“Where Do I Find Good Joint Venture Partners?”

Joint Ventures are the most powerful wealth-building system ever discovered, as long as you work with the right people. Finding the ideal JV partners is crucial to your success.
How many JV partners do you need to get rich? Not many! As few as ten JV partners can make you very wealthy indeed. Sometimes, one person can change your life.

Because only 2% of the owners of small and medium sized businesses understand the concept of Joint Ventures and see the wisdom in paying generous commissions over the lifetime of the JV, it is not wise to “cold call”. Only work with people who understand the process and whom you know, or have been referred to you by trusted friends. When someone says, “Of course I know what a Joint Venture is”, ask him to describe the last ten JV’s he did and how much money he made. That will very quickly determine whether he has heard the term or actually understands it. I have HEARD of brain surgery…
If you’re expecting someone to pay you hefty commissions every month, make sure they are successful and actually have money! Look out for the red flags that indicate that someone is in financial distress – those same people will offer you exorbitant rewards for business and seldom pay. One red flag is people complaining about the price of gas, long distance calls, or asking whether you can meet them near public transport. (They don’t have a car! That’s OK in New York City, but generally it’s a sign of desperate a financial situation.) Another is when people have a problem with a relatively small amount of money, like $500 for a Bootcamp – watch out! If they can’t afford $500, how are they going to send you thousands of dollars a month? And look at their grooming, dress, and where they choose to meet you. Be very selective.

Do your due diligence – check them out of Google, talk with their vendors, associates, competition, customers, neighbors, and fellow Chamber of Commerce or church members. Look for clues. If they’re desperate to start right away, they probably have cash flow problems. You are looking for stable, successful, professional, and respected people to work with. Desperate people do desperate things. Birds of the feather flock together, so check out their flock. Look for people who are on time, reliable, presentable, open, relaxed, and successful.

Personally, when I immigrated to Canada, I had a difficult time finding successful people with whom I wanted to Joint Venture. I met a lot of losers, posers, and scammers. I had to work hard to find JV partners. I found the local networking meetings and Chambers of Commerce consisted of 90% desperate, self-employed salespeople with no money, and only 10% successful entrepreneurs, who usually didn’t show up because they were too busy making money. I tried consulting and training to evaluate my clients as potential JV partners, but most of them were losers, so I fired them all and started the DollarMakers Joint Venture Forum two years ago. Today we have over 500 Members in nine countries. The purpose was to create a group of potential JV partners.

Our Forum Members have all agreed to abide by our Code of Business Ethics and all of them are to some degree educated about Joint Ventures. I personally only do business with Members of the Forum. If they are dishonest, they get fired. We have fired eight Members and not renewed fifteen. We have refused admission to many. Do you still have to do your due diligence? Sure you do. Are they all successful and expert? No. But at least they know more than 98% of the average business owners out there, and there is a consequence to dishonesty. Nobody wants over 500 people to find out that they were fired for their dishonesty. All our Members have expressed an interest in doing Joint Ventures. This can save you an inordinate amount of time when seeking a JV partner – look at someone’s profile and website and choose. Many Members are highly skilled in JV’s and are ideal JV partners for you. We have some wonderful Members. You can search the Membership for your ideal partner, then do your due diligence. This will fast track your progress as a JV Broker.

Finally, watch out for people who hide behind the Internet, those who specialize in offshore, tax-evading schemes, and situations where it is difficult to do real due diligence. When people are vague about what they do (usually involved with some type of investment) you should be very careful. The best Members to do business with, I find, are those who have attended our Bootcamps or used the Home Study Program, and/or get involved with other Members through our meetings or conference calls.

Step One: join the DollarMakers Joint Venture Forum.
Step Two: get educated about JV’s – we have a great Home Study Program as well.
Step Three: take action and start doing JV’s.

Robin J. Elliott www.DollarMakers.com