Joint Venture Brokers are not glorified salespeople; they’re middlemen, or catalysts.

Know Who You’re Talking To

Recently, we endured the usual frustration when approached by a character in Ireland who wished to “Joint Venture” with DollarMakers. Before I got onto the conference call, I did due diligence on him, Googled him and his company, and had a good look at his websites. He had a large, successful business.

Recognize and Heed Red Flags

When he got on the call, he admitted that he had “briefly scanned” our website. Big red flag waving wildly, right there. As the call continued (I hesitate to say, “progressed”), it became obvious that this rascal wanted us to promote his services to all the world, and he even grudgingly agreed to pay us a commission, however when it came to promoting DollarMakers, he got stuck. He was unfamiliar with the proverbial “two-way street”. He was not convinced that “reciprocity” was a good thing. Why in the world would I promote, introduce, or even acknowledge another business service, even though they could undoubtably contribute value to our database, without his reciprocal promotion of my business? The call ended fast.

Insist on a Mutually Supporting Deal

This is where it actually gets dangerous to play this one-sided and arrogant game: this man in fact insulted me and my business, and I will never, under any circumstances, do business any with him in future, or in any way endorse his business. Instead of creating an ally and a Joint Venture partner, he succeed only in creating an enemy. As DollarMakers continues to grow and flourish, we become more and more attractive to potential Joint Venture partners. This weasel has effectively excluded us from his selfish an limited little world.

A True Win/Win

Every Joint Venture has to be WIN/WIN, not win/lose

…and remember that it’s not about what you do now, or how big you are now, but WHO you are, because that determines how big you WILL be. Pride come before the fall. Seek to reciprocate fairly and honorably in your Joint Ventures, and be very selective when choosing your Joint Venture partners, and your success is ensured.

The truth is simple, yet very uncomfortable for certain people. Those who succeed magnificently in Joint Ventures and make big money are not necessarily smarter, better experienced, or better connected. A good example is the fight I watched on ESPN last night: Jose Luis Castillo vs. Sebastian Lujan.

• From Boxed Ears:“Round 10: for Lujan: Lujan has thrown over one thousand punches in the nine previous rounds. He is a workhorse. Lujan is clowning and waving Castillo in over and over. He is so confident that he is willing to do anything.”
• From 15Rounds.com:“Lujan threw punches in bunches to put it mildly as the punch stats read Lujan landing 387 out of 1208 punches while Castillo could muster just 154 of 530.”

Be the Guy Who Throws More Punches

That’s it. Lujan throws 1208 punches and lands 387 of them (32%). Castillo only throws 530 and lands a mere 154 (29%). Even if the percentage of blows landed by Lujan was much lower than that of Castillo, Lujan would have won, simply because of his massive amount of activity / action. Two salespeople compete, and one has a much lower closing ratio, but sees three times more people, so in spite of his inferior skill set, he wins hands down. It’s not about skill; it’s about the dreaded WORK.

The Two Reasons People Fail

For people who insist upon success and are prepared to work hard, success is guaranteed. I had a salesman that wasn’t producing, and one day I called his house and found out that after attending our 8am sales meeting, while other salespeople were out beating the bushes, this loser went home for a BATH. His wife told me. I call someone on the east coast at midday Pacific Time and he admits that he has only just checked his e mail – at 3pm! No wonder he never gets anything done on time. Probably out clubbing the night before.

“The heights by great men reached and kept were not attained by sudden flight, but they, while their companions SLEPT, were working upward in the night.” If you knew that if you didn’t make a deal before tomorrow you would be beheaded, how hard would you work? When would you quit? In Joint Ventures, there is NO excuse not to succeed if you’re sufficiently driven and ambitious, because all the resources you need are readily available. The reason why people fail in Joint Ventures is only one of two things: You’re either plain dumb, or you’re plain lazy.

Defeat is not an Option

Lujan got into the ring with the right attitude, and he was determined to win, whatever it took. Castillo said before the fight: “IF I LOSE, I will retire.” There it is! He was already considering defeat! Paul J. Meyer said,

“Enter every activity without giving mental recognition to the possibility of defeat.”

And then, act accordingly – take determined, consistent, massive action, UNTIL you win.

Sometimes, ego, laziness, and fear will interrupt and skew our reasoning when prioritizing our profits.

The reason we’re in business is to create the maximum amount of after tax profit in the shortest amount of time, with the least cost and risk.

While we all want to do what we enjoy and avoid conflict and work, we can use Joint Ventures, subcontracting, effective delegation, and leverage to create the results we want, if we set things up correctly.

#1 Strategize Objectively

Remaining objective and rational when prioritizing and planning our progress is essential. Clearly defining what will create the greatest return on investment, where the optimal back-end is to be found, and the real marginal net value of a customer or Joint Venture demands careful analysis and communication with your team and mentors. Like a jigsaw puzzle, we want all the pieces to fit seamlessly, so that the flow of business is smooth and natural, not forced and stop-start.

• Diversifying incomes streams and creating additional back ends with long-term potential is the result of Planning, not Panic.
• Compromise and quick fixes will undermine your progress, your reputation, and your balance sheet.
• Remember the 80/20 rules and fearlessly remove the 80% while conscientiously building the 20%. Getting rid of one rat in your organization guarantees that he will takes his rat friends with him.

#2 Reevaluate Regularly

Reevaluate, change your mind, terminate non-productive activities, Joint Ventures, and people, and constantly adjust. You’re in business to make a profit, not to accommodate parasites and create protected employment for losers. Play the “What If?” game, build in Plan B’s, and have contingency plans in place, including Key Man Insurance and alternative suppliers. Things change. See the Big Picture.

#3 Invest in Education

Invest heavily in training and education, but only if you use it.  Look for the return on investment. The greatest ROI I ever get is when I invest in training and education, but then I always apply what I learn.

#4 Optimize Your Time

If you only have 24 hours a day, it’s because you’re not leveraged or you’re not delegating. Paying someone $100 to make $1,000 is good business. Don’t do minimum wage tasks and only deal with winners who have a proven track record.

#5 Take an Honest Look

Finally, stand back and take a good, hard look at your business, your time, your profits, and the future of your business. If this was someone else’s business, what advice would you give them?

How much money have you lost because you held back?

I decided there were many more opportunities to attend a specific networking meeting, so I took a break. My competition attended that meeting, in the rain, and got a deal worth tens of thousands that I would have got. Today that business is worth a small fortune. I missed it, because it was more convenient to stay home.

Does this sound familiar?

• I’m going to think about it.
• I’ll do it next time.
• There will be many other opportunities.
• I’ll attend the next program.
• I’m going to take a rain check.
• I’ll miss this meeting and do it next month.

Procrastination is the assassination of motivation. You snooze, you lose. Hugh Allen said,

“Jumping at several small opportunities may get us there more quickly than waiting for one big one to come along.”

Opportunities are never lost; someone will take the one you miss. “Nothing is so often irretrievably missed as a daily opportunity” says Marie von Ebner-Eschenbach. Time is money, honey. If you’re not there, someone else will win the prize, and over time that prize grows. Mark Twain said,

“I was seldom able to see an opportunity until it had ceased to be one.”

The inconvenient, pricey, difficult, and uncomfortable usually hides the most lucrative opportunity.

“I held a moment in my hand, brilliant as a star, fragile as a flower, a tiny sliver of one hour.  I dropped it carelessly, Ah!  I didn’t know, I held opportunity.”  ~Hazel Lee.

If that opportunity only made you a thousand dollars a month, you would have $24K in the bank within two years. Or nothing. Don’t justify laziness – it’s simply too expensive.

Successful people:

• Go beyond their comfort zones
• Pay the price
• Capture every minute
• Delay gratification
• Step up

Only three percent of people succeed magnificently, and it’s all about choice. Easy to do, easy not to do, as we learn from Jeff Olson. Small, consistent, good choices practiced daily, become a habit of success. Self discipline creates great self-esteem, and we earn money in direct proportion to our self esteem. Do the hard thing and get rich. Thomas Edison said,

“Opportunity is missed by most people because it is dressed in overalls and looks like work.”

Winners INSIST on success.

They push the envelope. They create their future and seize every opportunity. They don’t think of reasons why it won’t work, or focus on the cost. They consider the prize if it DOES work, and get excited about the potential. H. Jackson Brown Jr. said,

“Nothing is more expensive than a missed opportunity.”

I agree. Today is the day. Today is the first day of the rest of your life, and it will never return. The price of discipline weighs ounces, but the pain of regret weighs tons. Just do it. The block of granite which is an obstacle in the pathway of the weak becomes a stepping-stone in the pathway of the strong. Choose to be strong; you’ll always be glad you did.

The waitress called me “Mr. Elliott” and “Sir” instead of “Robin”.  In place if the usual plebeian, vulgar “you guys” we were referred to as “Mr. and Mrs. Elliott.”  And she crumbed the table down and  removed the cruet set and utensils before serving the dessert. How refreshing! Walt Disney said,

“Do what you do so well that they will want to see it again and bring their friends.”

Differentiate Yourself at Zero Cost

We tend to think that huge discounts or flamboyant packaging will add value and differentiate us from our competition, whereas small things that usually don’t cost anything can make a huge difference. The drivers of the shuttle service buses to and from the Long Term Parking at Vancouver International Airport used to be the most obnoxious, sullen swine I ever met, certainly not a reflection of what I consider the best airport in the world. Last week, Rika and I were very pleasantly surprised when we received cheerful greetings and sincere smiles from the new drivers, along with help with our bags. It costs nothing to train your employees and get rid of the scumbags, and the return on investment is most attractive.

Fabulous Examples!

WestJet crew members tell jokes, sing songs, smile, help, and obviously receive excellent training. They thank us for choosing WestJet; to me, there is no alternative, unless you want obese, unionized flight attendants who treat you like a smelly interruption. When I left my laptop on the plane recently, the WestJet flight attendant came running after me with it right into the Abbotsford terminal. Great attitude. A Thank You note in the mail, the Sears appliance salesman who shows up at my house the night before delivery, on his own time,  to make sure all the pipes are properly prepared. Nelson Boswell said,

“Here is a simple but powerful rule – always give people more than what they expect to get.”

We went to movies last week. Every employee was friendly and said, “Enjoy the show, folks!”

Here’s the thing: when you give great service, you feel good about yourself, you attract more business, you sleep better, and leave your competition choking in the dust.

People notice the small things, the compliments, the helping hand, the kind gestures, the extra mile, the sincere smiles and eye contact, a little extra care. What goes around comes around. Macy’s motto is,

“Be everywhere, do everything, and never fail to astonish the customer.”

The world hasn’t changed that much.

In every economy, in every industry, anywhere in the world at any time, there are people going broke and other people, in the same place, enduring the same economy, in the same industry, with the same government, becoming exceedingly rich. The difference is the way in which they perceive their circumstances and options, and the choices they make in response.

Why Change is Your Friend

Most business owners realize that there are dramatic changes taking place all over the world right now, which means huge opportunities for those who know how to use Joint Ventures. “Change is my friend,” says the savvy entrepreneur, and in order to change and take full advantage of the hidden benefits and opportunities surrounding us, it’s smart to use an objective, skilled Business Mentor to open doors that you never knew existed, to reveal riches of which most entrepreneurs are blissfully unaware, and to leverage underutilized and concealed, yet potentially highly lucrative resources and options.

An Alternative to Running with the Herd

Running with the herd into desperation, shortage, recession, and scarcity is not an option for those who insist upon victory.

Shout “YAHOO!” – You Always Have Other Options

– and find a Guide who is capable and willing to lead you along the road less traveled to hidden treasure.  Remember what Jim Stovall said:

“Only take advice from someone who already has what you want.”

…and Jim Addison wisely added that “you should never take advice from someone more screwed up than you are.” Experienced property investors know they should be buying when everyone else is selling – Conrad Hilton bought hotels during the great depression – and street smart entrepreneurs understand that you can get on the fast track by learning from the skills and mistakes of others.

Your Complimentary Consultation

Three highly trained, fully supported, locked and loaded DollarMakers Certified Business Mentors – Eric Li, Shauna L’Hirondelle and Darren and Monica Chambers are ready and willing to consider accepting YOU as their client. To see if you qualify for a complimentary telephone consultation with one of them, e-mail me robin@jvblogger.com. A Mentor is someone whose hindsight can become your foresight. Help is at hand!

A wise man once said,

“If you had a hundred lazy, ineffective, needy, and unprofessional people working for you, you might realize that you would spend your time more wisely if you had ten good men who were driven, disciplined, and determined to accomplish their goals.”

Your time is your most valuable resource, and it should be treated as such.

• Only do what only you can do.  Delegate, buy the time of others, avoid duplication and other unnecessary tasks, and demand a fair return on your investment.
• When your working partners regularly do not produce that which they agreed to produce, replace them.
• Use the technology available, make people come to you for meetings, and avoid a physical meeting unless it is absolutely necessary.
• Travel less, think more, and insist on results.
• Hold others accountable or withdraw your time.

De-fang Time Vampires

Time vampires abound. Those with the biggest mouths usually produce the least.

• Look at your time investments carefully before committing.
• Learn that most important word, “NO.” You don’t need to provide explanations.
• Limit meetings to thirty minutes and train your staff to intervene when necessary.
• Put a sign above your desk: “My Time Is Worth More than $1,000 per Hour. Waste It At Your Own Peril.”
• End phone calls as soon as possible; scarcity is valued. “You have exactly ten minutes.” At the end of ten minutes, end the call.

“We had a meeting. I spent my irreplaceable time on you. You didn’t deliver what you promised. Why should I waste more time with you?” Get serious, get tough, and you’ll get rich. The losers that you feel sorry for won’t thank you or help you when you’re losing money. Time IS money. It’s YOUR time; you own it, and you’re not obliged to give it away anymore than you are obliged to give away thousands of dollars. People have to EARN your time by producing results – on time.

Where Time REALLY Matters

Finally, time with your family, a good book, at a lake or beach, or on the ski slopes, is time well spent, and never wasted. When you look back on your life, you will remember how fast it went, how much you missed, and how impossible it is to get back. Spend it wisely – you only have one life. Time IS life.

Average people always deem the threat to outweigh the opportunity. They’re hooked on pain, and addicted to comfort. They are their own worst enemies. They say:

“I dig the ditch to make the money to buy the food to give me energy to dig the ditch”

…and they allow their fear to put their dreams in a wheelchair. Fear and faith cannot co-exist, anymore than winners and losers can.

Winners know…

• Winners know that it is always too late to quit.
• They understand that if your friend gives you poison, it will kill you, and that there are certain friends they can’t afford.
• They insist on success, and they strive for excellence in everything they do.
• The question is never “CAN I?” but rather, “WILL I?” and winners don’t compromise. Mediocrity and compromise are the selfish pursuit of losers.
• Winners will not tolerate excuses and slothfulness.

An intelligent person will not allow someone else to steal their hopes and dreams, anymore than they will allow them to attack their family or rob them.

By allowing losers into your life, you hurt your friends and family, just as surely as if you invited a wolf among the sheep.  One doesn’t mix rotten fruit with fresh fruit, or poison a well.  Parasites will contaminate your life and business; they are a cancer that you should avoid at all costs.

Definition of Freedom

On the recent DollarMakers Certified Business Mentor training program, I showed the Mentors the movie, “The Fountainhead”. It is available for sale from Blockbuster Video, and I highly recommend it, and the book by Ayn Rand upon which the movie is based. In the movie, the heroine says,

“Freedom means to want nothing, to expect nothing, and to depend on nothing.”

This is a far cry from the victim’s mantra of the losers, who expect producers to carry them, pay for them, and support their bad choices. Shun them as you would a leper, or they will steal your joy and your ambition like the thieves they are.

Take Stock

Look at your circle of “friends” and decide who needs to be evicted and who needs to be drawn closer. Constantly audit your social life and be sure to seek out those who are the creators and the producers, the innovators and the winners, while removing the leeches and the snakes, and you will find yourself attracting wealth, wisdom, health, and joy.  Success is by choice, not by chance; we win by design. Shun the commonplace, and go for the gold medal.