So what the hell is a Joint Venture?
Well a Joint Venture (or JV for short) is a business deal between you and a competing or complementary business for the mutual purpose of making money.
More specifically, JV's are when you partner up with another business to promote each other.
It can be you promoting them to your clients or they promote you to theirs.
AND IF YOU ALSO HAVE A LIST OF LEADS THEN YOU CAN PROMOTE TO THAT AS WELL.
The beauty of this is if you can get someone else to champion you to their client list...
...it is the equivalent of rolling out a red carpet for you in their client’s minds.
You piggy back on their credibility with their clients.
The more credible they are, the better you’ll do and vice versa.
This is why you should only partner with credible honest businesses that have their client’s best interests at heart.
But more on that in a while.
Well for starters you can access sections of the market in a faster way.
You can scale your business a lot faster too.
You can develop new business opportunities with new products & services
You can create a diverse portfolio of revenue streams.
You can reduce your marketing costs dramatically.
There are also a load of advantages to JV’s that don’t exist in other revenue streams:
1) Very easily established
2) Significantly augments your ordinary selling efforts
3) Drastically increases overall sales and profitability
4) Substantially lowers your barrier of entry into a marketplace or industry
5) Strongly enhances and elevates your image
6) Expands client base far beyond its current limits
7) Boosts your market presence
8) Provides much-appreciated added value to clients
9) Contribute substantially to perceived client benefits - Offer JV partners clients bonuses they can’t get on the open market
10) Provides easy entry to emerging markets
11) Speeds access to wide varieties of new markets
12) Expand significantly beyond your current limited geographic boundaries
13) Gain a firm foothold in international marketplace
14) Control other people's markets
15) Gain a clear competitive advantage
16) Rapidly overpower the competition
17) Almost unlimited joint marketing opportunities
18) Equally unlimited joint selling or distribution opportunities
19) Facilitates design collaboration and enhanced results
20) Quicker to create/form than mergers
21) Much, much more flexible to operate
22) Far less risky
23) Requires little or no cash
So as you can see there is tremendous upside to JV's.
Disadvantages include that you have to be very careful who you partner with.
Poor fulfilment of product/services to your clients will severely damage your reputation
You need water tight agreements with people, have everything in writing
You also need a get out clause if things go tits up.
If you over reach then you will struggle to fulfil your orders which will damage you and your JV partners reputation.
Really all the disadvantages come under the umbrella of performance either by you or your JV partner.
People spend an enormous amount of time, effort, capital and activity to build, or acquire, or accumulate assets.
Both tangible and intangible.
And they don't really take advantage of them.
People also don’t know how to think in terms of joining the dots when it comes to these opportunities.
They don’t understand the concepts and how the elements go together.
This does mean there is a certain amount of educating we need to do with anyone we partner with.
Well we are very fortunate to be in an industry that has so many complementary products and services serving the same market.
Here’s just a few to mention in the residential:
That’s a list of 123 different products and services that apply directly to the residential market.
And that’s not even considering things that aren’t directly related like:
Look you get the idea.
People buy a lot of stuff.
And as a result if you have a list of leads & a client base both present & past then you can monetise that list in a very ethical and mutually beneficial way.
So why not do it?
My name is Declan Connolly, founder of Affluent Architect.
I’ve been designing homes since 2000.
I started my own practice in 2009.
And now I teach Architects from all over the world how to generate Custom Residential projects for their practices.
And after all that, I can safely say:
The ‘normal’ way of educating potential clients on the benefits of hiring an Architect…
...is NOT THE ANSWER to getting great clients & projects.
If that worked Architects wouldn’t find themselves in the constant battle of:
❌ Talking to people only interested in free advice…
❌ Writing proposals for people who only use them as a fee shopping exercise…
❌ Being underpaid & treated like a commodity…
These problems happen because Architects haven’t been taught something crucial:
How to articulate the value of their services in a way that impacts their clients on an EMOTIONAL level.
Instead, they try to ‘logically’ educate potential clients on:
❌ Reasons to hire an Architect…
❌ Project process…
❌ How they deliver their services, etc…
But high-quality clients don’t care about these things.
In fact, they view these things as OBSTACLES to them getting their new home.
It’s like when someone books a flight for a holiday.
They don’t care about the number of rivets in the plane & the stitching in the seats.
All they care about is enjoying their holiday at the end destination.
Similarly, all that matters to the potential client is the new home.
Along with all the lovely lifestyle benefits it will give them.
All the ‘logical’ based approach does is position Architects as a ‘set of plans to get the permit’.
So, here’s how we fix this.
My Architects attract creative residential projects with clients that pay top dollar for great design.
And the key to this is my proprietary A.V.I.D. Method (Articulate Value & Influence Design Method)...
…which creates marketing messages that emotionally connect with their potential clients.
This A.V.I.D. Method has been developed by trial & error in the real world since 2009.
And it’s the only method specific to the single-family residential market for Architects on the planet.
It’s enabled me & my Architect students to:
✅ Work with celebrity clients on their new home like Mark Owen from the pop band Take That...
✅ Work on jobs that have been featured on the TV Show Grand Designs…
✅ Work on homes worth as much as $18.75 million…
And the secret to this is something I learned when I was struggling to get decent projects for my practice.
I had hit a brick wall and decided to study how past Architects managed to do it.
And who better than Sir Norman Foster himself.
He got started in the high-tech industrial market.
Which is a super-competitive market against far bigger and more established firms.
Sir Norman Foster didn’t go and try and ‘logically’ educate potential clients.
Instead, he described what his target clients’ businesses would be like AFTER they built one of these buildings.
And once I applied this same principle to Custom Residential it completely changed the game for me.
Describing a potential client’s life AFTER they have built their new home is what gets their attention.
✅ It instantly creates trust & respect because we are describing what they really want...
✅ It creates an air of 'exclusivity' & ‘uniqueness’ around our services which clients pay more for...
✅ Defines who our target clients should be & where to find them…
However, it must be done in a certain sequence.
And that’s exactly what I’m going to show you on a special Case Study recording.
Where I show you how the A.V.I.D. Method works.
As well as how it creates my students’ marketing for them which saves a bunch of time.
This Case Study also shows you loads of examples of our students' marketing that is working like crazy in the Custom Resi market:
So, if you're sick and tired of being treated like a commodity...
And you want to finally work with appreciative clients who value what you do…
…get paid the fees that you deserve & have a great income for a change…
…and work on fulfilling creative jobs without sacrificing time with your family…
Then let’s get the A.V.I.D. Method working for your practice.