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Are you under the impression that other business owners who offer something similar to what you offer are your competitors? Do you think these people won't promote you because they see you as a competitor?
This is a common belief among many small business owners – and it's a big mistake. Don't view these other business owners as competitors. Consider them as potential joint venture partners.
Joint venture partnerships with businesses that complement yours are a prime source for you to find new traffic and generate quality leads.
It is so beneficial to your company to find other businesses that have lists of prospects similar to those you are targeting, and to approach them about a joint venture.
This is how the people who are in mastermind groups think. This is why they are so successful. They have this abundance mentality – meaning that they believe there is more than enough business for everybody. These mastermind types are always looking for other things to offer to their list.
They know that there is always going to be that group of hyper-responsives – the people whose desire to buy is greater than your ability to keep up with them. If you are not putting offers in front of them, they'll take that desire to buy somewhere else. You risk losing them as customers if you don't continue to offer them opportunities to buy from you.
That's one of the reasons that, in addition to promoting my own offerings, I'll often do reciprocal joint ventures with people who promote me. When I plan a teleseminar, I create a list of all the people I think could promote my call and invite them via email to participate.
At the end of the call, I always offer something for sale, and the people who helped promote the teleseminar receive a percentage of what I make from those sales. This is a model that works really well.
And the leads you will get from these sources are quality leads. One of the most important things about lead generation isn't only the quantity, but also the quality. What percentage of those leads turn into actual customers? How much are they going to spend with you over the next 12 months? You stand a better chance of getting quality leads by reaching out to the clients of people who are doing things similar to what you are doing.
An added upside to joint ventures is that you only pay your joint venture partners when you make a sale. You don't invest any money up front, which is especially helpful if you're just starting out.
When you develop this mastermind way of thinking, it will give you the opportunity for the exponential growth that you may have been unable to achieve on your own.
As a small businesses owner, you may once have thought that talking to your perceived competitors was the last thing you should do. You need to change your mindset about that. Together, you can accomplish so much more than either one of you could possibly do on your own.
Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.comTweet