“Vertical Thinking” is analytical, focused, left-brain, binary (black or white) and narrow. This is the way most of us in the west have learned to view life and business. Horizontal thinking, on the other hand, is creative, right-brain, lateral, open, inclusive, synergistic, and strategic. Joint Ventures utilize and optimize both these approaches perfectly.
Edward DeBono , author of 62 books on creative thought, said:
“Some people are unhappy about lateral [horizontal] thinking because they feel it threatens the validity of vertical thinking. This is not so at all. The two processes are complementary, not antagonistic. Lateral thinking enhances the effectiveness of vertical thinking by offering it more to select from. Vertical thinking multiplies the effectiveness of lateral thinking by making good use of the ideas generated.”
The Wedding Planner, for example, is good at providing all the services and products related to weddings and the immediate events, even going as far as the honeymoon arrangements, and she gets paid a commission on all referred business within that limited time realm.
A good Joint Venture Broker, on the other hand, will see well beyond that to a strong mailing list that builds an ongoing, long-term relationship and proceeds to mutually benefit both parties over the years; that married couple will breed, buy houses, furniture, cell phones, and holidays, and fifty percent of them will get divorced. All those services can garner serious income for the broker and the service providers, while at the same time providing massive, additional value for the couple. The joint venture broker thinks out of the box.
A Joint Venture Broker is Focused on Back-End Income Sources
The traditional business owner is focused on his own products and services, to the exclusion of multiple additional sales and service opportunities. This myopic approach explains why, in my opinion, the average small and medium-size businesses out there only operate at about 10% of the potential net profit. A lateral thinking, Joint Venture approach can set up numerous back end income sources, all at 100% margin (we like to call them DollarMakers) within hours, days or weeks, thereby turbo-boosting income and differentiating the business from it’s competition, whose blinders keep them working too hard for too little.
Leverage and duplication can be systematically applied to virtually any business when the JV Broker applies this open mindset to the business services, focusing on providing the optimal ease and value for the customer and getting paid on all resulting transactions, much like owning multiple Toll Booths on thousands of bridges across the world.
Best of all, this can be accomplished with no money or risk, and surprisingly little time, since this involves leveraging existing resources. The Joint Venture Broker looks for links and partnership opportunities, and specializes in building a congruent flow of business.
When you think out of the box, you get out of the box, and unlimited opportunities suddenly start appearing all over.
