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Why You Are Not Making Money from Joint Ventures

Written by: Robin Elliott

Article Overview: This could be the information that changes everything for you in your Joint Ventures.

Why You Are Not Making Money from Joint Ventures

You might be aware of the well-known study, in which twenty insurance salesmen were sent out to sell insurance by cold calling in the same neighborhood. The first team of ten was highly trained and sophisticated, very well presented and asked to cold call in the neighborhood by knocking on doors.
The second team of ten was badly trained, badly dressed, and badly groomed. They were told to knock on at least fifty doors a day and ask each prospect, “You wouldn’t be interested in buying any insurance, would you?”

The second team outsold the first team by far. That’s right; those badly dressed salesmen who asked a stupid question sold much more insurance than their suave, slick counterparts. Why? Because the “good” salesmen didn’t knock on nearly as many doors as the “bad” salesmen. ACTION overlooks many sins. I imagine the “bad” salespeople learnt a lot as they went along, learning what body language worked, and developing their confidence every time someone actually bought from them.

I recently had someone call me and whine that he wasn’t making money from Joint Ventures, even though he had attended some of my training. Upon questioning, I learnt that his goal was to make $150,000 a year from Joint Ventures (he had no experience in JV’s) and that he actually spent less than two hours a day working on JV’s. In the beginning, you have to work and practice, so that you can learn. This loser was blaming everybody and everything except himself, whereas a good look in the mirror would show him a lazy man. His problem is not his tools or his training but his torpor. His own indolence robs him of success.

The biggest reason why you are not making a truckload of money from Joint Ventures is LACK OF ACTION. Laziness. Slothfulness. No work. The more you see, the more you sell. But you also gain knowledge and experience from all the things that don’t work, and you learn not to take “rejection” personally. The most successful entrepreneurs I know continually fail on many projects, but the ones that succeed make us rich. The difference is that we WORK. We follow up. We do whatever it takes. We do what we promise. We take responsibility. We don’t make excuses, blame our tools or procrastinate. We make decisions fast and we take massive action on many fronts. We are reliable and available.

So, if you’re not getting the results you want, double the action you take. Then double it again. Get advice from successful people and then DO what they tell you to do. Do more than anybody else, and you’ll GET more than anybody else. Joint Ventures give you maximum leverage and take very little time. You can work with no cost or risk. But you have to WORK. Work more. Work harder. Stop whining and making excuses. When you make your breakthrough, it will be INTERNAL – in your mind, your level of understanding, your skills, your self-esteem, your confidence. And your success ratio will increase. Think about this: if you had only one JV that you were working on and it didn’t succeed, how would you feel? If you had twenty that you were working on simultaneously and one didn’t work, how would you feel now?

Sow sparingly and you will reap sparingly, if at all. Sow massively and you can’t lose. Get off the couch, out of bed and away from the television and get to work. You’ll be so glad you did. There is magic in action. Here’s the good news for the lazy ones: The more action you take, the better you get, until you’re so good that you can get a lot more results with much less work. Then you can work less and earn more. I know we say you must “sharpen the axe” – hone your skills – but you have to actually USE the axe in between the sharpening / seminars / courses and books. Joint Ventures are the key to riches. Don’t throw away the key because you haven’t taken the time and done the work to learn how to use it. Stop whining and start working.

Related Articles
  Joint Venture and NonDisclosure Agreements
  The Importance of Joint Ventures
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  Advantages and Disadvantages of Joint Venture
  Joint Venture

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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
Making Money in 2011 - Hello forum members! As we draw closer to the new year I thought it would be appropriate to change the title of our forum category "Making Money in 2010" to "Making Money in 2011" - I'm looking forward to some interesting discussions and wish everyone a prosperous New Year!
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.


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