joint venture marketing
Your joint venture is a specific business endeavor with both you and your JV partner at the helm. You may be conducting a specific mail or Internet marketing campaign, or perhaps you have even developed a new product or service that is successful and looks to be a long-term venture. In any case, you and your JV partner will be dealing with not just customers, but with other businesses. How are you developing those relationships?
The Importance of Good Relations
Your business relationships outside your own business or JV are important. Why? Where do you get your raw materials? Who services your technology and equipment? Who delivers your product from your warehouse directly to the customer? Your JV depends upon many other businesses for success. Don’t you think it is worthy to spend time developing those business relationships as if your continued and future success depends upon it?
A simple rude or berating comment can sever a good business relationship. Who wants to work with difficult people? Your supplier may decide there are better pastures in which to make sales. Or your distributor may suddenly find that there is “no more room” in his warehouse for your product. Keeping your business relationships sharp and well nurtured will keep your business alive and thriving.
5 Ways to Stay in Good Favor
How does one continually develop good business relationships and keep a smooth flow of business going?
Listen – Always listen to the people from other businesses. They have specific policies and procedures they need to follow to keep their business alive just as you do. Listen to them if they have a problem.
Talk to the right people – Sometimes you need to talk to a decision maker rather than the person answering the phone. It is not uncommon that at times you need special consideration or a modification of their business practice to get what your JV needs. Don’t talk to a brick wall that goes by the book. Talk to the business owner or manager who may be able to get special consideration for you.
Be persuasive – Sometimes it takes a sales pitch to get a new business relationship going or to get special consideration as noted above. Avoid being belligerent or demanding. Using persuasion and kind words can go a long way to helping your relationship and developing success.
Empathy – Sometimes other businesses need things from you. Just as you may need something or special consideration from other business, this is the time you need to be empathetic and listen to the person on the other end of the line or in your office. Putting yourself in their shoes can help you make the right decision.
Use Professional Behavior – And finally, you will be appreciated and others will want to work with you when you use professional behavior. That means not yelling into the phone when you don’t get what you want. It means returning phone calls. It means following through on a request or letting a person know you need more time. It boils down to common courtesy. Be courteous, and you will always have good business relationships.
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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