Got Some Bathwater to Throw Out? Why not Add a Baby?

We’ve heard the old saying, “Don’t throw the baby out with the bathwater.” It amazes me that people do this all the time. They burn the wrong bridges, too. We’ve all done it when we were young and immature, and when we believed we were invincible and that we would live forever and didn’t need anybody. But as we get older, we realize the futility of the quick buck, overreaction and clogging the old drain with a baby.

Recently, a Joint Venture Partner who was paying me thousands of dollars a month in commissions, showed his true colors by getting greedy and cutting side deals with others, in spite of the fact that he had agreed not to do this. He also welched on a commission payment. I walked away from him and left him to his wily ways, and he lost all future business from me. Since then, I estimate he has lost around $90,000 in business that he would have received from my referrals. Greed and pride are the enemies of successful business relationships. Self-discipline, honesty, and generosity build strong relationships and bridges that can carry a lot of money traffic through the years.

Impatience, arrogance and desperation often cause people to fling the infant out with the bathwater. When you see people overreacting and getting overly aggressive about unimportant things, realize that they’re probably in financial difficulty. That’s why it’s important not to rely on sensible, levelheaded responses and choices from emotional, cash-strapped people. Avoid them when considering potential JV partners. They’re more likely than others to lose perspective and justify unethical behavior. Situational Ethics reign in their world.

Successful Joint Venture Brokers understand the big picture; they don’t compromise when it comes to integrity, but they remain human, forgiving, and flexible. They learn to roll with the punches and they’re very selective whom they work with. They seek relationship, trust, and loyalty before the fast buck and instant gratification. The most successful JV Brokers I know don’t forget who hurt them and they don’t forget who helped them. They don’t tolerate dishonesty and they blow up bridges between themselves and losers, while building and maintaining bridges to good people. They nurture good relationships like a baby. They don’t end a million dollar business relationship for $1000. They maintain perspective and build strong foundations for the future.

Robin J. Elliott www.DollarMakers.com