From $50 to $50,000: Marc Mawhinney's Journey to Profitable Flat Fee Joint Ventures

Joint ventures are commonly structured as affiliate partnerships - you promote my offer, I pay you a cut of any sales.?

But entrepreneur Marc Mawhinney employs a refreshingly different model: the flat fee joint venture. I recently spoke with Marc in our Steal Our Winners episode, to understand the origins and mechanics behind his unique approach.

As Marc recounted, the idea for a flat fee structure was born when a joint venture he had invested heavily in delivered underwhelming results. Despite being assured he would pocket tens of thousands in commissions, Marc ended up with less than $50 in affiliate payments. Though disappointed, this experience motivated Marc to forge his own path. He decided then and there to implement a flat rate model for future partnerships.

In Marc's flat fee joint ventures, he charges a fixed dollar amount upfront while allowing partners to keep 100% of any sales generated. By eliminating conditional affiliate payments, Marc's model provides more reliability and predictability for both parties. And for Marc specifically, specifying his fees upfront filters out any potential partners only interested in kicking tires. This saves him over 100 hours per year previously spent on exploratory sales calls.

Marc's joint venture offerings typically include 7 days of promotion across the assets in his coaching business. This includes sending broadcast emails to his list, social media posts, Facebook Live interviews, and dedicated airtime on his popular business podcast which attracts nearly 1 million downloads annually. Marc drives all this traffic to a lead capture page or webinar registration for his JV partner's offer.

In terms of pricing, Marc's base package is currently $4,000. He also provides smaller "mini" JV packages for $2,000 over 3 days, as well as an exclusive $40,000 "Super JV" package which includes year-round visibility like podcast mid-roll ads and banner placements. Partners only pay Marc's flat fee upfront and retain all revenue generated thereafter.

Of course, Marc carefully vets potential partners rather than accepting all comers. Offers promoted must resonate with his audience of coaches and service providers. He also avoids promoting back-to-back offers that are too similar. This quality control ensures Marc's endorsements maintain their impact.

For business owners seeking more reliable partnerships, Marc's flat fee joint venture model warrants a closer look. While still requiring effort to execute well, the approach offers simplicity and guarantees unavailable with traditional affiliate structures. If certainty sounds better than crossing your fingers for backend commissions, perhaps it's time to flat fee your next JV.

Watch more of this free Steal Our Winners episode here!

Have you considered implementing a flat fee model before? What opportunities or challenges do you see with this approach? Share your perspective in the comments below!