[aabusiness Rag To Riches story from 1954 … holds a secret about doing Joint Ventures
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Title: Rag To Riches story from 1954 … holds a secret about doing Joint Ventures
Word Count: 673
Author: John Shields
Email: webmaster@onlineknowledgebase.com
Category: Internet marketing/online business
Article URL: http://www.submityourarticle.com/articles/easypublish.php?art_id=14939
The article is preformatted to 60CPL.
Rag To Riches story from 1954 … holds a secret about doing Joint Ventures
In the summer of 1954, four hundred wealthy businessmen
were invited to hear about a joint venture proposal.
Hands were shaken, coffee was served and for the next few
hours, behind closed doors, P & L statements projected the
future of how this venture would play out.
History would show that this was one of the sweetest deals
ever offered in business and those that embraced this idea
would make thousands of times their original investment …
all that joined the venture would make millions.
This was not a naive group of wet-behind-the ears dreamers,
awestruck by the thought of sudden riches, or easily swayed
by emotion.
No, this was a hard-nosed bunch, accustomed to dealing with
bankers and politicians.
Here were the captains of their industry, being offered the
deal of a lifetime. Their reaction is what is fascinating.
How many jumped at the deal?
How many of those original 400 had the foresight to run
with this deal … and beat out the competition?
As it turns out, exactly three.
The creator of this idea - ever the businessman -
understood; “After all,” he says, “all we were offering
them was a name, a set of plans, and a dream!”
A name, a set of plans, and a dream… The deal was a
simple one: $500 down and about $5 per day was all they had
to pay for the rights to use a name and a set of plans …
to make the dream of a lifetime come true.
Who was this businessman and what was he selling?
You may not recognize his name but you certainly know his
company. Today, it is one of the most recognized brand
names in the world.
Side Note: Within three years this company went public with
a $3.9 million stock offering and suddenly, everyone wanted
in on the deal.
Those that didn’t jump on board wound up standing in a long
line, waiting their turn.
Who was this guy?
————————————————-
Opportunity: “…Opportunity comes often, it knocks as
often as you have an ear trained to hear it, an eye
trained to see it, a hand trained to grasp it, and a head
trained to use it.”
This quote is from “Twenty Tips For Success” by Mr. Kemmons
Wilson, founder Holiday Inn, America’s Innkeeper
————————————————-
In 1951, Kemmons Wilson was on vacation with his family and
became disgusted by the motels of the era that charged $2
extra for children, “We have five kid’s, so our $6 room
became a $16 room,” he said. One year later, he opened his
first Holiday Inn where children could stay for free and
families were assured of consistently clean, safe, rooms.
Very soon, Holiday Inn setup the first nationwide motel
computer reservations network and then, everyone wanted in
on the deal.
“From that point on it wasn’t a question of trying to sell
franchises - it was a question of allocating them.”
The important point [call it the secret] from this meeting?
Really, there are two important lessons. First, when the
risk is small - don’t hesitate. In this case; $500 for the
use of the Holiday Inn name plus five cents per room per
day - about $5 a day on a 100 room motel - was a pittance
compared to what investors made on this deal.
But the biggest reason for Holiday Inns’ success was a risk
taker founder, backed by hard working no nonsense
franchisees that were willing to invest millions in the
first nationwide computer reservations network.
A centralized computer system was something that the rest
of the lodging industry didn’t have at the time. At that
time the competition was a bunch of small independently
owned roadside motels too small and scared to make the
major investment needed to win … so they lost and the
people that joined Mr. Wilson became very big winners.
So, the biggest [secret] from this meeting? When you are
first to the market with a new technology backed by people
that won’t “give up”, then don’t be afraid to take a risk
and go for it!
About the Author:
Fast forward to 2007 and read about a new JV for the
Internet that started because someone told a big old
boldface lie. Go Here
http://realtruthabouttraffic.com/jv/20/?o=52 so you don’t
wind
up standing in a very long line after everyone else learns
about this deal.
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