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.
