joint venture marketing
The use of psychology in business has taken a stronger position than ever before. Where once workers were expected to produce and be happy simply because it was their job, business leaders are now employing positive psychological factors that help make jobs more fulfilling, more productive, and with a better sense of self-identity.
You can use the same techniques when forming a joint venture. Since you and your JV partner are willing to work together in hopes of financial success, why not make it fun and exciting along the way as well?
So what can you do with positive psychology to make a more successful JV? Anything that makes you and your JV partner’s job easier and more fulfilling is the key. Here are a few ways you can design your JV with positive psychology in mind:
Job Design – What will your job be within the JV structure? You and your JV partner will need to determine who will perform what tasks and how you will get them done. Rather than simply deciding, “you do this, and I’ll do that,” include certain factors that will make the jobs more interesting and thus more productive.
For instance, rather than simply agreeing to perform the bookkeeping duties, agree that your tasks be challenging and have a certain amount of control. Your joint accounting functions may be to create dazzling reports, graphs, and analysis of the JV income, expenses, and outlook. Give yourself a challenging job with a high level of control, as well as high expectations, will provide more motivation to do the job well.
Get Creative – Nothing sparks higher productivity than allowing yourself to explore your creativity. Creativity may be simply designing your work hours to match your highest and best productivity levels, or designing a workspace that is engaging, friendly, and fun. Creativity can also be unleashed in designing products and services for your JV. Let your creativity run and watch the success follow.
Teamwork – There is a synergy to teamwork where the final result is greater than the sum of all parts. Flying solo can be fraught with unexpected challenges, counter-productive, and the results can be less than desired. Working with one or more people has added advantages such as healthy competition, motivation, and can better equip to meet the goals set out in the JV.
Rewards – Don’t forget to reward you and your partner for a job well done. One of the best psychological techniques in business is positive reinforcement. When you and your JV accomplish a goal reward yourselves with a nice celebratory dinner, or an extended weekend, or perhaps even a big celebration in the form of a vacation or retreat.
There are several qualities and techniques that can set apart a JV with a psychological promotion. Explore the possibilities of how positive psychology can give your JV an advantage for success.
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.