Entries from March 2008 ↓

7  Tips How Service Providers  Can Benefit from Joint Ventures and Grow their Business

Many business owners assume that joint ventures only work for those selling products.  The truth is that many online service providers can also benefit and profit from joint venture partnerships.
 
Here’s 7 tips that can help service providers create joint ventures:

1.  Ad swaps.  Most online service providers - whether they are virtual assistants, copywriters, designers, professional or personal coaches, bookkeepers, transcriptionist etc…have a website.  Chances are they have an ezine too.  One potential partnership might include the swapping of advertising space with a relevant business.  This can be particularly helpful if you’re on a budget and looking for new clients. 

For example, a business coach could swap ad space on a website or in an ezine with a virtual assistant.  Many people using a business coach are often looking for ways to optimize their time, and a virtual assistant may be exactly what they’re looking for.  Likewise, people using a virtual assistant might be able to benefit from the services of a business coach, particularly if they’re looking for ways to grow their business.
 
2.  Email and promotions.  If you have an opt in list, or at least a list of customers, you can promote the services of a relevant business in your communications, or even as part of your next business promotions.  Likewise, your partner can do the same for you.  One idea to consider is not merely swapping, but placing an ad in your regular email communications with the agreement that you receive a small percentage of the profits.  You were going to send out the email anyway - now you can make a little bit of money with it.

3.  Guest bloggers.  Blogging on your own site connects you with your customers.  Blogging on another site connects you with their customers – who may become your customers.  Blogging is an excellent way to establish not only a rapport with prospects; you can also demonstrate your skills and knowledge, thereby increasing your credibility as a service provider.  You can swap guest blogs or you can share any profits that come your way by virtue of the blog, or you can make some other arrangement that works well for the both of you. 

4.  Ezine content exchange.  Like blogs, swapping ezine content is something that will help build your exposure and credibility.  Additionally, ezines are easily shared with others and archived for lasting stickiness. 

5.  Product creation.  Many service providers also offer information products like ebooks to give away with a newsletter subscription, or even books or audios to sell.  Partnering with another business owner to create a product can be a tremendous opportunity.  Create a promotional product to give away for free (OR sell the ebook), distribute it to both of your lists, and include advertisements and offers in the book for both of your businesses. 

6.  Swap services.  What tasks have you considered outsourcing?  Administrative tasks?  Copywriting?  Bookkeeping?  Graphic design?  As a service provider you can offer your services in exchange for a partner’s services.  For example, a copywriter may be excellent at writing copy but horrible at designing a website.  Trade a comparable amount of copywriting projects for a complete website overhaul and you’ve both benefited tremendously from the deal. 

7.  Cross-sell.  This is a fun one that many service businesses forget about.  Consider cross-selling.  For example, as a virtual assistant you could promote and offer copywriting services to your clients as a partnership.  Your copywriting partner could advertise that they also provide transcription, web updating and other tasks the virtual assistant handles.  This way you’re bringing in business for each other. 

As you can see, opportunities for service providers to benefit from online joint venture partnerships is tremendous.  Can you add any ideas for joint ventures to this list?

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7  Profitable Membership Sites that You Can Start Today

I’m going to get straight to the point…membership sites are a great way to earn residual income online.  Pick one (or two) of these 7 options below and get some action going….

1.  Coaching/Mentoring

This type of site provides help, insight and support to its members regarding a specific topic.  There are life coaches, business coaches and mentoring programs focusing on varies industries or job types.  A coaching or mentoring site allows the owner to leverage their time.  Instead of offering their expertise to one client at a time, they can provide it to hundreds or thousands of clients at the same time.

2.  PLR (Private Label Rights)

A PLR site offers a random assortment of articles centered around a key word or idea.  The articles you provide through a Private Label Rights site can be legally modified.   Many website owners and bloggers subscribe to these services to use the content on their sites or create special reports and ebooks out of them.

3.  Social Sites

Social sites focus on bringing together specialized niches of people like senior citizens, dog lovers, people from a certain regional area, or just about any lifestyle choice or passion you can think of that would draw people together.

4.  Content

This is probably one of the most popular types of membership site.  A content site offers its members resources and information centered around a particular topic or problem.  Usually the topic is highly specialized and the information it contains cannot be found quickly or easily elsewhere.  Members gladly pay a monthly membership fee in order to have this useful information in one, easy to locate place.

5.  Paid Newsletter

A newsletter site offers its members exclusive access to news and information relating to a specific topic.  Basically, the owner of the site researches and compiles pertinent news stories and data from all sorts of media so that the members don’t have to.  

6.  Message Board or Forum

This type of site requires potential posters (or information seekers) to pay for a membership before they can contribute and/or use certain functions of the forum, such as a search.  Creating a viable forum site can be tricky, as it must provide information that can’t easily be found on another forum or website for free.  They also normally have a very low membership fee.

7.  Content Delivered Via Audio

With this type of membership, all of your content is delivered to your members or posted on your site as audio files.  I have seen this site model used to offer audio files on a wide variety of topics to be used as additional content on other membership sites - rather like business to business marketing.

You can also combine several of these ideas into one membership site. A content site can also have a members only forum, and a paid newsletter can feature a monthly audio bonus.  The possibilities are endless, and the more you offer your subscribers, the more they will value your service.

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Jumpstart your new home business….

If you’ve just recently signed up with a direct sales company or looking for a few more ideas to increase your number of bookings try a these seven tips… 

1.  Exchange shows with other direct sellers in your area.  Chances are you know other people who have direct sales businesses.  If your goal is to book another party, ask them to do it and then tell them that you would book a party through them in return.

2.  Leave a catalog or two in the teacher’s lounge where your child goes to school (check with the school first to make sure that it’s okay).  Teachers are always on the lookout for bargains, fundraisers and various items that will benefit their children. If you sell educational toys or items, you may be able to obtain more than one booking. 

3.  Leave brochures or catalogs in the waiting room at your doctor’s or dentist’s office on your next visit.  Don’t forget to also leave a copy with the receptionist or ask if you can leave one in their lounge room.

4.  Check with your local Chamber of Commerce to see if there are welcome packages for new people moving into the area.   Ask them if you could leave a stack of brochures or business cards to be placed in welcome packages for these new citizens.

5.  Send catalogs or opportunity literature to people or businesses chosen randomly from the telephone book.  Make sure to keep a record of everyone that you have sent this information.  If you choose to send more in the future, you will want to send the information to different people that have not yet received your information. (Just a word of caution…shipping can be costly, so make sure that you have an updated telephone book)

6.  At your home parites, begin by mentioning to the guests that the hostess will be receiving free gifts for having the party.  Let them know what the hostess is working toward and exactly what she needs to receive that item.  Don’t be afraid to boldly ask them to book a party to help the hostess reach that goal.

7.  Make the suggestion that by booking a second show in the future, the hostess will be guaranteed an opportunity to see and try new products as they are released.  This is particularly effective if your hostess last held a show in the spring. Hosting a party closer to the holidays would help her save money on her own holiday shopping.

These are only a few ideas to get started.  Now, take a few minutes to think of more ideas you could do to get bookings.  If all else fails, ask family if they will host a party for you.

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