Over the years, I’ve worked with business partners on quite a few projects.
I’ve created well over two dozen information products with partners.
I’ve done hundreds of reciprocal promotions.
I’ve created entire funnels and businesses with partners.
And I’ve even sold my business to a partner on a project.
Luckily, I haven’t personally experienced any disasters with business partners, but I’ve seen quite a few with clients who didn’t choose their partners carefully.
The most common disaster is a project that doesn’t go anywhere.
One of my clients recently had that experience.
He invested his time helping a business partner create a joint venture product.
But his partner needed direction for every little step.
Even though the partner was the ‘subject matter expert’ for the project, he wouldn’t even follow simple directions to start putting pieces of the product together.
My client did what he could. He coached him. He interviewed him. And he asked him to put together a few elements for the course.
What his partner eventually came back with…once he chose to do something…wasn’t a sellable product. It simply wasn’t good enough.
If my client wanted the project done, he would have to do all of it himself. And since it wasn’t his primary expertise, he simply decided to write himself off on the project. He gave all rights to his partner and sent him on his way…even after investing multiple hours trying to get this going.
The problem was he should have never chosen to work with this partner.
There were warning signs from the very beginning.
Working with the right partner can help you launch your project faster.
It can give you access to expertise that’s not available for purchase at any price…even if you could afford it.
It can multiply the profits of your business exponentially.
Because a great partner allows you to get more done in less time…while each of you focus on your strengths.
But the wrong partner can sabotage your project from day one.
One of the simplest ways to judge if someone has partnership material is how reliable they are.
Do something small together first. Record an interview. Do they show up on time? Do they provide good information? Are they fun to work with?
Do they have integrity?
That’s key. You don’t want to be constantly ‘keeping an eye’ on them. If that’s required, you’re better off without a partner at all.
Could you trust them with the keys to your house?
That’s a good question to ask. If they’re unreliable or greedy, you’re just asking for trouble. You don’t know when or where, but you’ll be expecting disaster at any time.
And what kind of Internet Lifestyle would that be…looking over your shoulder all the time?
Reliability and integrity are just the first things to look for.
In the September issue of the Monthly Mentor Club, you’ll discover when to partner with others…and when to simply outsource your project to the lowest bidder.
Plus, find out how I’ve set up multiple profitable partnerships over the year…and why having the right partner multiplies your income exponentially.
The issue goes to print on September 1st (and will be available online in PDF at that time also).
Plus, if you subscribe today, you get access to all 8 of the issues from 2015.
- Quick Guide to Creating Million Dollar Products
- Membership Money
- Fast Writing Formula
- Million Dollar Webinar Formula
- World Domination Master Plan
- Entrepreneurs Overwhelm Cure
- Income Funnel Turbochargers
- Product Pricing Magic
I’m not promising how long I will leave access to these back issues, but you can claim all 8 of them now by joining the Monthly Mentor Club today (download the pdf versions to your hard drive immediately as they can be removed at any time)…