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Joint Ventures: The Profit Power of Motivation

Written by: Robin Elliott

Article Overview: While Motivation may seem like a pie in the sky ideal, it does have a real effect on your bottom line which should not be overlooked.

Joint Ventures: The Profit Power of Motivation

When I attended a Dale Carnegie Management Course, the trainer, Deon, told us a story I’ll never forget. He owned a successful jewellery store in a mall. After attending his first Dale Carnegie course, he decided to treat the security guards in the mall, whom he’d always ignored, in a friendly and respectful manner. He started asking them about their families and greeting them. Suddenly, they started arresting thieves in his shop, for shoplifting. He called a meeting of the security guards and asked them what they thought had caused this rash of shoplifting.

To the best of my recall, this was their reply, as Deon conveyed it to me: “Sir, there has always been shoplifting and theft in your store. But you treated us so badly that we simply chose to ignore the thieves. Since you started treating us well and showing a genuine interest in us, we started catching the thieves.” Deon estimated that he had lost tens of thousands of dollars over the years because of his uncaring and haughty attitude towards the security guards.

We tend to underestimate the tremendous untapped profit that can be released when we start to treat our employees well. I’m not talking about being soft or compromising our standards; I’m talking about being sincerely interested in their wellbeing, dreams and goals. Remembering their family members’ names and their birthdays is a good start. One simple exercise that works well for me is to have a piece of paper in my pocket where I jot down personal information about employees and file it for later reference.

As a group exercise, we hang a paper card around their necks, on their backs, and have them each write a positive, upbuilding, sincere and honest compliment about the person on the card on his or her back. At the end of the exercise, each person has a whole list of good things that other people think about them. I have known employees to keep these lists for years. Many people seldom receive specific, honest compliments. They dress as well as they can and nobody notices or remarks on it. They have their hair done, and no one says a thing. They work overtime and it’s taken for granted. Notice their contribution, reinforce good behavior and reap the rewards. And, if you really want to massively increase your sales, stop whining about your staff and attend the Dale Carnegie Management Course. It all starts with the owner of the business. That’s where the buck stops. And that’s YOU.

The same principle applies to Joint Ventures, the most powerful business tool ever discovered. Good relationships are the basis for good business. Together, we can dio amazing things. Check out the DollarMakers Joint Venture Forum at www.JVWisdom.com.

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Related Forum Posts
Joint Ventures?? - I read this following paragraph in another business forum. Has anyone used joint ventures and had successful results? How do you go about setting up joint ventures? [quote:3vnvuml9]Joint Ventures have been, and always will be one of the most powerful marketing tactics ever, and for good reason. They are easy to set up, and they cost you nothing and if set up correctly will allow you to have more customers than you can handle! So if you promote a great product or service and want to expose it to more prospects, or you you seek ways to increase your sales, but aren't quite sure how to go about it you should definitely consider harnessing the power of Joint Ventures And the best part is that anybody can start using joint ventures to skyrocket their profits. It doesn't matter what you sell, or where you sell it.[/quote:3vnvuml9]
Re: Marketing a company - Get their contacts from someone who had been marketing to them before and do Joint Ventures with the guy
Free Ebook on Joint Ventures - Julie, you might be interested in the free ebook offer through Dollarmakers.com on Joint Ventures that has upto 30 variations for a small business to create joint ventures. Once you've read it I'd be happy to share more advanced ideas based on the book.
Different types of funding - Business Relationship Funding This is another source of funds that can be overlooked. It may be possible to introduce potential alliances to add value to both parties. It may produce an ultimate exit route in the medium to long term. Joint Ventures: Requires a legal agreement embodying the deal and another company Partnerships: Two companies collaborate with possible funding. Joint working relationships: These are an informal partnership which may be more project specific where the parties can share resources. Agencies: These can be geographical or product specific and generally incorporates a payment for the right to the agency. Distributors: Very like an agency but may not necessarily involve up front payment. Alliances: These do not require a separate company and can be embodied by a legal agreement to work together. Trade investors: Otherwise known as Corporate Partnering. This can be a good way to involve a much larger company in the business with a view to possible trade sale further down the line. Associates: This can be a loose arrangement with no fundamental commitments either way, rather like a preferred supplier. Equity Swop: Two companies exchange shares to a similar value to develop both businesses. Franchises: This can allow the business to grow without further direct investment. Licensing: This involves licensing a product or service to enable others to sell it. This requires you to own the intellectual property.
Women Entrepreneur Tips - Thank you LeoOliveros, I found #4 particularly true in my case: 4. The Enterprise Must Include the Power of Power Networks. As a conductor of your own enterprise, you can not see yourself as a one-woman-show. You must choose to utilize the power people in your life, by asking for help when you need it, and effectively delegating in order to capitalize on your strengths and that of your power network. When certain experts are not represented in your power network, you must actively seek advisors or mentors and develop a team of specialists, so the benefits are received by everyone involved in the power network - the true Power of Power Networks.


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