Article > 99% Of Joint Ventures Are A Waste Of Time

99% Of Joint Ventures Are A Waste Of Time! It’s the Missing 1% That Makes Millennia Property A Force To Be Reckoned With! Every day we talk to dozens of investors on the phone – and every day we hear the same old stories, the same fears, the same problems and often the same excuses. But surely property can’t be that difficult – isn’t everybody making a ton of money?

Well, sadly no. And the reasons for this are complicated and inherently skewed towards an idiom of decency that often doesn’t exist in this game. And this is the reason why 99% of time, they don’t work. So what are the signs to spot for those that can, can and those that can’t, joint venture.

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1) Smooth talkers - You will meet a lot of people at events who appear to have the answer for everything. They may have the gift of the gab and they may appear to know exactly what is going on and the names of property guru’s trip off their tongue but, there is something else going on behind this false façade. In reality, they are often just good at talking and whilst this is an admirable quality, it isn’t enough to be successful in this business.You need to be able to communicate well but you also need to make sure that you are dealing with the right type of person that can deliver against their smooth words.

2) Dreamers not action takers - The cardinal sin. Unfortunately, it doesn’t matter how often you read “Rich Dad Poor Dad” or watch “The Secret” – if you don’t take action in line with your dreams, then you won’t actually end up anywhere in particular. I meet people time and time again who have a dream but it’s not backed by taking action. And I am quite hard on these people because you have to be – it is your financial future at stake each day you delay doing something that will drive you onto achieving something that takes you one step closer to your goals.

3) Goals are not targets - It’s easy to create a goal but once you’ve done this, you actually need to take action again making this goal a reality. This isn’t looking at it in January and then again in December to see how you did – it’s about taking simple steps every single day to ensure that you are making progress. Firstly, your goals need to be written. Secondly, they need to be S.M.A.R.T. Thirdly, you need to go all out towards achieving your goals every single day. Fourthly, you need to measure yourselves against the targets you set yourselves to ensure that you are hitting these and if not, why not!

If you're serious about your property business in 2011, you will get this report, right now and read the report today.

Get started Now with HMO's Imagine, month after month, having dozens of £400 deposits in your bank account,with almost no chasing the rent and little tenant support—ever. What an easy way to earn a living that would be! You can have that life. I'll show you how. Why HMO's Are The Perfect Property Investment HMO's Are Not Problem Free Why HMO's Are More Than Just a HMO The HMO Survival Guide Managing Your HMO Effectively Make Money With This Report

4) The right team - Some teams just don’t work well because the core components aren’t there. I’ve discussed Wealth Dynamics before but it’s essential you look at this if you wish to develop a successful business to make sure that you are not hooking up with people who have similar strengths and weaknesses to yourself. For instance, a set of guys who get together who are both introverted but want to build a multi-million pound business selling leads to estate agents are probably not going to do very well because they are missing part of the jigsaw. We know lots of 3-person teams that work really well. I’m not sure why 3 is the magic number but it does appear to work well. Two can sometimes be tricky as one can outvote another but with three, its rare you’d end up in a stalemate and a third opinion is sometimes crucial for those business decisions that need to be made.

5) Skill, Will, Passion, Time and Money - An old adage a good friend of mine (David Lilley) once shared with me and it’s so true. Often when a team is in the first stages, everything is so exciting and everybody is hyper-enthusiastic that it seems nothing will bring you down. Unfortunately, the figures state that half of new businesses fail within the first five years – don’t let yours be one of them. Answer these questions honestly:

1) Does your team have the skill to make your JV work?
2) Does your team have the will (or even the commitment) to carry this JV through to the end?
3) Does your team have the passion that you’ll need to keep going even when the proverbial hits the fan?
4) Does your team have the time to devote to your JV to make it a success?
5) Does your team have the money to ensure that it is adequately covered for start-up costs and for on-going cashflow?

So when you take all of these factors into account, there is a whole load going against you but at the same time, if you can truly find the right JV team, then you can turn the world around.

Matthew Moody
01933460270
www.yourhmoexpert.com