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Canadian Virtual Assistant For Coaches Joint Ventures

How Joint Ventures Benefit Coaches & What’s Required

Coaches & Joint VenturesMany coaches get involved in joint venture partnerships, and as a virtual assistant who is familiar with the technical processes involved, I often have newer coaches asking why they would want to do joint ventures and what would be required.

In case you’re not really familiar with what I mean by a joint venture partner, it’s simply someone you can team up with to help sell your products or services. Coaches will often choose to enter a joint venture partnership to share strengths, grow their email lists, and increase their exposure to a targeted audience of potential clients in their niche. JV partners may help each other to make more sales through the increased exposure to each other’s community and email list, and both of you benefit from this through affiliate commissions.

The partnerships and activities may take a number of different forms. Some common examples for coaches are: 

  • Guest blog posts
  • Cross promotion in newsletters
  • Giveaway events (you donate an information product for free to help grow your email list)
  • Joint teleseminars or podcasts (you may be a guest being interviewed or you may interview your partner, giving them exposure to your online community)
  • Telesummits
  • Joint webinars
  • Joint coaching and/or online training programs, etc.

If the idea of doing these activities intimidates you but you still wish you could, you need to work with a business coach who has clients successfully doing these activities. I feel this is very important for my clients who are new to JV partnerships and are nervous about it, yet still interested. You need that kind of support, guidance, and accountability. You know you are limiting your business growth if you never step outside of your comfort zone.

So, you’re interested in doing joint ventures, you’ve found a coach to help you set goals and an achievable plan of action, now what? Before you make a firm commitment to be a JV partner, you have to know what systems you want and need set up to support your activities.

If you’re only looking to do activities to increase your list size, you may only need an account set up with an email marketing system, which you should already have, and a free gift. If it’s a giveaway event, the free gift may need to be something different than your regular freebie offered on your website, and with a higher value.

However, if you’re looking to have others promote and sell your products or programs for you, you need to have a reliable affiliate system. There are various options, but 1ShoppingCart (and private label systems) and Infusionsoft are two of the most commonly used systems that my clients use. If you plan to host teleseminars, webinars, or telesummits, you also need to decide what conferencing system you’re going to use. There are many to choose from, depending on what you need the system to do for you.

Most importantly, when choosing someone to partner with, you want to make sure that their message and offering is in alignment with your business and that it will be valuable to your contacts, but also that what you are offering will be of great value to your partner’s contacts. 

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Why Transcribe Your Telesummit?

As an entrepreneur, you put so much time into planning and hosting your telesummit! You invite some of the best known professionals and coaches in your niche! They share so much valuable information with your subscribers and you make a reasonable profit from the up-sell of the event. BUT…

  • Do you get the most out of your telesummits?
  • Do you use every advantage available to you?
  • Do you get your telesummit audios transcribed???

If not, you are losing additional income opportunities!!

What are the benefits of transcribing your telesummit?

You can…

  • Use them as part of your telesummit upsell.
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  • Use them to create your future information products.
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  • Offer them as a bonus to another product.
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  • Repurpose them for articles and blog posts.
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  • Repurpose them for an e-book or course material.
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  • Repurpose them for social media status updates by pulling out key information and statements (something I am also very good at!).

The possibilities are limited only by your imagination.

 

“But I’ve had an audio transcribed before and it was full of errors, bad grammar, ums and ahs, inaudibles and incomplete sentences!”

That may be a combination of hiring the wrong transcriptionist and not making your goals clear. The right transcriptionist will ask you detailed questions to find out what you need and what you intend to do with the transcripts.

 

MISTAKE #1:  VERBATIM TRANSCRIPTS

If you are having audios transcribed for professional products, the last thing you want is a verbatim-style transcript! Verbatim means that every audible sound (um, uh, ah, like, yeah, etc.) is included. Grammar may or may not be corrected. This is not appropriate for your needs!

You need a transcript that has been edited for clarity and flow. Unnecessary words and incomplete sentences are removed. Grammar is corrected. Sentence structure may occasionally be adjusted or slightly changed to improve reading. Spelling of names, places and technical terms are researched and verified when possible. Inaudibles are removed (or flagged for clarification if it may be important to the content of the transcript).

 

MISTAKE #2:  BIG BLOCKS OF BORING TEXT

Who wants to sit there and read big blocks of text? It won’t be long before your eyes are crossing and you lose interest.

Small paragraphs are best to keep the reader’s interest and save their eyes, with reasonably short sentences (when possible). If the opportunity arises, subtitles and bullet points help to break up the boring text and highlight important aspects of the conversation. A customized border and footer can also make the page more appealing to look at.

 

MISTAKE #3:  CHOOSING THE CHEAPEST TRANSCRIPTIONIST

The general rule of thumb is that you get what you pay for. That isn’t always true, but usually experienced transcriptionists have the reputation and confidence to support their rates.

I’m not going to say that hiring an overseas transcriptionist is a mistake, but I’ve seen a lot of clients who have wasted money and ended up with a page full of mess! Just like in North America, there are some really good ones out there, but there are even more who are inexperienced. Just make sure English is their first language and that YOU take the time to do appropriate research to choose the right person.

If you can’t get a referral for a good transcriptionist, look at feedback and testimonials for the transcriptionist you are considering. It’s not inappropriate to ask to see a sample of their work. Confidentiality is not necessarily an excuse either because some clients give public access to their transcripts (blog, freebie download, etc.). Also, a one-to-two page sample (of a 20-30-page document) generally isn’t going to be an issue for most clients.

 

MISTAKE #4:  HIRING A MEDICAL OR LEGAL TRANSCRIPTIONIST

(Who has no experience in the various styles of general transcription.)

Just because someone is a professional medical or legal transcriptionist, it doesn’t automatically mean they know how to appropriately transcribe and format a teleseminar interview or webinar presentation. General transcription is a specialty of its own, something I learned a number of years ago.

My original transcription training was medical, so I also jumped right into general transcription! My early clients were so nice to me. Too nice! I would have benefited from the criticism they didn’t give me. I eventually learned by working for some general transcription companies, one that taught me to do the edited-style transcripts that are desired for use with professional products.

 

SO… BACK TO THE ORIGINAL QUESTION.

Do you get your telesummit audios transcribed? If not, what’s holding you back?

You could be making extra $$ by adding them to your upsell options, selling them as a stand-alone, and turning them into various information products (e-books, courses, combo product of audio/transcript/workbook/checklist/bonuses, etc.)

The possibilities are endless!

 

 

Contact me today to book your project! Advanced notice is appreciated for optimal turnaround time. Rush rates for large projects are available when schedule allows.

See Audio/Video Transcription (you will be redirected to my old Transcribble site) or email me at lisa@thevirtualsolution.com.

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