joint venture marketing
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.
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