Dollarmakers.com BLOG

Sunday, February 05, 2006

Joint Ventures for Immigrants

As an immigrant myself, I understand the hopes, fears, dreams and unique problems faced by immigrants, no matter where they are in the world. Immigrants often face challenges that only other immigrants can understand. Often their qualifications are not accepted or they have no local experience, so they accept whatever they can get. Having worked with hundreds of immigrants, I know how hard it is to start all over again.

Immigrants don’t always understand the culture in their new home. They might be afraid of risking their savings. They often don’t realize just how different things are in this new world. They sometimes face racism, xenophobia and people who take advantage of their vulnerability. They want to be accepted and blend in to their new environment, but it can be very strange and difficult. Money problems can lead to loss of self respect, shame, relationship problems and withdrawal. I know of a number of immigrants who ended up divorced from their spouses, their dreams crushed. Others lost their savings and will have to work until they die – UNLESS THEY FIND AN ALTERNATIVE.

The good news is that any immigrant, in any country, can use Joint Ventures to create an income fast, with no money or risk, no database, no business experience and no connections or support system. Just like I did. You don’t need money, reputation or inventory. As long as someone else has it, you can access and leverage it, if you know how. When I got to Canada, the condominium agent didn’t want to rent me an apartment because I was new in the country with no track record or credit record here! Talk about starting over. I got a friend of mine, the head of the US Peace Corps for Southern Africa, to send tem a testimonial. That worked. Ridiculous, but that’s what many immigrants face. You can’t get a job, because you don’t have “Canadian experience”. Chicken and egg. But I didn’t want a job – I didn’t need one! You don’t need to accept a minimum wage job or drive a cab or kowtow to some idiot boss. You can create multiple streams of income and financial independence using Joint Ventures. Don’t buy a business. Don’t get a job. Get smart. Use Joint Ventures.

Joint Venture Brokers leverage other peoples’ money, credit, reputation, resources and access. The monkey they earn is 100% profit. And they get all the tax breaks that any other business gets. They don’t sell time, they take no risks and they carry no overhead. They can live in a cardboard box and use a pay phone. They don’t have to sell anything. All they do is link people up with businesses supplying the products or services they want and need, and get well paid for it – win/win/win. They have a JV mindset and build bridges between supply and demand. Anyone can do this. Immigrants have the courage to leave their comfort zone, home and friends, security and support system. They are courageous. They richly deserve the rewarding world of Joint Ventures.
Robin J. Elliott www.DollarMakers.com

Joint Ventures for Coaches and Consultants

Many Coaches and Consultants experience the "feast or famine, chicken or feathers" ups and downs in income - they're either out there selling, or they're delivering. This results in a yo-yo income. They have to deal with busy times and quiet times and increasing competition, and, because they're selling time, they have limited income earning capacity. Many clients regard the consulting or coaching service as a luxury that can be terminated as soon as cash flows get tight. In addition, the popular perception of coaches and consultants leaves a lot to be desired, which is quite understandable, given the fact that many who use this label are about as valuable as a rotten peach on a busy sidewalk.

How do I know this? I was a consultant for eighteen years. And I’ve specialized in Joint Ventures for small and medium businesses for nineteen years. The solution to increasing your coaching or consulting business as well as income from other sources, while at the same time differentiating yourself from the herd, is Joint Ventures. It's a great fit and a great complement to any coach or consultant's business. Use your insight and communication skills to create lucrative JV's. Have the money and the time to enjoy it, as well as the luxury not to rely on your income from consulting or coaching. This is exactly what I did. I no longer sell my time as a consultant, but this information has worked for me for eighteen years and it will work for you.

First, understand that you do not have a 100% profit margin, which you do have from Joint Ventures. Second, know that you cannot possibly be all things to all men. Third is the hardest – getting rid of that giant ego. I think ego is the enemy of coaches and consultants. Business is not about sales or being well known – it’s about bottom line, after tax PROFIT. You have the ability to cut through the BS and guide and direct people. You can gain their trust. You are a good communicator and you have an understanding of business and human nature. These are very powerful skills and tools in the hands of a Joint Venture Broker.

If my doctor called me last week and informed me that he had a great deal on heart bypasses, I would get worried. Instead, he examines me and points me in the direction of a solution or relief. That’s real business. “Find a need and meet it.” In a room of 20 “Business Networking” people, not everyone wants a coach. But they all have needs, hopes and dreams. If you’re there to make money by helping people, why not simply link these people, be they clients or prospects, with the solution to their needs and get paid for it? When they want a new car, why try to sell them coaching, instead of introducing them to a good realtor and getting paid 20 – 50% of her commission? Easy money, no time, no risk, 100% margin. Think about it.

Business consultants can make a lot more from triangulating JV deals than selling their time. Become a “Toll Gate” – something like Bill Gates. Create solutions that pay you well. Leverage other peoples’ time, resources, money and access. Something like Ari Onassis. Think about that!

Robin J. Elliott www.nomoneynorisk.com

Can Realtors Use Joint Ventures?

When Rika and I sold houses years ago, we did well. Because we used Joint Ventures. The first house I sold, I hadn’t even seen before. Worse still, I had never even read the contract. I got buyer to help me understand the contract! We sold a lot. How?

How can hard working realtors differentiate themselves in a very competitive market, dramatically increase sales and create multiple, additional streams of residual income at the same time?

First, we used simple Joint Ventures to access the right demographic. You don’t need the access to people as long as someone else has it. We piggybacked our marketing on existing distribution and used Host Beneficiary relationships. Then we used massive, added value to differentiate ourselves, again leveraging other peoples’ resources at no cost or risk to ourselves. You don’t need to own a cow in order to get milk. And you can get the milk at no cost, if you know how to offer real and compelling reciprocal value. Most importantly, we never “sold” – we solved the buyer’s problems. And we had no shortage of inventory because we worked with our “competitors”. Only the egotistical, vain and stupid are afraid of their “competition”. And I didn’t use a 15 year old photograph of myself on a business card or the back of a bus. We were real people. Slick is scary.

We branded ourselves effectively, again using JV’s, so that we weren’t some unknown quantity. We were known and respected by leveraging relationships and exposure. So trust was never an issue for our prospects. Best of all, we created multiple streams of income, a serious back-end that far exceeded the commissions we earned. Fifteen businesses partnered with us to meet the needs of our clients and even those who didn’t buy houses from us.

The Joint Venture mindset is far removed from the “self employed salesperson” we see so much of today. It’s based on Zig Ziglar’s premise, “You can get anything you want out of life, if you’re prepared to help enough other people to get what they want.” It takes a bit to get used to and understand. Knowing about something and actually using and understanding it are worlds apart. But, once you start using it, everything changes, including, I’m pleased to inform you, your bottom line. This applies to any business or profession. You don’t have to try hard to persuade a starving man to eat.
Robin J. Elliott www.DollarMakers.com