We know that 20% of the people get 80% of the results in any group. That same 20% does most of the work and also makes most of the money. This applies to any group. That Inner Circle of committed, smart people actually understand that “What goes around, comes around”, that we reap what we sow and that repetition builds momentum, which in turn builds exponential wealth.
We also know that 65% of the business ideas we try, will probably fail. And 20% of those that work can make your very rich. Now if you’re in a conventional business, that could be disastrous – a huge risk – you could lose everything – so we take less risks and try less things. As a Joint Venture Broker, however, it doesn’t matter! If we approach JV’s with a “No money, no risk, win/win” mentality, we have nothing to lose except a little time. So we can be the Babe Ruth’s of business, striking out at will and enjoying it! The more you try, the more you succeed – it’s a numbers game, after all. We can go crazy trying new things, having fun, being creative with Joint Ventures – it’s magical.
So here is a simple Joint Venture Success Formula that works really well for me:
First, choose your JV partners very carefully. Don’t listen to what people say; talk is cheap and money buys the whiskey. Watch what they DO. Not when things are going well, but when cash flow is tight and the chips are down. Watch them over a period of time, do your due diligence and look for patterns. Look for that small 20% (I think it’s closer to 5% if you’re really selective.) Those who show up. Those who have your back. Those who deliver. Do you know how many people promise and don’t follow through? How many people were going to join the Joint Venture Forum and never did? Now they don’t understand why I won’t do business with them – I only do business with Members, on principle. Seek out the Eagles, not the turkeys who wear Eagle masks.
Second, try many things! If only 20% of them work out, you can still make a fortune! That means that you have to take massive action. Now if you’re working with the 20% of people who actually work, you’re on the right track. Winners don’t get phased if something doesn’t work out – in fact, they get excited because they know they’re getting closer to the gold! I love working with Eagles because they are bulletproof. They are optimists. They are impervious to the slings and arrows of losers. They are excited about their goals.
20% of people, and 20% of the JV’s we try – that’s reality. Now, if you try 20 things a year, you might make some money. But if you try 20 things a WEEK, WOW! Get excited – get very excited – Joint Ventures is the key to making real money with no cost or risk. Join the Forum, get involved and let’s make all our dreams come true. Together, we DO amazing things. You can find more information at www.jvwisdom.com.
80/20 – The Parieto Principle in Joint Ventures - To learn more about this author, visit Robin Elliott's Website.
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