Hill defined a mastermind as an alliance of two or more people, working together in a spirit of perfect harmony to accomplish a definite purpose. Strategic alliances represent a key to unlocking the 'mastermind principle' and creating profound success for your online enterprise.

The nature of the typical client/vendor relationship does not create a common objective under which both parties can work together in a "spirit of perfect harmony." Most companies hire a vendor to develop their website, provide paid-for promotion services at the lowest possible cost. The vendor is motivated to provide their services as economically as possible so they can move on to the next development project. 

However, successful online marketing is not a one-time job. It's an ongoing process. Updates to content are a necessity and standard promotion techniques that work for one product or service, may not work for another. Ongoing evaluation and shifts in marketing strategies can be a necessity to reach your projected audience or to adjust your marketing focus as new, and often unexpected, markets present themselves. These aspects of Internet marketing make forging a strategic alliance for your web site development a natural winner.

Opportunities for strategic alliances are also available through other trade relationships. Alliances in the form of affiliate marketing and referral marketing can have a tremendous impact on your online success... look no further than Amazon.com. Even the search engines bear this out as rank criteria is significantly based on the number of links to your site.

According to Brian Tracy, one of the top success experts in the world, the old sales paradigm was based on 10% relationship building, 20% product knowledge, and 70% closing. The new paradigm has flipped to 70% relationship building, 20% product knowledge and 10% closing. This new model certainly holds true with Internet marketing and creating win-win alliances.

How can you negotiate collaborative alliances to create win-win Internet marketing strategies? Consider offering equity in your business or paying a commission on actual website sales to create a vested relationship with your developer. Look for affiliated non-competitive products and services with which you can trade referrals and share in the benefits. Strategic alliances can serve to reduce the risks related to non-performance and can go far in expanding your revenue earning (and sharing) opportunities. It is apparent that the Mastermind Principle and the new sales paradigm are applicable to successful Internet marketing. 

[Published in the Everett (WA) Herald Business Journal]

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Biographical Information

Debra L. Malmos AAP is President & CEO of iFULL Enterprises, Inc., an Internet service provider and web site development business. Debra has been involved in web site development and Internet marketing since 1995. She launched iFULL Enterprises, Inc. in 1997.

Debra is an accredited payment industry expert with over 20 years of experience in the financial industry. Ms. Malmos served for 11 years as Director of Education and Training for Mid-America Payment Exchange, one of the largest regional banking associations in the nation. Debra has spent 17 years as a professional trainer with over 2,700 hours of public speaking experience. In addition, Ms. Malmos is a published author of nationally distributed payment industry publications and articles and has experience as a producer and scriptwriter for industrial videos. The scope of her background includes marketing, data processing services and financial operations with emphasis in accounting, audit and cash management.