Profit in Partnership: Create Awesome Joint Venture Relationships for Exponential Growth

Welcome to Your Business, Accelerated! Digitally remastered with AI, Your Business, Accelerated! is the go-to podcast for entrepreneurs ready to scale smart. Hosted by Attorney Shaune B. Arnold, it delivers strategic business insights, legal frameworks, and real-world solutions to help you operate with clarity and confidence. Get actionable guidance to protect, grow, and optimize your business…one smart move at a time.

Want more clients, more reach, and less hustle? Attorney Shaune reveals how to create joint ventures that fast-track growth. From referral fees to co-branded offerings, learn how to collaborate smart, avoid liability traps, and leverage synergy with partners who amplify your strengths. Real strategies. Real stories. Real results. 

Transcript

Hello, everyone! And welcome …once again. Welcome to Your Business, Accelerated. I am your host, Attorney Shaune Arnold, reminding you as always to maximize your competence to get the confidence you need to succeed.

I am your California business attorney. I practice in Los Angeles, the city of the angels. I love it here. I have been your business strategist for 40 years and have practiced law for 30 of those 40 years ...all right here in LA. I seriously have the traffic-induced white hairs to prove it.

Every week, here on Your Business Accelerated we visit different topics of law and business that may impact your enterprise. For this reason, I want you to recall that I am a California business attorney. When we talk about the law, I’m always speaking from that perspective. If you live in another state, another country, …or ...just another state of mind, …you should take this conversation to an attorney where you live to ensure you are getting the local legal perspective on how to run your business.

Tonight, I am excited to talk to you about the ins and outs of forging joint venture relationships in the marketplace. A lot of people are interested in positioning themselves in the marketplace. They can get instant clientele and market share by joining forces with other people that already have databases of clients. If you're just starting in business that's a really great way for you to go. Find somebody whose skills are complimentary to your own. You have different lanes and what you each do fits together. It makes sense for you to work together.

And we're going to dig into that really deeply, considering using joint ventures with powerful strategies to gain instant customers and to produce wealth. Well, I got some questions on that from some clients and some people who attended the webinar series, they wanted me to dig in just a little bit deeper. They they want to know how to make those JVs happen.

If you have a question like that, drop it into the comment box below. 

Tonight, we'll discuss my client, Candace. She asked me what a joint venture relationship looks like from an operations perspective. There are a couple of ways businesses can come together to do business. 

The simplest form of joint venture relationship is a simple referral relationship. Here, you pay your joint venture partner a finder's fee for sending you new customers. This can be as simple as giving them 50 bucks for a new client. You will get that from your internet/cable provider or your bank. They may give you a larger incentive, like a free month of their service, or a gift credit card for you referring your friends to their company. That is actually, believe it or not, a joint venture relationship, where you are giving a referral and you're getting a finder's fee in return.

My suggestion is that if you're going to enter into joint venture relationships, you really want to consider getting a percentage, because you don't know, I mean, unless the percentage is, like, less than 50 bucks or something like that. No, you really want to do the numbers to discover whether a flat fee or whether a percentage would be better for you in the long run. 

One caveat ...make sure that you're able to split fees with people. I'm an attorney, and I cannot split attorneys fees with non-attorney people. It's unfortunate, but it's true. I can give a referral fee for attorney business to an attorney, but I cannot give it to anybody else. The State Bar of California considers that tantamount to the referral fee receiver practicing law without a license - because the money they receive is from a client paying legal fees. You have to consider that and be very clear on whether you're doing something that's going to get one of you into trouble. 

Another type of joint venture relationship that I'd love for you to be aware of is a co-development project where you each participate in developing and promoting some new idea or some product or service. I work very closely with Les Brown, the master motivational speaker, and he and I do workshops. As a matter of fact, he helped me kick off the Los Angeles Table Talk tour. He joined me at Pit Fire Pizza, and we offered a workshop together. 

Now, the workshops that I do with him and the audio products that we create are all joint venture relationships. He has Les Brown Enterprises and I run Platinum Tower LLC. We both operate our own companies, but we come together to do the joint venture workshops. 

I have another business partner that I work closely with. His name is Vernon Webb. Our business is MindMastery Accelerator. You can see what we are doing together over at MindMasteryAccelerator.com. This is another relationship where we conduct workshops. However, with Vernon I'm able to provide true transformations for our clients.

Vernon is an Executive Coach. His training in the Silva Method of Dynamic Meditation is at the heart of his practice. The Silva Mind Control program is well known in more than 100 countries. Vernon was trained by none other than Jose Silva himself, and was mentored by Burt Goldman, Jose Silva's Global Ambassador. As a result of his work with Jose and Burt, Vernon was named by the Institute of Phychorientology, the training organization for the Silva System of Dynamic Meditation, as one of the top speakers and trainerss in the country. 

Now, as you know, for more than 12 years I've taught neurolinguistic programming. NLP is the study of human excellence. It is the study of the relationship between and among our thoughts (neuro); our conversation, to ourselves and to others (linguistic) and the programming contained in our unconscious mind (programming).

Vernon and I have combined NLP and Silva Mind Control Method, two of the most powerful transformational technologies known to man. These neurstrategic techniques will help you create lasting change in your business and in your personal life. We offer workshops and one-on-one coaching to help you perform at your best.

I have yet another partnership that operates quite differently from the other two. I am Managing Partner of FINNEY ARNOLD LLP, a law firm. Specializing in corporate transactions, we also do a lot of California Environmental Quality Act or sequa litigation. In this business, my partner and I do fairly different things. He's more of a political guy and I'm a transaction wonk. I LOVE drafting contracts, etc. I don't love research and writing briefs, but I do it because it pays the bills. 

That's not really his lane. He's more a a deal maker. He brings in a lot of business so it makes up for me being the one sitting at the computer making it happen. You see, our skills complement one another. That's why we've been able to be in business together for literally two decades.

I invite you to consider who out there has a complimentary business or skills to yours. If you are an attorney, maybe you want to join forces with a CPA or a real estate professional. Be creative. What clients would you like to work with? Find a business whose clients need your goods or services and you've got instant market share!

To figure out who your best joint venture partner may be, consider the pain that your potential customer is having. Find out who they might also be going to, either to solve that particular pain, or to solve another pain. Join forces with that other professional to provide a package deal that is going to give your clients a broader scope of pain relief. That will give you a real edge in the marketplace. 

I encourage you to get those co development deals going with other professionals, not necessarily in your industry, but also in complimentary industries. Les Brown is a motivational speaker. I am an attorney, corporate trainer and business strategist. They sound very different. However, there is a very large emotional and mental component that stops a lot of entrepreneurs from building their business. 

The last type of joint venture relationship I want you to be aware of this evening is a shared effort to build a side business or a profit center where both of you provide a service, where you are strong. For example, if one of you is strong in writing marketing materials and the other one is strong in launching a website or running internet affiliate programs, then that would be an ideal joint venture partner, somebody that is strong where you are less strong. 

Here's an example. I work with a woman named Mary Lamborn. She is a cash flow strategist, and if you want to know whether your napkin idea is an idea that can sustain a business, or whether it's just a hobby, then you want to talk with Mary Lamborn. She and I work together, we create business plans for people. I do the market, industry and customer research and draft the business plan. 

Mary does the cash flow strategy. She does all of the numbers at the back. And you know, it's the numbers that are really going to attract your investors or send them scurrying into the bushes. Frankly, Mary makes me look good. All of my various business partners make me look good ...and help me work less to serve more people than I can do alone. 

So find those synergistic companies that already sell a product or service that's complimentary to yours, and then offer them a package. Offer them something that's going to get you both customers in the marketplace.

Ladies and gentlemen, I'm so glad that you joined me this evening, on Your Business, Accelerated! If you have a question or comment about how joint ventures can impact your business, drop it in the comment section below. I'd love to get to know you better.

I invite you to follow me on Facebook, LinkedIn and TwitterX. My name in each of those places is S.H.A.U.N.E. Arnold. Until next week, I’m Attorney Shaune Arnold reminding you, …as always, …to maximize your COMPETENCE to get the CONFIDENCE YOU NEED to succeed.

I'll see you next week right here on Your Business, Accelerated. Bye-bye, friends!