As you surely know the downturn in the economy has made times more challenging for the entrepreneur.
However, any savvy marketer knows that developing powerful partnerships can be the key to surviving any economic storm. So in this post lets look at how you can successfully connect with influential marketing partners in your industry.
Before choosing a JV partner make sure that you:
• Know exactly what they want most from the venture… It may not be what you assume.
• Are fully aware of your own goals… and that you’ve communicated them to your would-be partner.
• Both feel that you can better achieve your objectives working with each other
The Platinum Rule
We’ve all heard of “The Golden Rule” – Treat people the way you would like to be treated. And while the concept is sound, it becomes problematic because it assumes that everyone has identical desires and perceptions.
Authors Tony Alessandra and Michael J.O’Conner rephrased the tenet and renamed it “The Platinum Rule.” It goes like this, “Do unto others as they’d like done unto them.” This requires a real understanding of others and what motivates them… and there’s no better way of learning that than by asking them. Otherwise, we risk offending others by incorrectly presupposing the answer based on our own sensibilities.
Following are some quick tips for developing healthy joint venture partnerships…
• Do your research ahead of time… make sure they’re the type of person you like and their business is healthy and respectable.
• Approach them with a “what’s-in-it-for-them” stance… not how great you are.
• Be specific…don’t leave things “squishy” regarding anything – this is how misunderstandings begin.
• Respect their time… let them know you value theirs as much as your own.
• Develop simple deals… especially ones which don’t require either of you to “look over the others’ shoulders”.
• Give before you get, particularly if you’re just starting out… people are understandably more leery of opening up their hard-earned business resources before you’ve proven yourself.
• Avoid using a “sales pitch”… it’s no way to begin a give-and-take partnership.
• Don’t obsess over who’s getting more out the deal… make your best deal and forget about it.
You will find that solid partnerships can be the key to thriving in a challenging economy. Go out an find one today!
Mitch Meyerson, author of Mastering Online Marketing and Founder of Guerrilla Marketing Coaching
Become A Certified Guerrilla Marketing Coach: www.GMarketingCoach.com