Archive for November, 2005
The Importance of Joint Ventures
I was recently asked why I was so passionate about Joint Ventures. Joint Ventures are a business opportunity in itself – it is the great liberator. Anyone can learn how to use JV’s to create financial independence. Students who finish college and still can’t find a job, seniors who can’t survive on their pensions, immigrants who face xenophobic attitudes in their new countries, good people who are downsized and people whose educational qualifications are no longer deemed sufficient by bureaucrats, can all grab Joint Ventures as a drowning man in a turbulent and dangerous ocean would grab a lifebelt.
Crime, drug dealers and terrorism needs poverty and desperation in order to flourish. By helping people to create their own financial independence through the understanding and application of Joint Ventures, we can save marriages and lives and our society. The only people who claim that money is not important are those who don’t have any. People can make good money with no risk, no overhead and no previous experience or education, and they can do so very fast. Our one day, Joint Venture Broker Bootcamps teach people in one day how to start making money the very next day, with no capital investment, regardless of age or gender. It’s almost miraculous how powerful this concept is. That’s why all the large businesses use them.
Joint Ventures also give us security – we can earn money even if we can’t work through illness or other reasons, because that is the nature of a good JV. This is the solution so many people seek, yet they don’t even know it exists. I want to tell people all over the world that they can create financial freedom through JV’s. With JV’s, we don’t put all our eggs in one basket and we don’t give someone else power over us. We can be independent and proud and free. I love Joint Ventures and I love teaching others about this amazing business tool. I strongly suggest you read the following – Click here
Free Joint Venture Information
Joint Venture Profit Margins
One of the questions I get asked on a regular basis is, “How much should I ask for when setting up a Joint Venture? What percentage is reasonable?” And that’s a very good question. Different businesses have different profit margins. Some have higher overhead and costs of sales and than other. If you sell computer hardware, for example, you make a very small profit – most of your profit is in the software, service, keyboards, etc. So here is a way to approach this challenge. First, do your homework. I know I keep saying that, but information is power when it comes to negotiations. That’s good news, because most people talk a lot, but don’t listen much, so when you listen a lot, you learn a lot. Find out about the business and its profit margins. Make sure they’re telling the truth when they say they’re not allowed to pay commissions. Sometimes, they’re just plain lying, because they’re cheap! Talk to their competition, ask employees questions, and you will get a feel for the amount of profit they make, so you know what to ask for.
Second, educate them about the money in the Back End. You might make no profit at all on the first sale (break even on the first transaction) but you can make a lot on future transactions, referrals, additional products and services sold through other vendors on a JV basis and on and on. If people understand the Back End correctly, they will be eager to give away a generous portion of the front end. Show them the principle of Incremental Profits (profits made when overhead and salaries are already covered and the new sale is incremental, like putting an extra seat into a seminar or serving another plate of food when the food cost is only 32%)
Third, understand negotiating techniques. By all means start high and drop, but don’t start greedy. Be prepared to walk away from any deal at any time. Remove risk from both parties and work WITH the competition. Savvy entrepreneurs know their competition can be their greatest ally.
Most of all, approach any Joint Venture proposal from a position of strength – know more than the person you’re dealing with. Be well prepared.
ASK – The Key to Joint Ventures
“Will you marry me?” That was the most important question I ever asked anyone in my life. I was very fortunate when Rika finally agreed! I have the best wife in the world, no question about that, but it would never have happened had I not asked. March 29th, we’ll have been married for 20 years. All because I asked. How many opportunities have we lost in life, simply because we didn’t ask? What’s the worst that can happen? They can say, “No.”
I know it’s hard for some of us to ask, especially self-sufficient, proud, responsible, disciplined and hard working entrepreneurs. We don’t want to take advantage, we’re afraid of being made a fool of, afraid of rejection, and so on. But the fact is, things only happen when we make them happen. And that usually involves asking people to do something. Together, we can do amazing things – but we need to invite others to participate in our Joint Venture programs in order to achieve the maximum results, and that involves asking. And it’s absolutely amazing what people will do, if you simply ask them to!
I talked with a beggar on the street once. I was interested to know if he felt bad when people didn’t give him money. He answered, “No, siree! I don’t feel bad if they ignore me or don’t give me money – THEY feel bad! I just keep on askin’, askin’, askin’, and the Law of Averages kicks in. I can predict pretty accurately how much money I will make on any given day, as long as I keep askin’. And the more I ask, the more I git!” Salespeople know this – it’s a Numbers Game – ratios are real. Statistics are real. It’s a game. Ask ten people and you might get something. Ask a thousand people and you most certainly will!
Set up your Joint Ventures in such a way that YOU ask many people and that you have a system to ask many more. And the more you ask for, the more you’re likely to get. Be confident, plan your strategy well and ASK. By all means ask. Ask many people. Ask for more. “You have not, because you ask not”, is true.
