The Art and Science of Profitable Joint Ventures with Jay Fiset – Ep. 36

The Art and Science of Profitable Joint VenturesThe Art and Science of Profitable Joint Ventures

Welcome to Daily Confidence for Entrepreneurs Show Episode 36.

Join me and Jay Fiset in this episode, as we discover the Art of Profitable Joint Ventures.

Listen to the podcast here:

KEY POINTS:

  • What is the definition of Joint Ventures? 

  • Who are the perfect fit to start a Joint Venture?

  • What are the top myths about Joint Ventures? 

 

SHOW HIGHLIGHTS:

8:57 – Joint Venture is whenever two or more people or organizations, collaborate with their network, wisdom, resources, and experiences to provide better quality products and services for their clients. 

15:25 –  Joint Venture is best for somebody who isn’t attached to their struggle, and somebody who actually likes people.

19:17 – Some of the wrong assumptions of JV, is that it is all about Email and your Email list.

28:11 –  Joint Venture Partnership is very powerful. It is the most effective and easiest way to generate leads and add people to your tribe. 


TRANSCRIPTS:

Mostafa Hosseini  0:02  

Welcome to Daily Confidence for Entrepreneurs. My name is Mostafa Hosseini. I’m your host for the show. At Daily Confidence we share tips, strategies and actionable advice that you can use to boost your confidence when it comes to running your business on a daily basis, and as a result, grow and scale your business. 

During the show, we’re going to be giving away gifts and we do give away a gift on a weekly basis. If you would like to enter the draw, just like, subscribe, comment, while we are having a conversation and ask questions about the topic that we’re going to discuss. Tag your friend who could benefit from the conversation that we’re having. Also if you rate and review the show on Apple, Spotify, Amazon or any other platform, you get to enter your name for that draw. 

Now, let me introduce myself and tell you about what we got going on. I’m going to introduce my amazing friend Jay Fiset. Welcome Jay.

Jay Fiset  1:04  

Hey, how are you? I lost our video. I was like ‘Where the hell did it go? What’s happening?‘ But I’m back. I’m doing great. How are you?

Mostafa Hosseini  1:13  

I’m fantastic. Let me actually dive right in introducing Jay properly. Then we’re going to get started. We got an amazing topic today which makes a difference in everyone’s business. So Jay, this is a best selling author, student of human nature, avid sportsman at five star hotels, speaks fluent smart ass, can’t see and reflect your life mission in five minutes flat. 

Loves having two sons so he can play with their toys, including restoring their cars in his garage. Still fantasizes about his wife after 25 years. Loves ideas, but loves results even more. Can simultaneously laugh and cry for different reasons at the same time. I’ve seen that firsthand. 

Has never been starstruck, but did not get a chance to meet Mark Martin Luther King, there would have been teenage girls screaming if he had. He’s dedicated to instigating a global movement of conscious creators and supporting people to organize their life and resources around their passion and gifts. Welcome, Jay Fiset.

Jay Fiset  2:27  

Thank you. That one always makes me smile. I like your addition but just about restoring their car has grabbed the way the teenager is working on that car that may well just be another one of my cars. Got to get out and get her up undertaking it over man. Oh, yeah.

Mostafa Hosseini  2:43  

I see all your pictures being excited about new arrivals and, you know, working on it over the weekend. So it’s good. I love how you guys have a father and son project that you guys are both passionate about. I hope I can find a project for my son when he grows up like that.

Jay Fiset  3:00  

I’ll tell you the honest to goodness truth about that? Because it’s another example of a joint venture, right? It’s like how do we collaborate? How do we spend time together? Like how do we actually create an asset and a resource that gives him a start in life? Because it’s fair, it’s a quickly appreciate an old car if you can do it well. 

But I’ll tell you, here’s my lesson thus far is that for a first project like that, we should have just done something cosmetic where we could just paint, clean up the interior and have something but this one is an entire rebuild, which was a little too much, a little overwhelming. You know, I was teasing, but it might end up being my car. But it’s like the project is monumental.

Mostafa Hosseini  3:40  

But how long have you been at it so far?

Jay Fiset  3:43  

How long we own the car or how long we actually worked on it because they’re two very different things. Yeah, well, I would say that we have worked on it for about a year. And then we paused for about six months. 

Mostafa Hosseini  3:56  

So in those six months of the year is the time you’re done?

Jay Fiset  3:59  

Well the goal was for it to be done by October of 2021. If we were to really hustle that could still be done. That could absolutely still be done. In fact, for sure, but I’m at the spot right now where it’s like I’ll continue to accumulate parts, will strategically get stuff if it’s on sale. Like those little mirrors that like that’s I don’t know, if you saw a little picture of something beautiful came in the mail. I think that’s what you’re referring to. 

Those are fender mirrors that were for the Japanese market only. And they’re like, they cost the amount of a kidney. You know, they’re so rare and all at the end to get a real one and all the rest anyway so but when something like that comes up, that’s a good price. I’m just grabbing it so that we can bolt this stuff on. 

Mostafa Hosseini  4:41  

Anyway, that’s a long way of saying he’s got things that you better buy while it’s there.

Jay Fiset  4:44  

They’re as rare as hen’s teeth. Exactly. I mean, this is ruled stock that you know, is probably well anyway, we just want to talk about the money because it’s best not to sell.

Mostafa Hosseini  4:59  

Speaking of Joint Ventures today, we’re talking about the Art and Science of Profitable Joint Ventures. But before we get into that, Jay, please tell us about your story a little bit. What’s your story? How did you get into what you’re doing now?

 

The Art and Science pf Profitable Joint Ventures
Joint Venture is a catch all term for Affiliate Marketing, Event, and Strategic Partnership.

Jay Fiset  5:12  

Oh, goodness gracious, well, I’m probably a lifelong entrepreneur. I’m turning 54 at the end of this month. So I’ve been adding a long while to my core business, which was a personal development company, which I bought. I went to work for them in 1988, and bought it in 1991. 

It still exists, that was a personal seminar where you and I originally met. We basically, we supported over 40,000 people through intense personal transformation programs. I got a little bit tired of that, because it’s an incredible amount of work. There was me and the team of about five facilitators doing courses in three different cities. We would do as many as 200. 

If you counted all the cities that sometimes have as many as 350-400 events a year. So if you do it for five years, you said we’ll talk about that. He said, I want to enter this online world, which was a complete fiasco. I spent three years burning most of my money in a wheelbarrow in the back of my yard. 

Then we hit a home run with a brand called Mastermind to Millions, which was a training program we did for the personal development company that we just made public with some additional marketing. That took us from zero to $2.6 million in 14 months. So for a brief time in Canadian dollars, I was a billionaire. Only, only Canadians will get that. 

In that process, what transpired is we just kept having people going like how do you do that? What can you do? And the answer was we did it with strategic joint ventures. It’s like, well, can you teach me how and for the most part just said no, then I was like, Well, if you’re a friend of mine to tell you how. And it’s like, well, the demand kept growing. 

So we ultimately ended up creating an entire brand called JVology: The perfect mix of People, Fun, and Profit. Teaching the fundamentals of community joint ventures and scaling our business utilizing strategic joint ventures. We’ve been at that I think our very first, our pilot event was in January of 2017. It is now our core driving force. 

That’s a long way to say this. In all of my brands, we create conscious communities of choice. I’m blessed to have amazing people around me. We continue to move and shake in the world.

Mostafa Hosseini  7:29  

So for those people who are new to joint ventures or the affiliate world,

What actually is the definition of a Joint Venture Deal or a Joint Venture Partner?

Jay Fiset  7:41  

That’s a grand question and I’m going to use my definition, which doesn’t mean it’s the definition. Okay, because in the legal world, our mutual friend Heather’s like, “Oh, a joint venture has a very strategic and specific legal definition.” I’m not talking about that. I use the phrase joint venture as an umbrella catch all that applies to Affiliate Marketing where, you might buy a piece of software or something, and it’s like, “Hey, here’s a link, if you share it, we’ll send you some money. It’s a little bit like buy Starbucks with it.” 

Joint ventures, is sort of the middle category that is generally a project, it has a beginning, a middle and end. Like you and I are going to talk about our upcoming Facebook challenge, the JV Jumpstart. That’s a great example, there’s a beginning which is, “Hey, this thing is coming up, it’s going to serve and support people to really make a difference in their business.”  

Then there’s the Event. If there’s any conversions, or depending on how it’s structured, then the people who are participating split proceeds, split leads, split monies, whatever the case may be. So that it’s equitable and fair for everyone involved. The third category is what we call Strategic Partnerships, where we either embed content, or we make sure that in the flow of our client journey we introduce them to the people who are going to help solve their next problem first. We end up really embedding ourselves in one another, which is one of the most beautiful things in the universe. 

I call all of those joint ventures but let’s back that up to this. It’s whenever two people, or two or more people, organizations, collaborate with their network wisdom, resources, experiences to provide better quality products and service for their clients. They figure out some way to split the benefits of that and work as a win for the client, a win for the partner, and a win for ourselves.

 

Joint Venture for me, is whenever two or more people or organizations, collaborate with their network, wisdom, resources, and experiences to provide better quality products and services for their clients. They figure out some way to split the benefits of that and work as a win for the client, a win for the partner, and a win for ourselves.

Mostafa Hosseini  9:20  

Love it. We’re going to dig more into that. So what is your JV story? How did you get started with this whole JV world? Well, you got an interesting story.

Jay Fiset  9:32  

But that is actually kind of entertaining because Personal Best, which was my Personal Development company, is that it was a closed system. We did not do JVs. We did not have anyone ever on our stage and did not do any of those sorts of things. It was just us if you want to play in our world, great. You took our facilitator training and you got certified which would take anywhere from one to four years like that was like it was a closed loop. 

I want to put this in perspective. Everybody listening should be doing Joint Ventures. Figure out how to structure that better because in that process, it took me almost 15 years to break a million in annual sales, working like a freaking madman, Mr. Sketch appropriate. I may not know much, but I can tell you this, I know how to work. I cannot work like most human beings. 

So that took 15 years to break seven figures in annual sales working like a freaking madman. Basically, when I decided I wanted to start this digital marketing thing, it was like, okay, so how does this work? How do you know? I was, after a couple of years, I got an invite to Christian Michelsons Joint Venture Summit. What’s interesting at the time is I didn’t get it, I didn’t understand it.

The first time I was invited, I didn’t go. I didn’t realize that there are people who are like, kissing ass big and working hard to try and get an invitation to this thing. And I get an invite, and I’m so stupid, I don’t do that. The funny thing about it is that while I’m dismissing it, I am failing miserably at Online Marketing, like I’m just failing miserably, which, you know, in hindsight is so stupid. 

Mostafa Hosseini  11:11  

But that’s usually what happens. Like when we’re failing, we’re like, “Oh, I don’t need that. I’m trying to figure this out on my own. Yes, exactly.

Jay Fiset  11:16  

It’s like, and for me, and I don’t know if any of the listeners have a little bit of a stubborn self righteous bone in their body. But I have a little bit of that Saskatchewan stubbornness. I mean, it’s like, God, damn, I’m gonna figure this out, and I’m gonna get it. It can’t be that hard. I’ve seen the people who are doing and they don’t look that sharp, surely I can figure this out. 

Anyway, the second time I was invited, I finally went. I’m in a room of what are supposed to be some 30 of the best entrepreneurs in the digital space in North America and people from Europe came. Honest to goodness, I felt like I was in a dark room with a blindfold on looking for the light switch, because I really didn’t comprehend what the hell was going on. But there I would sit just to put this in context, I have been at that stage of the game, over 22 years, of course, content and development and processes. 

I have 18 Different weekend programs. I’ve certified seven different facilitators who are traveling the world leading these things. It’s like, I have some content but I can’t sell a damn thing online. I sit down beside a woman, I will never forget this as long as I live. So what do you do? What do you do? 

Basically, what she says to me is this, it’s like, yeah, I have a 17 page PDF. And I go to Bali twice a year doing retreats, and I make, you know, half million dollars a year. And I’m like, what, what you’re telling, so I literally have a year of content that changes people’s lives, we have 40,000 people, and I can’t give something away online and you have an F and PDF. And you go on a holiday and you make half million dollars. 

Anyway, that was one of those earth shattering conversations. You weren’t like three days a year. I know. I’m like, so anyway, that was like one of the first smacks I got. Then on that weekend, there’s a whole bunch of those. It’s like, my judgment was that many of them and just please understand, I’m just being as clear as I can my judgments, many of them.

Mostafa Hosseini  13:12  

And here’s my 17 year old, he does the same.

Jay Fiset  13:18  

Honest to God, if that would have happened, I think I’d started crying. But it was like there’s a whole bunch of the smacks. It was like my judgment was these folks are like one note tunes, you only got this one silly little thing. But they were all doing 1000 or a million times better than I was because I couldn’t get something to happen online. 

So basically, what I did was I decided that there were a bunch of great people in that room that I wanted to serve and support. I was going to get behind them and I was going to learn what the hell they were doing because clearly I had a lot to learn. And that for about a year, you’re maybe 14 months, I did nothing but support other people’s projects and programs. 

While I was doing that, we landed on this model of Mastermind to Millions. I was very, very blessed that when we brought that to market, we had some of the biggest players in the universe get behind that program. We went from zero, a brand that didn’t exist to $2.6 million in 14 months. That was all Joint Ventures and that was one of the greatest context expanding experiences of my life in business. 

I should just be clear with people there’s like, when I say Personal Best and worse, but I live on commercial real estate, I’ve owned restaurants, I’ve owned insurance companies. I’ve owned a variety of things in a variety of industries. So I am not an entrepreneurial neophyte by any stretch of the imagination. But I still, through all that experience. I didn’t get the power of JV until Mastermind To Millions.

 

The Art and Science of Profitable Joint Ventures
Strategic Partnership: Embedding ourselves to one another.

Mostafa Hosseini  14:48  

For those of you who are watching and listening or joining us later, Jay Fiset is a dear friend and we’re talking about the Art of Profitable Joint Venture Deals. Jay is a master at this topic. 

Pickin, that’s what we’re talking about. If you have any questions about this topic, or if you know someone that could and would want to grow and scale a profitable business this year in 2021, with all the opportunities everywhere around, tag them and ask a question, if you have any questions, we will answer your questions as we go forward. 

Who is a good fit for JV partnerships?

Jay Fiset  15:25  

Well, somebody who isn’t as judgmental as I was and somebody who isn’t attached to their struggle. There are a whole bunch of entrepreneurs who and by the way, this remark resembles me at the time. It’s a bunch of entrepreneurs who want it and need it to be hard to be right about their story, right. So here’s, you know, our catchphrase or our tagline JVology: The perfect mix of people, fun, and profit. 

So number one, it helps if you actually like people, that really does help. So if you’re an introvert who just wants to hide behind your computer, and those sorts of things, you’re probably going to be stuck over in the Affiliate Marketing piece, you’re going to get a link signup and see what happens. But if you genuinely like people, and you care about people and you want to get behind their mission and their purpose, and all those pieces, and I’ll take it a step further, and you really care about your your clients, and you want your clients have a greater experience of success, then Joint Venturing only makes sense. 

Because here’s the thing, if you are an entrepreneur, and you’re sitting there and it’s like, what can I do to get more perfectly qualified leads I even add to that what can I you do get more perfectly qualified leads for free, that will help grow scale my business, you should be doing joint ventures. If you’re not where you’re going, this up and down income roller coaster thing is driving me nuts. Then what have you had consistent recurring passive income that comes to you through your JV partners that levels that offer you then you should do JV. 

Here’s the honest God truth about it. I have to come across a company, or an organization, or a coaching practice, or a intellectual property business that couldn’t strategically use JVs. Now, I want to be very clear about this. For some businesses, it’s not instantly obvious, takes a little bit of work, which is one of the reasons why we created our five partners and five day challenge. 

There are some fundamental concepts and levels of understanding that you need to understand about your business, your business model, your client, your ideal clients journey that when those things click, it’s like, “Oh, yes, I should be doing this.” I think it must be off, I’m just gonna say this, because I think it’s true. If I’m off you, correct me. But you know, you were at the second JVology Live, and got the concept. 

But it wasn’t really until like two years later that you’re like, holy shit, I’m really I am going to do this. I’m going to blow seven figures out of the water, and away we go. So I think there’s this, I intellectually understand it, I play with it a little bit. And then it’s like, wait a second, this thing’s a home run if I actually just apply the thing. 

I think what happened for you happens for almost everyone. So that’s why we said, look, let’s just teach you the basics for free. When you see the basics through this Five Day Challenge, then you can make a decision. Is this something I want to do more of? In my humble opinion, I think you’d be batshit crazy not to.

Mostafa Hosseini  18:24  

To be clear for the people that are watching and listening. I did about 10 years of BNI. Being in business referrals, networking collaborations, and it still took me a while. Doesn’t that tell you how smart I am to cut, let this whole thing sink in and start using it like on steroids. 

I’ll share with you what’s been happening back in 2020. How all those years of learning hanging out with Jay and people like Jay helped me skyrocket some of my results last year. 

So what are some wrong assumptions that people make about this whole JV Affiliate and Strategic Partnership deal and the whole thing? 

Jay Fiset  19:17  

Well, I know that’s a weekend topic, it’s like, let’s get a couple bottles of wine and have some chuckles. I think number one, top of the list is that people think it’s about email. You know, and that is, by the way, email, and that is for just digital marketers, because it’s free email and nothing could be further from the truth. 

The reality is Strategic Joint Ventures have existed since the beginning of time. What I say to people like email, think of that as 1% of the possibility, what could occur with a great comprehensive joint venture structure and a true alignment in terms of your joint venture partners? So I think that’s number one. It’s like ‘Oh my list is too small or I don’t want to email people about my training.’ That is the silliest, most ridiculous assumption in the universe. 

Is this the way? Of course it is. That is the most ridiculous thing ever. So we teach that this is an entrepreneurial process. So whether you have a brick and mortar store, as my sister and brother in law have a whole bunch of stores and a variety of malls and outlets, they do great Strategic Joint Ventures with simple things like a business card in a box that drives traffic to one of their other associated partners and vice versa. 

 

Joint Ventures are a game of I'll Go First. You have to build the relationship before you have to make the ask.

Simple, clean and easy. What else can I tell you? That you’ve got to be successful at the beginning to start and that is as well BS. It’s like rock climbing, you start climbing from where you are. Because that’s the only choice that exists by the way, you start climbing from where you are. As you continue to move up, you will find that you’ll have greater access to stronger partners, bigger lists, larger audiences and greater opportunities. 

Those are probably the two, there’s one more third one, which is I’m not ready for Joint Venture because my book digital program course workshop isn’t done yet. That is completely backwards, like completely. Here’s the thing, the mistake that people make all the time and this also gets them with sometimes the bad taste in their mouth about JV. 

They go hide in their basement for a year writing a book. When it’s done, they come up with like, tada, hey, world, send my book to your list. The world responds with “who the hell are you? I don’t care.” Then they’re like, “but nobody supports me,” that’s like, “Look, you have to build the relationship before you have to make the ask.” 

That’s why we say Joint Ventures are a game of I’ll go first. The truth is, you should probably if you’re using your noggin, you should probably be doing that for six to 12 months prior to your product service experience being ready.  You should be supporting and building relationships for six to 12 months prior. Then you might find that result. Can you give me another question? I can tell you one silly story.

Mostafa Hosseini  22:18  

Absolutely. Go for it. Okay, no questions. Tell me all your stories.

Jay Fiset  22:23  

So there was a kindhearted person who was in our Joint Venture community for about a year. In that year, she changed what she did, what her business was, at least three times, possibly four. The end of the year comes and it’s like, so you want to renew, it’s like, Well, I’m just her words. I’m just not really very happy with the amount of support that I got from the community. That’s really good, tell me more, it’s like well done. 

So she continues why it’s like this just to be clear about this. In a year, you changed what your business was four times. And you’re surprised that people didn’t run to your side to support and mail. Yeah, that’s okay. Like, I understand. 

But let’s be clear, if you can’t drive the lane on a business that demonstrates success, nobody in their right, freaking mind is going to say, “Hey, what’s your latest stupid shit? Let me send that to my tribe.“ Said no one ever. 

So if you’re this, the reason why you get in and you support people, first if your product, service or experience isn’t quite ready, or you’re still in the middle of pivoting, and all those sorts of things. Ask people to support your pivot, you pivot, you get grounded, you create value, and then say, “Hey, would you do that kind of thing is just really significant and important that we start by supporting people. 

For some building the relationship, when we’ve got something that really is going to knock it out of the park and make our partner look like a rock star to their tribe. That’s when you ask.

Mostafa Hosseini  31:39  

I shared the link for Jay’s upcoming Five Day JV Jumpstart Challenge starting on Monday, January 18. That’s a couple of days. Every day there is a short, sweet and to the point instruction on what to do. He teaches what to do. There’s a community where you connect with 1000s of people from around the world. Last year in April, was it that we did? I think I brought in another 30 or 40 partners as well. Awesome. 

Jay Fiset  32:16  

Like you were what you were working it, I remember you and I have a goal and I am going to nail it.

Mostafa Hosseini  32:20  

Oh yeah, I did. I think you would get five partners if you’re sleeping. Right? To be honest, it’s like there are so many people there. All you need to do is reach out and say “Hey, can we have a conversation?” And they’d be like, “Yeah”, because they’re there to find partners. 

Then you jump on a Facebook call. You call them on Facebook Messenger, wherever they are in the world, and you have a conversation. It’s easy, it could be done in a matter of 5 to 10 minutes. Jay is going to give you all the ropes and he will show you how it’s done.

Jay Fiset  32:52  

Exactly. I will teach you the conversation to have. They will understand because they’re in the community and what the conversation means they’ll be able to instantly see. Yes, this is a value to my tribe and community. You are mine and we’ll teach you this. 

In the challenge you are my upstream, you’re my downstream which changes how we do the deal a little bit, but you got to understand because it simplifies it so much. It’ll be a pretty simple yes or no, let’s give this a shot.

The Art and Science of Profitable Joint Ventures
JVology: The Perfect Mix of People, Fun and Profit

The beauty of building your business is indescribable. Like I don’t really have great words for it. I just look back at how hard I used to work. The closest and without using JVs. It’s like did I fall and hit my head thinking that was the wise road? Things like “What on earth could I have been thinking?

So anyway, I would love to, here’s the last thing and I hate rattling the COVID chain. But it’s got to be pretty clear as we’re in, I don’t know wave 2, wave 3, I don’t know what god damn wave we are in. But that 2021 is going to be a bit of a weird year again. 

The truth of the matter is, we need to find alternatives. We need to create what I call an Entrepreneurial Safety Network. So we need to have alternative ways of reaching our tribe knowing full well that our tribe has greater needs right now than perhaps ever. This is a beautiful way to do it.

Mostafa Hosseini  34:15  

So even with what’s going on in the world, we’re all staying at home during business. Many big businesses have gone more international, having customers all over God’s green Earth like mine in the past nine months than I think combined in the past 10 or 20 years. 

Yes, it’s tough times but now more than ever, we need to be creative. We need partners, we must have collaborative relationships, strategic relationships that can help us grow and scale. Right, we have our inside joke about that pandemic ever. 

Jay Fiset  35:04  

Yeah. I think trepidations because I know it’s been hard on people. But the truth is, for my family, and many of us in our community, this has been just simply one of the greatest times ever, but I am not. I’m not ignorant enough or unconscious enough to not acknowledge why that’s true and it’s because of our community. 

The Entrepreneur Safety Network’s business model that we chose to adopt, it’s true because of the support that we’ve been able to generate and because of the foundation we built for the last three and a half years in this community. That’s why, I know, it’s not people’s universal experience. 

But I tell you, for us, and we were just having this conversation, like my dear sister is battling some health issues. It’s like, I get to have the time to be there to support her, which I know lots of people wouldn’t be able to. 

That is because of this process and this model. By the way, my dear wife brought me breakfast. So if my head is bogged down here, it’s only because it looks too good and I don’t want to wait until it’s cool.

Mostafa Hosseini  36:14  

I want to ask a couple more questions. I’m going to wrap up so you could get to your breakfast and I now go back to my kids and my breakfast. 

What is the next step? I shared the link here, gang. If you’re watching or listening to this amazing five day challenge. It‘s happening next week. If you have not been exposed to this whole JV world. You must simply try this and test it. 

If you’re if you’re struggling with your business, if you don’t know what to do to grow and scale, if you have not and if you feel lonely, which most entrepreneurs do, it is a lot easier to build, grow and scale a business with support from a community hanging out with people that are like minded. 

They understand it and are there to help support, serve you and collaborate together. It just doesn’t get any better than that. So all I’m saying is give it a shot. Work on it. It’s the beginning of the year, people all set their New Year’s resolutions and goals and they want to change the world, i.e. we cannot change the war alone. That’s another piece.

Jay Fiset  37:24  

That is 100% true. We do so I’d like to just talk for a moment or two about number one, you should register for the challenge. But I’d like to talk for a moment about how to get the most out of the challenge. Because how do I put this, we currently live in a society that has the attention span of a gnat. So the five days while compressed and bite size, you still have to make a commitment to actually do it to get the results that you want. 

Here’s what my suggestion is, it’s Number one, you register for the challenge. Number two, somewhere between Monday and Friday, you find in your calendar, 30 minutes a day. Now 30 minutes is longer than you’re going to need, I give you my word longer than you’re going to need. But in that 30 minutes, here’s the three things that you’re going to do. 

 

If you want to be relevant to somebody, if you want to make a difference with somebody, and if you want to be a partner with somebody then step up and contribute.

You’re going to Number one, consume the videos. So you understand what we call the Chapter Titles of what you must do to have your business JV ready and to be in that space. You just gonna watch the videos, and then you’re going to have maybe five to seven minutes, we’re going to ask you to go and do something. That’s it, you must do it. 

You’ll find that the momentum of those things has you in a beautiful spot. But here’s why I asked you to put in 30 minutes and if you want to be really bold you could put in an hour so that we wouldn’t regret it.

Jay Fiset  38:42  

I guarantee you wouldn’t regret it. If you put an hour into what you do with the rest of the time, you spend time reaching out connecting with understanding the hundreds of other people in the challenge and building those relationships, which is how Mostafa got over 30 plus partners in the challenge as well. A little extra time in the relationship building process, which we’re going to hold your hand through. Just understand this is that we spent significant time, money and energy to deliver to you 500 to 1000 entrepreneurs on a silver platter who are looking for you. 

So do you want to spend a lesser time saying “Hey, I’m here?” Or do you want to go and serve Facebook or do others some whatever, that doesn’t actually move the needle, because those relationships will move the needle. That’s how you get the absolute most out of it. By the way, we’re totally cool and bribing you to do so. 

Each and every day everyone who does the activity, we put you in a draw. We draw an Amazon gift certificate. At the end of it everyone who has done all five days, we put in a draw for a prize that’s worth over $12,000 of Joint Venture training, support and community which is frankly exceptional. 

My point to this is do it or don’t because this is like the fork in the road, easy way or the hard way. If you’re too busy, as I was the first time I was invited to Christian Michaelson’s thing, I was like, “Look, I’m too busy burning my money doing shit, that doesn’t work, I got it.” If you’re too busy working too hard, then stay at that and good luck. 

Or if you’re at this spot where it’s like, I want to make the wisest most strategic choice for my business, to scale and grow with ease, then you come and you invest a little bit of time to participate properly, and it will knock your socks off.

Mostafa Hosseini  40:32  

Again, if you’re watching and listening, obviously, I know love, like and trust Jay. So here’s what you should think about. Jay has been building a community and spending time, money, energy and resources to build that community. Okay. These are a community of people who are there to play with you who are there and are showing up to learn and are open to collaborate and learn JV. 

Usually, and if you look around, you will see this, you would have to pay to get into a community like this, you would have to pay an access fee on a monthly or annual basis anywhere from one thousand to ten thousands to hundreds of thousands of dollars to have a community like this. 

So all I’m trying to say is show up and check it out. You will not regret it. Jay, if you had to start all over again, with the JV world, what would you do differently? 

Jay Fiset  41:40  

Oh, that’s a great question. In response, you probably wouldn’t wait for a year or two. Well it’s a little different in the COVID time. But let’s just assume that we’re and there’s variations in the COVID time, I would hustle up the $350,000 plus or minus that I spent doing stupid shit trying to figure out on my own. I take half that money, and I would join communities. That’s it. 

I take $150,000 and I would join the highest level communities that would have me and I would get in there and I would build relationships. And I would contribute with every goddamn thing I had to build those relationships. I would wager that inside of knowing what I know today, inside of six to 12 months, I would have a strong seven headed into an eight figure business.

Mostafa Hosseini  42:25  

Absolutely love it. Like we spent all that time money into Facebook advertising and into Google and this and that, right? If you put and join a community, people who are collaborating doing all this, it would make a monumental difference.

Jay Fiset  42:40  

Can I give you an exact example? This is one of our first launches. So my dear friend, Joshua, and I built Mastermind to Millions, lived together, he was a client of mine that became a friend and became a business partner. We were doing the debrief on one of them and had a ton of partners, we were really well supported. 

But the truth of the matter is that there were like eight people that drove almost 90% of the traffic and the sales. We went back and so those eight people, and then there was still like another 120 or so that we spent an inordinate amount of time with. Like getting them systems and like doing all this stuff that it takes and make no mistake about it. When we say that JV partners give us a steady stream of free leads. That doesn’t mean that it doesn’t cost time and money to build the structure to get them the technology to hold their hand to do all of that.

The Art and Science of Profitable Joint Ventures - Ep.36
Mastermind to Millions : Join high-level communities and build relationships.

That still takes time and money. Not Facebook time and money, but time and money. But here’s where we came to is like, you know, what? Had we not even talked to the other 20 some percent pardon me the other night? Yeah, exactly. If we had just actually booked plane tickets, and flew to New York, and had dinners with a couple of strategic people, flew to San Diego, had dinners with a couple strategic people, and in Los Angeles had dinners with a couple of strategic people, we would have done more with less. 

Yeah, so the truth is, when you’re figuring this out, you’re going to be building a system that everyone can participate in. But you’re really going to be looking for those people that can truly move the needle, and you want to be efficient and effective with them. So that is totally where I would start getting on planes, trains and automobiles. Building and leveraging powerful relationships, which are just a little sidebar to this. 

When we’re done here today at noon, I get to have a nice meeting with one of the people that supported me most significantly in this entire process that I met at that, you know, I’m in the dark with a blindfold on Justin Livingston, and, you know, years later, we’re still connected and all those sorts of things because he’s just a really sharp good guy. He helped me a ton in that process.

Mostafa Hosseini  44:55  

Very interesting. So, gang if you’re watching or you’re listening, the link to Jay Fiset’s Five Day Challenge is in the comments of the show. I’m going to post it again, go there, check it out and hang out, tap into his community knowledge, wisdom, and resources, build your business. This is the way to grow and scale your business. Now, a couple of questions, Jay, what are the top books that you usually recommend to people or have made a significant change in your life?

Jay Fiset  45:27  

That’s a really good question. You know, I go through what I would say, like, reading what do you call when you eat too much? What do you want? When you’re feasting and fasting? There we go. That’s what I’m after. So, I go through these stages of like reading feasting, and I was like, I’m reading 17 books at one time. Then there’s times where it’s like, I just do not want any more content. And I need to really, yeah, exactly. So I think for me, and just, by the way, I’m in the middle of a fast. 

But I think if I look back historically, at the single most significant book that has impacted me, my life, my business, it’s Seven Habits of Highly Effective People by Stephen Covey. The chapter on mission, which I really took to heart, and I still listen to and live, I wrote a mission statement using that model, 35 years ago. I still listen to that on my affirmations when I work out and all those sorts of things every single day. So absolutely the most significant book that has altered the trajectory of my life.

Mostafa Hosseini  46:27  

Love it. What are a couple other books, suggestions that you usually suggest people to read?

Jay Fiset  46:32  

If you got kids, Healthy Sleep Habits, Happy Children, that book probably saved our life, marriage and certainly our sex life. That is, which if you’ve got kids that aren’t seeing and you’re in trouble, or waking. Yes, honest to goodness, it is absolutely outstanding, absolutely outstanding. Those are probably two of my faves. 

Here’s a weirder one, you know, this personal development is difficult to find. But if you can find it, it’s quite stunning, The Silent Pulse. It was out of print. But it is a book about spirituality. You know, if you want it to be a little Star Wars-ish about the force that connects and is interwoven between all things, and how if we’re present and conscious, we can tap into that. That book certainly altered my perception of myself, the world and my place in it. Those will probably be like the three most impactful books in my life.

Mostafa Hosseini  47:34  

Love it. Jay, if you have an ad, a Facebook ad, or Google ad, which everyone on the internet can see, what will your message be?

If you want your business to grow and improve, just come and let us demonstrate to you for five days. That's what our Five Day Challenge can do to you.

Jay Fiset  47:45  

Oh, that’s a great question. Goodness gracious. So I’m going to go back in time to the core of what I think is most important, and it would be this: Do your own work. What I mean by that is, there is a foundation of self-awareness and consciousness that touches, encompasses and facilitates everything else in our life and in our world.

What I see is more and more people doing it, thank goodness, I mean, we started back in the 1980s. But the truth is, if we can just do our own work, and dedicate ourselves to this process of becoming, then the tactics, the strategies, the relationships, all of the other things that people try to do, gets a whole lot easier because of who we are. 

It’s to me the meta skill and meta process, it is why we’re here. So it would be some version of a message that is like, do your own internal work, and the rest of this show is going to be 1000 times easier.

Mostafa Hosseini  48:55  

Absolutely. Love it. Jay, is there anything you would like to add that we haven’t talked about that people should know about?

Jay Fiset  49:04  

Grave, you know, the art community, JVology is the perfect mix of people, fun and profit we have. We have some pretty clear values. One of the loudest is Joint Ventures, a game of I Go First, which means if you want to be relevant to somebody, if you want to make a difference with somebody, if you want to be a partner with somebody then step up and contribute. 

Our Five Day Challenge is us living that message. It’s like, look, you don’t have to buy anything from us. You don’t even have to believe us, you can think it’s all a bunch of silliness, all the rest of it. But here’s what I asked if your business could improve and grow and you want it too, just come and let us and demonstrate to you for five days. 

At the end of the five days you’re gonna say hell yes or hell no, I can’t comprehend Hell no, but I will respect both of those things. But you must educate yourself. You must discover what it means before you can make an intelligent decision. So just let us give it to you and then go decide. That’s it.

Mostafa Hosseini  50:02  

Absolutely. I mean, the advice that you just shared, this million dollar advice. This idea of going in first, if you keep that in mind with your business, it will make a massive difference. So let me share with you my story about JVs. In the past nine months, I’ve added close to 140, or 150, partners to my list, in nine months alone. 

Out of these nine months, I probably haven’t worked actively on adding JV partners, half of it. So 140-150 partners, probably in four or five months, when I was at a meeting where I was at an event at Jay’s events, or other JV events. The processes he’s teaching there are priceless. So I can talk enough about it. I have seen results. I know many people who have gotten results out of it. So go check it out, and do yourself, your family and your customers a favor. 

Expand your reach in being able to help more people and serve and support more people internationally. So that’s it for me. Thank you, Jay. This has been an amazing conversation. We always have good conversations. I always appreciate you and your knowledge and expertise and your amazing heart and what you do.

Jay Fiset  51:29  

Thank you, Brother, I appreciate you making time and squeezing us in on a weekend, go play with your kids.

Mostafa Hosseini  51:34  

One way that we help our tribe to build their competence and become more focused and grow and scale their businesses is through our course Simple Marketing Formula, where we help our tribe to build their One Page Marketing Plan. 

The problem that we solve is the fact that most of the coaches, consultants and experts that we serve are poking around at different marketing ideas, tools, systems, processes and programs. They do that aimlessly without any goals, pleasant plans or directions, causing a lot of confusion, frustration, anxiety and depression because of the fact that they see and experience daily setbacks and failures with what they’re trying to get. 

So we helped them simplify and consolidate their knowledge in what they need to do on a one pager that they could use on a daily basis and increase their chances of experiencing and reaching their success by about 40 to 80 times. 

It’s happening on the weekend of January 22. I am going to put the link in the comments below. Check it out. We are giving this course away. It may be the last time we’re giving it away. People like Jay have called me crazy for doing that. But it’s happening. So if you want to take advantage of that and build a better 2021 you know, income combination of JV partners and a good marketing plan. I think you could do some good magic in 2021. 

So join us and we’ll work together with communities that could do well for you and your business. Thank you for joining us and thank you for listening. If you have any questions, comments about what we talked about, please put it in the comments below. 

Write a review and ask your questions on Apple, Spotify, in any platform that you’re watching, and or tag a friend who could benefit from the topic, growing skill in their business, and you also enter your name into the draw. Thank you for joining us. My name is Mostafa Hosseini, and we’ll see you in our next episode. Bye. Thank you.

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