Joint Ventures: How to Create Wealth from Others’ Overlooked Assets, Few believe me when I tell them of the fortunes they can make starting with nothing. Sometimes I feel as though I'm the only one with macroscopic glasses (to see the big picture) when examining businesses and the many opportunities for creating additional cash flow. Nearly every business I observed has no less than 3 (and often 10) different ways to almost immediately create additional cash flow from its existing efforts, clients, and advertisements. I'm going to share with you one of the simplest of these concepts, which I call joint venture or co-ventures. I assume you have no knowledge of marketing for the benefit of those of you who are unfamiliar with these marketing techniques. Let's begin. For sometimes now I've discovered many working marketing concepts and systems.

All of them are centered around one word: leverage! I want to show you how to use leverage to get greater profits and greater satisfaction out of every dollar (naira) spent and every effort expended.
Over the years, I've learned that every business has one need in common—the need to create more cash flow than is spent on overhead. Tens of thousands of businesses do this very successfully. Unfortunately, they overlook many opportunities to gain greater leverage and reap greater rewards from what they do. It takes just as much energy to create an advertisement that produces 100 sales (or leads) as it does to produce 1,000. In the next few pages I'm going to teach you one of the fastest and easiest ways for any business owner to increase his or her profits by as much as 300 percent and do so with nobility. One of the most ridiculous mistakes and oversights in marketing is the failure to recognize the true value of the relationship a business owner has with his or her customers, vendors, and others with whom they deal on a daily basis. Properly utilizing this overlooked asset can mean thousands, and often tens of thousands, of dollars (Naira) in increased revenue and goodwill. Let me explain. People making a purchase prefer to buy from someone they trust and who has treated them fairly in the past.
You might, with a well-crafted sales presentation, get a 1 to 3 percent response rate on the offer. However, if you go to the owner of that same list and structure a deal where the owner writes or presents the very same offer to the very same people, you will see a response rate that is so much higher it boggles the mind. I've seen response rates to this type of offer (call it an endorsed offer) that skyrocket to as high as 33 percent! This is an increase in response rate of between 1,100 to 3,300 percent! Accordingly, you can literally earn a fortune by showing others how to use this principle to create win-win deals. A good example of using this concept happened a few Christmases ago with a friend of mine who is in the pharmacy business. My client had approximately 10,000 customers on file all of whom loved and trusted him for the excellent service they had received over the years. However, I discovered my client had never ever used this incredible asset of trust in a noble win-win deal. Like too many businesspeople, my client was myopic (unable to see the big picture) in observing his own business. He failed to realize that although his business is selling pharmaceutical products and supplies, all his customers purchase many other products and services (dry cleaning, groceries, cars, insurance, accounting services, etc.)
The relationship with customers provides business owners with the incredible opportunity to use the endorsed offer. By doing a joint venture, whereby they recommend or refer their customers to another professional and noble company, they could share in a percentage of the profits from the newfound business they create for the company they endorse. In this particular situation, I learned that my friend was friendly with a jeweler in town, and Christmas was rapidly approaching. I saw an instant jackpot. (By the way, these deals can be created without a prior relationship with the vendor you will endorse.) Here's a brief overview of what can happen with joint ventures, or endorsed offers. I immediately contacted and interviewed the jeweler to get the "best offer" needed to create a letter for my pharmacy friend to share with his customers. I learned that this jeweler regularly flew to Dubai to purchase diamonds, emeralds, rubies, and other precious stones. More important, by teaming up with another jeweler in Abuja, this jeweler literally saved a fortune by buying in bulk. We drafted a sample sales letter something like the following:

Dear Customers and Friends,
Last week my wife and I were browsing through the many Christmas card to select a suitable Christmas card to mail to you, our customers, to express our appreciation for your patronage.
Of the many hundreds of Christmas cards available, we couldn't find a single card that expressed our heartfelt feelings and appreciation to our customers. After all, it is customers like you who helped us to send our two children to college and build our business to be one of the most successful pharmacies in the city. Frankly, I decided to say thank-you in a very special way—with actions, not words.
Let me explain.
One of my dearest friends, a local jeweler, has the largest selection of diamonds, rubies, emeralds, watches, and other inventory in the area, but more important, he has developed an incredible method of wholesale purchasing that allows him to save a fortune.
As we were talking, I explained how I wanted to do something very special for my friends and customers this Christmas to express my gratitude for their business. I further explained how I wanted to do

something that would benefit and thank them with actions rather than just words in a Christmas card.
After a bit of arm-twisting, my jeweler friend agreed to offer a 20 percent discount to my customers who show this letter during their holiday shopping! This discount applies to any purchase you make in his store this year. This is my special way of saying thank-you to my valued customers. And my jeweler friend, who offers only the finest-quality jewelry, agreed to participate because he believes you will continue to be his customer for years to come.
So feel free to take this letter to XYZ Jewelers anytime between now and Christmas and you will receive a privileged discount of 20 percent off any purchases—as well as VIP treatment from my friend.
Since almost everyone buys jewelry during the Christmas season, my wife and I feel this is a much better way of saying thank-you than any card we could send.
Enjoy, and Merry Christmas, >
Don and Susan Smith, XYZ Pharmacy
RS. Oh yes, he did request that I ask you to print this letter to him inconspicuously so that his other customers won't feel slighted. They aren't getting this VIP discount. Please do me this kind favor when you go in...
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