Three Keys to Joint Venture Success
Three Keys to Joint Venture Success
There are three vital characteristics to look for in your Joint Venture Partners. If any one of these is missing or suspect, walk away – but walk FAST. If all three are in place, however, look forward to a lucrative, long-term, and satisfying Joint Venture partnership that will outlast any challenges and forge a strong and enduring friendship, which exceeds any monetary rewards.
The first Key is Congruency. That simply means that people walk their talk. That they live according to their professed values and beliefs, and that they are true to their word, honest and reliable. Congruency means you know whom you’re dealing with. There is no place in Joint Venture relationships, or any relationships, for that matter, for dishonesty, hypocrisy, and double talk. What you see should be what you get. Seek straight shooters, not politicians, and shysters. Not excuse makers. In addition, if people are congruent, that means they are driven by their philosophy, so make sure they are Capitalists and not collectivists. Remember to watch out for the Bible thumpers – they are usually the least honest of all. People who have to tell you how honest they are, are usually not.
The second Key is Constancy, or consistency. The same, yesterday, today, and tomorrow. Not one day your friend and the next day a stranger, no Jekyll and Hyde, schizoid behavior. You’re looking for people who are there when you need them, who return their calls and e mails promptly, who deliver on time, who do what they say they will do and who always show up for you. People who have your back. Long term. Not in for the quick buck. No desperados. Look at peoples’ track records for clues as to whether you have picked up another loser who is pretending to be a winner. You’re looking for solid, grounded, stable JV partners.
And the third Key is Creativity. Joint Ventures should be based on strong relationships of trust and commitment, but they WORK because of creativity. People who are too analytical will suffer from “Paralysis of Analysis” and forget all about the bottom line. You have to be able to deal with imperfection and see the opportunities. It’s essential that Joint Venture Brokers are open-minded and that they are open to the ideas of others – that enhances the creative possibilities in JV’s. Without creativity, you have an employee mentality that insists on selling time for money, thinks in terms of scarcity, and has a feeling of entitlement. Capitalism is founded on creatively delivering value and being paid for it.
By carefully selecting your JV partners you save time and frustration, money and tears, and you achieve amazing results. Be prepared to say, “No” and be ready to walk away at any time when you see that one of the three Keys is missing. "Birds of the feather flock together" - who are you flocking with? Do you want to go where that flock is headed? A good team accomplishes magnificent things. Find the right partners in the DollarMakers Joint Venture Forum.
Three Keys to Joint Venture Success - To learn more about this author, visit Robin Elliott's Website.
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Three Keys to Joint Venture Success
There are three vital characteristics to look for in your Joint Venture Partners. If any one of these is missing or suspect, walk away – but walk FAST. If all three are in place, however, look forward to a lucrative, long-term, and satisfying Joint Venture partnership that will outlast any challenges and forge a strong and enduring friendship, which exceeds any monetary rewards.
The first Key is Congruency. That simply means that people walk their talk. That they live according to their professed values and beliefs, and that they are true to their word, honest and reliable. Congruency means you know whom you’re dealing with. There is no place in Joint Venture relationships, or any relationships, for that matter, for dishonesty, hypocrisy, and double talk. What you see should be what you get. Seek straight shooters, not politicians, and shysters. Not excuse makers. In addition, if people are congruent, that means they are driven by their philosophy, so make sure they are Capitalists and not collectivists. Remember to watch out for the Bible thumpers – they are usually the least honest of all. People who have to tell you how honest they are, are usually not.
The second Key is Constancy, or consistency. The same, yesterday, today, and tomorrow. Not one day your friend and the next day a stranger, no Jekyll and Hyde, schizoid behavior. You’re looking for people who are there when you need them, who return their calls and e mails promptly, who deliver on time, who do what they say they will do and who always show up for you. People who have your back. Long term. Not in for the quick buck. No desperados. Look at peoples’ track records for clues as to whether you have picked up another loser who is pretending to be a winner. You’re looking for solid, grounded, stable JV partners.
And the third Key is Creativity. Joint Ventures should be based on strong relationships of trust and commitment, but they WORK because of creativity. People who are too analytical will suffer from “Paralysis of Analysis” and forget all about the bottom line. You have to be able to deal with imperfection and see the opportunities. It’s essential that Joint Venture Brokers are open-minded and that they are open to the ideas of others – that enhances the creative possibilities in JV’s. Without creativity, you have an employee mentality that insists on selling time for money, thinks in terms of scarcity, and has a feeling of entitlement. Capitalism is founded on creatively delivering value and being paid for it.
By carefully selecting your JV partners you save time and frustration, money and tears, and you achieve amazing results. Be prepared to say, “No” and be ready to walk away at any time when you see that one of the three Keys is missing. "Birds of the feather flock together" - who are you flocking with? Do you want to go where that flock is headed? A good team accomplishes magnificent things. Find the right partners in the DollarMakers Joint Venture Forum.
Three Keys to Joint Venture Success - To learn more about this author, visit Robin Elliott's Website.
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith'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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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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