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A Joint Venture is a simple concept that requires a little bit of knowledge in order to act upon tactfully and effectively. It's also a little hard to explain to those that are coming to the concept blind.

Entrepreneurs and business owners form Joint Venture partnerships to “solve problems” such as:

• getting more customers
• getting more distribution
• getting more resources
• increasing closing ratios
• getting customers to spend more or buy more often
• getting customers to refer more business
• retaining customers longer
• reactivating dormant customers

…or “achieve goals” such as:

* increasing a business’s cash flow or bottom line profit
* building a business’ passive or residual income


In a nut shell, a Joint Venture is when:

1.Two or more parties bring something to the table.

2.They create something of value that is more than what they could have done alone.

3.Both parties gain something from the value created.

The people who succeed best at Joint Ventures understand that they get well paid for linking people with solutions. You don’t have to be involved in the deal – you can introduce two other parties, triangulate the deal and be well paid. Paul Getty said, ‘I would rather get 1% of the efforts of each of 100 men than 100% of the efforts of one man.’ By taking a piece of the profits on every transaction that results from a JV that you set up, you create ongoing, passive income for yourself.

And setting up a web of lucrative deals can be as simple as doing it as you go. When you respond to a need and make a referral, which you do every day, simply monetize the transaction and build in residual income wherever possible. And in many cases, the reciprocal value doesn’t have to be money – you can trade anything, as long as the one making the money reciprocates!

By Robin J. Elliott
www.DollarMakers.com