4 Simple Steps to Planning a Joint (ad)Venture of a Lifetime!

Planning a successful JV takes a lot of effort, you have to choose the right technology, the right message, and market effectively to ensure success. This requires organized and skillful planning.

There are a LOT of decisions to make. Things like:

WHY: Why do you want to host a JV? Why will it matter – to you, your partners and the collective audience/target market? The “why” of your joint venture must embody the passion you have for the work you do. This passion is what inspires potential joint venture partners to say yes – and, ideal clients to be excited about participating.

It is important to know your primary objective for the JV. Is it to teach them something new, or to have a “round table” discussion? Do you want to get more people on your email list? Do you want to promote a high priced item? Do you want to just give free information? When it comes to planning your JV you want to keep your eye on the prize so you can quickly make decisions with confidence and purposefully achieve your desired outcome.

WHAT: What are you bringing to the table? What is the main message you want to impart to attendees? You need a topic or theme before you can come up with the content, choose speakers, choose JV partners, and obtain sponsors. Your topic must be aligned with your target audience. It should solve a problem, answer questions, or inspire your audience toward some sort of action.

What “kind” of joint venture will you host? A telesummit? A collaborative book or ebook? A blog interview series? A co-created training program with faculty of experts? A collaborative blog or facebook page? Or something else?

What technology do you need to bring this project to life? Make a list of everything you want the technology to be able to do before you start searching for it.

You will also need to develop content for the event as well as all the marketing content. This will consist of the presentations, sales pages, articles for article marketing, blog posts, and readh-to-go blurbs for social media interactions.

WHO: Who is the ideal client? Who are the ideal partners who serve this ideal client in a complimentary (not competing) way? Who else do you need to lead the project from A to Z. Other people on your “who” list might be your online business manager or Virtual Assistant, graphic designer, someone to create the website, maybe a coach or mentor to guide you through the process.

HOW: I always think of the how as the action plan. Decide when you want this JV to come to life and then, reverse engineer an action plan/timeline – including your marketing plan.

And you know how people always say when renovating or building a home to add 25% more to budget and timeline – it’s really the same here (especially if this is your first kick at the can!).

The biggest piece of the how is stepping up to LEAD the joint venture. Every project requires you to wear three primary hats… Leadership + Communication + Networking

Yes, there are a lot of working parts to a joint venture project but the effort is worth the outcome. You’re not only learning a rinse-lather-repeat strategy that you can leverage over and over. Each time is faster and easier than the previous.

And one last tip… the end of a JV project is really just the beginning. You can leverage long term when you implement follow-up-keep-in-touch + back end sales strategies.

We could talk about this for DAYS … and we will so stay tuned to the blog.

Are you ready to get your first or next joint venture project rolling? Consider stepping inside my newest program…

Meet-Play-Love: The Rebelpreneurs Guide to Planning a Joint (ad)Venture of a Lifetime.

We’ll dive deeply into each area of planning your project as well as how you will bring it to life! I’ve been around the JV block a time or two. I’ll be sharing my best strategies, scripts and short cuts that will save you time and money!

… Special pay what you can pricing is on now (for the month of April only!) + we’re giving $5 for every registration to Girlup.org

We’d love to have you join us! Go to: http://ginabellinc.com/meet-play-love to learn more and get registered.

~ Gina xo

SHARE:

8 Comments

  1. This is such practical advice for conducting a joint venture. It helps to really clarify the bigger picture so you can best serve your target audience. I’d love it if you did a follow up post on what to look for in a JV partner. I’ve had a couple of hits and misses with that and would love your expertise. Keep up the great work, Gina!

    Reply
  2. When you said “add 25% more to budget and timeline” I think ALL people taking on a project should heed that advice! That has always been the case for any new project I’ve ever done…it always costs more and takes longer than you think. I’ve made huge mistakes before by not allowing myself enough time and then I am stressed & scrambling to get everything done. That’s the worst feeling so now I always give myself waaaay more time than I think I need.

    Reply
  3. Yes, more time and more budget…..I agree. More time because remember it’s not all up to you…if the JV partners don’t send their info on time, all your timeline will move…and you may take the risk to miss the deadline or to have to work twice as much on the last straight line (and that is terrible!) Ann, the way I pick my JV partners is based on what they could bring to the audience…and what the event could bring to them….visibility, $$$$, connections with other JVs…. don’t assume they’ll know…you’ll have to tell them, here is what’s in it for you!

    Reply
  4. This is great info on JV projects Gina, especially as it’s my first kick of the can. I love the last tip ‘the end of a JV project is really just the beginning. You can leverage long term when you implement follow-up-keep-in-touch + back end sales strategies.’

    Eleanor xo

    Reply
  5. Gina, this article includes a wealth of information. Thank you so much for the timeliness of it and your program. I’m working on a JV for June 12/13 so your wisdom is coming at the perfect time, as always!

    Reply
  6. Thank you Gina for such an informative post! Even though I’m in a solo practice, I’m inclined to want to collaborate and work with others. I’m really looking forward to learning from you how to do this the smartest and most professional way possible!

    Reply
  7. I love, love, love the points you have made Gina.

    JVs are great, but not something you want to go in willy-nilly.

    So much so I actually created guidelines for myself and others who are interested in JVing with me. That’s because if I don’t have them, I can get overly excited about the opportunity and throw caution to the wind.

    Although doing that sometimes is a good thing, it’s not when it comes to partnerships. (I have learned that the hard way!)

    Reply
  8. Such a great post Gina.

    All you stared is imperative, and knowing your PRIMARY PURPOSE really stands out! Don’t have too many objectives. Have a STRONG primary and maybe a secondary, and share that with the group if appropriate!

    A CLEAR message is also key. So glad you discussed it. One STRONG message helps everyone to do their very best work.

    Gina, you are right when you stress that the END of the JV is just the BEGINNING! This is where true professionalism and business smarts come into play. Stay ion touch with JV partners, and even introduce them to other peeps they may be able to JV with.

    I will add, that on certain JV events, it is a great gesture to send the partners a gift, based on how much work went into the project. I do not say this as a plug, but it just so happens that through Women of Splendor, we offer Splendor Sender just for this purpose: We will send your gift to all your JV partners, card and all ( and at a variety of price points).

    Even if you are just starting out in business or with JV’s and cannot afford the “Gifts” right now, at least send a card or thank you to your JV partners. Make them feel special because they really are. They are helping YOU to succeed!

    Love and hugs, and a fabulous post here Gina. Thanks for the great information!

    Margo

    Reply

Submit a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>