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Joint Venture Psychology for Persuasion

Becoming a business owner is a great endeavor for many entrepreneurs. They get to sort through all the data, have presentations made to them, and they get to make the final decisions on all aspects of their business. But when they enter a joint venture, decisions need to be made on a joint basis between partners. What does one do when a course of action seems like a good idea for the venture but the JV partner needs convincing?

Knowing a bit about the psychology of persuasion can help in swaying a JV partner to your ideas. First you need to know what kind of decision maker your JV partner is. Here are the main types of decision maker types that are found in executive positions around the world.

• Controllers – This type of decision maker is the pushy, take-control type who wants it their way. Usually it’s because of insecurity that they are less easily persuaded. They need cold, hard facts, logic, and an analytical style in order to persuade them. Don’t be ambiguous with this type. Keep your persuasions clear and to the point.

• Thinkers – This type may be tougher than Controllers to persuade. They, too, need cold, hard facts, and lots of them. They like to think and analyze each decision, and they may take a while to do so. Give plenty of information for this type to chew on if you want to persuade them to your thinking.

• Charismatics – Charismatic businesspeople are the enthusiastic type who makes a decision and carries through with it whole-heartedly. They like balance and enjoy choosing the course of action that is familiar with past experience. Give plenty of information to this type as well, but also lean arguments toward their past successes to get a positive persuasion.

• Followers – This type of decision maker is adverse to risk. They like to know that something has worked in the past before they try it themselves. Facts aren’t so important as examples of previous success. Give them a good, sturdy platform to jump onto if you want them to follow you.

Now that we are familiar with decision making types, how do you actually create an argument for your JV partner? Here are some helpful techniques in building your argument:

• Display the need – Each decision maker type needs to know that a decision has to be made. Create a need for your course of action, such as more income, reduction of expenses, bigger market-base, etc. Include the facts and previous success of your plan as needed to help

• Choose the right words – Remember, you need to use the proper words according to your JV partner type. Charismatics like enthusiastic and positive words. Thinkers like intelligent and logical words. Followers need to hear words like responsible, cautious, and proven.

• Call to action – Once you’ve made your presentation or argument, you need to get them into a frame of mind that requires decision. Tell them your beliefs and why you are convinced of a course of action, and ask for their support.

Persuasion is like an art form.  Good salespeople know the art of persuasion well. If you are in a position that requires persuading a JV partner in a course of action, take heed to how you will formulate your action based on the decision-type he or she is. Good luck!

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Your Joint Venture is a Strategic Alliance

What is a strategic alliance? It is an alliance between two or more entrepreneurs or business owners who work together in a strategic fashion for mutual benefit. It is a double “win” arrangement that is based on a solid joint relationship.

If you are considering a joint venture or strategic alliance, begin your process with a few questions: Who is your ideal customer? What is your target market and demographic?  Who is your competition? Who else provides similar services or products in your industry? These questions can help you discover potential strategies that can be achieved through an alliance with another business owner.

What are some sample strategies that could work with your joint venture alliance?

• Use seminars, workshops, and other public forums to promote you and your partner to the marketplace.

• Offer creative combinations of your products or services as a package deal.

• Create a newsletter, or contribute to each other’s newsletters by writing articles.

• Endorse your strategic alliance partner’s business to your clients and customers through your mailing list.  Have your partner do the same.

• Include a special offer coupon to your joint venture partner’s email and snail mail packets.

• Incorporate each other’s products or services with recommendations.  For instance, a real estate agent might recommend a mortgage broker to her clients looking to buy a home.

• Provide links on your website to you joint partner’s website.  Have them do the same.

• Write and publish a helpful “how to” ebook or publication and send it free to joint clients and customers.

• Create an affiliate program where you and your partner receive a fee for each new customer that was referred to the other.

• Look on a national level for strategic alliances, as well as locally.  You could reach a great many more customers with a national strategic alliance.

Your strategic alliance does not have to be limited to just you and another partner. Consider a group of alliances where all can benefit. An example could be a real estate agent, a mortgage broker, and a title insurance officer who combine efforts to meet the needs of individuals and families buying homes.

Be sure to always know your potential partner and their products or services. It doesn’t make sense to automatically recommend another business’s product to a customer if you have not reviewed or used the product yourself. If the product turns out to be faulty or low quality, your reputation could suffer. Make a full effort to get to know your strategic partner and the products and services they offer.

When it comes to forming a strategic alliance, keep in mind that you are forming a partnership. Your negotiations in forming the details of the partnership should include win/win strategies that benefit both parties. But also remember that your joint partnership should benefit customers from both parties as well.

There is no better time than the present to take a look at your current business needs and discover ways you can profit and benefit through one or more strategic alliances. Don’t wait for another business owner to approach you. Get out and start forming alliances today.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Joint Venture Psychology for Persuasion

Becoming a business owner is a great endeavor for many entrepreneurs. They get to sort through all the data, have presentations made to them, and they get to make the final decisions on all aspects of their business. But when they enter a joint venture, decisions need to be made on a joint basis between partners. What does one do when a course of action seems like a good idea for the venture but the JV partner needs convincing?

Knowing a bit about the psychology of persuasion can help in swaying a JV partner to your ideas. First you need to know what kind of decision maker your JV partner is. Here are the main types of decision maker types that are found in executive positions around the world.

• Controllers – This type of decision maker is the pushy, take-control type who wants it their way. Usually it’s because of insecurity that they are less easily persuaded. They need cold, hard facts, logic, and an analytical style in order to persuade them. Don’t be ambiguous with this type. Keep your persuasions clear and to the point.

• Thinkers – This type may be tougher than Controllers to persuade. They, too, need cold, hard facts, and lots of them. They like to think and analyze each decision, and they may take a while to do so. Give plenty of information for this type to chew on if you want to persuade them to your thinking.

• Charismatics – Charismatic businesspeople are the enthusiastic type who makes a decision and carries through with it whole-heartedly. They like balance and enjoy choosing the course of action that is familiar with past experience. Give plenty of information to this type as well, but also lean arguments toward their past successes to get a positive persuasion.

• Followers – This type of decision maker is adverse to risk. They like to know that something has worked in the past before they try it themselves. Facts aren’t so important as examples of previous success. Give them a good, sturdy platform to jump onto if you want them to follow you.

Now that we are familiar with decision making types, how do you actually create an argument for your JV partner? Here are some helpful techniques in building your argument:

• Display the need – Each decision maker type needs to know that a decision has to be made. Create a need for your course of action, such as more income, reduction of expenses, bigger market-base, etc. Include the facts and previous success of your plan as needed to help

• Choose the right words – Remember, you need to use the proper words according to your JV partner type. Charismatics like enthusiastic and positive words. Thinkers like intelligent and logical words. Followers need to hear words like responsible, cautious, and proven.

• Call to action – Once you’ve made your presentation or argument, you need to get them into a frame of mind that requires decision. Tell them your beliefs and why you are convinced of a course of action, and ask for their support.

Persuasion is like an art form.  Good salespeople know the art of persuasion well. If you are in a position that requires persuading a JV partner in a course of action, take heed to how you will formulate your action based on the decision-type he or she is. Good luck!

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.