Joint Ventures Resale Rights Ebook

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Section 5 – Protect Yourself with an NDA

An NDA stands for a non-disclosure agreement. Basically, a nondisclosure agreement binds anybody who signs it from disclosing certain secrets related to the joint venture deal.

The NDA is used to communicate to your joint venture partner that what the joint venture you’re putting together is a valuable, exclusive technique that not everyone knows. This communicates to them that this is valuable.

The NDA is to be used with partners who haven’t done joint ventures before or who don’t really know how joint ventures work. If you’re proposing a joint venture to a seasoned marketer, don’t bother with an NDA. They already know how joint ventures work and have likely done a bunch of them before.

The NDA is a valuable tool when brokering joint ventures. Before giving away exactly how you plan to make them money without them lifting a finger, have them sign an NDA. If they balk, stress the importance of what you’re going to teach them and educate them as to how you’re creating value at no risk and no expense to them.

To get your hands on an NDA, you can get a copy of my JV Secrets course or you can hire your own attorney to draft one for you.

Section 6 – How To Get Paid

You never charge an upfront fee. That goes for setting up joint ventures and brokering joint ventures. You only get paid when your joint venture partner gets paid.

Part of the appeal of doing joint ventures for joint venture partners is they only pay out a commission for money they’ve already collected. They’re not coming out of pocket or contending with any up front fees. And when you’re talking to prospective joint venture partners, you need to educate them to this fact.

In other words, if the joint venture for some unlikely reason didn’t make it money, they would not be liable to pay out any money. So in doing a joint venture or brokering joint ventures, it is strictly a performance arrangement; meaning that you get paid based upon the performance of the joint venture.

By not asking for any money up front, you’re shouldering the risk. And that makes it more appealing to your joint venture partner to do a deal with you.

If you did ask for money upfront, you would kill far more deals than you would ever land. Are we clear on this?

Section 7 – Make The Joint Venture A No-Risk Proposition For Your Partner

Once you have the decision maker on the phone, make him a no-risk offer. Take as much of the risk away from him. Protect him from any downside there might be from doing the deal with you.

And make the joint venture “turnkey”. By “turnkey”, I mean that you should set everything up so that your joint venture partner needs minimal effort to pull off the joint venture and make money.

Here’s why. Your joint venture partner is likely busy and distracted with other things. Then, you come along and you’re asking the joint venture partner to do a deal. That deal is much more likely to happen if you make it as easy as humanly possible for them to do what you’re asking of them.

If you want them to promote your product to their list, have the ad copy ready for them. Sign them up in your affiliate software with all their details. Put their affiliate id in the ad copy. Contact their newsletter person who is responsible for sending out to their lists. Give the newsletter person the ad copy. Get the joint venture scheduled onto their calendar.

Now by doing all of this, what’s this going to do for you in the eyes of your joint venture partner? They’re going to look at you and feel great about doing business with you because all they had to do was okay the deal and then collect a check. All the rest of the work was done by you.

I cannot stress this too much. For whatever you want someone to do, make it as easy as humanly possible for them to do it for you. Do 99% of the work if you can.

If you’re brokering a joint venture, do the work of both the list owner and the product owner. By doing their jobs for them, after you’ve got them to sign off on the joint venture, they’re going to love you for it. You’re the glue in the deal that puts things together and makes things happen. Sure, you’re working to earn your money yet realize this: You didn’t have to spend a fortune creating a responsive list of customers (like the list owner) or spend countless hours and a boatload of dollars developing a product (like the product owner). You earn your commission putting the deal together.

By doing the work of the joint venture partner, when you pitch it to them in this fashion, the offer becomes almost irresistible.

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