How this Bonus Report Was Born

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2 What s Inside How this Bonus Report Was Born... 3 What is Joint Venturing?... 4 How to Find Joint Venture Partners... 5 What to Offer Referred Clients... 6 What to Offer (and ask for from) Joint Venture Partners... 7 How to Guarantee that Your Potential Partner Says Yes!... 8 By the way

3 How this Bonus Report Was Born The Beginners Paradox A few weeks ago I surveyed my clients and CPA Marketing Genius students. I asked them What is Your #1 Frustration With Getting Client Referrals? I received some great responses but one question caught my eye. How Do I Get Referrals Without Clients? At first, I thought this guy was joking or an overworked owner that didn t understand the question. But, as I stared at the words, I had a flashback to when I started. I needed clients but had zero contacts. No one knew the new CPA from Jersey. I was the new kid on the block. I remember wondering how I would get my name out there without a fat rolodex. Back then the answer came easily Hustle my butt off. I talked to everyone I could. I networked like I was possessed and I spent obscene amounts of money on advertising. When I think back to that time, I realize that most of the stuff I was doing did not work. But.There was one strategy I used that worked like gangbusters and that was forming Joint Ventures with local businesses. In fact, it was the only thing that worked. Here s the best part I received new client referrals like clockwork without needing a rainmaker s rolodex. Did you get what I just said? I was able to get new client referrals without having any clients of my own! The answer was there all along and I bet that many others would love to get their hands on the techniques I used. So, I wrote this quick report to show you how to pull off this strategy for yourself. Dig in. 3

4 What is Joint Venturing? Joint Ventures are formal partnerships to exchange leads. I say formal because each of the partners agrees to offer something of value to each other s leads. For example, let s say you set-up a joint venture with a local business attorney. In this case, you could offer every new client referred by the attorney a one-time discount on your services. In return, the attorney would offer a free contract draft to each of the leads you provide. Joint Ventures work because each partner gets the credit for getting their clients a deal. They also feel confident that their leads are getting special treatment and are well taken care of. Also The leads are more likely to give you a call because there is a benefit in it for them. They are getting a private deal. This little psychological push makes Joint Ventures dramatically more effective than handshake agreements to share leads. Why You Should Use Joint Ventures Right Now Incredibly, very few CPA Practices use joint ventures. It s too bad because this strategy is a low cost way to: Introduce your practice to community business owners. No cold-calls needed. Just ask for a lunch meeting to discuss how to help the business increase the customer loyalty. Get free, endorsed advertising from opinion leaders. Your joint venture will introduce you as a trusted partner. Get access to mega-profitable client lists. If you offer a particularly valuable freebie your partner will mail his list on your behalf. These types of sponsored mailings are priceless. 4

5 Some CPA s ignore joint venturing because they believe it s too much work. Don t fall into that trap. This report will give you a jumpstart and help you beat other CPAs to the punch. How to Find Joint Venture Partners Let s get organized. You can divide up your Joint Venture prospects into three categories: Premium: Professionals that understand your services. These businesses regularly service clients who need your complementary services. For CPA s this means: Attorneys; Commercial Bankers and Loan Officers; and Financial Planners. Standard: This group is made up of people who may not offer complementary professional services but they routinely rub shoulders with potential contacts. This list could include: Insurance Agents; Mortgage Brokers; Printing companies; Advertising and Marketing Agencies; and Realtors. Optional: Be careful here. This group includes professional networkers and sales people that tend to send unqualified leads; however, pay attention because there may be a diamond in the rough contact that could turn into a great partner. MLM/Direct Marketers; BNI and other Local Networking Groups; and Chamber of Commerce. How to Make Your First Contact: You will need to tailor your approach to the audience you are targeting. For your Premium group, I recommend a phone call plus an invitation to meet for breakfast or 5

6 lunch. These busy entrepreneurs may take a while to read an or follow-up on a letter. Your invitation should be simple. Let s get together to discuss how I can send more qualified prospects to your firm/business This is an irresistible offer that will pique their curiosity and get you the meeting. For your Standard group, spend the time to select specific businesses that have an excellent reputation in your community. You also want to focus on businesses that actively advertise their services. These people are more likely to take advantage of any offer to attract new business with minimal effort and cost. A phone call or is appropriate for reaching these contacts. If you choose to send an invitation via then highlight that you will make a follow-up phone call to arrange meeting details. This follow-up warning will help keep you top-of-mind. I normally allow businesses in my optional group to come to me. I suggest you do the same. Focus your attention on where you will see the most benefit. Once you ve established your name and reputation as a lead generator you will be swamped with offers from the decent group. What to Offer Referred Clients Your Joint Venture Partners will want to know what they can offer their clients. I recommend offering free samples of your service. It s important to create an experience that motivates your leads to take the next step and contract your services. Some sample offer ideas include: - Free Consultation Vouchers Offer 30 or 60 minute long consultations where you can learn about the prospect s business. This session is valuable for establishing a relationship and moving the prospect toward being a client. - Financial Systems Review A Financial Systems Review helps business owners determine if they need the help of a CPA. Many businesses are unaware how vulnerable their business 6

7 really is due to poor financial controls. - Discounted Flat Fee Offers Offer a pre-packaged, flat-fee service at a substantial discount. You may lose money upfront on this offer but it will be made up with retainer fees later on. Flatfee offers are also great ways to sift out the buyers from the tire kickers. - Free Admission to Seminars, Workshops or Conferences If your practice offers periodic educational seminars then make tickets available for Joint Venture leads. Hot Tip: Always offer two tickets to encourage the prospect to bring a guest. What to Offer (and ask for from) Joint Venture Partners Now, you ve got a breakfast meeting with a potential Joint Venture partner. You know what to offer for every lead she sends. But, what should you offer your partner? Give this some thought because your partner will definitely want to know WIIFM or what s in it for me? Here are some sure-fire goodies that your partner will love: - Newsletter Mentions Offer to include an advertisement from your partner in every issue of your or physical newsletter. Let them know that you will keep running their ad as long as you are partners. - Invoice Stuffers Offer to send a half-sheet flyer along with your monthly invoices. Remind them that they will be advertising to all of your clients even if they didn t refer them. - Business Card Display Place a stack of their business cards or brochures prominently in your office. Consider getting a rack from your local office supply store to make sure your partner s literature is attractively presented. - Website Mention or Advertising Include a link to your partner s website or blog. If they have a graphic banner, offer to place the banner on the home page or partners page of your website. 7

8 Don t be stingy here. Remember that you are at a disadvantage because you don t have a large roster of steady clients. So really pile on the value. This will convince your partner that you re serious and it encourages them to send more leads! How to Guarantee that Your Potential Partner Says Yes! I assume that you re just starting out and you may be nervous about getting your first JV Partner. Here are some proven tips to getting your first partnership yes! - Have a Partnership Attitude : Focus entirely on how you can help your partner s business. Do your homework and come to your first meeting with a solid idea on how you can help your partner. Trust me, the person across from you will feel your sincerity and be more open to what you are proposing. - Send referrals before you ask for a Joint Venture: Prove that you are the real deal. Work to send a solid lead to your prospective Joint Venture partner before you set-up a meeting. This is a sure fire tip for getting just about anyone to give you their undivided attention. - Become a customer! Put your money where your mouth is! Remember, actions speak louder than words. Your partner will appreciate the business and feel compelled to return the favor. Hot Tip: Ask for a stack of business cards after you ve made your purchase. - Do all of the legwork Remember, your potential partner is busy too. Be the first to offer to pick up any paperwork or handle any details that may arise. Most importantly - Lavishly reward partners for referrals and keep doing so for the life of the relationship. Never let them forget that you value your relationship. 8

9 By the way If you re interested in earning more revenue while spending less time and money than you do now, you should consider the Genius CPA Marketing System. The Genius CPA Marketing System is my comprehensive home-study course that shows you how to design your practice for success. The course provides in-depth strategies for positioning your practice, selecting the right marketing vehicles, organizing your staff and increasing staff loyalty. If that is something that you need now visit to learn more. Now, go and set-up your first Joint Venture partnership and start pulling in new client leads! I look forward to hearing about your success. Warmly, Salim Omar, CPA 9

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