Partnering Profits Teleclass
It is snowing and no one is going anywhere right now so what better time to write about something fun and interesting.
Thursday night I sat in on the third teleclass of Partnering Profits. Brian Clark. founder of Copyblogger and host of the class, was interviewing Rich Schefren, founder of Strategic Profits. The discussion was two hours and coming from television, I thought that it could never hold up. I’m used to working in two to three minute segments, so it was going to be interesting to see how Brian would pull this off.
To my surprise as Rich began to tell his story, time just seemed to melt away. The threads developed from the beginning business that Rich turned around, a retail store in lower Manhattan that was a family business, to his latest projects online in which he forms successful joint ventures with some of the biggest names in direct response and Internet Marketing. Brian kept the focus on the role of partnerships in growing your business so the session covered all aspects of how joint ventures play a vital role online.
Tactics and how to structure a deal were covered, but it was the personal story lines that really added depth to the session. For example, Rich told the story of moving to Florida and meeting the realtor who was showing him properties. Long story short, he formed a partnership with the realtor and set up an online business to funnel leads to his realty office. They agreed to a profit split and Rich was off to his first successful venture in his new found home.
The intangibles were also covered. When and how to use your gut to feel out the compatibility factor before you enter a partnership. How to place value on what each partner brings to the deal. How to gauge when the time is right to approach someone. How to approach someone. Do you look for partners on your level or do you shoot for someone who is a notch higher than you are? What about the level of commitment? What if partner does not have the same drive you do? How do you pace yourself to avoid burn out? What does it take in the early phase of establishing yourself to make things happen?
All these issues were covered and when the session was over, you felt like you do after a great run; like you had accomplished something that was good for you. Not bad for sitting there for two hours. Actually, it was not all sitting. There was time for some Q and A. A lot of good stuff came out of that too.
All in all it was well worth it. So there you have it. If you are going to set out on the Web, it is nice to able to hear from the top performers. It is also sobering because it tells you the level of commitment needed in order to compete with the big guys. So what are you waiting for? Get to it.
May Your Travels Be Prosperous
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