Joint Venture Selectivity Pays Off
Joint Venture Selectivity Pays Off
Two good examples that I use with Members of the DollarMakers Joint Venture Forum are these:
1. When you’re contemplating doing business with a particular Member of the Forum, call me and ask me for more information on that Member. Do your homework before approaching a potential JV partner. It takes a little time, but your closing ratio will be much higher.
2.We currently have 454 Members. Growing daily. Instead of trying to do business with each of them, select 10% of them that you would love to work with, where you see a good fit. You know that birds of the feather flock together, so have each of them refer you to ten more people. That’s a way to get to a higher quality, more carefully selected group. Each of our Members knows at least 100 people – some have databases of many thousands.
Spend more time checking references and testing people, before you jump in to a JV. Do they return calls and e mails promptly? Do they have their profile on the Members page? What is their reputation among Members? Are they involved in the Forum activities, conference calls, meetings, etc.? Do your due diligence. There is a scripture that say, “Faithful in little, faithful in much.” That means that if people are reliable and honest regarding small matters, it’s an indication of how they will handle larger matters.
The best thing about selectivity is that you end up working with people whom you like, trust, respect and enjoy. JV Brokers deserve a wonderful, happy and prosperous life, so let’s carefully select the people with whom we share that life.
"What a caterpillar calls the end of the world, the master calls a butterfly."
Joint Venture Selectivity Pays Off - To learn more about this author, visit Robin Elliott's Website.
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It is far, far better to invest $10 on each of ten well qualified prospects than to spend $1 on each of 100 less qualified prospects. The old high-powered sniper rifle with a telescopic site and expensive bullets or a shotgun with birdshot analogy. Learn to say, “No” and become selective, and you will save time, save money and be a lot less frustrated. And you will get rich. Be a good steward of your time and resources. Remember, first impressions are important, as is packaging.
Two good examples that I use with Members of the DollarMakers Joint Venture Forum are these:
1. When you’re contemplating doing business with a particular Member of the Forum, call me and ask me for more information on that Member. Do your homework before approaching a potential JV partner. It takes a little time, but your closing ratio will be much higher.
2.We currently have 454 Members. Growing daily. Instead of trying to do business with each of them, select 10% of them that you would love to work with, where you see a good fit. You know that birds of the feather flock together, so have each of them refer you to ten more people. That’s a way to get to a higher quality, more carefully selected group. Each of our Members knows at least 100 people – some have databases of many thousands.
Spend more time checking references and testing people, before you jump in to a JV. Do they return calls and e mails promptly? Do they have their profile on the Members page? What is their reputation among Members? Are they involved in the Forum activities, conference calls, meetings, etc.? Do your due diligence. There is a scripture that say, “Faithful in little, faithful in much.” That means that if people are reliable and honest regarding small matters, it’s an indication of how they will handle larger matters.
The best thing about selectivity is that you end up working with people whom you like, trust, respect and enjoy. JV Brokers deserve a wonderful, happy and prosperous life, so let’s carefully select the people with whom we share that life.
"What a caterpillar calls the end of the world, the master calls a butterfly."
Joint Venture Selectivity Pays Off - To learn more about this author, visit Robin Elliott's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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