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Joint Venture Jitters

Written by: Robin Elliott

Article Overview: Some common questions that come up for people who are unaccustomed to the Joint Venture mindset can deprive them of the wonderful benefits of this powerful business tool. Here’s some thoughts to get you past these initial Joint Venture jitters.

Joint Venture Jitters

Some common questions that come up for people who are unaccustomed to the Joint Venture mindset can deprive them of the wonderful benefits of this powerful business tool. Preconceived ideas, misconceptions and biases, often the result of collectivist conditioning, about what is ethical and right, deny them access to the potentially exponential value and reciprocity inherent in the Joint Venture mindset. This is not surprising, given the fact that most small and medium business owners, and especially employed (and self-employed) people still operate with cumbersome, expensive and risky industrial age business paradigms that limit, tire and frustrate them. Think cold calling, fear of competition, scarcity thinking, risky advertising and marketing, high overhead, selling time and minimally productive “business networking” meetings.

“I can’t ethically refer someone or some product or service if I am receiving compensation for any resulting business.” Yes, you can. In fact, when the service provider pays you for the referred business, thereby radically reducing his risk and acquisition cost, his price and exposure are lower, resulting in a better deal for the referred customer. The vendor is paying to acquire the customer anyway. Instead of risky advertising that often doesn’t work, why should he not pay for results instead of promises and thereby stay in business long enough to provide the on-going service and support he is promising to his customers? The marketing and advertising choices of any vendor have nothing to do with his customers. And in a capitalist society you are allowed to be paid, compensated and rewarded for any value that you create.

“I have to disclose the fact that I am being compensated to the person I am referring.” You don’t. It’s none of his business, any more than your private budget is or Profit and Loss Statement is. When someone is thirsty and you direct them to the water vendor, they don’t care what your relationship with him is. They will be offered a product or service by that vendor and they will decide whether or not to accept it. If they do, you are entitled to be paid by the vendor. He should not hike his prices to accommodate your referral fee or commission, but even if he does, that is between him and his new prospect or customer. People do business by choice. Nobody is being forced or coerced.

“But I have always given people referrals and I never get paid.” That’s fine. Would you like to get paid? You don’t have to, of course. It’s like paying for a $25 meal with a $100 note and being too embarrassed and confused to take your change, or working for your boss for a whole month and then suggesting he keeps your salary to buy his wife a nice gift. Good for socialists and leeches, but not for real entrepreneurs.

“But I have been told I have to focus on my core business and I don’t want to be distracted by doing other business (Joint Ventures)” Joint Venture should be conducted with minimal time, cost and risk. They don’t distract but they do create value and improve relationships, which will automatically decrease your customer attrition rate and increase referrals, goodwill, average transaction amount, and more. In addition, they will create multiple streams of passive income for you at a 100% profit margin, straight to your bottom line. If you learn from dinosaurs you will probably share their lifestyle. Don’t take advice from turkeys and expect to soar with eagles.

I know it’s hard to break free of restrictive, outdated conditioning, so we have created an ongoing support system that will help you shift your mindset and understanding to a place where you work smart and not harder. Consider joining the DollarMakers Joint Venture Forum. Don’t get shook up – hook up – with winners: www.jvwisdom.com

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Article Tags: age business, biases, business networking, business paradigms, business tool, capitalist society, joint venture, medium business owners, mindset, misconceptions, networking meetings, preconceived ideas, productive business, profit and loss, profit and loss statement, promises, reciprocity, scarcity, service provider, small and medium business



Related Forum Posts
Re: [JOINT VENTURE] Want FREE Staff? Want to Scale Up Massively? - Hi Alan, Welcome to the forum! [quote="Joint Venture":2bfdqwzb]Total transparency is a must when JVing with someone.[/quote:2bfdqwzb] What about when inviting people to send you their proposals...? Cheers, David H
Don't leave your Wallet on the table - Targetzone, Evan has great points on targeting you package. Also I read the revenue model you mentioned and i believe you are leaving a lot of money on the table. Aisde from making just $15/sale of a package you could also be making income from sales generated after the people use the coupon on their second and ongoing visits to the Service/Product company. I've sent you a PM - We can talk more advanced strategies. BTW - I'm a Dollarmakers Member and have taken the Joint Venture BootCamp 101 and highly recommend it if you wish to pursue this idea. PM me privately and we can talk.
Re: [JOINT VENTURE] Want FREE Staff? Want to Scale Up Massively? - [quote="Joint Venture":3738ldxh][quote="Ringo":3738ldxh]1) Credentials? Any website? Any client list? 2) Where do you get your staff from? How? I mean if i really am going to hand over a lot of sensitive information to be handled by staff of your choosing, I'll need to know how you operate with total transparency.[/quote:3738ldxh] Ringo, 1) Send me an email with your proposal and if I like it I shall disclose all that your need. 2) That's my USP! Total transparency is a must when JVing with someone. Let me know your proposal and we may discuss it. In regards to staff dealing with your sensitive information, compartmentalize the data. Have different teams deal with only a section of the whole picture. [quote="ideasuniversity":3738ldxh]How long have you been doing this? And what are your success rate?[/quote:3738ldxh] Joint venturing? I have done JVs before and had good success. This JV? Brand new. New source of staff. Success rate? I've made a good bit money! [quote="Trent Brownrigg":3738ldxh]This same person posted this exact same post several times at another forum I moderate. Now, he is posting it here as his very first post. I consider that to be a spammer![/quote:3738ldxh] I consider it being proactive! Sorry if I have stepped on anyone's toes. Not my intentions. Look forward to reading more of your emails, Alan[/quote:3738ldxh] Let have your website.
Re: need a capitalist to hear me out - If you have solid business plan, there are thousands of Angel Investors and Venture Capitalists that will fund your project. Google "Venture Capitalist" and you will get tons of investors who are ready to fund your project
Re: [JOINT VENTURE] Want FREE Staff? Want to Scale Up Massively? - [quote="Joint Venture":1ofoz1sm] [quote="Trent Brownrigg":1ofoz1sm]This same person posted this exact same post several times at another forum I moderate. Now, he is posting it here as his very first post. I consider that to be a spammer![/quote:1ofoz1sm] I consider it being proactive! Sorry if I have stepped on anyone's toes. Not my intentions. Look forward to reading more of your emails, Alan[/quote:1ofoz1sm] Well, I will give you credit for at least coming back here and replying. But just an fyi that you will be seen as a spammer if you post the same thing on a bunch of different forums, especially if you post it more than once on any one forum. You should be careful about that because a lot of people are members of the same forums.


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