Do you want to know the ten-step framework to actually form meaningful and sustainable partnerships and alliances in a coaching business? This podcast is for you.
Join my Diamond Certification to become a partner - https://sidz.co/diamond
In this episode, you'll learn:
- The critical role partnerships play in the success of your coaching business.
- The importance of aligning values and ethics with potential partners.
- How to shift from a profit-focused mindset to an impact-focused one.
- Building trust as the foundation of successful partnerships.
- 10 actionable steps to effectively build alliances and partnerships, including defining your value system, developing your product, identifying potential partners, and more.
- The win-win-win approach to designing partnership initiatives.
- The value of forming deeper alliances with established ecosystems.
- How to define roles and goals with your partners.
- The importance of keeping accounting clean and transparent.
- Cultivating a long-term mindset and seamless processes for sustainable partnerships.
Don't miss out on these invaluable insights into scaling your coaching business through successful alliances and partnerships. Subscribe on Apple and Spotify to stay updated with our podcast series!
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Speaker 1: The ultimate strategy to grow a knowledge business is to
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Speaker 1: form alliances and partnerships with people who align with your
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Speaker 1: values and your vision.
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Speaker 1: And in this podcast, I want to break it down
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Speaker 1: and tell you exactly how I have been able to
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Speaker 1: do it. If you're able to crack this code, you
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Speaker 1: will be able to reduce your customer acquisition costs and
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Speaker 1: you'll be able to also accelerate your growth much faster
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Speaker 1: than ever. And in this podcast, I'm going to be
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Speaker 1: sharing with you on how you can build alliances and
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Speaker 1: partnerships to scale a coaching business and also to make
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Speaker 1: it sustainable.
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Speaker 1: Now, what I want to share with you is that
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Speaker 1: partnerships can either make you or break you in your
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Speaker 1: coaching business. And the first thing I want to share
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Speaker 1: with you with all of you is that your reputation
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Speaker 1: is at stake and it is on the line
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Speaker 1: depending on who you partner with. Now, if your partnership
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Speaker 1: is coming with, you're going to be doing a partnership,
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Speaker 1: somebody just for the sake of making some extra money
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Speaker 1: and you come to know later that that particular person
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Speaker 1: is not having the right values and ethics that can
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Speaker 1: fall flat and that can hit you back in a
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Speaker 1: very big way. So you got to be very clear
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Speaker 1: before you even get into a partnership, whether you really
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Speaker 1: want to do it with that particular person or not
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Speaker 1: by understanding and evaluating that particular person.
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Speaker 1: In other words, never make decisions just to make more money, ok?
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Speaker 1: Never make a decision just to make money. It has
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Speaker 1: to start, the partnership has to start with the focus
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Speaker 1: on helping others win.
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Speaker 1: Never start a partnership with a profit focused mindset rather
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Speaker 1: should be an impact focused mindset for it to make
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Speaker 1: it sustainable.
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Speaker 1: And the best person to do business with is ideally
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Speaker 1: somebody that you do not have to have, that you
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Speaker 1: do not have to sign a contract with. I mean,
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Speaker 1: it's all about the trust, right? This I learned from
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Speaker 1: my mentor Surin and who's a founder of success. He
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Speaker 1: said the best person that he likes to do business
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Speaker 1: with is somebody that he does not have to sign
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Speaker 1: a contract with. And that is a BLL bond for
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Speaker 1: me because if you have that kind of a trust
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Speaker 1: with somebody that's the ideal person. But if you're going
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Speaker 1: to do N Ds in the beginning itself, you start
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Speaker 1: off like that, that that means there is no trust
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Speaker 1: right in the beginning itself.
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Speaker 1: So before you build an alliance or a partner in
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Speaker 1: a coaching business, you got to first understand that person
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Speaker 1: and trust the other person, it should be mutual because
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Speaker 1: trust is the is the currency. So having said that
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Speaker 1: I'm gonna give you the 10 ways on how you
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Speaker 1: can do this. First step is you got to define
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Speaker 1: your own value system.
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Speaker 1: What do you stand for? What you don't stand for?
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Speaker 1: What are you uh what is your vision? What are
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Speaker 1: you aiming towards? So when you get clarity in your
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Speaker 1: own value system, you will be able to see if
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Speaker 1: your potential partner has a similar value system or not
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Speaker 1: because only when you match in values, will you be
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Speaker 1: able to truly make a difference in that partnership?
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Speaker 1: The second step is that you got to develop your
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Speaker 1: product to an extent that your customers are getting damn
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Speaker 1: good results, especially in a coaching business. If you're building communities,
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Speaker 1: if your students are getting very good results and the
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Speaker 1: customer experience is really good, then it becomes a very
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Speaker 1: good
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Speaker 1: selling point for your potential partner to promote you. Because
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Speaker 1: let's say if a partner promotes you and if they
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Speaker 1: get a lot of negative feedback, saying that the person
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Speaker 1: that you referred me is not really up to, the
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Speaker 1: mark is going to look bad on his side or
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Speaker 1: her side, right? So before you get into any partnership,
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Speaker 1: make sure that your house is in order and develop
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Speaker 1: your product to an extent that your customers are getting
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Speaker 1: great results.
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Speaker 1: Step. Number three, while growing your influence,
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Speaker 1: identity, identify potential partners, you can sync with. Now as
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Speaker 1: you're building a product as you are gaining customers, you
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Speaker 1: will start to observe that there are some micro influencers
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Speaker 1: or mega influences that you would, you could potentially partner
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Speaker 1: with and you can sync up with and start to
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Speaker 1: make a list of their names and start to do
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Speaker 1: a research on them on exactly who they are. What
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Speaker 1: are they doing and things like that and not everybody
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Speaker 1: will want to partner with you. But for you to
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Speaker 1: even go into a partnership, you have to have you
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Speaker 1: need to be at a particular influence level.
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Speaker 1: Ok? Unless you're in the life cell hub and you're
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Speaker 1: a part of my diamond membership and I'm facilitating collaborations
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Speaker 1: and stuff. It's going to be very hard for you
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Speaker 1: to find partners on your own because out there everybody
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Speaker 1: is busy doing their own thing.
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Speaker 1: Step number four is start a partner program first but
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Speaker 1: only open it up to your premium customers, not to everybody.
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Speaker 1: So let's say you have a low ticket product and
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Speaker 1: a high ticket product. Open the partner program only to
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Speaker 1: your high ticket members. Like for example, my diamond membership.
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Speaker 1: If you want to know more about that in the link,
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Speaker 1: there's a link in the description, please go and check
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Speaker 1: out my next uh be there for my next diamond showcase.
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Speaker 1: I'll tell you more about it where I give 35%
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Speaker 1: commissions to my diamond members uh who are, you know,
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Speaker 1: who are referring me to their family, friends and their
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Speaker 1: other groups.
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Speaker 1: So I've started my partner program only for my level
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Speaker 1: three customers, which are my diamond members. And when you
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Speaker 1: do that, when you open it up, only to your
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Speaker 1: premium customers, what will happen is you'll be able to
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Speaker 1: closely work with them and they'll be able to get
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Speaker 1: you quality leads and quality referrals,
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Speaker 1: not just some junk leads and some random stuff that's happening.
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Speaker 1: So that's step number four, step number five is then
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Speaker 1: look at influencers
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Speaker 1: and uh other experts who have a big influence who
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Speaker 1: match with your vision and values
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Speaker 1: and start opening up conversations with them. For example, right
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Speaker 1: from the beginning, I'm a student of success and I have,
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Speaker 1: I've partnered with success, internet lifestyle ha we work on
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Speaker 1: multiple projects together. Yeah, I've also partnered with my mentor,
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Speaker 1: blessing at the Academy and three of us have been
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Speaker 1: doing multiple events together.
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Speaker 1: And recently I've also partnered with Tag Mango and I've
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Speaker 1: had many other vendors and partners that I keep referring
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Speaker 1: people to. And we have a very good arrangement in
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Speaker 1: terms of a referral model or an affiliate model or a,
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Speaker 1: you know, revenue share model or a commission based model.
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Speaker 1: And I have set this up, you know, strategically over
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Speaker 1: the last five years after looking at people who align
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Speaker 1: in values and vision
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Speaker 1: step. Number six is when you are going to be
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Speaker 1: getting into a partnership reliance, always think win, win, win.
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Speaker 1: That means first is the student or the customer needs
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Speaker 1: to win? Second, your partner needs to win and third,
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Speaker 1: you need to win. Ok?
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Speaker 1: So when you are designing a whole initiative for partnerships,
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Speaker 1: don't think about you winning first. Rather think about how
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Speaker 1: the end user can win first. And then the second
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Speaker 1: is where your partner can win and then you will,
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Speaker 1: should automatically win. That's how actually I've designed you my
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Speaker 1: partner programs and you know, I'm working with tag bank
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Speaker 1: or many others. I'm always thinking about my customers first
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Speaker 1: and then I'm thinking about the partner. And finally, I'm
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Speaker 1: thinking about myself. OK? So if you're able to keep
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Speaker 1: this as your metric or your benchmark or your uh
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Speaker 1: your guidance factor, you'll be able to much better carry
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Speaker 1: for the partnership.
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Speaker 1: Step number seven is form deeper alliances with other ecosystems.
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Speaker 1: Now, what do I mean by an ecosystem? An ecosystem
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Speaker 1: is something that is a well oiled machine that is
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Speaker 1: running and that is providing results for a very long time.
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Speaker 1: For example, I have bridged my entire community along with success.
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Speaker 1: G because G is an ecosystem blessing at training academy
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Speaker 1: is an ecosystem where my mentor Blair is his training
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Speaker 1: and he's got his own process. And the three of
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Speaker 1: these ecosystems are kind of fused in what we are doing.
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Speaker 1: So people who come into international hub, they go to
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Speaker 1: Millionaire mind intensive and they go through all the events
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Speaker 1: and other trainers and they also go through blessing as
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Speaker 1: BS T A certification, gold certification, diamond certification, and you know, trainer,
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Speaker 1: master program and other programs. And they're also part of
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Speaker 1: my diamond membership. So this combination of these three is
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Speaker 1: what creates that magic
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Speaker 1: and we are very complimentary in what is happening and
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Speaker 1: it's a mutual uh you know, there's a mutual benefit
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Speaker 1: for each other and same with Tag Mango. Also, Tag
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Speaker 1: Mango is a technology platform wing that I'm closely associated
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Speaker 1: with where I'm helping them build their product for my users,
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Speaker 1: for my students.
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Speaker 1: And they're also benefiting where I'm referring more users to them.
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Speaker 1: And I'm also benefiting because people who use their product
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Speaker 1: are able to get faster results and trying things by
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Speaker 1: using other tools.
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Speaker 1: So that is step number seven. Now, step number eight
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Speaker 1: is once you have identified these partners define the roles
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Speaker 1: and goals with your partners. And this is what I've
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Speaker 1: done even with every partner, whether it's success or BS
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Speaker 1: T or Tag Mango or the three names I'm just sharing,
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Speaker 1: but I have many other people that I work with.
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Speaker 1: I make it sure I make it clear that OK,
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Speaker 1: we are for this quarter or this year, we want
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Speaker 1: to hit these numbers, you know, and how are we
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Speaker 1: going to be helping each other?
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Speaker 1: And that's what takes the game to a whole different
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Speaker 1: level step. Number nine is very important. Keep all your
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Speaker 1: accounting pristine clean with a monthly netting of your revenues
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Speaker 1: or the payouts or what would that needs to happen
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Speaker 1: for me? The first week of every month? I have
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Speaker 1: a process where I look at what is due from
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Speaker 1: me to my partner. What is due from my partner
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Speaker 1: to me, we just net it out and what was
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Speaker 1: the difference? We just clear out the invoices and just,
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Speaker 1: you know, make sure that it's a seamless process.
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Speaker 1: And finally, step number 10 is grow your partnership
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Speaker 1: with a long term mindset and make it into a
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Speaker 1: seamless process that runs like like clockwork. OK? Make sure
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Speaker 1: that you're open to feedback so that you know, each
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Speaker 1: of your partners can help you, you know, improve, you
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Speaker 1: can also share details with your partners on how they
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Speaker 1: can improve.
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Speaker 1: And this mutual kind of a
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Speaker 1: a collaborative mindset is what's gonna help take the partnership forward.
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Speaker 1: So I hope you got all the 10 points. Now,
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Speaker 1: if you're already a part of the internal life cell hub,
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Speaker 1: I would highly recommend that you upgrade to diamond and
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Speaker 1: to learn how I actually run my partner program because
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Speaker 1: I have a course that is dedicated called Freedom Partner Academy.
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Speaker 1: There are most many people out there in the market
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Speaker 1: who are launching like a, a programs and, or multilevel
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Speaker 1: programs and it really is messing up the entire market
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Speaker 1: where people are not able to do it the right way.
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Speaker 1: And I will teach you how to do the right
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Speaker 1: way by incorporating value system code of honor and multiple
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Speaker 1: other things. OK. So if you're already in the community,
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Speaker 1: please attend my Diamond. If you're not in my community,
00:09:39
Speaker 1: go to internet life cell hub.com and join my community
00:09:42
Speaker 1: or attend my next web not to make it happen.
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Speaker 1: Thank you so much for listening to this podcast. I'm
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Speaker 1: currently on day number 27 of my 90 day challenge.
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Speaker 1: And I'm so glad I've been able to go consistently
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Speaker 1: on this and I, and I hope I can finish
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Speaker 1: all the 90 days. So subscribe to my podcast on
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Speaker 1: Apple and Spotify and Catch you in the next episode.