TEN RULES for doing profitable joint venture deals

Here are TEN RULES for doing profitable joint venture deals:

1. Create value. Have a GREAT product or service.

2. Back it with a worthy purpose. Tell them why.

3. Be desirable as a partner. No, not great or famous or beautiful or sexy. Reliable. Trusted. Decent. Polite. Etc.

4. Have a reputation and track record. Point to it.

5. Keep your self-respect. Don't grovel or beg. Don't sound desperate, even if you are. Don't bribe or gift your way in. It isn't worth it, long term.

6. Reciprocate. Or better, give first. Value, time, or effort are good barter tools.

7. Be patient. It often takes multiple attempts before you land a deal. If you choose right, it's always worth the effort.

8. Make it easy. No JV partner should have to keep asking you for details. Give them all they need. Then give more when they ask.

9. See their perspective. Adapt your offer so THEY want to help promote you.

10. Be professional. Don't shoot off your mouth or rant and rave if things go bad. Others are watching; judging; deciding whether or not to work with you later.