Business Ideas

Archive for September, 2009

Joint Ventures – How Much To Charge

How much should you make from a Joint Venture? 10? 20? 50? Should it be of the net or gross profit or off the top? How do you decide? This is an important consideration especially for people who are used to paying peanuts and those who are used to accepting a few crumbs. Entrepreneurs who understand business and profit are more likely to pay and demand reasonable commissions.

For example when people attend a DollarMakers Joint Venture Broker Bootcamp I pay the referring Members up to 50 in commissions! My cost of putting an extra chair into a Bootcamp and a few extra cups of coffee and donuts plus a workbook is negligible. I can afford to be generous. My DollarMakers Joint Venture Forum Members earn thousands in commissions every month. But if I was selling computer hardware with a profit of around 6 I could afford to pay such a generous commission. Large profit margins demand high commissions; real business people understand that. And there are other ways to reciprocate other than financially but thats a subject for another newsletter or the Bootcamp.

A realtor approached me with the typical offer: Send me a buyer or a seller and I will pay you 75 for a completed sale. So you get 7000 and you expect me to accept 75? Are you kidding me? Ill take 50 of the realtors commission or no deal. Am I being greedy? No I pay 50 and so can they. If you dont ask you wont get. Desperate realtors will not agree to this but the smart realtor who has built in multiple Joint Venture back end sales into every transaction will jump at the opportunity. 50 of something is better than 100 of nothing. Its business they would never have had. When you show them how much business that one deal can generate over the years and the Marginal Net Worth of a customer they might see the light. If they dont send them on a Joint Venture Bootcamp!

Most entrepreneurs dont understand their acquisition cost attrition rate profit margins back end value or Joint Ventures. Thats why they feel they have to grab every up front cent they can. When they understand the big picture and they want to create increasing multiple streams of passive income they will become generous in their referral fees and commissions. I personally dont accept anything less than 20 but it all depends on the big picture margins reciprocal consideration and value. Remember the big picture and demand to be paid a fair amount or walk away. There are many opportunities out there but very few people who understand Joint Ventures so you can call the shots.

Find out more about Joint Ventures and how to find great Joint Ventures Partners at www.jvwisdom.com.

About the writer:  For more than 20 years Robin J. Elliott has worked with thousands of businesses in over 49 industries across the United States Canada and Africa to help small business entrepreneurs build wealth and gain access to new markets and profit centers through Joint Ventures. Make Money Using Joint Ventures Watch the free 90 Minute video about how anyone can make money using Joint Ventures at www.jvwisdom.com.

Jest Practices: Best Practices For Humor In The Workplace

Most agree that humor in the workplace can have beneficial effects. Yet not all humor is good humor. The challenge: how to interject appropriate humor and fun into our serious jobs without hurting others or seriously undermining the company. When used appropriately humor can work for you.

Humor that Uploads Also Uplifts

Humor has the power to make people feel special. When you include people in fun it simultaneously improves morale reduces stress and facilitates team building. With the prevalence of telecommuting and workgroups scattered geographically the challenge of furthering working relationships bonding and building camaraderie is real. At one San Francisco Bay Area company a workgroup staged an elaborate Remote Baby Shower. The expectant mother who was outofstate called in for a prearranged conference call with her workgroup. When she did…surprise! Everyone was having a party in her honor. They uploaded digital photos of a decorated conference room and each other and emailed sound files with well wishes. Everyone shared in the good cheer. This creative use of technology brought employees closer to each other figuratively if not literally.

Humor That Brings People Together

Workplaces are full of opportunities to use humor for the benefit of all. Milestones are a natural place to employ humor. Dress like the recipient as a tribute during a surprise birthday party. Other celebrations to mark anniversaries project completions or similar accomplishments are perfect opportunities to utilize humor. Even surviving certain projects is cause for celebration and fun.

Holidays are another natural time to employ humor. Halloween is a time for contests to see who can best decorate conference rooms; for other companies the anniversary of their founding is cause for celebration. Silly speeches skits and spoofs abound.

And the Award Goes To…

Staging award ceremonies is a great way to have fun recognize each other and revel in the shared work experience. Whether the categories mimic those found at the Oscars Emmys or Tonys or are derivative esprit de corps rises when the team laughs at itself and each other. Best Supporting Actor Best Impersonation of an Inanimate Object Best Special Effects Most Likely to Secede or Lifetime Achievement Award.

Humor Is The Winning Ticket

Pranks can alternately be uplifting or uprooting. A desktop publisher on April Fools Day adorned his coworkers cars’ windshields with mock yellow parking tickets complete with envelopes for remittance. Upon closer inspection these truetolife replicas of tickets had whimsical offenses of significance to the recipients. The departmental joker’s ticket cited him for “excessive use of farce” and the hard charging corporate counsel’s infraction charged him with a “Failure to Yield.” Of course the initiator of the gag was later cited for impersonating an officer. Everyone laughed at the spoof once they realized it was a joke. Judge Judy’s signature at the bottom of the ticket gave it away.

Pole Position

A fast growing company didn’t have enough office space for full cubicles for its new hires. One unfortunate hire’s assigned cubicle had a giant pole in its midst. To her credit she never complained. Coworkers felt for her. One night they hit the streets collecting various fliers from telephone poles in their neighborhoods. The next day when the new hire reached her cubicle the offending pole was now covered with notices about missing pets renters seeking apartments cheap movers for hire and even local GRE study groups. Not only did the employee know her coworkers felt her frustration it bonded them as well as they pulled together to help one of their own.

One Person’s Humor is Another Person’s Horror

When targeting humor consider targeting yourself. Everyone has a different idea of what’s funny and what’s not. Many a well intentioned prank or joke has backfired. One coworker sent another a prank letter impersonating a local media figure. The recipient mistook it for real interpreted it as harassment and called the FBI. Oops!

The Benefits of SelfEffacing Humor

When we make fun of ourselves it actually demonstrates our healthy outlook showing we don’t take ourselves so seriously. As a result we’re regarded as more approachable and down to earth. Don’t make fun of yourself excessively. Such humor loses its effectiveness with overuse.

Everyone from politicians to CEOs to Southwest Airlines flight attendants use selfdeprecating humor humor that makes fun of themselves to get people laughing at and consequently with them. You can too.

While gallows humor may feel appropriate during layoffs and cutbacks strive to employ humor that uplifts and taps universal themes for best results. Here’s to laughter!

About the writer:  Since the age of eleven when he went doortodoor selling Used Jokes Craig Harrison has been connecting with customers through humor. As a professional speaker and corporate trainer Craig Harrison’s Expressions of Excellence provides sales and service solutions through speaking. Contact him at 888 4500664 through his website http://www.ExpressionsofExcellence.com or via email: humorcraigspeaks.com

Is Your Pride A Stumbling Block To Your Success?

Is Your Pride A Stumbling Block To Your Success?
by Ginger Marks

The Bible clearly warns us that pride goes before a fall. I know some of you dont believe in God but you must admit the Bible is full of sage advice. This one piece is no exception.

There is clearly a difference in being a Guru and a KnowItAll. Be careful not to cross that line; it can make the difference between amazing success and failure. For example I used to hang out with some very smart people that always had a kind word and helpful advice. We could chat for hours about many different subjects. Sometimes helpful advice was shared but most times not. When we went to chats together everyone had equal time to converse. Then one day something changed. They began to dominate all conversations and chats. I began to feel like it was their way or no way at all. Could they possibly be right about everything? When would the other chat room attendees get a word in edgewise? We are on a mission to change the world was their retort when anyone suggested their means were not the best or even the only way of accomplishing the intended goal.

Another example I recall is the time when another person I care about was critically lambasted for not agreeing with the speaker’s concepts. Being rude to your audience is not the method to win friends and influence people. This sort of thing happens when the speaker forgets that they are the person most responsible for clearly relating their message.

A conversation is a two way street. It is when you get to the point that you begin to feel that if someone else doesnt understand you it is the fault of not listening to what you are saying and not that you couldnt have better stated your message. This is when you make the proverbial turn and you begin to lose credibility in the eyes of those watching from the sidelines as well as with those whom you are conversing.

Business communication coach and friend Felicia Slattery owner of Communication Transformation states When you are the speaker its your job to be sure your audience fully understands your message. After all as a business person your message is a reflection of you and your business. If you present your message clearly so your audience can follow you then youre showing that audience you are knowledgeable helpful and professional. Allowing your audience to provide feedback and using that feedback as a way to make your presentation better is the hallmark of a competent communicator and good business person overall.

There is a fine line between humility and timidity too. A little too much in either way and you end up failing at every turn. For example hiding in a corner taking it all in or lurking on a network chat board will add to the number of places you can say you have been in the daily course of business. However dont expect to get any referrals. Unless you openly participate the other members wont even know you are there. And it goes without saying if they dont know you are there you will not gain any benefit from attending.

Put on your party dress and shoes and get out there on the dance floor. Make friends first and the business will come. Then focus on your strengths but dont overdo it. Offer advice when asked in a spirit of love and kinship.

No matter what stance you take be certain of one thing; your reputation will precede you. Promoting your own importance leads to stumbling. But focusing on and meeting the essential needs of others gives us the healthy approach of the wise and successful entrepreneur.

Copyright 2007 Ginger Marks

About the writer:  Ginger Marks is the founder of DocUmeant We Make YOU Look GOOD! and coowner of Nibroc Marketing Solutions. For more information visit http://www.documeant.net and http://www.nibrocmarketing.com Mrs. Marks is a published author. You will find her book Presentational Skills for the Next Generation available through Lulu.com. She also offers insight into marketing solutions through her ezine Rock Solid Marketing available at her marketing website. Special thanks to Felicia Slattery M.A. M.Ad.Ed. of Communication Transformation http://www.communicationtransformation.com/ for her contribution to this article.