Build Local JV Partners

Key Points:

0:00 – Opening and Welcome
Karl opens the call with BJ and says the training will “turn up the heat.”

0:25 – Dino Check-In
Dino shares that he is working on his email list while listening to BJ’s First Three Clients training.

0:50 – Launch Factory Excitement
Karl asks Dino if he is a fan of Launch Factory and the “non-franchise franchise,” and Dino says yes.

1:14 – Avonice Shares a Launch Conversation
Avonice explains that she asked someone whether they knew anyone who wanted to start a business, and he said, “Yeah, me.”

1:40 – Prospect Did Not Know Where to Start
The prospect had a dream, a place, a product, a service, and a name, but did not know where to start.

2:00 – Launch Factory Tie-In
Karl explains that Launch Factory gives coaches a way to help the 95% of people who do not start companies.

2:30 – Simple Questions Work
BJ reinforces that simple questions often work best because many people do not need a complicated pitch.

3:00 – Two-Part JV Series Setup
BJ explains that this is the first part of a two-part series on building powerful joint venture opportunities.

4:00 – Step-by-Step Training
BJ says this training will be granular, in the weeds, and designed to help coaches walk away with part of a JV workbook.

5:00 – Local Joint Venture Advantage
The focus is how to become more prominent and trusted in a local market through strong JV relationships.

6:00 – Borrowed Trust
BJ introduces the concept of borrowed trust, where a trusted person’s recommendation transfers credibility to the coach.

7:00 – Why Recommendations Work
BJ explains that when someone trusted vouches for you, the prospect’s resistance and friction begin to lower.

8:00 – Leverage Through Local Partners
Joint ventures allow coaches to leverage existing relationships instead of building trust from scratch with every prospect.

9:00 – JV Strategy Workbook
BJ introduces the JV Strategy Workbook and explains that someone in the local market hears about the coach’s ideal client’s problem before the coach does.

10:00 – Work Through the Steps in Order
BJ tells coaches not to skip around. The workbook is designed to be completed step by step.

11:00 – Scoring Matters
Coaches are told not to skip the scoring section because it prevents choosing partners only because they are familiar or likable.

12:00 – Real Names and Real People
By the end of the process, coaches should have real partner categories, value statements, proof points, and two to three real names per category.

13:00 – Know Who You Serve
BJ explains that before finding partners, coaches need to define the client they want to serve.

14:00 – Ideal Client Clarity
Coaches may need to work with their advisor if they are unsure who their ideal client is.

15:00 – Ideal Client Formula
BJ gives the formula: “I work with [type of business] at [size/stage] who are struggling with [main problem].”

16:00 – Example Ideal Client Statement
Example: “I work with owner-operated service-based businesses doing $500K to $3M who are stuck doing everything themselves and can’t grow past the owner.”

17:00 – Gas Station Test
Zoe notes in the chat that this connects to the Gas Station Test. The statement should be clear enough for a stranger to understand.

18:00 – First-to-Know Moments
BJ asks coaches to identify who hears about the client’s problem before they do.

19:00 – Examples of First-to-Know Moments
Examples include tax time, a loan request, hiring wave, legal change, business move, shrinking profits, cash flow trouble, or staff turnover.

20:00 – Turn Moments Into Partner Categories
Coaches should turn those moments into potential partner categories, such as CPAs, bankers, payroll providers, attorneys, or commercial realtors.

21:00 – Brainstorm at Least 10 Categories
BJ tells coaches to brainstorm at least 10 partner categories before scoring or narrowing.

22:00 – Choose Partners by Scoring
BJ introduces a scoring process that helps coaches decide which categories are truly worth pursuing.

23:00 – Scoring Question: Client Access
One scoring question is how often that partner talks to the coach’s ideal client.

24:00 – Scoring Question: Trust
Another scoring question is how much the ideal client trusts that partner’s advice.

25:00 – Scoring Question: Access to the Partner
Coaches should also score how easy it will be to get a meeting with that partner.

26:00 – Do Not Chase Unreachable Partners First
BJ warns that a partner may seem perfect, but if they are nearly impossible to reach, they may not be the best first target.

27:00 – Choose the Top Three Categories
After scoring, coaches should choose the top three partner categories to focus on first.

28:00 – Break Ties With Reciprocity
If two categories score equally, choose the one where the coach can send the most referrals back.

29:00 – Reciprocity Keeps Partnerships Alive
BJ emphasizes that reciprocity is what keeps local partnerships alive.

30:00 – Common JV Mistake
The mistake is creating the JV only for yourself instead of thinking about the partner’s win.

31:00 – Make the Case for the Partner
Coaches should define the partner category, the partner’s problem, how the coach makes them look good, and what value the coach can bring.

32:00 – CPA Example
BJ uses a CPA example where the CPA’s clients receive financial plans but fail to implement them.

33:00 – Make the CPA Look Good
The coach helps the CPA’s clients act on the plan, which makes the CPA look like a hero.

34:00 – Reciprocity for the CPA
The coach may send referrals for tax or bookkeeping work, co-host a profit planning workshop, or introduce the CPA to business owners.

35:00 – Value Statement Example
BJ models a value statement explaining how the coach helps the CPA’s clients implement plans and achieve better results.

36:00 – Evidence Builds Trust
Proof can include client results, a past career background, a credential, or a mutual connection who can vouch for the coach.

37:00 – Use Bridge the Builder
BJ says coaches can use the Bridge the Builder agent inside the Coaching Dojo to personalize JV language and scripts.

38:00 – Done Beats Perfect
The checklist reminds coaches not to overthink or overcomplicate the process.

39:00 – JV Checklist
The checklist includes one sentence, first-to-know moments, 10 partner categories, scoring, top three categories, value statements, proof points, and real names.

40:00 – Avoid Vague Outreach
BJ warns that without this preparation, outreach becomes vague, bland, and uncompelling.

41:00 – Module Two: Build the Partner List
BJ moves into building the partner list and preparing for coffee, lunch, or conversation meetings.

42:00 – Do Not Pitch Too Early
Coaches should not sit down and immediately pitch a partnership before understanding the partner.

43:00 – Serve First
BJ explains that serving first is the foundation of the relationship.

44:00 – Future Partnership Types
Next week will cover traditional referral systems, paid referral relationships, and other JV structures.

45:00 – Track Names and Sources
Coaches should document each potential partner, which category they came from, and where the relationship originated.

46:00 – Expand From Local Sources
Sources include BNI, LinkedIn, chamber directors, advisors, current clients, Google Maps, reviews, and event speaker lists.

47:00 – Use Current Clients and Warm Sources First
Warmer relationships should be prioritized because they are easier to access and more likely to lead somewhere.

48:00 – Ask Who They Use
One script begins by asking someone who they use for bookkeeping, taxes, or another relevant service.

49:00 – Build a Trusted Short List
The coach can say they are building a short list of trusted people to send clients to.

50:00 – Avoid Scarcity Thinking
BJ tells coaches not to assume busy professionals will not meet. Ask and let the process reveal who is open.

51:00 – Research Each Name
Coaches should research each potential partner’s website, reviews, LinkedIn posts, client match, reputation, and shared connections.

52:00 – Shared Connections Matter
A shared connection can move someone higher on the list because it creates a warmer path in.

53:00 – Watch for Red Flags
Research may also reveal red flags that move someone lower on the priority list.

54:00 – Choose the First Five
BJ advises choosing the first five A-level or B-level partners and saving C-level names for later.

55:00 – Start Where Doors Are Open
Coaches should not begin only with the biggest names in town. They should start where doors are already open.

56:00 – Give First
Before asking for anything, coaches should give value first, such as a referral, introduction, thoughtful comment, review, or event invitation.

57:00 – Reach Out for Coffee or Lunch
Once there is a clear reason and some value given, coaches can reach out for coffee, lunch, or another conversation.

58:00 – Lead With Their Win
Outreach should lead with what is in it for the partner, not a pitch for the coach’s business.

59:00 – Scripts Are Examples
BJ tells coaches to use the scripts as examples and personalize them in the Coaching Dojo.

1:00:00 – Next Week Preview
Next week will cover which JV structures make sense, including lighter referral relationships and financial referral arrangements.

1:01:00 – Use Advisors for JV Strategy
BJ encourages coaches to work with their advisors as they build and evaluate JV opportunities.

1:02:00 – Karl on Planning
Karl reinforces that the magic is not in the plan, but in the planning.

1:03:00 – Sharpen the Axe
Karl references the idea of spending more time sharpening the axe before chopping down the tree.

1:04:00 – Drop Three Bombs
Karl says coaches should have three memorable “bombs” ready in conversations.

1:05:00 – What Makes a Bomb
A bomb is a memorable insight that makes someone say, “Wow, I’ve never heard it explained like that before.”

1:06:00 – Examples of Bombs
Examples include “Profit is the domino that knocks over all the other dominoes” and “Build a business you could sell tomorrow, but don’t want to.”

1:07:00 – Master the Elevator Pitch
Karl says coaches should memorize their elevator pitch until they cannot forget it.

1:08:00 – $100K in 45 Minutes Pitch
Karl repeats the line: “I can find any business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.”

1:09:00 – Dream 100 List
Karl references Chet Holmes and encourages coaches to build a Dream 100 list of the highest-leverage potential partners.

1:10:00 – Magnetic Factor Reminder
BJ reinforces that coaches need the four core elements inside the Magnetic Factor, regardless of which strategy they choose.

1:11:00 – Preparation Shows
BJ says people can tell when a coach is prepared, and they can also tell when the coach is winging it.

1:12:00 – JV Relationship Example
BJ shares that one JV relationship created more than $300,000 in coaching revenue over several years.

1:13:00 – Transformation Through Coaching
BJ reminds coaches that they are not only building coaching businesses. They are creating transformation in the lives of business owners and their employees.

1:14:00 – Operate at a Higher Level
Karl closes with the principle that better tools, training, systems, and methodologies allow coaches to operate at a higher level.

1:15:00 – Closing and Next Week Reminder
BJ says next week will cover modules three and four and continue in the weeds.

Five Key Takeaways

• Strong local JV relationships start with borrowed trust. A trusted partner can transfer credibility to the coach before the coach ever speaks to the prospect.
• Coaches should not randomly pick partners. They should define the ideal client, identify first-to-know moments, brainstorm categories, and score those categories.
• Reciprocity matters. A strong JV is not just about what the coach can get, but what the coach can give.
• Outreach works better when it is prepared, specific, and partner-centered.
• The goal is not just referrals. The goal is building local prominence and long-term relationships that create transformation for clients and the community.

Notable Quotes

“Do you know anyone who wants to start a business?”

“Yeah, me.”

“The simple stuff is real.”

“If you dabble, you’re going to get dabble-like business results.”

“If you want to play like a heavy hitter, you have to prepare like a heavy hitter.”

“Borrowed trust.”

“When someone that they trust vouches for you, their trust now becomes your trust.”

“Somewhere in your town, someone hears about your ideal client’s biggest problems before you ever do.”

“Don’t skip the scoring.”

“Reciprocity is what keeps local partnerships alive.”

“Serve first.”

“Done beats perfect.”

“Start where doors are already open.”

“The magic is not in the plan. The magic is in the planning.”

“Drop three bombs.”

“I can find any business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.”

“Don’t memorize it until you know it. Memorize it until you can’t forget it.”

“Dream 100 list.”

“People know when you’re really prepared.”

“You are transforming lives with the work and the tools and the opportunity that you have.”

Action Steps from the Call

1. Request Launch Factory access if it is not live in your software.
2. Use the question, “Do you know anyone who wants to start a business?”
3. Review the Local Joint Venture Advantage training.
4. Download or open the JV Strategy Workbook.
5. Work through the workbook in order.
6. Define your ideal client.
7. Use the formula: “I work with [type of business] at [size/stage] who are struggling with [main problem].”
8. Run your statement through the Gas Station Test.
9. Work with your advisor if your ideal client is unclear.
10. List first-to-know moments.
11. Identify who hears about your ideal client’s problems before you do.
12. Consider tax time, loan requests, hiring waves, legal changes, business moves, cash flow issues, and staff problems.
13. Turn those moments into partner categories.
14. Brainstorm at least 10 partner categories.
15. Include CPAs, bookkeepers, bankers, payroll providers, attorneys, commercial realtors, IT providers, insurance agents, and other professionals.
16. Score each partner category.
17. Score how often they talk to your ideal client.
18. Score how much your ideal client trusts them.
19. Score how easily you can meet with them.
20. Choose your top three categories.
21. Break ties using reciprocity.
22. Decide what you can give back to each partner category.
23. Create a value statement for each top category.
24. Identify at least one proof point for each category.
25. Write down two to three real names in each top category.
26. Use Bridge the Builder inside the Coaching Dojo to personalize scripts.
27. Do not reach out with vague or generic language.
28. Build your first partner list.
29. Track each person’s name, category, source, and path in.
30. Start with warm sources first.
31. Use current clients, advisors, LinkedIn, chamber relationships, BNI, Google reviews, and event lists.
32. Research every name before outreach.
33. Check their website.
34. Review their Google reviews.
35. Review their LinkedIn activity.
36. Look for shared connections.
37. Watch for red flags.
38. Choose your first five A-level or B-level partner prospects.
39. Do not start with only the biggest name in town.
40. Start where doors are already open.
41. Give first before asking for anything.
42. Send a referral if you can.
43. Make a useful introduction if you can.
44. Comment thoughtfully on their LinkedIn post.
45. Leave a review if you have worked with them.
46. Invite them to attend or speak at an event.
47. Ask for coffee, lunch, or a conversation.
48. Use a warm introduction when possible.
49. Use email or LinkedIn when that is the best available path.
50. Lead with what is in it for the partner.
51. Do not pitch your business too early.
52. Use scripts as starting points only.
53. Personalize scripts to your voice.
54. Prepare your three “bombs.”
55. Practice your elevator pitch until you cannot forget it.
56. Build a Dream 100 list.
57. Study the Magnetic Factor.
58. Practice the four core Magnetic Factor elements.
59. Bring JV questions and scenarios to your advisor.
60. Return next week for modules three and four.

Resources & Tools Mentioned

• Get Your First Client
• Launch Factory
• Non-Franchise Franchise
• Local Joint Venture Advantage
• JV Strategy Workbook
• Local JV Partners
• Borrowed Trust
• Nielsen Research
• Trusted Expert
• CPA Partners
• Bookkeepers
• Bankers
• Commercial Lenders
• Business Attorneys
• Commercial Realtors
• Payroll Companies
• IT Providers
• Insurance Agents
• Chamber of Commerce
• BNI
• LinkedIn
• Facebook
• Google Maps Reviews
• Event Speaker Lists
• Advisor Support
• Coaching Dojo
• Bridge the Builder
• Magnetic Factor
• Gas Station Test
• Elevator Pitch
• Park Bench Theory
• Dream 100 List
• Chet Holmes
• Tony Robbins
• Profit Acceleration
• Exit Acceleration
• Start, Grow, Exit
• Referral Partners
• Paid Referral Relationships
• JV Scoring System
• Reciprocity
• Coffee Meetings
• Lunch Meetings
• Warm Introductions