I am often shocked when people smirk and hiss at the length of the speech by John Galt in “Atlas Shrugged” by Ayn Rand, but then I realize that those who hate that speech have realized that it is, in fact, the very essence of a philosophy that exposes their own impotence and thievery.

Parasites don’t like to be called parasites, any more than losers like to admit that they are incompetent and impotent mediocrities.

When a looter looks in a mirror and sees himself for what he really is, he breaks the mirror.

A Speech For Winners and Producers

Winners and producers, on the other hand, love the speech, “This is John Galt Speaking”, and wish it were longer.

It:

• feeds us,
• sustains us,
• encourages,
• empowers,
• motivates us,
• is our bible,
• is our motto,
• is a reminder that we are on track to greatness.

We listen to that speech on CD’s and read it when we wonder if we’re the only people who see what is happening in a world that is falling fast into a deep fissure of socialism, mysticism, collectivism, and government control.

There is no public ownership of the mind. That is all we have, and it is all we need.

A Tool for Knowledge

If you want to know who people really are and what their philosophy is, get them to read this book, and this speech in particular.

Better to read the entire book, since it sets the correct context for the speech. Losers don’t even read, and if they do, they read junk, so they’re excused right at the outset.

Then, simply watch the reaction of the readers.The champions will love this book, re-read it, and embrace and promote the philosophy and Galt’s speech.

Are You A Winner?

Here’s a sample, to illustrate my point – watch your own reaction, and perhaps you will make a discovery of your own philosophy:

“The parasites who asserted that my brain and my life were their property…
The professor who, unable to think, takes pleasure in crippling the minds of his students…
The businessman who, to protect his stagnation, takes pleasure in chaining the ability of competitors…
The incompetent who takes pleasure in defeating achievement…
The mediocrity who takes pleasure in demolishing greatness…
The extortion of loafing relatives…”

Your philosophy will determine what you love and achieve in life. Be sure to choose a good one.

As entrepreneurs, we all know that a large database, especially if it is a real database which involves regular communication, value, and respect, is a goldmine. That is true. No doubt about it.

But we have also been taught that a large network is important when you need support in hard times.

That is only true of the good people in your network – the quality people.

Most people go to meeting with one of three objectives:

1. Can I sell this fellow my product or service?
2. Can I get him to refer me business?
3. Let’s just meet and exchange business cards so that we know where to find each other in the future.

There is a much higher, more sophisticated, more lucrative path to take.

My Objective for a Meeting

1.  Multiple Joint Ventures running simultaneously.

We understand how one Joint Venture can feed another and open new possibilities, how some fail and some work, so we’re always running a number of Joint Ventures at the same time with the least amount of time possible. We realize that we can create unlimited wealth through Joint Ventures.

2.  New Joint Ventures being added regularly.

We don’t sit back when we have a comfortable, residual income from multiple sources – we continually add new Joint Ventures. We are realistic and understand that Joint Ventures don’t last forever.

3.  Joint Ventures that are not working being aborted and scrapped regularly.

When we see that the Joint Venture or the JV partner is not working out, we don’t hesitate to walk away. Especially if we see dishonestly, greed, ego, or other agendas. We look for patterns.

4.  High standards and expectations.

We don’t look at small, impotent Joint Ventures, and we expect our partners to be as professional, production, and punctual as we are.

5.  Very selective whom they partner with.

We don’t deal with unknown people – we prefer to work on a referral basis. We do our due diligence and we’re careful with whom we associate.

6.  Specific requirements before considering a JV.

Simplicity, potential, time, risk, cost, integration possibilities, the people behind it and their track record and resources. We don’t leap blindly and emotionally into every new venture, because most of them are not good. They have to meet our standards to even be considered.

7.  Fast decisions, most of them “No.”

We don’t have to think about a JV for a long time – after getting the details, we make fast decisions. We stick to our commitments and get things in writing.

8.  Massive action taker.

We don’t sit around waiting for things to happen – we make them happen, follow up, make calls, take action, and WORK. We expect our JV partners to do the same.

9.  Professional, well-prepared, positive attitude.

We have high self-esteem and it is reflected in our grooming, dress, behavior, communication, the people with whom we mix, and our preparation and follow-up.

10. Always learning and helping others.

We are generous, friendly, and straight-talking. We like helping others to help themselves and we’re always open to learning new things.

1.  Multiple Joint Ventures running simultaneously.

We understand how one Joint Venture can feed another and open new possibilities, how some fail and some work, so we’re always running a number of Joint Ventures at the same time with the least amount of time possible. We realize that we can create unlimited wealth through Joint Ventures.

2.  New Joint Ventures being added regularly.

We don’t sit back when we have a comfortable, residual income from multiple sources – we continually add new Joint Ventures. We are realistic and understand that Joint Ventures don’t last forever.

3.  Joint Ventures that are not working being aborted and scrapped regularly.

When we see that the JV or the JV partner is not working out, we don’t hesitate to walk away. Especially if we see dishonestly, greed, ego, or other agendas. We look for patterns.

4.  High standards and expectations.

We don’t look at small, impotent Joint Ventures, and we expect our partners to be as     professional, production, and punctual as we are.

5.  Very selective whom they partner with.

We don’t deal with unknown people – we prefer to work on a referral basis. We do our due diligence and we’re careful with whom we associate.

6.  Specific requirements before considering a JV.

Simplicity, potential, time, risk, cost, integration possibilities, the people behind it and their track record and resources. We don’t leap blindly and emotionally into every new venture, because most of them are not good. They have to meet our standards to even be considered.

7.  Fast decisions, most of them “No.”

We don’t have to think about a Joint Venture for a long time – after getting the details, we make fast decisions. We stick to our commitments and get things in writing.

8.  Massive action taker.

We don’t sit around waiting for things to happen – we make them happen, follow up, make calls, take action, and WORK. We expect our Joint Venture partners to do the same.

9.  Professional, well-prepared, positive attitude.

We have high self-esteem and it is reflected in our grooming, dress, behavior, communication, the people with whom we mix, and our preparation and follow-up.

10.  Always learning and helping others.

We are generous, friendly, and straight-talking. We like helping others to help themselves and we’re always open to learning new things.

Bridges don’t collapse for no reason. And Joint Ventures don’t fail for no reason. A well-constructed bridge lasts a long time and does the job it was meant for, as do good business deals. The main reason why Joint Ventures don’t work are essentially very simple, and DollarMakers is designed to use our 22 years of experience to teach people how to create lucrative, long-term JV’s with no cost or risk, so that if something doesn’t work out, nobody gets hurt and we can all remain friends.

Seth Godin brought up some excellent points about where joint ventures can go wrong in his post “Why Joint Ventures Fail So Often” – however he does not provide any solutions other than to say ‘do something that requires more risk and causes you yourself to have a lot more at stake.’

Here are the 6 Top Reasons why Joint Ventures don’t work and their effective solutions:

1. Wrong premise or expectancy: If we assume things which aren’t true, have unrealistic expectations, or misunderstand certain market shifts or requirements, or if we misjudge buying trends or the choices of consumers, a JV won’t work. If set up correctly, with no cost or risk to either party, we can learn from the mishap and live to fight another day, as friends rather than foes. We’re not fortune tellers, and we can’t predict the future, but we can arrange our JV’s in such a way that we avoid any harm being done.
2. Wrong partners: If you’re dealing with weasels, parasites, losers, or conmen, your JV’s won’t work. Do your due diligence and be prepared to walk away as soon as you see the red flags. Again, if you roll out your JV in a small way before committing to a large launch, you can test your partners and the market before going big. In some cases, the JV partner is honest but incompetent, or he simply can’t handle the volume or demand when we have underestimated the response. A good “What if?” planning session with objective evaluations and checks and balances can help avoid that scenario.
3. Greed and ego: When one of the partners gets his ego in the way or gets greedy, things can go awry. Avoid this with solid agreements and contracts and work with mature, seasoned business owners, not incompetent upstarts who don’t know that pride does, indeed, precede the proverbial fall.
4. Insufficient planning and/or quitting prematurely: Often, we’re so excited and in such a hurry to get going that we neglect to plan the details and specify amounts and quantities, percentages and responsibilities, and things fall part because of that. Miscommunications and misunderstandings come from haste, and inexperience and a sense of entitlement, along with the desire for instant gratification result in quitting too soon, instead of tweaking and fixing what could be a lucrative JV.
5. Inconsistency and a lack of self-discipline break down trust and repel good JV partners. A good reputation attracts a good database and solid JV partners, which results in successful Joint Ventures. Don’t get involved with people who are not consistent – reliability and honesty, along with proficiency and integrity, are the mortar that hold good JV ‘s together. Both parties are responsible for the success of any JV.
6. Finally, communicate regularly and effectively. Losers hide behind excuses and don’t communicate well. Most flaws in any JV can usually be rectified through effective, adult communication and openness.

Joint Ventures are the most sophisticated way to make money, and people who genuinely understand Joint Ventures can make an unlimited amount of money with no cost or risk and little time.  Just keep the above 6 points in mind when executing any JV, and you’ll find yourself breezing through your JV’s.

• Are we affected by the people with whom we associate?
• Do we learn and lose by “osmosis?”
• Can it be that we earn within 10% of the people we spend the most time with?
• Have you noticed that the level of success of a person determines the level of people they attract into their lives?
• Are we, in fact, mental magnets?
• Is it true that we are being contaminated by our surroundings, input, and associations anyway, whether we like it or not, and that we get to choose our contamination?

Of course it is true.

Like Attracts Like

Like attracts like. Opposites repel. We are rightly judged by the company we keep, because your friends tell me who you are.

When someone hosts a Bootcamp, the people in the Bootcamp are a reflection of the quality of the host. People recruit people like themselves – the automatic mirror effect.

The Dangers of Third Hand Smoke

My wife is allergic to nicotine. She sat in the front seat of a car being driven by a friend, and a smoker got onto the back seat, still stinking of smoke from her last fix. Rika’s eyes were red for two days. Even though the smoker wasn’t smoking in the car, it was enough to contaminate the other passengers.

See this article about the dangers of Third Hand Smoke, and ask yourself if you will allow your children into the home of a smoker. Probably not, if you love your kids.

Input Influences EVERYTHING

I am contaminated by the books I read, the movies I watch, the people I meet, and the communications I handle, whether or not I want to believe it to be so.

• Positive contamination propels me like rocket fuel towards my objectives.
• Negative contamination poisons the well, dilutes my efforts, sabotages my work, and drags me in the opposite direction.

When I spend time with winners, I leave feeling buoyed up, motivated, inspired, and enthusiastic. After spending time with losers, I feel like I need ten hot showers and a mouthwash. Purge your life of leeches.

Do These Two Things

Monitor your input / contamination for a week, then do two things: remove bad stuff and replace it with good stuff.

That simple. Not rocket science. Not hard to do.

• Resign, as I did, from organizations, clubs, and fraternities that don’t share your philosophy and aspirations.
• Break relationships off with losers, whiners, parasites, and victims.
• Seek out champions and producers, and build strong relationships with them.
• Read good books.

Before you know it, you will feel like a million bucks. You’ll have more energy, bigger goals, and less frustration. Atlas, don’t hesitate to shrug when it’s appropriate.

The key to being a successful Joint Venture negotiator is to have the ability to walk away at any time during the negotiations, and if you threaten to walk away, you have to do it.

There is also a spirit to negotiating – if one party is continually taking and not giving, unreasonably inflexible, arrogant, or “talking down” to the other party, the JV will never work.

Changing the Agreement is Dishonest

Also, remember that changing the rules or moving the goalposts, in other words not honoring what you previously agreed to, is not negotiating, it’s simply being dishonest. Anyone who promises and doesn’t deliver isn’t negotiating; they’re stealing and lying. And if they can steal a few hundred dollars, they will steal millions, too – it’s who they are.

Watch out for cheap, tightfisted people.

Only Talk to the One in Charge

Negotiating with a middleman – especially one who hides behind the authority which they represent, seldom works; try to work with the person who actually has the authority to make decisions, instead of a puppet.

Look for Clues

During negotiations, you can get an insight into the character and values of the person you’re dealing with. Look for patterns, clues, honestly, small lies, and passive aggression. Con artists use greed (the big carrot), threats, bullying, and lots of details to confuse honest people.

Watch Your Emotions

Remain objective and emotionally detached during negotiations. Maintain a healthy dose of skepticism. Business, after all, is a game. You can remove the two emotional issues – risk and cost – with good negotiating skills. Watch your own “Greed Meter” carefully.

Walk Away When Your Gut Says

When you get a negative gut feeling about the other party, don’t bother to continue with the negotiations.

I recently made that mistake by getting involved with religious fundamentalists – they proved that they were totally irrational, and could justify the most ridiculous assumptions and blatant dishonesty by hiding behind their religious delusions. I will be more selective next time. One’s philosophy will drive ones choices and actions. We continue to learn. You can learn from my mistakes.

ALWAYS IN WRITING!

Finally, JV’s should be comfortable, fun, profitable, and very clearly communicated, which means IN WRITING. After a meetings, send the agreements in writing and make sure everyone understands the terms and conditions.

Months down the line, people get selective memory and amnesia. Each party is solely responsible for themselves, and the “blame game” can be avoided if these responsibilities are clearly defined – in writing.

You have millions of options in the world of Joint Ventures – be selective, because you can afford to be. An ounce of discipline is better than tons of pain down the line.

If you’re unsure about how to do this, read this page about how to write a Memorandum of Understanding, otherwise known as MOU, which is a basic Joint Venture agreement.

Why It Pays to be Generous

If someone is comfortable with 10%, don’t try to negotiate 15% – they will be uncomfortable and sabotage the deal or undermine it. And if they’re happy with 10%, offer them 12% – the pay-off to generosity can be massive when dealing with the right people. Test your deals in a small way before launching them in a big way – “Take time to know her”, as the old song goes.

You Can Make More Money Walking Away Sometimes

Remember: You make more money by walking away from money when it’s “dirty” money. By that, I mean you can only earn dirty money by compromising your values and overriding your better instincts. If you’re not comfortable, don’t walk away – RUN – towards better deals!