Growing your life coaching business with joint ventures can be scary if you haven’t done it before. Scarier is you’ve tried and haven’t succeeded. If you have tested method of creating profitable relationships with others, however, it can be fun. Here are a few steps to get you started.
Growing Your Life Coaching Business With Joint Ventures Is Like Dating
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Before you start contacting potential joint ventures, you need the right mind-set. Although working with joint ventures can be profitable, if it’s your only method of marketing you will be disappointed. Creating relationships takes time. Would you marry someone after the first date? Even if you would, how likely is it that the other person would accept? It would probably make you look so desperate that even if the other party were interested he/she would run away.
3 Steps To Creating a JV Relationship
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1. The introduction. This step is often overlooked. In the old days, you needed an introduction to meet someone properly. If you know someone who can introduce you, you get fast-tracked. If not, don’t despair. You can simply state where you know the person so it is clear you didn’t just buy a name and number from a list. Maybe you are on the person’s list and you are receiving materials via email. Maybe you have taken some of the same courses. Find a commonality before you make the initial contact.
2. The pitch. Your first request is to find out if the other person is open to the possibility creating joint ventures. The more successful the person, the more likely he/she is to be open to leveraging resources. Have some ideas about what value you can offer, but don’t try to go into it now. Set up a 15 minute meeting.
3. The meeting. Assuming you got this far means you are ready to tell them everything your life coaching business can do for them. No, wait just a minute. You want to ask questions to determine a need, and then offer solutions that are specific.
In all of these steps, it is key that you lead with the giving hand. If you are self-promotive you will lose almost every time. Be patient. Growing your life coaching business takes time. The initial investments you make in time during these steps will help you determine if the two of you will benefit from working together.
Hope you took some great value out of this post today! I’d love to hear your feedback, so make sure you leave a comment with your thoughts or questions. And also, you can click on the Twitter button below to retweet this article… Thank you!
Colette Seymann
JTS Advisors Designated Accountability Coach
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