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Joint Venture Psychology – Turning Weaknesses to Strengths

Do you know your strengths and weaknesses? Anyone who has sat down for a job interview has probably been asked these questions. However, have you actually sat down and truly analyzed your weaknesses?

Weaknesses may appear to be strengths. For instance, a perfectionist may consider his need for superior craft, design, or process an asset, when in actuality; it hinders his progress and prevents forward momentum. By carefully determining where your weaknesses are, you can work toward improving them, or using them to the advantage of your business or your JV business.

As an example, during your JV efforts, you find that your marketing strategy for billboard advertising is not what you expected, but your online marketing is showing results. As a response, you and your JV partner modify your strategy to reduce billboard advertising and focus more on online SEO searches and pay per click advertising. This helps to generate the most out of your marketing dollar and improve sales.

The same holds true for your own weaknesses. You might determine that something is not working as well as you’d like. However, by modifying your behavior or capitalizing on a weakness, you can improve your own personal achievement.

Write It Out

The first thing you must do is take some time to write out your weakness. This is not the time to be over-confident and deny that you have any. Consider what hinders your progress. Are you a procrastinator? Do you have trouble with authority and taking directions? Are you a slow typist? Any of these could be a weakness that prevents you from getting work done. Be honest and list what you think are your weaknesses. Then ask others as well.

Determine the Impact

What do your weaknesses cost you? Does your procrastination cost you time and money? Does your problem with sharing authority prevent decisions? Knowing how your weaknesses affect your external outcomes is important to know before you can begin working on internal changes.

Dedicate Yourself towards Improvement

Now that you know what you can improve, and what happens if you don’t, you must dedicate your efforts toward improving that weakness into an asset. Were your communication skills determined to be a weakness? Take writing and speech classes. Procrastination an issue? Read books on organization today (don’t put it off!), or take a local community center class on improving organization and motivation skills.

Capitalize on Weaknesses

With your work set before you, you can set a goal to capitalize on your weaknesses. Take the classes. Face your fears. Focus on improvement. And don’t forget to measure the results. When you can measure your improvement in certain areas, then you know you are on the right track to turning your weaknesses into assets.

Remember, there is strength in your weaknesses. You merely need to crash through the blocks of doubt and denial, and focus on changing behaviors.

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 – Turning Weaknesses to Strengths

Do you know your strengths and weaknesses? Anyone who has sat down for a job interview has probably been asked these questions. However, have you actually sat down and truly analyzed your weaknesses?

Weaknesses may appear to be strengths. For instance, a perfectionist may consider his need for superior craft, design, or process an asset, when in actuality; it hinders his progress and prevents forward momentum. By carefully determining where your weaknesses are, you can work toward improving them, or using them to the advantage of your business or your JV business.

As an example, during your JV efforts, you find that your marketing strategy for billboard advertising is not what you expected, but your online marketing is showing results. As a response, you and your JV partner modify your strategy to reduce billboard advertising and focus more on online SEO searches and pay per click advertising. This helps to generate the most out of your marketing dollar and improve sales.

The same holds true for your own weaknesses. You might determine that something is not working as well as you’d like. However, by modifying your behavior or capitalizing on a weakness, you can improve your own personal achievement.

Write It Out

The first thing you must do is take some time to write out your weakness. This is not the time to be over-confident and deny that you have any. Consider what hinders your progress. Are you a procrastinator? Do you have trouble with authority and taking directions? Are you a slow typist? Any of these could be a weakness that prevents you from getting work done. Be honest and list what you think are your weaknesses. Then ask others as well.

Determine the Impact

What do your weaknesses cost you? Does your procrastination cost you time and money? Does your problem with sharing authority prevent decisions? Knowing how your weaknesses affect your external outcomes is important to know before you can begin working on internal changes.

Dedicate Yourself towards Improvement

Now that you know what you can improve, and what happens if you don’t, you must dedicate your efforts toward improving that weakness into an asset. Were your communication skills determined to be a weakness? Take writing and speech classes. Procrastination an issue? Read books on organization today (don’t put it off!), or take a local community center class on improving organization and motivation skills.

Capitalize on Weaknesses

With your work set before you, you can set a goal to capitalize on your weaknesses. Take the classes. Face your fears. Focus on improvement. And don’t forget to measure the results. When you can measure your improvement in certain areas, then you know you are on the right track to turning your weaknesses into assets.

Remember, there is strength in your weaknesses. You merely need to crash through the blocks of doubt and denial, and focus on changing behaviors.

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.