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How to Turn a JV Opportunity into Reality

Discussion in 'Joint Ventures' started by steelballs, Jun 21, 2012.

  1. steelballs

    steelballs BANNED BANNED

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    Recently for the past several months I have been involved in a number of JV negotiations, and many times I have had to draw on business knowledge I learned when employed by Fortune 100 IT/Computer giant Honeywell Inc for over 13 years.

    Preamble
    From my viewpoint looking in on BHW I frequently refer to many threads and posts for maybe reference - guidance - help et al. Resulting in let me tell you, acquiring many valued ways and methods to make money! Hence the reality is that if I did not have access to the BHW knowledge bank, then the hard facts are I would have to source the information elsewhere, or face losing out on an opportunity as I was unable to progress the deal because I was devoid of professional advice needed to secure the negotiation and close out the money making deal.

    Some Elementary Tips Useful in JV Negotiations

    • Transparency - At all times be open - honest and professional.

    • Never Lie - Mislead - misquote or fabricate facts. If you do not know something say so as in business we all learn new things on a daily basis! Hence over 95 percent of professional business people never attach a ‘Negative' to a don't know answer in fact it will often be received with a ‘Positive' relative to your honesty and integrity.

    • Respect - You have to earn respect and it can often take time. A good way to kick off negotiations on the ‘Wrong Foot' is to communicate by PM or Email like this - quote - ‘Hey count me in on this deal' That is a big No No! You must act and respond like billionaires do that means etiquette of salutations (greetings) are a must for all correspondence - Example - Hey Joe - Thanks for the positive feedback - Best Regards - Donald.

    • Focus - If anyone has the desire to aspire for great success and achievements in business then the standards you set have to be high because that is how all the present and past movers n shakers reached the top in business today ala Warren Buffet - Steve Jobs - Bill Gates etc.

    • Paperwork - for JVs - Prepare all your business plans - shareholder agreements and any other legal documents necessary before you commence into a JV Contract.

    • Common Sense - We all have this - guess what here is common sense advice - USE IT! It is a free tool capable of immense power and capabilities which can often be used to progress and execute JV deals

    Summary
    The points showcased herein in no way represent the A to Z of Joint Ventures but hopefully many BHW members will find the bullet points helpful.

    Thanks :)

    Legend
    Honeywell Inc - meaning - Honeywell is a Fortune 100 company that invents and manufactures technologies to address tough challenges linked to global macrotrends such as safety, security, and energy. With approximately 132,000 employees worldwide, including more than 19,000 engineers and scientists, we have an unrelenting focus on quality, delivery, value, and technology in everything we make and do. - Attribution to Honeywell.Com
     
    Last edited: Jun 21, 2012
  2. mezzie911

    mezzie911 Junior Member

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    I would like to JV with you.
     
  3. PhaseSeo

    PhaseSeo Junior Member

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    Yeah... Me too... Thanks...
     
  4. mysteriox

    mysteriox Jr. VIP Jr. VIP

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  5. kideze

    kideze Elite Member

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    Honeywell, the energy efficient company.... you got any current jv running and need some partners?