The World of Joint Ventures

Hello, this is a digital representation of David Attenborough’s voice welcoming you to another episode of the list building lifestyle show hosted by the adept email marketer, Igor Kheifets. Today, we are exploring the world of joint ventures, a fascinating part of email marketing where partnerships and teamwork pay a big role. In this episode, Igor will show us how these partnerships work. Much like how different creatures in nature help each other out. We’ll see how he email marketers team up to promote each other’s products helping both sides grow and succeed. Also get a glimpse into where these partnerships happen. So, join us on this exciting journey with Igor to understand the cooperative spirit of joint ventures right here on the list building lifestyle show.

0:51  

I’m Igor Kheifets. And this is the list building lifestyle. The podcast for anyone who wants to build a wildly profitable email list working from home. If you’d like to make six figures travel the world and help people improve their lives in the process. This podcast is for you. I also invite you to claim a free copy of my best-selling book, the list building lifestyle Confessions of an email millionaire at www.igorsbook.com. Get the free book plus $3,000 bonus package that includes my best capture page templates, email swipe files, and traffic blueprints, visit www.igorsbook.com for details. And now it’s time to claim your list building lifestyle.

1:37  

I want to get into the joint venture world and learn more about that and in the world that you’re living in. Can you explain what JVs are first? 

1:47  

Sure. So, JV stands for joint venture. And there’s also a term JV partner, which is a joint venture partner, it’s someone who you run a joint venture with and a joint venture is really exactly what it sounds like, it’s when two parties come together and bring value of hopefully equal size to each other. And in the sense of affiliate marketing, for example, this could mean that two vendors come together and promote each other’s products to their respective audiences. And therefore, both will make money in two ways. One, they will make money by selling their own stuff to another person’s audience. And the other part, the other way they make money is they’ll make a commission off of the other side of that transaction. So, let’s say, for example, let’s say I have a supplement brand that helps people improve their memory. Okay. And let’s say you have a supplement brand that helps people improve their energy, you know, kind of get more juice, okay, the battery, so we can promote each other. Because typically, you know, somebody who wants to improve memory probably will be open to improving their energy levels to great. And so, you know, I’ll run a promotion to my audience, my peeps, with your affiliate with an affiliate link pointing to your supplement. 

3:22

And you’ll do the same to your audience for my supplement. And by doing so we will split the money for each sale that occurs, but also, we will elevate both of our brands at the same time. Brilliant, brilliant. And what’s a great way to do this, or maybe a most common practice? Is it in, like the checkout cart? Or is this via a webinar where you guys are both educating some folks like what’s the most common JV style of a partnership?

3:42  

I guess it would depend on the type of product because the world where I hang out a lot, which is the info marketing space where people sell coaching, consulting, you know, all kinds of information products, training, coaching, and mentoring. So, membership sites, you’d see a lot of lots and lots and lots of webinars, especially for higher ticket stuff for things that cost more than more than 1000 bucks. When it comes to supplements, for example, I’m pretty sure they wouldn’t be doing webinars, and they will just mail each other’s long form sales pages.

4:16  

So, it could be very simple. And it could be a little bit more complex, just depending on what the products are and how much sales you have to actually put in behind the other person’s or company’s product. Okay, gotcha. Well, great, thanks for dropping that definition. And it’s your world like, what kind of networks are these JVs Typically on? I don’t see them happening a lot on an impact or CJ in most parts, but like, what kind of networks are these happening on?

4:53  

What I would say is that joint ventures are something you come across more often not so much from networks, but in mastermind style environments where people come together to exchange ideas, to brainstorm marketing promotions, to get mentorship and advice. So, if you if you’re a member of like a mastermind of some kind that relates to your business, you might find that, let’s say, as a supplement owner, you might find that being just a member of a mastermind for supplement brand owners, even though there’s no specific, no specific goal for that mastermind to facilitate joint ventures, just by putting everyone in the room with a similar type of business ends up creating joint venture opportunities. Yeah, so it’s almost like a side effect. Without like, not a primary thing, not the primary purpose, but a side effect. Beautiful.

5:51  

Just the power of networking in those networks in those circles is incredible. I’ve, I’m great, you’ve invited me into your world in the past with the JV mixer that you’ve made, which is an incredible value for those in that space. And you make it into a speed dating situation, which I thought was really brilliant. Yeah, it’s really neat.

6:17  

Like, because over the years, as somebody who was always looking for joint venture opportunities, I’ve found myself having to join, you know, $30,000 a year masterminds go to different seminars, and they still do it. But the problem with that is, first off, you actually have to travel somewhere. Second, it’s 30 grand a year, you know, I can afford it. But it’s not like, I’m happy to pay it, you know, I still cringe having to bid. So, I figured at some point, what if I created an environment where we just come in with the purpose of creating joint ventures, and then we just have to, you know, show up once a month virtually, and then we can network with like, a bunch of people really, really fast. Because, you know, even like, the idea of having each and every one of us spend about four to five minutes with each other is going to give us the opportunity to assess whether or not we want to continue the conversation. And then we’re just free to do follow up calls. And, you know, and develop these relationships further.

7:23

Because another thing about joint ventures that they don’t always happen right away, meaning sometimes it takes like a couple of years for a joint venture to actually take place, like you’ll meet somebody at an event or a dinner, and then time will pass and they’ll see your ad on YouTube and more you’ll see their ad on YouTube or you’ll be you’ll come to a different seminar and over somebody you know, they’re paying now they’re two oh, let’s go grab launch grab launch the case. So, six months later, you know, you go on their podcast, or something, you know, and then it’s sort of like a slow burner, but eventually turns into a joint venture and what’s important, it’s a relationship, because joint ventures alone are of great value. But what if a joint venture actually leads you to go and do more handshakes that ended up turning into more joint ventures. That’s the true beauty of long term relationships in this game. 

8:23

Thank you for listening to the list building lifestyle, get access to the previous episode’s transcript of today’s show, as well as other exclusive content at listbuildinglifestyleshow.com. Also, remember to claim your free copy of my bestselling book at www.igorsbook.com. It explains how I made millions with list building starting from scratch. Plus, I’ll give you $3,000 worth of free bonuses, including my best landing page templates, email swipe files, and traffic blueprints. Go to www.igorsbook.com now to claim your free package.