05.31.07
Clues from Twenty Years of Business Success
Rika and I sat down and evaluated our 20-year-old business. We were looking for success clues, the common denominator to growth, the combination to the vault. Why did we experience those growth spurts, what worked, and what didn’t work? When we scoured the income statements and examined the growth graphs in our Joint Venture Brokerage, this is what we found.
The First Clue was finding the right people. We have wasted a lot of time with talkers, scammers and losers. Fortunately, we discard them faster than a dirty napkin. But the graphs clearly show remarkable growth after with winners. The more selective we are, the more money we make. This is the reason why we started the DollarMakers Joint Venture Forum. Weirdos very quickly get identified and ejected by other Members. Finding good people is a key to massive growth.
The Second Clue was finding Centers of Influence and doing Joint Ventures with them. This is the fastest, most effective way to make serious money on a regular basis. It has become a major focus for us. We have also found that not everyone who claims to have a large database is telling the truth and they often use that as bait to access your database, so you have to have a reciprocal, measurable plan off action in place before embarking on a JV with these types.
The Third Clue was focusing on resultsand not getting distracted or blinded by enthusiasm, promises, business plans, meetings or tools. People often use their bubbly personalities or track records to avoid the fact that they’re not selling. After a while, when you see they’re not going to produce, cut bait. Talk is cheap, but money buys the whiskey (preferable Lagavulin). Don’t buy excuses and ignore justification. The bottom line is all that counts.
The Fourth Clue was looking at track records. People seldom change. Those who regularly don’t do what they say they will do generally never accomplish much. Look for JV partners who have a track record of successes, not failures. Look for patterns and you can predict choices and behaviors. You can also avoid disappointment. Replace the losers with winners until you only work with winners. We found that a spot of due diligence before the JV will save one a lot of time. Hindsight is always 20/20, but if you learn the lesson, it’s worth it. (Also look who they associate with.)
The Fifth Clue is to avoid politically correct people (passive aggressive backstabbers) and NOT to be politically correct yourself. By being a namby-pamby, weak, politically correct type, you will attract losers like flies. Strong people will tell the truth and make things happen. They are courageous, ambitious, and reliable. Be real if you want real results. When we were outspoken and aggressive we made a lot more money and felt a lot better about ourselves.
If you use these clues as a template for your business, especially in the way you select your team and JV partners, you will make more money, have more fun, and grow much faster.
Robin J. Elliott www.DollarMakers.com
