Negotiation of Joint Venture boards

When you want to negotiate the terms of a success, win/win Joint Venture, there are a few basic guidelines that I learned over the years that will help optimize the opportunity and maximize the chances of a joint venture with success that can lead to many others still. More important still, with the right approach, you build and maintain a good solid relationship, if the joint venture is successful or not!

First, do a lot of homework on the type of company you are dealing with, its unique problems, margins, challenges, back-end and its resources. You can use Internet, talk about the competition, read industry publications and talk with customers, suppliers and employees of the company. Also, talk to fellow members of the Joint-Venture Forum at your local meeting, on the Internet and on your conference calls only members. Six degrees of separation means that everyone knows people and you are looking for contacts that can accelerate your collection information and diligence.

Then, do serious research on the person with whom you deal. Naturally, you must be in talks with the decision maker. What is its "Hot Button"? What really, really want to have? What keeps them awake at night? What are their values, hopes, dreams, fears and aspirations? Why do they want what they say they want to? How many and what it will really be attracting their undivided attention? You need to design and customize the joint venture to take full advantage of this knowledge to provide the ultimate advantage, an agreement that is too good to be denied.

Is this person knowledgeable about the State of mind necessary to a joint venture with success? Give him the information of the Joint-Venture to prepare his mind. There are some free downloads, interviews and on http://www.jvwisdom.com you can use more. Suggest he joined DollarMakers Joint Venture Forum or attends a DollarMakers Joint Venture broker Bootcamp. Members have also made efficiency then give a copy of my book, adventures joint, to read to prepare for the negotiation.

Also, make sure that you reduce costs and risks of the two sides to the absolute minimum, as well as the time necessary to make it work. This by leveraging the existing resource instead of creating / buying / build new. In this way, if things don't work as expected, no one loses and the relationship is strong, without resentment or regret.

Obtain the opinion of at least two mentors respected, Mastermind partners or Fellow Joint Venture Forum members present your case to your potential joint venture partner.

Finally, everything in writing. It clarifies the issues and responsibilities, duties, payments, time of payment, conditions and expectations. You could also mention the fact that things may not work as expected, and what will happen in these circumstances. Clear communication is essential.

Always be positive, relaxed and only and be prepared to walk away from any joint venture if you are not comfortable or return on investment is not deemed the time and effort, it requires, always bearing in mind the big picture. This attitude will strengthen your position.

Comments by Robin j. Elliott

For more than 20 years, Robin j. Elliott has worked with thousands of companies in more than 49 industries across the Canada, the United States and Africa. He specializes in helping small entrepreneurs build wealth and access to new markets and take advantage of the centres through joint ventures. Through its seminars of joint venture in North America, he thought thousands how to create more, multiple streams of income without cost or risk, and very little time.

Make money with Joint Ventures - read the free 90 Minute video on how anyone can make money with joint ventures in jvwisdom.com