We need to know what's going on in our businesses if we intend to follow Michael Gerber's famous advice and "work ON our businesses, instead of IN our businesses". The biggest enemy of objective analysis is EGO. We want to be right, we don't want to admit to our fears, mistakes and failures, and we want to look good. Gary Player said, "Sales is Ego; Profit is Reality." He's right. Successful entrepreneurs forget about popularity, being politically correct or their own egos. They are self confident and strong and they measure the bottom line. Successful Joint Venture Brokers are objective, proactive and fast moving.
Joint Ventures are the most effective business tool available. They allow us to build massive profits, overnight, with no money or risk and very little time, by leveraging existing resources. After 18 years of Joint Venture experience, I have come up with a few questions we should ask ourselves and standards by which we should measure whether or not to accept or institute or continue with a Joint Venture.
1. Is this the best use of my time and resources, or do I have a better alternative? (If another alternative is better, cut bait.)
2. Am I spending my own time, money and resources, or am I using other peoples' time, money and resources? (We should use other peoples' resources.
3. Am I acting as a salesperson / hired gun? (If so, walk away immediately.)
4. Is this deal as good as I thought it would be? Is the other party doing what he or she said they would? Am I still comfortable with this, or should I drop it?
5. Is this win/win and does every party benefit, or is someone being taken advantage of?
6. Are my partners ethical, honest and professional?
7. How can I add a back end, further leverage this situation, increase profits and/or distribution, or sell the deal?
8. Where can I learn more about Joint Ventures?
9. How can I meet better JV partners and find better deals? (My NetWORK determines my NetWORTH).
10. Are my resources being optimized? Do I have underutilized resources?
Joint Venture Success Depends on Analysis - To learn more about this author, visit Robin Elliott's Website.
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David Barr
David 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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Leanne Hoagland-Smith
Are your sales where you want them to be? Will you be one of the few who achieves sales success or one of the many who have failed to change? So what are you doing to change those results? Let’s be honest, with companies moving globally and at lightening speeds, the traditional business solutions are outdated and dead. My approach moves your business out of its comfort zone and secures your competitive advantage now. If you are seeking to increase sales, build customer loyalty, create a culture of great attitudes or just achieve some sleep filled nights, then we should talk because my clients have experienced exactly those types of results. Learn more about customer loyalty at http://www.processspecialist.com/customer-loyalty.htm Give me a call at 219.759.5601 for a free strategy session. P.S. If you are seeking a motivational speaker, sales trainer or small business expert that will leave your audience smiling and remembering, please feel free to contact me at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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