Leveraging Joint Ventures as a Podcast Host or Guest

Feb 8, 2023

Joint Ventures

Online business strategist Marie Mack joins the show to talk about how to unlock the power of joint ventures as a podcast host or podcast guest!

Listen to learn about what makes a joint venture partnership a great one, the three wins joint ventures should have, and how to suggest – and actually start – a joint venture collaboration and grow your business with it.

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Defining Joint Ventures

  • When hearing ‘joint ventures’ people often think of big corporations like Coca-Cola and McDonald’s but it has nothing to do with that.
  • Marie defines a joint venture as ‘a relationship where two parties agree to support one another in some sort of visibility’.
  • Marie looks at joint ventures as a sort of collaboration.

 

Examples of Collaboration

  • Podcast guesting is an example of a joint venture, it’s a relationship-building start.
  • Affiliate collaborations, on the other hand, focus on a mutual agreement of someone promoting a person’s product or service in exchange for a commission.
  • Joint ventures are different. They’re about building good long-term relationships instead of having a scenario where someone says ‘Hey, I’m going to send out this email for you, you give me a 50% commission on each sale’ and then the relationship is over. 
  • Sometimes, great joint venture partnerships are the marriage between people or companies providing products or services that complement each other.

 

The Three Wins of Joint Ventures

  • In order to be successful, joint venture partnerships should create a win-win-win scenario.
  • The first win is for the community who gets something of real value – people read through the BS, so you want it to be something really helpful.
  • The second win is for your partner. How does the joint venture relationship benefit them?
  • And the third win is for you – how will your business benefit from the partnership?

Marie Mack 3

Getting Started With a Joint Venture

  • The first step is to do a bit of research. Don’t simply hop on a call without knowing anything about the other person, spend some time to look into what they do and who they serve – take notes on questions, ideas or suggestions you may have and would like to share on the call.
  • For Marie, doing some prospecting will help you minimize the number of useless calls you may have with people with a ‘sell $1M in 5 seconds!’ kind of an offer.
  • Doing your homework before you talk with someone is going to make it more likely for a call to be beneficial. 

 

How to Suggest a Joint Venture to Someone

  • When starting a conversation with someone Marie tries to look at a synergy kind of approach and she focuses on the target market. She asks ‘Who are the people you’re looking for? Who’s your avatar, and how do you serve them?’
  • Once there’s clarity on the avatar, then she looks at whether they can make something work.
  • Focus on getting to know the person you’re talking to and their business.
  • Ask questions and listen, that’s the key to a great start of a potential joint venture.

 

Doing a Lead-Magnet Swap

  • A lead-magnet swap lets you share something of value with your community. It’s a great way of introducing them to someone else without immediately going for the ‘Buy this great $597 product my friend has.’
  • This kind of swap is an excellent way to cross-pollinate leads with somebody else.

 

When you’re wondering whether a specific lead would be useful to your community or not ask yourself this question: ‘Would I be doing my community a disservice if I didn’t tell them about it?’. If the answer is yes, then go for it – share it!

 

  • As far as sharing someone else’s lead magnet is concerned, Marie recommends always using your affiliate link when doing so. 
  • Using your affiliate link is a way to trace someone clicking the link of the lead magnet you shared and making a purchase a few weeks or even a couple of months after clicking it in the first place.
  • There are several ways to help others and get helped with getting more visibility, including: podcast interview swaps, LinkedIn or Facebook lives, giveaways, virtual summits, supporting launches, and doing training inside communities.
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ABOUT MARIE

Marie Mack is an online business strategist with expertise in scaling businesses using joint venture partnerships. For the last 3 years, along with her amazing team, she has successfully completed over 1000 online partnership deals to increase the impact for over a dozen online business owners. Marie & her business partner, Sarah, run a boutique agency all while managing busy families and traveling all over the world!

 

Resources mentioned: 

JVManagerCertification.com (Marie’s Top 10 Must-Have for Affiliate Managers)

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