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subject: What The Heck Is A Jv Broker? [print this page]

A Joint Venture Broker (or a JV Broker) is someone who introduces products

and services to an existing traffic. The JV Broker acts as a mediator between

two companies and a partnership is formed.

Confused? Well lets clarify it a little.

When you go to a department store or a supermarket, you see a lot of products

displayed on the shelves. Now ask yourself, how do they get these products?

Do they make it themselves?

The answer is yes and no. They may be manufacturing some of the products or

not. What they do is order from manufacturing companies the products they

sell on their store.

Now, there are sales agents that handle the transaction. They introduce the

product to the store owner and if the owner likes it, they make a deal with

the manufacturing company.

And so, the sales agent is the one who brings together the store owner and

the manufacturing company. He is a go between for the two companies. And in

essence, this is what a JV Broker does.

To be a successful JV broker, you need to set a goal. And that goal is to

make a winner of each individual that is going to be involved in the deal.

These are:

a. You

Lets not be hypocrites. We are doing these joint ventures because we want to

earn money for ourselves. In joint venture brokering, the broker gets a

commission form each sale. This is how you make money from forging the deal.

b. The Manufacturer

It goes unsaid that the manufacturer gets a good deal out of this. With a JV

broker, he doesnt need to spend much on advertisements and promotion. He

could just concentrate on upping the quality and quantity of his products for

the market.

c. The Store Owner

The store owners are the one who gets the products to the consumers. So they

are also winners in this joint. With a JV broker, the store wont have to

deal with finding products to put into his store. All he has to focus on is

increasing traffic to his store and his goods.

d. The Consumer

In the end, the consumer is the ultimate winner in this situation. He/she

receives all the work and effort put out by the manufacturer, the JV broker

and the store owner through purchasing the products.

Keeping in mind these 4 individuals, here are some tips on how to become a

successful joint venture broker:

1.Dig up some traffic or find a product source

Before you do any deals, you need to find the people who will be involved.

The first thing you need to do is to find a traffic initiator. This source

can be a website or a message board, a mailing list or e-magazine. They are

the store owners who will get the product to the consumers.

You also need to find a source that will provide the services or products

that the traffic initiator will market. The deal wont be complete without

the manufacturer.

2.Do your research

Before offering anything, you must know who youre dealing with. After

initial contact with the store owner or the manufacturer, you need to ask

them if they are willing to forge a deal with you.

If they are, you now need to know what they want and dont want. This

information will become especially important if you have come to the stage

wherein youre looking for a joint venture match.

3.Give physical and non physical evidence

Why would they want to work with you? This isnt an easy question to answer.

If youre talking with the manufacturer, it would be best if you have

actually tried their products or services. This will show them that you are

sincere in expressing your interest in what they offer.

If youre talking with the traffic initiator, it would good if you can send

samples of the product for them to try. You can also tell them that youre

using the product or service yourself and your reasons why you think its

great. Testimonials are a great way to get people to understand the benefits

they get from the product.

4.Maintain connections and relations

In being a JV broker, relations are very important. Build up strength in your

connection by encouraging your target to ask questions. Explain the process

in a way they will understand. Remember to emphasize on what the both of you

will be getting out of this deal. Keep the line of communication open.

5.Present consistency and sincerity

Be someone that they can rely on. This is an age old tactic that still works

today. Make sure that you keep your promises and never agree to something

that you cant do.

You can express your sincerity by wanting to help out in their business even

in little ways. This could be in terms of offering to touch up their website

a little (if youre an experienced web developer) or offering advice on how

to boost sales or traffic. Its the little things that contribute a lot to

elevating a relationship from a mere acquaintance to friends.

by: Elijah Chai

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