Charles Byrd

Editor:

Welcome. This time around we're chatting with Charles Byrd, a super connector speaker and joint venture expert who thrives on helping entrepreneurs create dependable revenue streams without the stress of paid advertising. Charles combines his Silicon Valley background with a unique expertise in joint ventures to ensure profitable partnerships, and today he joins us to share his insights on building successful business relationships and generating impactful revenue. Charles, thank you for joining us.

Charles Byrd:

Thank you so much for having me. It's a pleasure to be here.

Editor:

Well, maybe we could start by asking about your journey from Silicon Valley to becoming a joint venture expert.

Charles Byrd:

Sure. So where that's led to, and then I'll tell the backstory. I help businesses scale with joint ventures speaking and systematic referrals to get you in front of more of your ideal clients leveraging other people's audiences. And so how that began, as you noted, I worked in the Silicon Valley for 15 years, was a director at a billion dollar software company, left to get a taste of the entrepreneurial freedom I read about in books, started with a low ticket productivity course as my first product and being new to the online space, didn't yet have a list or connections. So started going to a lot of events and connecting with people online and quickly found my new peer group of entrepreneurs already had my ideal clients in their communities. So started setting up presentations to other people's audiences, delivering a high value training and offering the deeper dive course and started growing the lists, making sales, making a positive impact.

Charles Byrd:

So I thought, since this is working, what if I take my IT and systems background to simplify and systematize the entire joy venture process, which I did. And eventually people wondered how I book two to six joint venture promotions per week for my offers to other people's audiences. And I was at a mastermind in Aspen and my phone's blowing up with texts and Messenger messages, people knocking on the room door going, "How do you line up so many of these deals?" So I decided to put together my first high ticket event called Pure JV, and that's the market I've been serving ever since. At this point, through an eight-week consulting offer that walks companies through helping you create your unique joint venture strategy for your particular product and market, helps you identify your most profitable partners, communities, stages, referral partners, shows you how to connect to those partners through warm channels so there's no cold outreach.

Charles Byrd:

My favourite part, how to guide the conversations to land the deals frequently on the first call, operationally how to execute the deals along with turning each one into two or three more. I've had 12 clients who've added 1.25 to 12 million in additional revenue for clients on stage with Tony Robbins so far this year, one that just got booked on Joe Rogan, Alex Hermozi's a client through one of his acquisition.com companies who just joined me at a 50% event I just hosted in Austin. Tony Robbins CEO is in our sales pipeline as is go high level and click funnels. So it's a framework for just building great relationships with people, providing value first and guiding those directly into winning outcomes.

Editor:

And when did you start doing this, Charles? How long ago was it when you made the leap from Silicon Valley into entrepreneurship?

Charles Byrd:

That was nine years ago and it was kind of a bigger decision to decide to not go get another corporate job, but instead start my own thing, and I'm looking for it on my desk here, I had a piece of wood made when I committed to starting the business that says, "I can, I will. End of story," meaning burn the boats, figure it out. And I found that to be pretty key because if you're walking a line between two paths, you'll probably fail at both of them. But if you just commit to one, the path forms right in front of you because you have directed your attention, money, thought, energy, passions towards something, and as people see where you're going, they dive into support you.

Editor:

Did you find when you first made that leap that maybe some of those people around you who love you and support you maybe were slightly sceptical? Or did they join you on that journey?

Charles Byrd:

A little of both. A little of both. I had countless conversations with my dad who is trying to get me to go back into a corporate job and I was like, "Nope." The conversation with my wife was much easier, thankfully. I said, "Babe, I'm thinking to just start a company and figure out something new instead of getting another job." And she's like, "Awesome, babe, you can do it." I was like, "Okay." That was that. Because I've had other friends whose wives were not supportive and they're still stuck at a job they hate because they didn't have the support or gumption to take that risk on their own.

Charles Byrd:

What's funny is it's actually way less of a risk than staying in a job where you have no control if they're going to lay you off the next round of layoffs, where as an entrepreneur, and yes, there's places on the way where the road can have bumps in it, but once you have a product and service or service that people want and need, you're actually diversifying your revenue across a whole range of clients, putting you in a dramatically safer position than you would be getting your paycheck from one place. It's the equivalent of people in the online space only paying for Facebook ads and any algorithm change, any problem with an account, something gets hacked, they make an ad that doesn't work right, and the whole thing gets shut down. They're not diversified. Where it's through partnerships, each new partner you're bringing on adds to your lead flow volume, you have a higher conversion, you're only paying based on actual results and you're diversified across partners. Each partner is an independent lead source putting you in a lot safer position.

Editor:

Can I just ask about your background in Silicon Valley? And I guess that's inherently risky anyway. There's a lot of money that gets pumped into a lot of businesses. Some, of course, skyrocket, they become the famous unicorns, but some crash and burn. So when you're talking about risk, is that what you meant? You want to step away from the boom or the bust kind of opportunities that Silicon Valley can sometimes present?

Charles Byrd:

Well, it's more that people have the illusion that working for one of those big companies is safer than starting their own company. But the fact is, it's not. Anytime they feel like doing a reorg or a layoff, you have zero control over that. And when all your income, basically all your eggs are in one basket and you're not the one steering the ship. Whereas an entrepreneur, like I typically have 15 plus high ticket clients at a time, if not more. My revenue is diversified across a whole range of sources. So you're in a lot safer position. Now, granted, you need to get the product market fit, you need to have an offer that converts. There's hurdles on the way.

Charles Byrd:

But when you commit to the path, you test, you refine, you work on things, you get people results and then keep iterating, then you are in a lovely position to diversify your leads and revenue thereby putting you in a much safer position than you would be in a corporate job while giving you astoundingly more freedom to work where you want with who you want and how you want, of course, based on your model. But ideally, you're engineering a model that fits around your core goals to begin with.

Editor:

I think one of the key takeaways as well is the fact that by having those multiple clients, those multiple revenue streams if you like, that if any one of those disappears at any one time, it doesn't mean that you can't put food on the table at the end of the week. You've still got the other people that you're joint venturing with. Why did you go for joint ventures specifically, Charles? Was it because of that security?

Charles Byrd:

Well, I just saw that opportunity very early. The first back-to-back industry events, it's like online industry events that I attended, my first product was almost done. It wasn't fully complete, but probably 85% done. And I was like, "When I get this course done, who am I going to offer this to?" I, at the time, had no list, no community, you're just brand new in the space. And the second event I ever went to, which they were a week apart, it was at a mastermind with about 12 entrepreneurs, gorgeous resort in Austin.

Charles Byrd:

And I'm sitting across the table and the guy on the other side, he has 186,000 subscribers to his thing. And the gentleman over here has this whole event where he's matching up all these big players to connect and collaborate and this person with six different businesses in these different markets. I'm like, "Why don't I just go make friends with the guy who already has my ideal clients in his community right now? He already built that whole community. I have a tonne of value to share with a community like that. So why not go talk through where there's positive synergies and offer a way to provide those people value while monetizing for both parties, so it's taking better care of their client base while giving them a revenue stream with zero fulfilment. So it's pure profit for promoting and also being a feeder to grow my business, my list and positive impact with the people I was able to work with."

Charles Byrd:

So I kind of had the decision all of us have when it comes to lead sources, you can either pay for traffic, which I didn't have a clue how to do and didn't feel inspired to learn that or hire it out. You can do content marketing, which does work, but it typically takes about a year of consistent posting and things like that to build that following and gain the traction or just go make friends with the person with a 200,000 person list where they promote you two or three weeks later, you add thousands to your email list, add a bunch of clients. It just seemed like by far the most efficient way to go about it.

Editor:

You often talk about creating value first relationships. Maybe you could just explain a little bit about what that means and also how it applies to joint ventures.

Charles Byrd:

Sure. So value first relationships mean as you interact with basically anybody, certainly people that could be ideal partners or clients, human nature comes in and kind of asks, "What's in it for me?" And this is the opposite where when you meet people, you listen to what they are trying to achieve and accomplish and provide avenues to help facilitate that. Ideally, things that are relatively quick for you to provide. Some examples of that and some of my go-to ways of doing that is listening to someone who their ideal client is or ideal partners, and then offering connections to those folks. So just as an example, I get 12 to 20 referrals a week to million dollar plus businesses. The call I just got off right before this happened to be an intro to a gentleman running a nonprofit. Now, where he's at in that launch of a brand new nonprofit doesn't align very well with how I serve folks, but I simply listened to what he's up to and teed up a connection that can get him funding and access to all kinds of businesses that would be interested in tapping into what he's doing.

Charles Byrd:

Now, if he was doing something that also aligned with the way I serve and support, I would provide that same value that I just did on the last call and I would guide it into another winning outcome, whether that's lining up a JV, a speaking opportunity, a referral partnership, or potentially they'd be a great fit for a client and then I invite them down that path. So value first simply means wherever you go, you're seeking to provide value to people regardless of what the outcome is on the other side because it creates this whole wake of goodwill in front of you where every room you walk in, people are happy to see you because you've hooked them up in all kinds of ways over time, and you're never asking for anything in return. But things flood back in return because of just how you show up in the world and people knowing you're genuinely on their team and care about their goals.

Editor:

And I guess the laws of reciprocity do kick in in that situation as well. Maybe, Charles, if anybody listening to this or reading this who is inspired by what you're saying, maybe you could just quickly walk us through the basic steps of setting up a successful joint venture campaign.

Charles Byrd:

Sure. So there's four primary types of joint ventures, and those include presenting to other people's audiences. Those could be coming into high level groups delivering a high value training like High Ticket Masterminds or inside of other people's high ticket fulfilment programmes. Another part of presenting to other people's groups could be a webinar where one party's doing a mailing to their list, you're coming in and delivering a webinar. Usually in that context, you're making a direct offer on the session. The next type of JVs are referral partnerships. So most of us get referrals, but I call them referrals by luck, meaning you're not controlling the volume or quality of those referrals where when you systematise it and you're doing it very consciously with some very handpicked high quality referral partners, that becomes a type of joint venture where you're actively managing and very much in control over the volume and quality of handpicked warm intros you're getting.

Charles Byrd:

Then there are embedded partnerships. This is where your product services or messaging are inside of other people's offers. So imagine an offer where someone's buying, let's say a book publishing package and someone else who has a podcast production offer is embedded inside it. So someone's buying a book publishing and podcast offer because one offer is embedded in another. When done correctly, those are my favourite kinds of JVs and the very ones that make many of my clients tens of millions of dollars over time because it's a single deal that's made that represents ongoing lead flow.

Charles Byrd:

And then there's social JVs. Simply, things like podcasts and interviews much like this one where in my view the listener's sharing the message is great. The real value is connecting with the hosts or guests to take those relationships a lot deeper and turn those into joint ventures, referral partnerships, speaking opportunities, and or leverage for client acquisition where appropriate.

Editor:

And once you've done that, Charles, I mean, how easy or difficult do you find it to maintain or nurture those relationships with your joint venture partners? Because I know a lot of people look at JVs almost as a transactional thing. You're saying actually should go and must go much deeper than that.

Charles Byrd:

Absolutely. I don't like transactional JVs. I know there's whole segments of the JV world that that's just how they operate. I go about it very differently and guide my clients too, which ends up working out quite well for them. Where you're building strong relationships with your partners, you're looking out for them, you're engineering the transference of trust and authority and integration across customer journeys and things like that where there still always is a value exchange, but it's not the annoying I'll send this many clicks if you send that many clicks. I find that world very lame. It's not a satisfying way to live life. I'd far prefer having five to 10 ultra high quality friends and partners where we're all looking out for each other and teeing up amazing things because you end up going way further. When something feels transactional, it's just far less satisfying and doesn't have longevity that goes with it. It's not to say that will never happen, but it is kind of the opposite of how I guide people to do it.

Charles Byrd:

As far as maintaining relationships over time, there's something I call the power of the ping. And that is, well, I'll tell a brief story about it. So I was at an event several years ago with a friend of mine and we were hanging out for two and a half hours talking. And as the conversation was winding down, he's like, "Hey, if I ever come to mind, just ping me." And it struck me as so strange. What if you're having dinner with your kids? Or what if you're delivering a webinar or a training? And then I was like, "Well, screw it. I'll just do that with everyone," because if something reminds you of someone, that's typically enough reason to ping them, maybe you just talk to one of their good friends. Maybe you just booked a flight to a city they live in. Maybe you just got a new piece of technology you know they would be super into. That's enough reason to just check in and say hi.

Charles Byrd:

In fact, when I was doing a fireside chat last week at my flow event in Austin with Robin Alex co-founder of Go HighLevel, he was like, "Some people will send you these extravagant gifts and unique things." And he's like, "It doesn't mean as much as someone just pinging you to check in and say hi and see how you're doing." One is far more authentic. Point being, by being proactively in touch it keeps you top of mind. You're looking out for ways to serve and support over time, which means you're not just showing up in their texts or inbox when you need something. Instead, you've been there for them the whole way. And by being top of mind, it creates all kinds of opportunities.

Charles Byrd:

As an example, my friend and client, Kane Minkus, who I've helped generate $12 million through joint ventures, he's super into tech and he has a Zoomzilla wall like Tony and all of that. And I got a new full frame camera and I was sending him a video. I'm like, "Dude, check out my new Sony." And he's like, "Cool Sony. Hey, would you like to be part of a JV with me, Kevin Harrington, John Assaraf?" I'm like, "Hell yeah, I would." Now, I didn't ping him about that. I had no idea he was doing that. But by just being a friend and being top of mind, it creates all kinds of opportunities and synergies from it.

Editor:

It's the old phrase, isn't it, that your network is your net worth in many ways.

Charles Byrd:

Yeah, it's a fact.

Editor:

And Charles, how would you say that you would measure the success of a joint venture? What metrics should we be looking out for?

Charles Byrd:

Well, we'll go a little beyond metrics. For one, just how it is to work with them, to enjoy working with them, how did your audience and product fit? How did those things align? How was conversion, of course, because you want to make sure that JVs you're putting time and effort are actually doing what they're intended to. And in the world of joint ventures, the AD20 rule is very much in effect. So that's 80% of the revenue coming from 20% of the JVs. So I think it's a combination of how you enjoy working with a company, a team, a founder, audience alignment and conversion, of course.

Charles Byrd:

And so I like doing one-off types of promotions or engagements with someone to see how it clicks and works. And the ones that do really well, those are the ones to dig deeper and turn into stronger embedded partnerships. So yeah, it's the relationship working together and then the financial results along with the results that the client base are actually getting. That's of course a key part of it.

Editor:

Yeah, that makes absolute sense. I could talk with you for hours, Charles. But finally, for our listeners and readers who want to learn more about you and engage with your services, where can they find you and what resources could you offer?

Charles Byrd:

Sure. You can pop over to CharlesByrd.com, B-Y-R-D. That gives more information on the kind of work we support folks with to create a core joint venture strategy, identify your most profitable partners, communities, stages, referral partners, and basically get you up and going. So this is for people with existing products or services. You're known for what you do, your offers are already converting and you're looking to really ramp up your leads through partnerships. So yeah, CharlesByrd.com.

Charles Byrd:

And we also have a high-end lead flow mastermind group called Flow, and that website is flowmastermind.us as in us. So those would be the two pathways. One exploring, supporting you to grow and scale through partnerships and the other, a whole community. 95% of those folks have worked with me one-on-one anyway. So it's a whole community of people trained to think in that value first mindset. They're trained in JVs, referrals, and all running seven-figure plus companies.

Editor:

That's amazing. Well, thank you for sharing so many insights and background information with us today. Really appreciate your time. Once again, Charles Byrd, thank you.

Charles Byrd:

My pleasure. Thanks so much for having me.