How to have the right attitude about your business. Let your prospect and clients know that you’re doing them the favor. They are not doing you the favor. That’s the attitude.

[MUSIC]

Michael: This is Michel, how may I help you?

Gabriel: Hi Michel. My name is Gabriel. I wanted to do joint ventures as a living. I tried once and so far it hasn’t worked. I got turned down and I got back up and brushed myself off. And now I found this web-based company that sells high-ticket items phonics and hundreds on personal development and autohypnosis and stuff like that. Then after that, I went and I found this woman who has a website on personal development, no motivation in reaching your dreams and stuff like that. And she has over 200,000 subscribers and trying to do a deal with that. But since this is my first time, I’m not that sure how to proceed.

Michael: So, you found a website and she sells personal development type products?

Gabriel: Yes, I think I found so far only one thing that is really targeted for those 200,000 subscribers, except that it is less expensive than the rest. I think it’s better to have a targeted product.

Michael: Which product do you think would be the best match for her customers?

Gabriel: Basically CD’s or cassettes that are on how to realize your dreams and your goals.

Michael: Does the company who produces these products have a good sales letter or description of the product?

Gabriel: Yes, I believe they do. The company seems to be very good and the website is very nice. It seems to be done by a professional.

Michael: How much does the product retail for?

Gabriel: Something like $127 or $147.

Michael: And in her customer list, what are her products priced at?

Gabriel: I don’t think she has products actually.

Michael: So, she has a subscriber list like an e-zine?

Gabriel: Yes. I don’t think she sells any products?

Michael: Does she sell advertising in her e-zine?

Gabriel: I don’t think so. I signed up, but I haven’t received it yet.

Michael: You want to take a look at her e-zine and see how does she have 200,000 subscribers and what are they learning from there. She if sells advertising in her e-zine, and the most inexpensive way maybe to do a test ad or she if she has a solo ad rate to her subscribers. Now, if she doesn’t have advertising, then you can approach her and ask her if she’d like to do a deal, a joint venture. Now, first of all, can you source the product from the website? Have you talked to them? Do you think you can get it at a wholesale price?

Gabriel: I think I can, but I haven’t talked to them yet. I just wanted to learn as much as possible.

Michael: First you want to make sure you have control of the product. What you can do is you can contact that company and say you’re a wholesaler of motivational type products and you’re interested in marketing one of their products and you wanted to know if you could get some quantity pricing on this particular product. See what they say and see how much you can get it for. Let’s say you can pick it up for $20 a set.

Gabriel: That much?

Michael: I don’t know. I have no idea. You have to find out what’s available. But, you have to have control over the product first. You want to make sure that they have it in stock and that if you’re able to generate 10, 15, 20, 30 orders of the product, would they be willing to drop ship it or could they get it out to you as quickly as possible. You want to make sure you have a supply of the product. Then you contact her. First you want to see if she has any advertising in the e-zine. And you may want to consider a small test ad. You could talk to her and say that you’re a distributor of a specific product. Give her the description and say would you like to do a deal. Would you like to endorse this product to your list? You’ll control the letter. So, you’ll create the little sales letter that goes out to her list. She signs it and have it come from her. And, of course, she would have to approve it and everything. You can make her a proposal that says if you mail this letter out to your list and we sell a bunch of these things, we’ll just split the profits 50/50.

Gabriel: Do you think it would be a good idea to have her interview the product owner?

Michael: An audio interview would be wonderful. Do you mean like an audio interview?

Gabriel: No, just something to put in her e-zine so her subscribers can tell what the product is.

Michael: If you’re going to try to bring this deal together, you don’t want to put her in touch with the company you’re getting the product from.

Gabriel: I see.

Michael: If any one’s going to screw you, they’re going to screw you. Maybe at this point, no. But, you could provide, as a representative for that company, all the information she would need to give information about that product to her list. Or you could represent yourself as a distributor for that product and you could direct her to the website and say why don’t you have a look at the website. I’m the sales rep. You can contact me if you think it’s something worthy. If you present yourself as the sales rep, she’ll be foolish to try to call the company and go around you.

Gabriel: I understand. Even though I have the company sign a non-disclosure agreement…

Michael: On these first ones, I would just get some confidence and some practice in trying to put the deals together without all that. Any kind of agreements and stuff like that get into the process and slows it down. If you feel good about the person you talk to at the company and the person you’re doing business with, most people honor their word. They say they’re going to do something and they’ll do it. You don’t have to worry about it. I’d just focus on getting comfortable approaching and trying to put the deal together and explaining it. Once you do one and you’re comfortable, you can do tons of them. So, look at it as a practice deal.

Gabriel: So, you think I shouldn’t try and do some of the smaller deals to start with?

Michael: No, I think you should just go for the big ones. What’s a smaller deal? What’s the difference? You still have to talk to the person. The only difference is some zeros at the end of the number. You still have to talk to a person, whether it’s a big deal or a small deal. You may as well go for the big ones because if you get one and the two people are honest and it goes; you’re the boss. You just set it up. There are no rules. Just talk with confidence and explain in normal terms what you want to do because she is looking for content to provide her subscribers. She’s always looking to recommend something good that her subscribers would appreciate. If you can bring that product to her and represent yourself as a rep for that product, it may work.

Gabriel: I can pretend to be a rep even though I’m not one?

Michael: First you want to contact the company who has the supply and say you are interested in wholesaling one of their products. Or you’re interested in distributing one of their products and you’d like a favorable price. Would you be willing to sell me a certain amount of units at this price? You don’t have to commit to anything, but you could give them some numbers say you’d like a price on 100 sets of this product. Can I get a discount? Can you give me a price for a distributor? No company is going to turn you down. People are in business to sell their products, books, and tapes. And if you approach them and say I’m interested in selling your products, books, and tapes, but I can’t promise you anything, they’re going to talk to you no matter what. They will talk to you. You can ask them to email you a quote or to fax you a quote on this specific product and you’ll have a commitment from them on a certain date of what they’re willing to sell it to you for. Then you go approach her once you have that down. You are a representative now because you’ve gotten a quote and you’re representing a product you’re interested in distributing. And you can use the information from their website or whatever. Say I’ve got a product that I think your subscribers might be interested in, can I tell you about it. See if you can get her on the phone or you can do an email. See if you can direct her to the website.

Gabriel: You’ve been doing this for several years, right?

Michael: Yes, I’ve been doing marketing for a lot of years. Joint ventures is just two people doing business solving each other’s problem. You’re just the facilitator of that. You’re going to try and solve one of her problems by giving her customers a product that they’re interested in. You’re going to solve her problem by bringing it all together. You’re the facilitator. There’s nothing to be scared of. You’re just trying to help her out. You’re doing her the favor. She isn’t doing you the favor. That’s the attitude. You’re doing her the favor and you’re doing that company the favor. Do you see?

Gabriel: Yes.

Michael: That’s the way you have to look at it. And out of ten deals you set up, you’re going to fail on eight of them.

Gabriel: Eight of them?

Michael: That’s right, eight of them. And every one of them that you fail in, you’re going to get better and better. That is just life. That’s how it is. But the two that you do succeed on could set you for a long time. You need to just work on gaining that confidence and the ability to be comfortable talking to someone on the phone.

Gabriel: It’s going to take a bit of practice.

Michael: That’s it. Every baby starts out as a blank slate. You can do it. Just practice. Over the phone you have nothing to worry about. This is a real good technique. When you approach both companies, you could approach it this way. You say my name is Gabriel. I’m nervous talking to you because I’ve never done this before. But, I’m trying to set up a joint venture and you maybe the first one. Can you help me out? Can I ask your opinion on something or what you think? People want to help people out and say sure, how can I help you? You say, okay, this is what I want to do. I want to take this product of yours that you’re selling for $120 and I want to bring it to a contact of mine who has a huge mailing list of 200,000 people. I think when I approach her, she’s going to fall in love with your product and want to promote that product. Well, I need to make something on this deal so I wanted to know could you give me, if I sell 100 of these, could you give me a favorable price that I can make something on it when I bring it to her? They’ll say, well, sure Gabriel. If you can sell 100 of these, we can get them to you for X amount of dollars. Then you go to her and say, my name is Gabriel. I’m really nervous talking to you. I’ve never done anything like this before, but can I ask your opinion on something? I’m trying to set up a joint venture. I found this absolutely incredible product from a contact of mine that I think your customers will flip over. Here’s my idea. I want to send a little promotional letter to your customers or you could write an endorsement letter endorsing this product to your customers. Now, I’ve secured a wonderful price. Normally it sells for $150. But I’ve gotten a deal where we can sell it to your customers and they can save $50. So, they can get it for $100. And I’ve been able to get it for $50. So, for every one we sell, we can split the profits, $25 for you and $25 for me. Would you be interested if you like the product and felt like your customers thought there was value in it, would you be interested in doing this with me?

Gabriel: That’s good.

Michael: What’s wrong with that? All you’re doing is telling her the truth rather than coming across like some slick salesman. Hey, I’m Gabriel and I’m with so and so marketing and sales company and…people can smell that a mile away.

Gabriel: That’s for sure.

Michael: Be yourself. Tell the truth. Talk to them like you’re talking to your best friend. Just go for it.

Gabriel: What do you think is the best way to approach them first? Do you think I should just email them, introduce myself, and then give them a call?

Michael: You should pick up the phone and call them.

Gabriel: Really?

Michael: Yes.

Gabriel: You think cold calling is almost as good as…

Michael: My name is Gabriel. I’ve been at your website. I’ve seen this product. I’m interested in some quantity pricing. Who can help me? How about that? Is that a cold call? That’s someone interested in buying their products. Get the person in charge of marketing and tell him your idea and see if they can help you sell that product.

Gabriel: Okay.

Michael: They’re there to help you sell products. They’re in business to sell products. If they’ve got someone interested in selling their product, they’re going to kiss your butt. They will. You’ll see. You’re doing them the favor. That’s the attitude. Remember Fast Times At Ridgemount High?

Gabriel: I don’t think so.

Michael: It’s a classic. You’ve got to watch the movie Fast Times At Ridgemount High. It’s with Sean Penn, like one of his very first movies. And actually the movie was based on a real school right here in Clairemont in San Diego where I live. And there’s this guy named Damone and he’s talking about the attitude when he picks up a girl when he goes on a date. And I’ll leave it at that. Give that a try. How about that?

Gabriel: Yes, I will. Thanks so much for your help. It’s really appreciated.

Michael: Will you call me back and let me know how it goes after you’re tried 10 of these?

Gabriel: Yes.

Michael: Call me back and let’s do a follow up on this.

Gabriel: That’s good. Take care.