joint venture marketing
A large portion of the dynamic relationship with your joint venture partner consists of communication. You must be able to communicate effectively in order to nurture a successful JV arrangement. But are you aware that communication is in larger part an act of listening?
Communication is sending messages between two points. You send messages to your joint venture partner via both verbal (written or spoken) and non-verbal communication. Non-verbal communication includes how you listen and interpret your JV partner’s signals and messages.
A communicator who is an active listener will be better equipped to handle and respond to the messages being sent. For instance, if you are in a meeting with your joint venture partner and you are being told that the arrangement may not be working for him, a good listener will be able to discern what is actually being said. By listening and asking the right questions, you may be able to discover that the time commitment for your JV partner is more than expected. You, as the good listener, can communicate and negotiate a better arrangement that is more suitable and yet still beneficial to both you and your JV partner.
Active listening is a skill. When you practice active listening, you should be doing the following:
- Give Attention – Don’t let your eyes wander around the room when your joint venture partner is talking to you. Focus on him and let him know that what he has to say is important to you. This also means even though your eyes are focused on him, you are not thinking about your shopping needs or hobby participations after work.
- Listen and Observe – Not only should you listen to what is being said, but carefully observe body language as well. Body language can tell you much about what is being said. Crossed arms for example could indicate that your JV partner is closed-off to input. Frowns and squints may indicate that he is confused. Key into these non-verbal signals as well.
- Show Feedback – Let your joint venture partner know you are listening. Nod occasionally that you understand what is being said. Smile. Raise your eyebrows. Your responses are positive feedback to your partner that you are indeed actively listening.
- Give Honest Responses – Responding to your JV partner is important. It is also important not to allow emotions to take control of communication. If you become upset at what your joint venture partner says, announce your feelings, but don’t allow yourself to say something inappropriate or that you might regret. Being honest with your feelings is different from letting feelings sabotage a conversation.
Your continued JV success with your partner depends upon how well you communicate together. Be sure you become an active listener so that you have the tools needed to participate in a fruitful conversation.
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.
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