The most lucrative Joint Venture one can engage in usually involves a Center of Influence.
- This is a person who has the respect, admiration, trust, cooperation, and attention of a large group of people with whom he or she regularly communicates.
- This database of people is strongly inclined to follow the directions, instruction, advice, and suggestions of their leader, and they often do so blindly, as do most sheep.
And herein lies the challenge:
There are some dishonest and psychopathic centers of influence that misuse and abuse their power and their people, selling their loyal followers pigs in pokes, and taking advantage of their position of power to the disadvantage of their flock. One wants to identify and avoid these centers of influence like the plague.
You will be judged by your associations and the company you keep, and aligning yourself with con artists is financially tempting, but is as unwise as eating chocolate cake doused in strychnine.
The Most Valuable Activity of Any JV Broker
Seek out the honest and sincere centers of influence.
I would rather spend $2,000 working on a relationship with one genuine center of influence who has integrity, than reach hundreds of individuals who are not centers of influence. Those who have successfully Joint Ventured with good centers of influence know how valuable those relationships are. This is BY FAR the most valuable activity of any JV Broker: finding and pitching centers of influence.
7 Pointers for Gaining Top Notch Associates
Here are seven pointers that you would do well to be aware of:
#1 – Not everyone who has a large database is a center of influence.
There are characters lurking on the Internet who have plagiarized lots of information and built large opt-in databases under false pretenses – those databases are usually low quality, and your hit rate and conversion rate will be very low, while those you do convert will be low quality, too.
You want a high quality relationship between the center of influence and his or her people, and a high quality person in the database. Quality is more important than quantity.
#2 – Centers of influence can lose their credibility…
…with their flock as the products, services and investments they sold their followers prove to be scams at worst, and empty promises at best. The chickens come home, as it were, to roost.
Be on top of things and be current in your information about your target centers of influence. Things change, and there are a lot of posers and has-beens out there. Some centers of influence are on their way out.
#3 – All centers of influence are busy
…and what we hate more than anything else is an MLM type that sells lotions, potions, swill, and pills, snake oil and weight loss products, magic drinks, and overpriced vitamins and placebo effect products.
Realize that JV’s that involve the aforementioned and start-ups, unproven, miracle investments, gold mines in far-away places, and property/real estate “investments” in volatile, unstable third world countries are not JV’s most intelligent and honest centers of influence will even consider. We hear a lot of hype, and we have “BS Detectors”.
#4 – Don’t be intimidated by a center of influence.
They all want more money, and they all realize they can leverage their database. And they’re all looking for good, solid, lucrative, and viable JV’s that don’t involve cost, risk, or time.
#5 – Your Presentation:
Look, act, groom yourself, dress, and present yourself at least at the same level of professionalism as your prospect.
Showing up badly dressed, unshaven, covered in cat hair, answering your cell phone in the meeting, surreptitiously glancing at your Blackberry or cell phone every few minutes (usually the sign of a lack of discipline and/or desperation), being unprepared, or smelling of tobacco, will simply irritate your prospect and end the meeting before it begins. And if you’re overdressed (glitzy, embroidered French cuffs, bling, big mouth, loud, ostentatious, aggressive and egotistical), you simply reveal that you’re intimidated, nouveau riche, or stupid. (Or all three.)
Be demure, professional, high quality, self confident, relaxed, and focused.
#6 – Your Offer and Approach:
Your offer has to be sufficiently financially rewarding to get the avid attention of your prospect.
- Get it in writing. Click here for information about writing up an MOU, otherwise known as Memorandum of Understanding.
- Run it by your lawyer. I use Pre-Paid Legal and save a fortune on lawyers.
- Be very specific.
- Be concise and to the point, and remember that you have little time and only one opportunity to make a good impression. Talk about the bottom line and the time it will take to deliver the profit.
- Also mention who will control the money. This can easily be a deal breaker.
- Do your homework and position yourself.
#7 – This is a JV between equals.
…and you’re not a sales person or employee, so don’t act like one.
Be prepared to walk away from the deal. No center of influence wants to deal with someone who is in financial distress or under pressure to make money.
By seeking out solid, professional, and honest JV partners, you build your financial future on a firm foundation. Be selective, patient, and focused, and the sky’s the limit when dealing with centers of influence. DollarMakers is built on JV’s with good people.