Show (Share) Me The Money …Creating Joint Ventures That Work and Profit
Joint ventures…pretty common in the world of entrepreneurs, yes? Personal Growth Professionals are no exception. What may be the exception is how we enter into ventures with our colleagues. I can’t tell you how many horror stories I’ve heard about agreements not being honored, or bad feelings coming up down the road. Usually it has to do with money.
I was excited to find the following article, written by Andrea Lee, published at Solo-e.com outlining a great way to work the money part out so that everyone feels good about the split because it takes all the factors into account. I share it here in hopes the next joint venture you create has solid financial infrastructure…and you can get on with changing the world one breakthrough at a time.
Sharing the Money: 30, 30, 30, 10
By Andrea J. Lee
When it comes to doing business online, it is only a matter of time before you start to seek out and build relationships with, others with whom to joint venture.
With the right joint venture partners in place, you really can ensure your success. The trick is how to find the right ones, and then once found, how to negotiate a deal that works.
Because the single biggest problem in the joint venturing process is often negotiating the revenue share.
Think about it. If everything else is set up well – including the offer itself, the promotional copy, the schedule of the announcement, and even the follow-through calls, etc. – if you haven’t properly broached the topic of how the money will be shared, the potential for a falling out is big.
You know it to be true, I’m sure. Even when it comes to talking about specifics of money with your significant other, things can get heated fast.
So what’s an easy way for you to be able to talk about money to a near-stranger? A way that takes the emotions and sensitivity out of the picture for both of you, and reliable allow you to come to a happy agreement?
Let me share with you a method I’ve used over the years.
I’ll give you an example first and then extrapolate to the principles so you can adapt the example to any specific situation.
Let’s say I have a 3-week TeleClass program that I’d like my new joint venture partner Jim to announce to his list. Here is how the conversation might go.
Andrea: ‘So Jim, I’d like to talk about how we’d share the revenue we earn when you promote this program for me next month. Is this a good time for you?’
Jim: ‘Sure!’
Andrea: ‘Great. So let me tell you what I was thinking, and you can see what you think. I’m totally open to adjusting and so on, but thought it would be a good idea to start somewhere…’
Metaphors and Hip Hop Class??
If you’re like most personal growth professionals, you are constantly finding stories and lessons in just about everything you do. When you see a billboard with an inspiring or controversial statement, you think about how you can use that in your next seminar. When you have an interesting conversation, you think about how that relates to something you’re writing about….
You know the feeling.
The following is an article I ran across. It’s written by Beth Schneider, owner of ProcessProdigy.com. Beth is an expert on setting up systems by divining what your internal and external processes already are. In this article, she is doing what personal growth professionals do best…finding the meaning in the metaphor.
What lessons are in your everyday activities?
5 Business Lessons I learned from Hanging out in Hip-Hop Class
I’ve been a dancer my entire life. I started out at the tender age of 4 with my first pair of shinny black tap shoes with little pink bows. I later graduated to jazz, swing, ballroom, a little country line dancing and in my mid 20s returned to my love of tap where I studied with a professional dancer who taught the likes of Paula Abdul and other celebrities how to shake a leg.
So when I decided I wanted to drop a couple of pounds before the holidays hit I went back to my roots and signed up for a series of dance classes.
Going in I knew that dance requires creativity, focus, control and power. But driving home one day I thought about how much learning to dance is like running a business. Here are 5 business lessons I’ve learned from hanging out in a hip-hop class.
I can do a whole lot more than I thought
Each lesson is broken down into sections. It doesn’t matter what class I’m in the instructor belts out 8 counts of new steps and I watch thinking, “my body doesn’t do that”. You know what, after it’s broken down and we practice a bit, “my body can do that”. It’s the same with your business. What business tasks, systems, phone calls, and risks are you not taking because you think you can’t? All it takes is breaking it down and a little practice and you’ll be amazed at what you can do.
Handling Your Critics
It’s been said that the more successful (or simply, visible) you become, the more people criticize you. There may be some truth to that. I think it hits personal growth professionals especially hard because through the work we do, we stir things up for people. Unfortunately not everyone can deal with that – but then again, if everyone could, there might be less opportunities for us, right?
The following article, written by Alexandria Brown, the Ezine Queen, speaks to how you can deal with your critics – handling them appropriately and supporting yourself in the process.
As you read, ask yourself…”How have I dealt with this before?” “How would I like to deal with this in the future?” “What do I need to do/change/create in order to help me deal with this the way I want?”
Enjoy!
How To Cope With Your Critics
By Alexandria Brown
Every week I publish my ezine, I get almost instantaneous feedback. Most of the time it’s wonderful comments like “Thank you for all you do” and “I really appreciated this article. It gave me tips I could really use on that subject.” Or “Great teleseminar you’re offering – it’s just what I need to learn right now!” These emails make me all warm and fuzzy inside.
But I want to level with you that publishing isn’t all peaches and cream. In fact, here are a few excerpts of emails I’ve gotten over the past few weeks:
“Your promotions have gotten too snake oily for me.” (From a woman who complained I was hiding the price of one of my teleseminars on the sales page, when in fact it was listed three times.)
“I’m sad to see you’ve gone the way of the high falutin’ Internet marketers…. At least I can look myself in the mirror every day.” (From someone who apparently did not like to see me become so successful.)
“I’m sorry you want to leave your poor friends behind.” (Responding to my urging my readers to surround themselves with people who are as successful and wealthy as they want to be.)
“Your logo is terrible — it looks like two boobs and a crown!” (From a disgruntled designer who was upset I recommended some low-cost sources for fast logos.)
And, about a recent teleseminar I gave: “I’d avoid prolonged giggling at things that just aren’t funny.” (Here’s a tip folks… I laugh at stuff I think is funny!)
And there are more!
For example, I took a recent survey of my list and got an amazing 1800+ responses. But at least 5 people wrote me upset that every question required an answer in order to get the free report that was the thank-you gift.
Got Critics? You’re Not Alone
Now, hear me out. I’m not writing this article just to bitch and moan. I’m writing this to let YOU know that if you get complaints like these, you’re surely not alone. I learned fast and hard that the higher you climb your mountain of success, the easier a target you become for the people down below.
Bridging the Integrity Gap
Hi everyone,
As promised, here is the information about an upcoming interview you might
be interested in. Bea Fields, well-known author, is conducting a “summer virtual
book tour”, and as part of the tour, she will be interviewing me on the nature of
integrity in business, particularly as it applies to personal growth professionals
and working with Gen Y leaders.
Here is the info. Please join us if you can.
Bridging the Integrity Gap: How Personal Growth Professionals Are
(And Are Not) Leading the Way. What You Need To Know,
With Nina East, Founder of The Association of Personal Growth Professionals.
Date:One Tuesday, August 5 at 1:00 p.m. Eastern
Led by Bea Fields and Nina East, Founder of The Association of Personal
Growth Professionals. http://www.PersonalGrowthProfessionals.com
We are experiencing the rise of conscious capitalism and the power of the values-driven consumer. One might think that these forces would conspire to ensure integrity at the highest leadership levels, particularly in the arena of Personal Growth Professionals.
After all, they are training us to be our best – surely that would include integrity, yes?
Unfortunately what we are seeing, with far too great frequency, are personal growth
and self-help professionals who have not dealt with their own integrity (or integrity gaps), and therefore cannot model (much less, teach) integrity to their readers, clients, and workshop participants. In other words, those who could – and perhaps should – be leading the way, are not. Why is this happening, what does it mean for the personal growth profession, and what do you need to know about integrity and millennial leaders if your business and your community are to thrive long-term?
To register, go here.
I also highly recommend both of Bea’s books.
Millenial Leaders: Success Stories from Today’s Most Brilliant Generation Y Leaders
and
Hope to “see” you on the call.
Don’t Let Your Book (or project) Die A Slow Death
This post is from an article written by Lynne Klippel, and edited by Nina East.
Copyright Lynne Klippel. Used with permission. (Thanks, Lynne!)
The story is about a personal growth professional trying to write a book, but the lessons can apply to any project you are working on, but not making the progress you want…
Jill is a personal growth professional. She started her book three years ago. Initially, she was thrilled and excited about the project, keeping a promise to herself to write every day.
As time progressed, Jill got bogged down. She decided she needed to do more research so she spent hours surfing websites and reading books related to her topic. Next, she decided to attend a writing class at her local community college. She also started working with a designer on colors and concepts for her book cover. Not to mention all the personal growth clients she needed to serve!
After a while, Jill realized she hadn’t written anything for her book in the last six months. She was busy doing activities related to her book, but spending no time actually writing it.
Sound familiar?
Do you have a personal code of conduct?
Have you ever thought about your own personal code of conduct?
Back in school there was a code of conduct – a set of rules or guidelines, established by the authority, to help us behave in ways which supported the good of all. Or at least the general good. The code always included things like “don’t cheat”, “treat others with respect”, “no running in the hall”. General behavioral guidelines.
What I’m talking about here is your personal code of conduct. The rules and guidelines you establish for yourself – to guide your own behavior and decision-making. To help hold yourself accountable. To help you know when you are “on purpose” and when you’ve wandered a bit.
As I was digging through some files in search of something else, I stumbled across my Personal Code of Conduct I wrote many years ago.
Back when I had a traditional job, I even had it posted on my office door, along with a note to visitors requesting that they help me live up to it.
As I look back I’m struck by how bold that was.
Talk about being transparent and setting yourself up for accountability!! I recall several occasions when people would hold me to it. It was a bit challenging, but when you put it out there that clearly and visibly, there’s nothing to do but chuckle and shift your behavior.
As personal growth professionals, it would make sense to have a personal code of conduct, wouldn’t it? In fact, it may be that the absence of a personal code of conduct is behind some of the challenges for our clients and readers…perhaps having our own code, and publicizing it freely, might be a good model to present.
Helpful Assumptions for Inspiration
It’s not unusual to get caught up in the daily grind – even for those of us who aspire to be more and better. Sometimes we are quick to judge others – and ourselves – without stepping back to think what else something might mean.
Here are some good assumptions to keep in mind.
(These were developed in conjunction with my good friends at Lever/Edge.)
Assume that people want to succeed – they want to do a good job.
Assume that people work best when objectives are clear.
Assume that people who participate in setting some of the objectives are more effective than those upon whom standards have been imposed.
Assume that people want work to be appraised periodically and that they want to know on what they are to be judged.
Assume that people are interested in improving their performance – they want to do better.
Assume that people respond better to challenge than routine.
Assume that the task can be more challenging and that ways can be found to make it so.
Assume that the more nearly the task can be placed on a problem solving basis, the more interesting it will be.
Assume that it is important for people to know why.
What’s Integrity Got To Do With It?
Integrity is one of the buzz words that’s tossed around more and more frequently. What’s disturbing is that so many people using the term (usually to describe themselves or their business) don’t really understand integrity…or what it means in real life application.
What I’ve noticed is that most people who wave the integrity flag have forgotten two things:
1. Integrity is about more than intentions.
It’s not enough to say you meant to… (fill in the blank yourself – arrive on time, finish the report, return the phone call, pay the bill).
Integrity is primarily about actions – what you do, what you say, and how the two are in alignment. If you said you would do something, but didn’t do it, you are out of integrity.
Apologies are good, and can certainly go a long way toward mending fences, but apologies alone are not enough. You must also demonstrate a change in behavior to rebuild trust and get back in integrity.
For example, if a client owes you money, but they keep neglecting to pay the bill, that’s a problem, right?
If, when you bring it to their attention, they apologize sincerely and pay the bill, they will have rebuilt trust with you – or at least begun the rebuilding process. They are taking steps (actions) to correct the misalignment between their words and deeds.
What if they apologize and say they’ll take care of it, but still don’t? What then?
People have all sorts of reasons for this – they forgot again, they misplaced the invoice, they are low on funds right now, their dog ate it….
It doesn’t make them bad people, but the thing about integrity is that no matter what the reason or excuse, you have to make it right.
You have to make it right – which means you must take action that corrects or resolves the issue. Here’s a case in point…
Fake It ‘Til You Make It?
(If that’s your strategy for success, we NEED to talk!)
How many times have you had people tell you to just “fake it ‘til you make it”, or “act as if”? One? Ten? A hundred times?
Maybe you’ve even been the one saying this to other people…
Well-meaning personal growth professionals (as well as friends and family) have been doling out this advice for ages. I can’t begin to tell you how many times I’ve heard it.
And, being the good, compliant client that I am, I followed their advice.
I “acted as if” and “faked it” for years.
Here’s the question you need to ask yourself as a personal growth professional: How’s that working for me? And, how’s it working for my clients?
Have your dreams come true?
Probably not – at least not to the level you would like.
Here’s why: When you’re faking it, you KNOW you’re faking it. And your constant awareness of “acting” or being “fake” actually takes you out of the energy and momentum of making the changes you need to make. You are being constantly reminded that you haven’t made it yet. That’s just the way the brain works.
Read the rest of this entry »
Does wanting happiness make it harder to find?
In a recent study published in the Journal of Psychological Science, scientists discovered that the more we look for a particular object, particularly if it is rare, the less likely we are to see it. It doesn’t really make logical sense, does it?
Certainly if you are looking for something you would notice it, right? Not so says neuroscience.
While this particular research focused on homeland security workers screening carry-on luggage and radiologists looking for cancer – and I have to say the results were quite disturbing – the scientists determined that the thing, itself, being searched for isn’t relevant. It’s the searching for it, and the infrequency with which it occurs, which affects whether we notice it.
You can watch a quicktime video from Duke University here.
For those of us keen on personal growth, it begs the question of happiness and the quest for happiness.
If science is showing us that searching for something specific makes us less likely to notice it, is it possible that yearning for, searching for, desiring happiness actually makes it less likely that we will find (experience) it?
This study certainly suggests that is the case.
And perhaps it is the rarity of happiness that also leads to less-likelihood of finding it.
I’m making room for the possibility that someone who is searching for happiness is probably finding it to be pretty rare in their life – otherwise why would they be searching for it?
