | | | | to connect with, and work with, others. |
| companies. Wasted several hundred dollars. I got no | | | | 4. You get to "cream" the guru's list. You can build |
| response. | | | | your own list by capturing the names of people who |
| Later, I got a record deal, publishing deal, and a | | | | show interest in the product you create with the |
| couple of great agents- but I didn't get them by | | | | guru. |
| using the shotgun approach. | | | | This led to a discussion of other problems beginning |
| Well, what does work? | | | | internet marketers have. |
| We all agreed that building a relationship was | | | | Craig said it best, "If you are currently broke, you |
| important. | | | | have no business creating or marketing success |
| So, I asked Joe, Bill, and Craig to imagine they were | | | | products." |
| sitting in... Cleveland, Texas, or some other backwater | | | | The funniest JV proposal any of us have ever |
| spot, and they wanted to establish a relationship with | | | | received said, "I've got a great marketing course, I |
| a potential JV partner. What would they do? | | | | just don't know how to market it." It's actually |
| I want to make it very clear that the first step is to | | | | become famous in guru circles as the ultimate bad |
| identify who you want to establish the relationship | | | | example. |
| with. You need to focus on each potential JV partner | | | | Bill followed up, "The internet marketing niche is full. |
| one-at-a-time. | | | | Not only is there no room for anyone else to market |
| Here are the steps they would take: | | | | products in that niche, if you do compete in that |
| 1. get on their list. | | | | niche you're competing against the best marketers |
| 2. subscribe to all of their newsletters and read them. | | | | on the planet. You don't stand a chance." |
| You want to know what their niche is, what their | | | | I can tell this to my coaching clients until I'm blue in |
| interests are, and- this is very important- what they | | | | the face, and they'll still try it. I don't understand. |
| like. More on this in a minute. | | | | Your chance of success is higher in just about any |
| 3. send them an occasional email telling them that you | | | | other niche. |
| like their ezine, and telling them exactly what you | | | | The trick is to discover what you're actually good at, |
| liked. quote the ezine or newsletter. | | | | and sell that. |
| 4. once they've responded to an email, and | | | | What are your skills? Be honest about where you are |
| acknowledge you, offer them a free article or ebook | | | | now. |
| to use as a bonus for their promotion. It's important | | | | Craig, again: "Do you like being lied to? If you're |
| that your bonus has some relation to their promotion. | | | | marketing success products, and you're not |
| 5. politely ask if they'd be interested in promoting | | | | successful- you're lying." |
| your product. Do NOT send attachments. Do NOT | | | | Craig had the solution- "There are two kinds of |
| send a long email with your biography. Do send a | | | | people in internet marketing: marketers and product |
| polite request stressing what's in it for them. | | | | developers. You're probably a product developer. Find |
| 6. repeat step five politely but persistently. | | | | what you're good at, and make a product out of |
| I've seen this work with Joe, and I believe that it will | | | | that." |
| work with most gurus IF... and this is a big IF... the | | | | This led to a discussion about product development. |
| product you want to promote is actually a great | | | | It's easy. |
| product and it is the sort of thing his customers will | | | | If you like to write, and you write well, it's even |
| actually buy. | | | | easier. |
| For example, Craig's customers are savvy, | | | | If you don't like to write, or don't write well, get an |
| experienced internet marketers who are interested in | | | | audio recorder and record interviews. You can record |
| the nuts and bolts techniques of list building. My | | | | interviews over the phone. You can make camtasia |
| ebook, The Absolute Beginner's Guide to Internet | | | | videos and sell those. A cheap video recorder is good |
| Wealth, would be totally inappropriate for his list. | | | | enough to make professional videos- the bar isn't |
| Joe, on the other hand, has a list of people who will | | | | very high, because you need to compress the videos |
| find that book very useful. He'll be promoting it soon. | | | | so they can be downloaded. |
| Now, look at step two- where it talks about finding | | | | Somebody brought up the story of Joe Kumar, who |
| out what they like. | | | | was a broke student who lived in Singapore. He |
| Now, close the door. Make sure you're alone. I'm | | | | emailed a bunch of gurus and asked them a simple |
| about to tell you a secret... | | | | question about marketing. He knew that getting an |
| You can get a guru's attention by bribing them. | | | | answer to an email was easier than any other form |
| This is a secret. Don't tell anybody. You didn't hear it | | | | of gathering information. |
| from me. | | | | He also figured out that the gurus he interviewed |
| It's true. | | | | would be emotionally involved with the product, and |
| Here are some of the bribes that have worked: | | | | would be motivated to see it succeed. When the |
| - single malt scotch | | | | product was ready to market, his interview subjects |
| - italian leather coat(s) | | | | became his joint-venture partners. |
| - a case of oreos | | | | He made a pile of money. His story after that is kind |
| - vintage books | | | | of sad, but is worth learning about. Do a google |
| - steak dinner | | | | search- |
| - gourmet coffee | | | | This is a great business model. Joe and I used it |
| - official baseball-team cap (worked wonders with a | | | | when we created "The Myth of Passive Income." |
| Japanese record exec.) | | | | We bounced this around- that's the beauty of |
| - twenty-dollar bill | | | | mastermind meetings. The energy just swirls around |
| - maduro churchill cigars (I live in hope.)note- clever | | | | the room. |
| works better than expensive. You can't buy these | | | | One of the ideas that came out of this swirling |
| guys. You can amuse them. If their passion is coffee, | | | | energy- what if an overweight person interviewed a |
| and you send them a pound of blue kona grown on | | | | group of weight-loss experts, and created a product |
| a small coffee plantation, dried and roasted by loving | | | | from the interviews? Then he could write an ezine to |
| hands- they'll think of you as they drink the coffee, | | | | document his/her progress using the advice the |
| and they will read your proposal. The point is that | | | | weight-loss experts gave him. You could sell a lot of |
| you cared enough to learn about them, and learn | | | | these. |
| what they like- and send it to them. Don't go buy a | | | | What kinds of synergy can you create between |
| hundred pounds of coffee and send it to a hundred | | | | Joint Ventures and products? |