How To Use Joint Ventures To Power Up Your Product Launch And Propel Your Business To New Heights – an interview with Terra Farrar

Terra Farrar

Terra Farrar
Joint Venture and Product Creation Expert

Terra Farrar is an expert at creating information products and on using joint ventures and product launches to sell those products. She is the resident Product Creation and Implementation expert in the Joint Venture Inner Circle, where she helps a global community of entrepreneurs get JV Ready with products their JV partners will love to promote.

Terra says surrounding yourself with potential joint venture partners is an important step when you are planning your product launch. The key is finding people who specialize in areas you don’t but who are complementary to your offerings. You can then help your clients by offering more complete solutions to their challenges.

Some of the benefits of joint ventures:

  1. When you have a team of people in the form of joint ventures each promoting your product to their community, you are making time-saving deposits into your account and withdrawing far less out in the form of marketing dollars to reach that same number of people.
  2. You gain expert recognition. Your JV Partner is talking you up and the members of their community, by association, see you as an expert on your topic and the go-to person if they want more assistance or information.
  3. You Create New Relationships with Experts Around The World.

Some immediate action steps you can take to build your own joint venture inner circle:

ACTION STEP #1

Create a list of topics you would like to make available to your clients/customers. Information you do not know much about yet see an advantage for your clients to have access to.

ACTION STEP #2

Research and determine who does provide this information and tools. Start by looking at members within your current network as well as associations you belong to.

You can also do a search on the internet, check out their website etc., and look for products / programs they offer in addition to their 1:1 coaching. For those of you involved with social media, you can also post and ask who might know someone who…

ACTION STEP #3

Select the best way to leverage your expertise into joint ventures that appeals to you and have that be your first JV focus.

The critical importance of having your own product

To joint venture you must have a product or multiple products. What is the best way to get products created?

Terra says interviews are the fastest way to get content for a product and in the process become identified as an expert.

Interviews answer both dilemmas: how to capture the content from those great ideas swirling around in your head and do it FAST!

That’s why Terra has a detailed interview process when working with her clients:

“Many times my clients find out something new about themselves during the interview. They get connected to their own system, process, tools, or techniques they did not realize were there and they discover what they are really passionate about. A lot of times it’s a bit different from what they thought.”

Terra helps her clients turn that one interview into 3 products:

Product #1 – Special Report

Product #2 – Multi-week tele-course

Product #3 – Home Study Course

With a product and/or program you are now in the game! You are positioned to team up with other experts to cross-promote, build your list, reach more people and make more money faster and easier.

The Dream Launch Academy

The process of launching and creating a product can be complex with a lot of moving parts. So Terra has created The Dream Launch Academy, where she has assembled a Dream Team comprised of hand-selected experts providing valuable tools and services that are an integral part of a product launch.

Together, with their expertise and her product creation expertise, her team insures their clients’ goals are met. And because of their JV relationship they each benefit financially from one another’s referrals.

Terra has used a rocket ship as a logo for her Dream Launch Academy. It’s not surprising when you consider her background:

“My dad was a member of the moon launch mission team. He recently told me there were moments when they had NO idea how they were going to fulfill on the President’s vision. There were times when they were making it up as they went along as there were no instructions to follow. However, to successfully fulfill on that dream it took a team of experts to place a human being in space, land on the moon, and bring them back successfully.”

“Your product launch is very much like your own private Moon launch. Surround yourself with a team of experts to launch your dream.”