In this video, I will be explaining the another three strategies that you can use to grow your business in 2021
A powerful marketing strategy is to do joint ventures.
Network with influential people as they have big lists and can help refer potential partners to you.
Approaching your competitors or present clients directly is one of the examples of how you can find people to do joint ventures with.
Creating your own mechanism is another marketing strategy that helps you stand out from the competition.
Think about a unique process in your product or service that no one in the industry has a name for yet and give it a name…
….and make that as your mechanism to stand out in the marketplace.
Finally, jump into a ‘Blue Ocean’.
The key is to shift your business from competing in aRed Ocean to competing in aBlue Ocean
This is about positioning your business where you can dominate, where there is very little competition.
Check out the video I made below to get the full details of these strategies now.
Okay, so talking about key relationships, the next level or partly to do with that is where you can do joint ventures, okay.
So for example, what are joint ventures?
So joint ventures in this sense what we’re talking about is the Jay Abraham style of joint ventures. So, Jay Abraham is a famous marketing guru. One of the old school traditional marketing gurus, if you don’t know of him. So one of his key things is that, he says to grow your business, is to use joint ventures.
So let me give you an example of a joint venture.
Okay, so I’ve got a friend of mine who has been wanting to start an agency, and I’ve been kind of advising him a little bit as to how he can grow and start his agency. So one of the key things was that he wants to do copywriting. I said, “yeah that’s a fantastic thing” and I told him to focus on like email marketing, to focus on writing emails for clients and not do anything else.
So what he’s done right now is he’s basically hooked up with another friend of mine who does e-commerce, like runs Facebook ads, for e-commerce stores, right? And he’s basically going in and saying, “Hey, let’s do a joint venture where you introduce your clients to me to do projects because they’re not conflicting”, right?
They’re actually helping his clients, plus he’s doing email and he’s doing Facebook ads, right? So he’s gonna come in with his email marketing service to help service his clients and basically he will pay any of his clients that pay him money, he will pay back the referral feedback to this guy.
Okay, so he’s gonna grow his business really fast, because this guy I know has some million-dollar e-comm business, right? So he’s got really, really good top clients and this guy here has a service that these guys all need, right? So I think in a very short period of time, he could be having you know, five six figure business pretty quickly, a six-figure business easily. So, and making maybe 10, 20, 30, 40, thousand a month pretty quickly, just from this one relationship.
Okay, so that’s just one example right.
Now, for those of you who have mass products, right, like some of you, I know you make sandals, shoes or discount products.
What you can do is, you can basically approach, even your competitors, to do joint ventures. Because chances are, your competitors will have, maybe a list of say, a hundred thousand people. And maybe out of that list, right, maybe they know that these 30, 40 thousand people, never respond to any emails. They won’t do anything, no matter how many emails they send and all that right?
So basically they could be willing to say, “Okay, let’s do an email blast to these 30,000 people and promote your product in return, we want you know X percent of the surface.” Okay so you strike up a deal and that’s called an affiliate arrangement okay. So you can basically then quite easily get sales for pretty much nothing, right? Although you have to pay a ton to this other person, right?
So that’s another example of joint ventures, and all the top internet marketers, use this Vlog.
You know, you’ve probably heard of guys, like Frank, you know, Tony Robbins all these guys. They all use joint ventures to accelerate their growth really fast and why they are able to do that so quickly is because they network with the people who are the most influential, that have biggest lists, and they do joint ventures together.
So, like, say Tony Robbins would basically do a joint venture with Russell Brunson, for example, right?
So, Tony Robbins may have a list of 10 million people, Russell Brunson may have a list of 10 million people. So, suddenly Russell Brunson is getting exposure to 10 million people and Tony Robins is also getting exposure to 10 million people. And that’s how they grow their business rapidly, okay?
So, I think moving forward, especially with, you know, the economy being the way it is, and, you know, ads, also being more competitive, this would be one of the key ways that you can grow your business without spending too much money and without exposure to too much risk.
So where do you find these people to join venture?
Well, you can approach people directly, approach competitors.
You can also, there is this Strategic Alliance Summit that we’re promoting which for clients, right? So basically, people come to this Summit and basically network with one another and see whether they can do joint ventures together, right?
So there’s all these various ways that you can actually do joint ventures together.
Okay, let’s move on.
So, okay, next thing is to do, to create your mechanism.
Now, those of you who have been with me for a while, you know what I mean by creating new mechanism.
For those of you don’t know, let me give you a bit of background what it is. So right now, as you know, your competition will be much higher. Okay. Everyone’s competing for maybe less money because there’s less spending power out there.
So I think it’s important for you to, one of the ways, this brilliant marketer called Eugene Sports said the strategy behind what happens when competition gets really high is that you can’t go and just say, “Oh, my product is better” anymore, okay, you can’t say, “My sandals are better”, “My clothes are better”, “My cars better” or “My training programs better”, okay?
That is not going to work.
What you need to do is to create your own mechanism or your own process to help you to stand out of the competition.
So for example, for weight loss, for example, right? If you go and say, “Hey, I’ve got a lot of weight loss program”, you know, people are like “yeah, whatever”, you know, “there’s like a hundred million weight loss programs out there or a hundred million bodybuilding programs out there, okay, so what’s the different with yours?”
So, a prime example is P90X, one of those fitness things, like those really popular about 10 years ago, I think.
So, what they created was P90X, which was basically based on the principle called Muscle Confusion, right? Muscle Confusion is basically like okay, you confuse your muscles, so that it grow faster. That is the whole concept behind it, right? It’s nothing that unique or special really, but they were the first ones to come out and put a name to it, right?
So they made it this, okay, by coming out and say, okay this whole muscle confusion thing is important for muscle growth and stimulation blah blah blah, okay. And as a result, they grew to become the most popular program on planet Earth for fitness and muscle building, okay?
So that is just one example of how they create a mechanism that made them unique in the marketplace out there, right?
So similarly, I think those of you who have been exposed, is that what we’re creating for Vince is like the, you know, the 8 figure system, right. Now to tell you the truth, is nothing that unique, right? But we called it a special name, like an eight-figure system and we have also rocket ship funnel and all that kind of terms, so that it makes it stand out from the market place, okay? That is the whole thing, is that if you’re the first to name it and give it a unique name and then you’re able to stand out.
Now, those of you who are making actual products obviously, you know, then you can kind of come up with story behind the special ingredient that you’re using.
So, as you know, KFC does fantastic with that with like what 15 or 21 special herbs spices, right? That’s the mechanism to make them unique from marketplace out there. So when you’re eating other fried chicken, you’re thinking, “Well they don’t have to 21 herbs and spices that KFC has”, right, so that makes them unique in the marketplace out there.
So yeah, let me just give you another example. So, Randise, a digital marketer, they came up with the term like tripwire. Those of you who are into op-in would have heard it before, basically the lead magnet, right? Okay, lead magnet, they came up with that term. They came up with the term tripwire, which is an offer, that basically people buy once they sign up for something and then, after that they have flagship offer, okay?
So, all these were not brand-new, you know, it’s been around for ages but they were the first to name it, and then those terms, other internet marketers caught on to those terms and everybody uses it, and everybody associates that, or well a lot of people associate that with the originator which is digital marketer, right?
So, have to think you know, what is the unique process in your business, in your service, in your product, that no one has a name yet and you can name it and you can make that your mechanism to stand up in the marketplace, okay?
I know this is not an easy thing, so I’m not going to ask you to come up with something on the fly, right?
So yeah, because once again, if you’re dealing with high competition, this is super important to do and it’s gonna make a huge difference to your business if you manage to create it, okay?
Alright, okay, moving on.
Okay, so the next strategy is to jump into ‘Blue Oceans’.
Now today I’m not giving you a very technical, or tactical marketing information. I’m giving you more a big picture strategy for your business, okay? So yeah, just keep that in mind. Normally I would give more tactical stuff but given this end of the year and all that kind of stuff.
Let’s go into the more big picture stuff, okay? Alright, so any of you do not understand what is the concept of blue ocean versus red ocean?
Yeah, so the whole concept here is to shift your business from competing the Red Ocean, shift it to competing in a Blue Ocean by making yourself diffferent, okay?
So how do you do this, from going from Red Ocean to Blue Ocean?
Okay, let me give you some examples, right?
So, back 10 years ago, I had a book publishing business. And what we were doing originally was we were just printing books for people, okay? We were printing books for like McGraw-Hill, all those kind of big players, but then we thought, okay, there is an opportunity here to really change the publishing industry, the book publishing industry.
So what we did was we shifted from becoming just a book printer, and we offered a complete book publishing solution for authors, okay?
So, traditionally, authors would need to go to a publisher and, you know, submit their manuscript back to get published and all that kind of stuff, right? So, our model was more like, “Okay, as long as anyone comes and they submit us a manuscript, they pay us for the service, we’ll publish their book for them and we’ll offer marketing services for the books and all that kind of stuff.”
And because of that, we were able to grow our business super quick because we were moving from a Red Ocean of just printing books for people, and moving into this Blue Ocean, where there’s hardly any competition and we were disrupting the industry and yeah, we were able to grow that business really, really quickly.
So it requires a bit of creative thinking and requires you to look at what’s working in other industries that I can apply in my industry, right?
So that is one example of how you can shift from a Red Ocean to a Blue Ocean.
Now, another example, taking my agency, one of our projects, okay.
So first of all, our agency, we don’t deal with everybody. We are very niche focus, okay, but one of our projects that we’re doing, for example, there is this niche right, which basically sells investments into wines, so, you know, drinking wine. So, basically, what they do is that they go and look for investors to invest in wines, they keep it, store them for them, in a secure place, ensure it and everything, right.
And then after say, five years, the price has doubled, they can then help them to sell the wine as well. Okay, so there is this industry that exists, right? So we are going in into that industry, partnering with an english agency and we are basically offering a service to that industry to generate leads for them, okay?
So, in that industry is pretty brand-new thing, okay?
So, we’re going in and hopefully we can become the dominant player in that industry in the next like 12 months, two years kind of thing.
So once again it’s like okay instead of doing Facebook ads for everyone, we’re going to, you know, jump into this Blue Ocean, where there’s hardly any competitors, and we have a proven model that works and pretty much changing that industry and becoming the main player, okay?