“Let’s Do Something Together That Will Make Us Both Money,” my Marketing Friend Said

How Can You Offer Transformational Value to Your Clients?

I went out to lunch with my friend who is a really smart marketer. We were having a good conversation about different things that are working in our businesses. At the end of lunch my friend said to me “We should do something together, like a joint venture. Let’s do something that will both make us money.

The more I thought about it, the more I realized we were approaching it from the wrong angle. Joint ventures are great if you can come up with an idea that will complement both businesses.

It’s similar to the same question an attorney asks “How do I make my video go viral?”

The real question that my friend should have asked was not “What can we do together that will make us a lot of money?” Rather, the question should have been “What can we do together that will help transform people’s lives?”

By focusing on the good that can be done when two businesses join together that will help a consumer or potential client improve their life, the secondary effect will be to generate income.

It goes without saying that every business is in business to make money and generate profit. I agree with that 100%. However, just looking at a joint venture for the sole purpose of only making money, to me, means that you’re leaving out an extremely important ingredient. The mindset a business owner needs in order to create transformational value to the consumer or client is critical.

HOW DO YOU MAKE A VIDEO GO VIRAL?

The answer to the question about how to make a video go viral is not to focus on why videos go viral. You should not spend a single moment thinking about what you can put in your video that will increase the chances that your video will get more than a few organic views. Instead, your goal is to create great content that your viewers want and need. 

Most attorneys and marketers fail to realize that getting a video to go viral rarely affects the number of calls you get into your office from qualified consumers who are looking for your services. Sure it’s nice to be able to tell someone your video has generated 25,000 views. However, if that video has not generated any calls to your office, you have accomplished absolutely nothing other than inflating your ego with something that does not improve your bottom line and your revenue.

There is no doubt in my mind that lawyers who look to change people’s lives for the better get repaid continuously by clients, friends and colleagues who recognize the good they are trying to achieve. For most of those attorneys, the money is secondary.

Bottom line: Focus on the mindset of providing transformational value to your consumer or client. That will make you money.

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4 Responses to “Let’s Do Something Together That Will Make Us Both Money,” my Marketing Friend Said

  • Jim Thompson says:

    Very timely post, as I am meeting with someone this morning to discuss a joint venture and both of us have the attitude of creating value first. On the other hand I have been asked to be a part of a JV where value is not the main concern and i have backed off, perhaps i will send this post to remind the person of what is important.

  • Excellent idea. Keeping in mind what is important is key. If the transformational value of what you can offer your ideal consumers together far outweighs what you can each offer separately, then a JV might be right for both of you.

  • Gerry: Important observation. Focusing on the wants, needs and desires of the client or customer is the basis of every good business or professional practice and finding the right joint venture that creates more of that is the key to a successful venture. Brilliant as always.

  • Thanks Dave! Your observations are always spot on and that’s why I really love participating in your mastermind groups. If you are a small business owner, attorney, professional or entrepreneur and want to learn how to take your marketing to the next level and if you want to learn how to communicate better with your family, partners, clients and customers, you really need to spend some quality time with Dave Frees at his mastermind group called 3 Days to Success. I highly recommend it.

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