joint venture marketing
What is one of the most efficient octane-filled fuels that propel your joint venture? Enthusiasm! If you’re excited about the possibilities and potential of making more money, your JV partner will be too.
The psychology of business can be a real asset in helping you and your JV partner reach new heights with your joint venture. And enthusiasm is one of those psychological keys. Webster’s defines enthusiasm as:
- Strong excitement…inspiring zeal or fervor
Who wants to fail when inspired with zeal or fervor? With enthusiasm, you can make a new contact, sell more products, and even train employees to do better. And the best part of enthusiasm is that it is transferable.
So how do you transfer and build enthusiasm with your joint venture partner?
Give yourself and your JV partners something to accomplish: a goal. A big one! Talk together and set a goal to earn a certain amount of revenue. It could be $2,000 or $2 million – whatever motivates you both to make it happen.
Your goal may not even be specifically revenue related. Your joint venture could be for the purpose of saving money on production or expenses. Even joining to save money falls to the bottom line and translates into more net income for you and your JV partner.
And don’t forget to reward yourselves. Part of motivation is enjoying a nice celebration when the goal is reached. Pop a bottle of wine. Take your JV partner to dinner at a nice restaurant (it’s tax deductible!). When you reward yourselves for a job well done, you set up a pattern of excitement and enthusiasm to reach the next goal.
Trust can take a lot of effort on either part of you or your JV partner. If you truly feel you can trust your JV partner, tell them. A central part of motivation is the feeling of trust that someone has put into you. By telling your JV partner that you trust them, it gives them the incentive to do well and not let you down.
The Old Pat On The Back
Good old encouragement goes a long way. Find ways to encourage your JV partner. It could be by coming up with a creative idea. Even saying, “that’s a great idea” is a fabulous way to build enthusiasm in your joint venture.
And don’t forget to build enthusiasm by building teamwork. Talking together and getting excited about a big goal can really get the enthusiastic juices flowing.
Sometimes your joint venture partner may just need a little encouragement due to a setback. Tell your partner the setback doesn’t mean failure. Tell them, “We can do it!” This kind of pat on the back can help your JV partner get back on track and running at full speed.
Your use of business psychology can have a tremendous effect on the people around you: your employees, your customers, and your joint venture partner. Enthusiasm is one of those positive psychology tricks that help reach a goal faster, produce more, sell more, and even just help people enjoy the job you’re doing.
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