joint venture marketing
With the entire world losing almost one-third of its monetary value over the last few years, it’s difficult to stay optimistic about making money or profit in business, much less staying afloat. Should you choose to dissolve the JV and focus on your own business or put the extra effort into keeping the JV alive until happy days are here again?
Weighing the Pessimists and the Optimists
Though many business owners have a pessimistic outlook, they are sadly correct. And unfortunately, it is the pessimistic ones who will bail out and cut their losses and save what assets they can before losing everything. It is the pessimists who say that things will not improve and complain about how business should happen.
However, the business owners and JV partners who succeed are the ones who remain optimistic and take charge of their psychological mindset of doing business in a downturned economy. While ten years ago business owners and executives were reading books about squashing the competition and making millions, now bookstores’ shelves are cleared of books about sustaining through tough economic losses and simply keeping business alive.
The fact is that it is the optimist who will survive the current economic crisis, and not only survive, but thrive. The optimist in a JV looks for what is going well in their venture, and what is likely to improve, and then focuses energies to keep the right business elements navigated through the muck and mire of a raging economic whitewater rapid. The optimist also is aware of economic change and realizes that the JV business process much change with it.
Ways to Stay Positive
What can you do to remain optimistic through this tough economic climate?
- Don’t Panic – Level headedness and patience must prevail in order for your JV to survive.
- Listen to the pessimists – They will likely reveal what is true about slower economic times. By listening you can discover what not to do.
- Keep the outlook positive – The optimist knows that a recession is only temporary and that they are a natural progression of business evolution. As history has shown, things will improve.
- Always focus on your strengths – Doing what works best for you and your JV is the key to keeping your JV alive and thriving.
- Analyze good and bad – Evaluate the difficulties of your JV and try to discover whether it is due to consumer panic and fear, or whether it is a normal cycle of economic swings.
- Look for ways to improve – Your JV’s success through economic recession depends on your ability to find ways to improve and do business during tough times.
So how will you approach your attitude in order to wade through the economic climate? Will you be pessimistic and give up hope? Or will you face the raging rapids and find the silver lining along the cloudy path?
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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