Wrap your mind around this one: If every car that crossed the Port Mann Bridge each gave you just one dollar per MONTH, you would earn $300,000 per month. Every driver could afford one dollar per month, and all you would have to do is give him a reason to pay you. When we look at the amount of potential surrounding us, we realize why some people become fantastically rich, while others battle to merely survive financially. The “Toll Booth” analogy works well when you think of the richest man on earth, Bill Gates – he gets paid on each transaction. Like royalties to recording artists or authors. It doesn’t matter who you are or what you do – all you need to do to partake in profuse and proliferate prosperity is to set your tollbooth up. Once you understand the mindset, it’s easier than you might imagine.
First, you need to find traffic – like the cars going over a bridge, a stream of people buying at a certain place, a flow of distribution, (like a river, where you simply divert the flow through your bank account and back into the river again) or a movement or process of business. Then, think of a logical addition of value to that group, product, or process. For example, a thousand cars park all day, every day in the sun while the drivers leap onto a train to go to work in the city. That’s the flow. What do they need / want? How can you add value to them? Perhaps they need those windshield sun protectors so they don’t get into steaming cars and their car interiors are protected. That’s the value.
Next, you need access to those people. For this, we use Joint Ventures. I might want to skip off to the nearest dollar store and buy a few hundred sun protectors and then sell them to the drivers as they head for the train, but I might need permission to talk with them. I could arrange a profit sharing deal with the person who can give me this access / introduce me to the drivers. Then, I need to remove risk, cost and time from the Joint Venture opportunity. I don’t want to be stranded with five hundred sun protectors that I can’t sell! Could I take orders for the sun protectors or get them paid for in advance or get them on consignment? That way, I don’t sell any, I don’t lose anything. I could Joint Venture with the person who owns the dollar store, right? And to remove time, could I have someone else do the actual selling and share the profits with them? This is a simple example, but the principle works with million dollar deals as well as with small businesses.
Finally, how can I add to a successful Joint Venture? I now have a captive audience / database. What else do they want and need? There are millions of dollars and opportunities and underutilized resources just waiting for you to take advantage of them. Once you realize that you can create bridges and set up tollbooths at will, in any area, industry, or situation, with no cost or risk and very little time, you can remove all financial barriers from your life. You can create multiple streams of passive income by understanding the power of Joint Ventures.
Unlimited Potential by Robin J Elliott - To learn more about this author, visit Robin Elliott's Website.
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