| Before approaching anyone to do a Joint Venture, | | | | a salesperson or an employee. You are their equal. |
| you should have done your due diligence and | | | | You will not be managed or controlled – you will |
| established the integrity of that person. That’s | | | | collaborate with them, and you will remove the risk |
| why we encourage our Members of the DollarMakers | | | | and cost and time barriers to them doing business |
| Joint Venture Forum ( to work only with other | | | | with you. The return on investment has to be good |
| Members, who have agreed to abide by our Code of | | | | for both parties, not one-sided. Many of our |
| Ethics, instead of strangers. That is also the reason | | | | members initiate the first meeting by sending the |
| why it is in our Members’ best interests to grow | | | | potential Joint Venture partner a copy of my book |
| the Membership in order to expand their Joint | | | | and referring them to their Replicator Joint Venture |
| Venture partner options. Doing your due diligence | | | | website. This sets the context and educates the |
| might mean a Google, a credit check, a Better | | | | prospect prior to your meeting. |
| Business Bureau check and even a police check, as | | | | “If I can bring you closer to attaining your goals, |
| well as talking with their competition, suppliers, | | | | what specific remuneration can I expect per |
| vendors, landlords, customers, neighbors and staff. | | | | customer / order / event?” Do not reveal your |
| Once you have established the integrity of your | | | | modus operandi, your sources, or your action plan or |
| potential Joint Venture partner, learn as much as you | | | | give them the names of other Joint Venture partners |
| can about their business from the same sources, so | | | | before getting the agreement in writing. Be very |
| that you are well prepared and knowledgeable about | | | | specific, make notes, and beware those red flags: |
| their business, demographic marketing target, profit | | | | - They don’t make eye contact when they |
| margins, problems, aspirations, strengths, and | | | | shake your hand. |
| weaknesses. | | | | - They’re late for the meeting or late responding. |
| Here’s the kind of approach I would use. I would | | | | - They take calls during the meeting. |
| make sure that my packaging is intact, so that I can | | | | - They talk down to you. |
| project credibility, focus, professionalism, integrity, | | | | - They offer you ridiculously low incentives or |
| and success. Then I would deal only with the owner | | | | commissions. |
| or decision maker. My approach would be based on | | | | When you get a gut feeling that you are dealing with |
| what I had learnt about them and I would ask them | | | | the wrong person, LEAVE. YAHOO! You Always |
| questions like, “What is it that you want for your | | | | Have Other Options! |
| business? What problems do you need solved? What | | | | Be very specific. People who say, “I’ll see |
| goals do you have?” before I start telling them | | | | you around nine” or “About a week from |
| what I can offer or what I know about them. You | | | | now” or “More or less 20%” are playing |
| learn by listening, not by talking. Once they start | | | | games and manipulating. If they refuse to be specific |
| telling you what they want and you interact with | | | | and commit, walk away. You do not need them. You |
| them, they will quickly realize that you have done | | | | are not attached. Hold them accountable to what |
| your homework. | | | | they agree to. Make sure you can back out of any |
| Remember that your target has no interest | | | | Joint Venture at any time should you discover that |
| whatsoever in you or your goals or problems; they | | | | you’re dealing with losers. Do not be awed by |
| are only interested in themselves. You are there to | | | | the appearance of wealth or success. |
| help them to get what they want, and you expect | | | | This mindset has made millions of dollars for Joint |
| to be well paid for solutions you deliver. You will get | | | | Venture Brokers. Be strong, professional, committed, |
| that in writing. You will not be desperate. You are not | | | | focused, and sincere. |