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"Doing Joint Venturing is Much Easier than People think it is"

Darren Jacklin
Trust The Process Events
Kelowna, British Columbia
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"This bootcamp was extraordinary,
it's helped to find my career"

John Su
Imperial Investment Realty Ltd
Edmonton, Alberta

The Definition of a Joint Venture

Joint Venture Expert Robin J. Elliott defines a Joint Venture as “…a win /win collaboration between two or more people, sharing resources to solve common problems and achieve goals. No limits, no catch, no selling, no manipulation, no risk. It can be called a Strategic Alliance or Partnering as well.”
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Definition of a Joint Venture
"Joint Venture" Explained in Detail
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. 
Often Joint Ventures can be successful without consulting a law firm if both parties have the same basic understanding of the agreement.
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:

1Two or more parties bring something to the table.

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

3Both parties gain something from the value created.

Robin J. Elliott states in his book Joint Adventures, “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. In his Blog post “Understanding the Concept of Joint Ventures,” Robin J. Elliott suggests, “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!”

Click here to read about a multitude of Joint Venture examples.

 

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