Leadership Training: Lesson 44

Joint Ventures

Continuing our discussion of the various ways to build an NSP business, in this lesson we will focus on: Joint Ventures

If you are a massage therapist, chiropractor, hair stylist, fitness coach, Karate instructor, Yoga teacher, etc., you can add to your income by selling NSP products at your place of business. Our products are highly compatible with these types of businesses, and many others that you can probably think of, because their customers and clients tend to be interested in improving their health, their energy level, or the way they look and feel.

But even if you are not in one of these occupations you can nevertheless work in partnership with someone who is, if you know someone who will joint venture with you. Here's how joint venturing works:

You provide the products, the display, and any relevant brochures or handouts for their place of business and they sell the products to their regular clients keeping a percentage for themselves and giving the remainder to you to cover the cost of your products and expenses.

It really helps if the owner and staff of the business are using the products themselves. That way they can tell their clients and customers how great they are! You might want to purchase some sample packs (available in the sales aids section of NSP's Master Price List) and give them to the staff so they can try the products. Hopefully they will like them and start buying for themselves.

It helps to focus on products that are very popular with the general public. Weight loss products have always been some of the best choices for starting a joint venture. General nutritional products, like Super Supplemental, Thai Go, and Nature's Noni, are also great. Promote the energy-enhancing properties of these products. After weight management, lack of energy is probably the most commonly heard concern.

Be sure to put a small label on every product that you sell with your business name, phone number, email address, and web site address so customers can easily contact you with their questions or to reorder.

Ideally, once the business owner or manager sees how well the products are selling, he or she will become interested in becoming a distributor. You can explain how they can make even more money by ordering the products themselves directly from NSP, and how they can receive a generous bonus check each month once their sales volume exceeds 100 QV a month.

Many NSP distributors have been very successful with this type of approach by joint venturing with many different businesses in their communities. It is a great way to make new contacts and build a successline.

Business in a Box

Business in a Box is a turnkey system consisting of revolutionary tools, products, and services that are specifically designed to help NSP distributors build their businesses by sponsoring new managers in healthcare and personal care professions. Learn more about this exciting program at http://www.nspbiztools.com/. Since doctors of chiropractic are excellent leads for the Business in a Box system, and since I am a chiropractor myself, I will share the following:

One of my distributors, who was interested in using the "Business in a Box" joint marketing technique, asked me, "What approach would work with you [a chiropractor], or your receptionist? What has worked in the past (surely some salesperson or another has been able to get thru to see you)?"

Below is my response:

"I would have to say that, as far as chiropractors go, I am a tough nut to crack. I would be your worst nightmare—so hopefully this will give you some ideas.

"I do not like it when salespeople come to my office without calling first. However, that doesn't mean that they have not been successful with me on occasion, so don't let that deter you. I no longer have a receptionist, but I did for years.

"However, I also don't like it when people call me to set up a sales appointment. (I told you I would be your worst nightmare.) I almost always refuse such requests. Therefore, the 'cold call' would probably work best for me, because at least that way you will get in the door.

"I believe that the best approach is to not go with the expressed intention of seeing the doctor right then and there, but rather with the intention of setting up a convenient time for the doctor to meet with you for a 'short' presentation. If you are lucky, the doctor will not be busy and will go ahead and see you right then and there. This will happen more times than you would think, so be prepared to make your full presentation when you go.

"It is also quite possible that they will be willing to set up an appointment for your presentation, however, first they might want to know a little bit more about what you have to offer. So be ready with a mini-presentation that will really catch their attention. If what you have to say sounds really interesting to them, they might go ahead and see you then. But if they are busy they will schedule an appointment for you to come back later.

"All doctors are interested in making more money, either by expanding their services or by getting more patients in; and also in saving themselves time. So I would hit these two areas in your presentation.

"Nearly all chiropractors already sell nutritional products. You will probably not get them just by offering additional products to what they already have, unless you are lucky enough to hit them with something that they don't have and that strikes them in some way. (As a side note: Many chiropractors have heard of NSP, and are very favorably inclined to the company. But very, very few are NSP distributors.)

"If you can approach them with something that will save them time (for example, by using you as their resident "herb specialist") and make them more money at the same time, you will have your best chance.

"In my experience, most chiropractors are okay with network marketing. I have seen many who were very interested in the income potential. Present it as a way for their patients to continue generating income for them long after they have been discharged from their care; and also as a way for their patients to refer additional business to them—including those people who would never otherwise come into their office.

"Hit them with this: Statistics show that only 10% or less of the American public visits chiropractors (source in next paragraph) while over half take vitamins and minerals (source: http://www.eatright.org/cps/rde/xchg/ada/hs.xsl/media_3852_ENU_HTML.htm) That latter study did not include herbs. According to another source 'An estimated 40 percent of Americans use herbs for health reasons. And nearly $5 billion are spent (annually) on herbal medicines.' (Do your own research on the net and come up with some good statistics. It's easy, just search for 'What percentage of Americans use vitamins?' and then 'herbs' etc.)

"From Chirobase.org: 'The proportion of the United States population that uses chiropractors and the number of chiropractic visits per capita have about doubled in the past 15-20 years. A 1980 national survey commissioned by the United States Department of Health, Education, and Welfare reported that 3.6 percent of the population used chiropractors that year and that there were 62 visits per 100 person-years (Von Kuster, 1980). The 1980 National Medical Care Utilization and Expenditure Survey found that 4 percent of the population saw a chiropractor (Mugge, 1984; Mugge, 1986). A community-based study of claims data collected between 1974 and 1982 reported that there were 41 chiropractic visits per 100 person-years (Shekelle, 1991). Each of the above studies also reported both large-area and small-area geographic variations in chiropractic use. More recently, a national telephone survey of the United States adult population reported that 7 percent of persons had used a chiropractor in the prior year (Eisenberg, 1993), and the chiropractic visit rate, as calculated from a recent cluster sample in 5 communities in the U.S., was 100 visits per 100 person-years (Hurwitz, in press). In this study, there were only small (less than 10 percent) differences in the estimated use rates among sites (San Diego, California; Portland, Oregon; Vancouver, Washington; Minneapolis-St. Paul, Minnesota; Miami, Florida).'

"Do the math: If only 10% of Americans are using chiropractors, and over 50% (I have seen some sources as high as 85%) are using vitamins and herbs, think of the increased income potential to the chiropractor if s/he can reach some of those other people. And the beauty of network marketing is they can use their patients as "bird dogs" to find this extra business. I have certainly found this to be the case in my practice. Furthermore, this has happened to me a lot: A patient tells his friend about some nutritional product, citing me as their 'expert' and his friend ends up calling me and setting up an appointment for chiropractic or acupuncture. (If you listen closely you might actually hear a 'Cha-ching' in the chiropractor's head.)

"American's are spending literally billions of dollars a year on low-quality herbs and vitamins that they are buying in places like Walmart and Walgreens, with no one there to advise them on their uses. Think of what we could do for these people when we actually give them the real support they need, along with high-quality products that actually work!

"Hit your chiropractors with these ideas, and also sell yourself as the person who can save them time by doing the nutritional counseling for them, and you will be successful.

"Will every chiropractor who you contact be open to this approach? Probably not. In fact, you might have to hear a lot of no's before you hear that one yes. But think of what that one yes can mean for you. I am a chiropractor who was turned on to NSP products, and signed up as a distributor, by one of my patients who presented me with the potential of one NSP product (Tiao He Cleanse.) That was over 15 years ago. I have been a manager for over 10 years. That distributor patient has received a very nice NSP bonus check every month for the past 10 years just because of that one sign up! So don't be discouraged if you are not successful at first. We can be tough nuts to crack, but once cracked we can really help your bottom line!"

Wishing You the Best in Health and Prosperity!
Dr. Duane Weed, MS, DC, LAc
http://weed.mynsp.com

For your convenience, the previous lessons from this series can be accessed from the menu below:

1 Welcome and Introduction 2 Quality is the Difference 3 Service Sets You Apart
4 Know Your Company 5 Know Your Opportunity 6 Know Your Compensation Plan
7 About Network Marketing 8 The Online Health Assessment 9 Company Loyalty
10 Goals 11 Persistence 12 Integrity
13 Follow-up 14 Customer Follow-up 15 Member Follow-up
16 Knowledge is Power 17 Tax Advantages 18 Self-esteem
19 Meetings 20 Type of Business 21 Distributor Websites
22 NSP Forum 23 Using the Internet 24 Building Web Traffic
25 Become a Master Networker 26 Recruiter or Sponsor? 27 Testimonials
28 Testimonials 2 29 Your Personal Story 30 Email Newsletters
31 More on Goals 32 More on Goals 2 33 More on Goals 3
34 More on Goals 4 35 Perseverance 36 More on Type of Business
37 Internet 38 Newsletters 39 Advertising
40 Free Advertising 41 Events 42 Home Parties
43 Public Speaking    

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