There’s a business building secret that only 1% of all businesses fully understand and use.
It’s so dead simple…but because of the mindset surrounding the use of this secret…all of the wannabes and less informed business owners won’t use it.
In other words, it actually takes guts to use this.
If you don’t have guts…you will not accelerate the growth of your business at the frantic pace that this secret allows.
Do you have the guts? Can you handle the truth?
- Could you give up most of your profit to earn profits that you didn’t have…and had to do little work to earn those in the first place?
- Can you talk to people?
- If not…read no further.
The secret I am referring to is the use of Joint Ventures to accelerate the growth of your business.
The concept of using JV’s is nothing new, in fact it’s been around for hundreds of years.
There are several reasons that more business owners (online and offline) don’t make good use of this extremely powerful business development secret:
- Ego. Once again, the ego of the business owner, thinking they can do it all themselves…gets in the way of success.
- You have to part with profits to JV. While you wouldn’t have made the money you receive by doing a JV in the first place (big concept there), many business owners have a hard time overcoming the urge to make their full profit margin.
- The “JV Mindset”. 99% of all business owners DON’T have the proper mindset when considering a joint venture…so they miss out on the benefits of successful JV’s.
There are more reasons why owners don’t make better use of JV’s…but these 3 above seem to top the list.
Let’s explore each in more detail…
Big business killer here. Many business owners develop this “mentality” that because they started, built and developed their business from the ground up…that they are the only ones with the answers for that business…because their business is too unique to use a common powerhouse marketing strategy like JV’s to grow.
What a crock of shit. If you’re one of these business owners that think your business is “unique” in your marketplace…get over yourself. During tough times, this mindset will actually kill your business. In fact, our current recession is peeling off “big ego” businesses like a potato (American automakers anyone?).
Let’s move on to number 2…
#2 Parting with profits to earn profits you never had.
The common thread with this reason not to use JV’s usually lies with the business owner’s misunderstanding of business growth.
Just because you profit on a transaction, or a series of transactions, doesn’t mean your business is growing (American automakers again, anyone?).
If you keep devoting your efforts to earning the most profits for your business alone…your business will wither and die. Period.
Business is, and always will be about people, people.
When you build a business, your focus needs to incorporate as many forms of leverage and profit streams as possible…not as much profit per transaction as possible. The people who challenge this simply don’t understand that when you set up a Joint Venture partnership correctly…and that partnership brings you even the smallest of profits…
You never had those profits to begin with, nor could you have gotten them unless you leveraged the efforts of your JV partner in the first place.
Your business would have carried on…without that particular profit stream.
And…the really silly thing is…you could have had those profits for a very small investment of time and effort yourself (if any at all… besides saying “Yes, make me some money please!”).
On to number 3…
#3 The JV Mindset
95% of all business owners will never make this simple mental shift…ever…and it’s really sad.
If all you did was focus on JV’s as a marketing strategy…and did them correctly…you would never have to enlist another paid marketing strategy again, ever.
Your business would grow by leaps and bounds effortlessly, with almost no risk at all, and you could literally sit on the beach sipping your favorite beverage while the world turns and your business grows. Period.
The shift in your mindset that needs to happen starts with removing the insecurities that lie with involving people in your business…or thinking you have to “do this all yourself.”
Yes, there is a small risk with “checking someone out” before letting them inside your business operations…but contrary to what the media portrays…
98% of all people are honest…and would love to help you in a mutually beneficial profit opportunity. And therein lies the second mindset shift you need to make…
Mutually beneficial means you have to help the other person too…and for no immediate profit. The leverage you produce by partnering with others will explode your profits and transform your business forever.
So get to it…or call me when the money runs out.
Until the next time we look in the mirror together,
P.S. If you need help negotiating a Joint Venture, and can wrap your head around the concept only a little…contact me via email…and I can help you get it done. I only charge a reasonable fee to teach you, or a commission to help you put the deal together itself.