Dollarmakers.com BLOG

Friday, February 02, 2007

Become the Only Act in Town in Joint Ventures just like the Flamingo

Robin J. Elliott shares why a Flamingo is different, and how you can be a Flamingo to stand out in a crown, become the only act in town, and have everyone wanting to do business with you. All using Joint Ventures.

Find out about Joint Ventures for Passive Income now!

Why You NEED Multiple Sources of Passive / Residual Income


Ever stayed awake at night worrying that you might lose your job or be passed over for promotion? Every seen changes in technology or competition or other events beyond your control cripple or hurt your business? Ever worried that you might lose your star salesperson or get sued by an employee? Every cursed the seasonal vicissitudes in your business or wished you were in another business? Ever wanted to hire a hit man to remove your competition that was forcing prices down? Ever lived in the real world?

What happens if you have all your income eggs in one proverbial basket and you drop that basket, or, worse still, someone steals it? If you’re selling your time and you get ill, break a leg, or want to go on holiday, what happens to your income? Do you wish you could just stop working and relax for a week or two, but you can’t afford to let go of the reins in your business? Is your overhead so high that you work for 24 days of the month just to cover costs? Do you worry about fires, floods, holidays and political changes, outsourcing and immigrant labor affecting your income?

Multiple sources of passive / residual income from different geographic and demographic areas and from different industries removes this worry, especially if all your income is 100% profit and you carry no overhead, employees, risk or cost of sales. Joint Ventures allow you to benefit from multiple other business and their infrastructures simultaneously. No more feast-or-famine, chicken-or-feathers seasonality, because different sources offset one another. With your overhead removed, you need far less to survive, and you don’t have to carry inventory or support employees. By spreading your risk, you increase your peace of mind and limit your exposure, while at the same time optimizing your income opportunities. You can create more value if you can offer more products and services. And JV’s allow you to spend very little time in setting up the deals.

You need multiple sources of income because in our ever-changing and very dynamic world, where new technology and a constantly shifting socio-political landscape means that change is the only constant, there is no security in being locked in to any one income source. A Joint Venture Broker has the freedom to continually create new cash cows and to build more and more tollbooths on the bridges he builds between supply and demand. Employees work IN tollbooths, while JV brokers OWN the tollbooths. When one income source dries up or disappears, there are many more to take its place. When currencies fluctuate, they are offset by income form other geographic areas. Nothing and nobody is indispensable, so nobody can control, coerce, or manipulate you. You are truly your own boss when you’re a JV Broker. You answer only to yourself. You can create ultimate financial freedom.

Robin J. Elliott www.DollarMakers.com

How to Sell


Increase your sales by using these simple and proven techniques.

Ask the prospect what they want. Then ask, “On a scale of one to ten, one being, ‘I don’t want it’, and ten being, ‘I want it VERY badly’, how badly do you want this?” Anything less than a nine, walk away. They must be motivated to solve their problem.

If your product or service can satisfy their need, ask, “If you knew without a doubt that my product / service can satisfy this need / remove this problem, could you make an investment decision, or would you need to discuss it with someone?” If they can’t make the buying decision, set up a meeting with the decision maker or walk away. (Do not discuss price until they know what the value is.)

If your buyer is motivated and can make a decision, find out how much the solution will make them in regards to return on investment and how much money it will save them, so you have a dollar value amount. For example, “If you were to implement this solution, you would increase your capacity by 15%, which would mean an additional $1,000 per month in net profit, am I right?” Or, “So you’re saying that the correct solution would save you $1,200 per month in losses? How much is that per year?”

Now take a piece of paper and write down one side, 1, 2, 3 through 10. Ask, “What has to be in place, what do you need to see, what questions must be answered to your complete satisfaction, in order for you take out your credit card or checkbook and invest in this solution right now? For example, I would imagine that the investment would have to be right, correct? OK we’ll keep that as the last point.” Write, “INVESTMENT REQUIRED” next to number 10 on your sheet of paper. Ask, “What else?” For example, the prospect might say things like, Risk, Delivery Time, Track Record, Color, Ease of Use, Training, Support… every time you get a requirement, write it down,. Don’t discuss it, simply write it down. If you have more than ten, keep on writing.
When he is done, ask, “Anything else? OK, so you’re agreeing that if I can answer all these questions to your satisfaction, you will invest in my solution right away, right?” If he says “NO”, say, “That’s OK – in my experience, when someone says, “No”, there are a few more requirements, what are they?” And write them down, too. Then repeat the question, “OK, so you’re agreeing that if I can answer all these questions to your satisfaction, you will invest in my solution today, right?”

If he agrees, start handling each point one by one, in the order that you have written them, handle each objection and at the end of each one ask, “Does that satisfy your requirement on this point?” If it does, cross it out on the paper and put a tick mark next to it. For example, point number two might be Delivery Date. You would ask, “You said the delivery date is important. What date do you require delivery? Fourteenth? No problem – we can get it to you by the tenth. Is that the correct answer? Fine.” Cross it out, add a tick mark. Until you get to the last point, then handle the investment (price.) Show the return on investment using the dollar number you calculated right at the beginning.

When all the points have been crossed off, it’s time to close the sale. Take out your order form and start to complete it. “OK, David, now I will need your correct delivery address in order to make sure we deliver to the right place. What is your street address?” (Assumptive close.) When you get to the end, ask alternative choice questions, where both answers are “Yes”. For example, “Would you be using Visa or MasterCard? Would you require delivery in the morning or afternoon?” Until you have the deal closed and paid for.

If the prospect resists the completion of the order form, say, “No problem. In my experience, when we have been through this exercise and you’re still a bit reluctant, there are still a few things you’re not yet quite comfortable with, am I correct, Dave?” YES. “OK. What are you still unsure about?” Take out a new piece of paper and down the side write 1,2,3,… 10. Repeat the procedure until he buys.

Remember, “NO” means, “Not Yet”. Keep on showing the value and solving his problems until he buys. You only lose when you walk away. When he buys, ask for referrals. Offer an incentive, a premium, a bonus, a discount or a commission, for the referrals you get. Don’t take referrals from people who don’t buy. If your prospect doesn’t invest, stay friendly, thank him for his time, and stay in touch until he does buy.

Good salespeople measure and work on their ratios, they ask for the sale and close and they take massive, consistent action.

Robin J. Elliott www.DollarMakers.com

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Robin J. Elliott www.DollarMakers.com