A Great Marketing Model – Utilizing the Power of OPM

Staying ahead of the marketing curve seems to be a never-ending
quest. Marketing doesn’t have to be as complex as some people
make it out to be. It’s simply a matter of understanding who
you are marketing to – your ideal customers – and then coming
up with a system that keeps your name in front of them. A huge
part of the system is creating enough value for your customers
that they want to hear from you.

Another aspect of marketing is knowing how to continually reach
and increase your market in the most cost effective manner
possible. One way to increase reach and do so cost effectively
is to find other businesses who share a similar market. These
can be complimentary businesses and even competitors. What
better way to get your foot in the door of a new market than
with the endorsement that comes from a joint venture?

Solo marketing efforts are no longer as effective as they were
in the past. True strength lies in utilizing the power of
joint ventures. It is probably one of the most compelling
marketing strategies you can implement. With so many people
competing in any given industry, an appropriate joint venture
can stretch your marketing dollars and increase your market
reach. And do so in a way that people want to do business with
you. That is the power of utilizing OPM – Other People’s
Markets.

Most people refer to OPM as being Other People’s Money. In
reality, when you have been given permission by a person or an
organization to reach their market, you are in essence using
their money. However, this is also a give and take
relationship. If you are using their market, you have to be
willing to let them use yours.

Over the years I have been involved in numerous partnerships.
Some were short term and one time projects, others very long
term. I wish I could say that every venture I have been
involved with has been successful and without incident, but
that is not the case. However, with each situation, whether
good or bad, I learned a valuable lesson that I have been able
to apply to current and future opportunities.

Consider some key factors before establishing a partnership.
First of all, what is the reputation of the person or company
you are developing this relationship with? It is important to
know that the people you are connecting your name with are
reputable, have similar values when it comes to the way they
view business, and they treat employees and customers with the
kind of respect you would expect. If you have an established
customer base that trusts you and you then partner with
another company, you are in essence saying, “Do business with
this company. I give you my word, they are reputable.”

Additionally, is it an equitable relationship? Before making
any commitments, determine what the benefit is for each party.
What does each company bring to the table that will create a
successful partnership? Are you creating a win/win
relationship for all parties involved?

Be sure to test the waters. Do not make the mistake of blindly
partnering with another company only to find out that the two
companies are incompatible. Start with a small project rather
than going in for a long-term commitment right away.

After finding a company you want to partner with, I highly
recommend putting everything in writing. A written agreement
will help both parties to become clear on how their
partnership will work. In many cases, you will want an
attorney to review the information and even draw up an
agreement. Be sure to utilize the services of someone who has
everyone’s best interest in mind. When drawing up a written
agreement, take into consideration the following: individual
and joint roles, how new leads will be handled, and how
expenses and revenues will be shared.

Think of your company vision. Who do you know that you could
help to create a win/win relationship with? When you are clear
on whom you can partner with you will be amazed at what can
happen for you, your partners and most importantly, your
customers and clients.

Copyright & copy; 2004 by Kathleen Gage

Publishing Guidelines: You may publish my article in your
newsletter, on your web site, or in your print publication
provided you include the resource box at the end. Notification
would be appreciated but is not required.

Paul White is a 42 year old former teacher. He now helps people
all around the world to become wealthy online. Whatever you
are selling, visit the popular site: http://www.profitmountain.
com (http://www.profitmountain.com) and if you subscribe to
Profit Mountain`s FREE wealth building newsletter, you will
also receive FREE advertising for the next 12 months! (Worth
$200!) as well as loads of other things!