The ONLY 3 Sources of Business!

By Eric Ruth

There are only 3 sources of business:

Lead generation – you develop your own “house” list of prospects, customers and clients through advertising.
Selling to your already existing prospect, customer and client database.
Piggybacking or “parasiting” off someone else’s customer/client list.

The third option is called many things: Endorsed offers, Endorsed Joint Ventures, Strategic Alliances, Host-Parasite, etc. They all basically mean the same thing (with a few derivations that I won’t get into here). And they are all possibly the single FASTEST way for you to grow your business while minimizing advertising costs.

Ironically, this option is also probably the most OVERLOOKED strategy.

Why?

I believe it’s because small business owners think it’s either too difficult to set up endorsed offers, don’t understand how to do it, or are simply scared to approach other businesses with this offer.

Whatever your reason (excuse)…

GET OVER IT!

You simply will not find a faster, cheaper and more effective way to reach your ideal clients than by using the Endorsed Joint Venture strategy.

Here’s how simple it is to do this:

List the businesses that already cater to your ideal clients: Massage, Chiropractic, Cosmetic Surgeon, Nutritionist, Upscale beauty salon, etc.

Approach the business owner with a win-win proposition like this: “Mr. Chiropractor, many of your clients would benefit greatly from improved abdominal/low back strengthening to protect their back and minimize the pain they’re experiencing. I’d like to offer your clients my special ‘Back-Pain-Elimination’ 30-day fitness program in-a-box (a physical product possibly consisting of a manual, resist-a-ball, tubing, a video and two phone-coaching sessions) for only $199. This program includes (whatever it includes) and it normally costs ($299), but I’ll offer it at this drastically reduced price as a ‘special offer’ to your clients. Plus, I’ll pay you $X (maybe $50) for each of your clients who accepts this offer. You do no work, I handle all the fulfillment, your clients get a proven pain-elimination program at a dramatically reduced price from a certified expert, you make $50 for each client who signs up, AND your clients get better results – faster – by utilizing your services along with mine. This is truly a win-win deal, Mr. Chiropractor, what do you think?” (Then SHUT UP. Remember, he who talks first after the pitch is made, loses!)

If you spend one day – one day – talking to ten chiropractors, you are certain to get at least one to take you up on this deal.

Next you structure the offer as an ENDORSEMENT from the chiro to his clients. If you are not clear on how to do this check out NPE Gold Plus Module 10 “Strategic Alliances”. It’ll walk you through the entire process and give you tools and templates that are ready to go for promotions. But, essentially, you will have the chiro send an endorsed offer letter (that you write) to his clients (or include it in his newsletter, or put flyers in his office, or have his staff “pitch” the offer to those making appointments/coming in for treatment as an up-sell, etc. – there are tons of ways to get the message out.)

This is just one way you can “productize” your business, make a small profit on the front-end and convert a decent percentage of each of these buyers into full-time clients.

What about leveraging these buyers for referrals? What about selling other products and services to them? What about tapping into their sphere of influences? What if one of them is a doctor, an accountant, a real estate agent, an executive, etc? Don’t you think they know others with whom they work/service/sell to who may need your services also? OF COURSE!

You’ve got to leverage every contact. You’ve GOT to see the BIG MARKETING PICTURE!

Okay, let me give you the example of an Endorsed Joint Venture deal that I saw in the newspaper.

Around here we have a chain of upscale “fast food” restaurants called Chicken Out Rotisserie.

They had an insert in today’s paper that said:

Free 3-Day Pass for Sport & Health Club
Look Good, Feel Good, Eat Good

Chicken Out Rotisserie and Sport & Health Clubs have made a joint commitment to offer you the best choices for a healthier lifestyle, but it all starts with you. By becoming more active and making healthier food choices, you will feel better, look better and live longer!

The first step is easy and delicious: just purchase a Diet Out Meal at any Chicken Out Rotisserie and receive a complimentary three-day pass to any Sport & Health Club. Already a member? Show your membership card for a 11% discount on your Diet Out Meal.

As Washington’s premier family of health clubs, Sport & Health offers you the most variety in fitness and sports programs, state-of-the-art equipment and more certified fitness professionals to help you reach your goals.

When you join a Sport & Health Club, your membership includes 2 complimentary sessions with a certified fitness professional and a personalized 30-day exercise program.

There are many valuable marketing lessons included in that pitch. Study it carefully.

The three that I want to point out now are:

Joint Venture Endorsement – people who like Chicken Out Rotisserie will read this and be positively influenced by the endorsement of Sport & Health. People who eat Chicken Out are generally more health conscious and more “upscale” than people who eat at McDonalds.

The creation of a special program/offer. The “Diet Out Meal” is designed specifically for this offer and PACKAGED with a unique name that is tied into the endorsement offer.

Sampling. Sport & Health is offering a FREE 3-day pass. There is no “barrier to entry.” It’s free. Plus they talk about the two free sessions with a fitness professional when you join. This is a double sampling offer. The first is the offer of a free sample of the club, the second is an offer of a free sample of their personal training services when you join. Sampling is an effective, hassle-free way to introduce your products/services, get someone to tangibly experience them and like them, and support the person in making a decision to BUY!

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