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Self Esteem and Your JV: How to Maximize the Success of Both

July 31, 2009 by Christian · Comments Off 

Most everyone feels that they have a relatively healthy self-esteem, especially business owners. You might recognize positive self-esteem from phrases such as, “I feel good about myself”, or “I like the way things are going.” However, negativity about our ability to perform our duties with our joint venture and our own self worth can creep into our daily vocabulary. If you have recently caught yourself saying things like, “nothing is going my way”, or “I just can’t seem to do things right”, then you may be in need of a healthy dose of self-esteem injection.

Every day is a new struggle to maintain a healthy self-esteem. Some people can get pegged with proverbial rocks and boulders on a daily basis while working on business, their JV, and family – yet still shine through with a shining and untarnished self-esteem.  Others, however, may be susceptible to the rocks and boulders in their path. They get weary of traveling on such a rocky road and wish that things would go differently.

Instead, you should be thinking about how we can traverse the bulky path that makes it work for you. Our self-esteem and JV success depend upon it. Why? Because we cannot control the path upon which we walk, but we can control how we feel about it.

How do you fix or improve your self-esteem? There are many things that help with self-esteem, but here are just a few easy steps you can do each day that will lead to more success in your business and joint venture endeavors:

  • Positive Talk – Though it may sound silly sometimes, you can go a long way with improving your self-esteem by giving yourself positive talk. Saying to yourself things like, “I am worthy of my job”, or “I feel great about how my JV is progressing”, can start to improve your inner psych. Soon your subconscious self-talk will start to improve as well.
  • Dwell on Past Success – You know when you have felt great success. Remember your triumphs often and it will give you a mindset that you are successful. Events such as making a big sale or completing a strategic goal can give your subconscious a boost in the self-esteem department.
  • Dress for Success - Dressing like you mean business can have a huge psychological effect on your self-esteem. You can improve your relationship with your JV partner, as well as impress clients and other business relationships with the dress you choose. Classy, business attire exudes an air of confidence, security, wealth, and importance. All that goes a long way toward improving your self-esteem.

Your JV should not take up all your time, effort and focus. But a struggling JV can result in a low self-esteem because of the difficulties encountered. Keep in mind these helpful reminders and you will be on your way to keeping your self-esteem in a healthy place.

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.

Filed Under: Business, Business Plan, Entrepreneur, Joint Venture Marketing, Joint Venture Partners, Marketing, Money, Psychology of Joint Venturing, Small Businesses, entrepreneurship, making money, strategic alliances
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When Will You Join The JV Superhighway?

July 29, 2009 by Christian · Comments Off 

Small businesses in 2009 are struggling to keep a footing on the treacherous economic cliff face ahead of them. Most are taking the solo route and trudging through the mire of economic slump by themselves. And yet, others are finding a happier and easier road to wading through tough economic times, and even finding better success than going solo by joining forces and forming a joint venture.

A JV with a complementary partner is a great business strategy for increasing revenue and sharing resources. But there are many reasons to join up and form a JV. If you haven’t formed a joint venture yet, here are some ideas that could spark your business back to life:

Merge or Acquire Marketing Contacts and Expertise

Marketing is the lifeblood of a business. Without letting your customers know about your service or product, you are not much in business. While you may have a solid base of marketing contacts and a reasonable customer list, will it sustain you through the tough economic climate when clients are spending less?

With a bright new joint venture endeavor, you could combine your marketing list and expertise with your JV partner. Marketing requires creativity and time to establish a marketing base and know how to reach customers. You can expand your potential market not only by combining contacts, but alto penetrating into new markets with your new JV product or service.

Share Unique Skills

Everybody is an expert at something, and nobody is great at everything. You may be a keen and creative marketer, but have no mind for the accounting and administrative management of a business. Your JV partner may complement your skills and offer a great way to solve many business problems.

Accelerate Your Revenue Growth

A stagnate revenue stream can get a boost with a combined JV effort. Form a joint venture and get a business plan and strategy in motion. Your combined markets and resources can help jump start your income and even decrease your expenses. Find a JV partner whose services or products compliment yours and will appeal to your combined customers.

Accelerate a Business Concept to Market

Can it be true that two heads are better than one? If you and a worthy JV partner can formulate a JV with a new niche in an untapped market, you may find that you’re combined efforts results in a new source of revenue. You might design a new combination of your products, or a new product altogether, that is in high demand. With a concentrated effort, you and your JV partner can get meet that market need and enjoy the financial results.

The business world can be a scary place in times of economic depressions. Don’t face it alone. Get help with a worthy JV partner and discover your potential for joint riches.

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.

Filed Under: Business, Business Plan, Entrepreneur, Joint Venture, Joint Venture Marketing, Joint Venture Partners, Marketing, Money, Partnerships, Small Businesses, making money, strategic alliances
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How Do You Handle A JV Crisis?

July 27, 2009 by Christian · Comments Off 

Every day, you are subjected to the slings and arrows of business. Machinery breaks down. Shipments get lost. Airplanes are delayed. And in each of these types of scenarios, you are tested on your ability to effectively deal with the situation in a manner becoming of a business owner and a joint venture partner. However, when your JV rubs against friction how do you handle it? Are you a pro, or do you wilt and become a feather in the wind?

Crisis is usually not easy and most certainly unpleasant. But your attitude and leadership toward solving the problem(s) and getting resolution tells volumes about the success of your JV and your relationship with your JV partner. If you can improve upon the ways you handle and lead crises, you can bet you’ll find greater satisfaction with your JV.

So what are the characteristics of an effective crisis leader? A great crisis manger will have the ability to:

See the cause of the crises - A crises happens when something happens that wasn’t according to plan or strategy. What caused the machinery to break down? Was it faulty maintenance, or perhaps a warranty problem? Knowing the source gives light to the path of fixing the problem.

Know what resources are needed to solve the crises – A solution to a big problem requires resources. Continuing on the broken machinery example, a good crisis handler will know the tools needed to fix it, the right mechanic to summon, or perhaps the right tech to call for an over-the-phone repair.

Admit strengths and weaknesses – You may have the right tools to fix your machinery, but you may also not have a clue how to disassemble the parts. Know what you can and cannot do, and lean solutions toward your strengths.

Identify the obstacles - Any solution may have obstacles that need to be overcome. You may not have the right tool, or it may be the weekend and a technician cannot be called for repair of the broken machinery, etc.

Find multiple solutions - A broken down machinery problem may have many solutions.  One solution may be to fix the machinery. Alternately, you could hire someone else with the same machinery to do the work if you’re in a hurry. Another solution could be designing a client order that requires different machinery that is in working condition.  Think outside the box.

Know that a solution exists – A good crisis leader doesn’t give up. There is a solution for every problem.  It just requires creativity and thought to discover it.

Encourage others to do their best - A crisis puts stress levels on overdrive. A good crisis leader will have the ability to encourage and pep up another JV partner and believe in their abilities to work toward the solution.

Crisis leadership is not an inherited trait. It takes practice and experience. Learn to get a grip on your top JV problems as they arise and let your inner crisis leader emerge.

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.

Filed Under: Business, Business Plan, Collaboration Marketing, Deal Making, Entrepreneur, Joint Venture Marketing, Joint Venture Partners, Jv Partner, Marketing, Partnerships, Small Business Owners, Small Businesses, entrepreneurship, internet marketing, making money, partnership, strategic alliances
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Twitter Weekly Updates for 2009-07-26

July 26, 2009 by Christian · Comments Off 

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Tips for Maintaining Focus on Your JV

July 24, 2009 by Christian · Comments Off 

Your joint venture may be an exciting and profitable time in your business career.  However, a JV can take a great of time away from your own business and other commitments. Every day, you may find that your “to-do” lists get larger and larger and your available time becomes less and less. How do you focus on the important things and get things done more efficiently?

Improving efficiency requires that you learn discipline and focus. Worries about the economy, business concerns, family issues, and other distractions can take our focus and shatter it in dozens of different directions. But are you stuck in a hopeless routine and have no hope of getting on track? Not at all!

To help with your focus, you need to take control of your time and control the environment in which you perform your tasks. Here are some important steps:

  • Be Patient – First of all, you cannot expect to be superhuman. You have limitations and you need to accept that. And you cannot expect to see absolute improvement right away. Work your new focus routine step by step and be patient with the results you get.
  • Set Expectations – Knowing that you have limitations, you need to be able to set realistic expectations. Again, don’t expect to have superhero abilities and be able to leap tall buildings in a single bound and be faster than a speeding bullet. Set a goal each day for what you can realistically expect to achieve with the right attitude and focus. You will probably find that your abilities and efficiency improve over time, and you can adjust your expectations accordingly.
  • Find Routine – A big part of focus and efficiency is setting a routine. You can be more productive when you focus on a few things, or even one thing, at a time.  Instead of answering the phone each time it rings, set a routine to check messages and return calls once in the morning and once in the afternoon. The same goes with another big time waster – email! You must learn to focus on emails only periodically. Become efficient at knowing when to delete an email, save it for later review, or respond right away. Your little routines throughout the day can add up to big improvements in focus and efficiency.
  • Control Your Mental and Physical Priorities – Within your daily routine; you also need to mark priorities that help you mentally and physically. That may mean stopping to eat meals at certain times, setting time for exercise, or even taking a short 15 minute break to simply read part of a novel. When your body functions at its peak, your focus improves dramatically.

Feeling like you are in over your head gives you unwanted stress and causes a breakdown in efficiency. Take a little time to get your mental and physical game in the starting block, and set your goals and routine so that you can enjoy the challenges and benefits of your JV.

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.

Filed Under: Business, Business Plan, Deal Making, Entrepreneur, Joint Venture Marketing, Joint Venture Partners, internet marketing, making money, strategic alliances
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Tips for Maintaining Focus on Your JV

July 24, 2009 by Christian · Comments Off 

Your joint venture may be an exciting and profitable time in your business career.  However, a JV can take a great of time away from your own business and other commitments. Every day, you may find that your “to-do” lists get larger and larger and your available time becomes less and less. How do you focus on the important things and get things done more efficiently?

Improving efficiency requires that you learn discipline and focus. Worries about the economy, business concerns, family issues, and other distractions can take our focus and shatter it in dozens of different directions. But are you stuck in a hopeless routine and have no hope of getting on track? Not at all!

To help with your focus, you need to take control of your time and control the environment in which you perform your tasks. Here are some important steps:

  • Be Patient – First of all, you cannot expect to be superhuman. You have limitations and you need to accept that. And you cannot expect to see absolute improvement right away. Work your new focus routine step by step and be patient with the results you get.
  • Set Expectations – Knowing that you have limitations, you need to be able to set realistic expectations. Again, don’t expect to have superhero abilities and be able to leap tall buildings in a single bound and be faster than a speeding bullet. Set a goal each day for what you can realistically expect to achieve with the right attitude and focus. You will probably find that your abilities and efficiency improve over time, and you can adjust your expectations accordingly.
  • Find Routine – A big part of focus and efficiency is setting a routine. You can be more productive when you focus on a few things, or even one thing, at a time.  Instead of answering the phone each time it rings, set a routine to check messages and return calls once in the morning and once in the afternoon. The same goes with another big time waster – email! You must learn to focus on emails only periodically. Become efficient at knowing when to delete an email, save it for later review, or respond right away. Your little routines throughout the day can add up to big improvements in focus and efficiency.
  • Control Your Mental and Physical Priorities – Within your daily routine; you also need to mark priorities that help you mentally and physically. That may mean stopping to eat meals at certain times, setting time for exercise, or even taking a short 15 minute break to simply read part of a novel. When your body functions at its peak, your focus improves dramatically.

Feeling like you are in over your head gives you unwanted stress and causes a breakdown in efficiency. Take a little time to get your mental and physical game in the starting block, and set your goals and routine so that you can enjoy the challenges and benefits of your JV.

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.

Filed Under: Business, Business Plan, Deal Making, Entrepreneur, Joint Venture Marketing, Joint Venture Partners, internet marketing, making money, strategic alliances
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3 JV Risks and How to Avoid Them

July 22, 2009 by Christian · Comments Off 

Forming a joint venture can offer a flexible and easy way for two different business owners with unique businesses to work together and create more profit. However, a JV does not come without risk. There may be many pitfalls that come along with the responsibility and benefits of a JV. Here are a few and how you can avoid them.

1. Risk of Different Values

When two or more people work together, there are always two or more opinions, especially when it comes to business strategy and profit goals. Many times, business owners form a JV in the hopes of making an easy buck, but find that it is more trouble than anticipated when opinions differ on how to proceed with the JV strategy.

When you form a JV, you will likely need a great deal of diplomacy in order to communicate effectively with your JV partner, as well as flexibility in reaching joint decisions. Before you form an official JV, be sure you can talk openly with your potential JV partner and can easily get along, even when opinions are not the same. Trust is important as well. If you want a successful JV partnership, you and your partner need to trust each other to carry through on commitments.

2. Risk of Losing Money

Any business venture is a financial risk. You risk capital resources, including cash, to provide a product or service that the public wants to buy. And there is always a chance that you can lose money. A JV is no different. Be sure to do your homework before committing to a JV and calculate ahead of time whether the JV will be successful. That means performing market research, finding the right niche, planning for capitalization, and marketing your joint product or service smartly. This list is not inclusive and there are many other things to consider.  But planning allows you and your JV partner to calculate and control the financial risk.

3. Risk of Losing Credibility

Choosing the right JV partner can be a big part of a successful JV. However, you can risk your own professional reputation and credibility by joining forces with the wrong partner.  How? Say for instance that you are a successful professional attorney and you form a JV partnership with a CPA who has previously been investigated for fraud and is in jeopardy of losing his license. A simple association with someone with questionable character can hurt your own client base and cause current and future customers to look elsewhere for legal advice. Be sure you have a credible and worthy JV partner before committing to the venture.

Your potential JV is not a guaranteed success. You must take responsibility to calculate the potential risks and form strategies to reduce and control them, and in some cases, eliminate them. When you have done your homework and treat your JV as a serious business challenge, you will be on the road to potential profit and fortune.

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.

Filed Under: Business, Collaboration, Entrepreneur, Joint Venture, Joint Venture Marketing, Joint Venture Partners, Marketing, Partnerships, Small Businesses, internet, making money, strategic alliances
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Forming Your Joint Venture Business Plan

July 20, 2009 by Christian · Comments Off 

Like any business that expects to succeed, your joint venture needs to have a plan – a business plan allows you and your JV partner to form a blueprint of your success and a strategy for achieving it. If you are forming a new JV, or have an existing JV without a business plan, here’s how to get one started right away.

A business plan doesn’t have to be a novel-length document. It could simply be a few pages that describe you and your JV partner, why you’re in business, and how you expect to achieve success. However, a more complicated JV that may require outside financing may require a more detailed business plan with professional biographies, marketing strategies, and financial projections.

Whatever the length and detail of your joint venture, here are the basic elements that all business plans need to have:

Executive Summary

Though this section is at the front, it should be written last after all the details have been thoroughly completed. The Executive Summary should be written meticulously and concisely and serves as an intro to the business plan. It should be about a few paragraphs, or no more than a few pages long, and contain just the fundamental nuggets of the rest of the document. Think of the summary as a “sneak preview” that will tantalize the reader into the rest of the document.

Company Description

This section should discuss your vision statement, the people, and business profile. It should contain details about you and your JV partner and include a bio your experiences and expertise. You will also want to talk about what why the JV is in business and what you plan to sell.

More detail in this section could include:

  • Organization & Management
  • Product or Service Line
  • Management Details

Market Strategies

You need to identify who your market is and how you will market to them.  Discuss why your product or service fills an identified and unsaturated niche. Show details of market research performed. And be specific about your marketing strategies and goals, as well as how you and your JV partner will work together to tap into potential customers.

Competitive Analysis

Your JV is not the only one doing business in your niche. Include this section so you clearly identify who your competition is and why your product or service offering stands apart from the rest.

Financial Projections

This section is essential if your JV is looking for outside financing, such as loans or investors. Even if you do not show the plan to anyone else, it’s a good idea for you and your JV partner to formulate financial projections showing your expected cash outflows and anticipated revenues. A financial expert who can develop accurate projections based on dependable research should complete a detailed financial projection.

With a dependable business plan in hand, you and your JV partner have a reliable blueprint for achieving success. If you don’t already have one, get together with your JV partner and discuss forming a plan right away. It will help lead you down the road to a thriving JV!

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.

Filed Under: Business Plan, Collaboration Marketing, Deal Making, Economy, Entrepreneur, Joint Venture Marketing, Joint Venture Partners, Jv Partner, Partnerships, Small Business Owners, Small Businesses, entrepreneurship, making money, strategic alliances
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Twitter Weekly Updates for 2009-07-19

July 19, 2009 by Christian · Comments Off 

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Why You Should Pace Yourself and Your Joint Venture

July 17, 2009 by Christian · Comments Off 

Are you working at a rat race pace? American culture and norms dictate that we should give 100% to our jobs, 100% to our family, 100% to our religious and spiritual life, and the list goes on. Our culture is so dependent on overworking that it should be a
Constitutional amendment. But how can we possibly sustain such a pace with so much focus being sent in too many directions?

Each one of us feels a need for speed in getting things done. Certainly in business, it is no different. Your joint venture must be proactive in procuring business and react to various daily business stimuli. And any business owner and JV partner recognizes the importance of quick and decisive action, especially in a down economy.

You Can Afford To Slow Down

The fact is that you can accomplish more in less time when you focus and consciously direct your attention and efforts toward a specific task. Of course sometime’s quick decisions need to be made and put into action in the course of business. But are you really taking adequate time to come up with and compare alternative solutions? Sometimes a quick decision is not the best decision.

By taking time to reflect and weigh potential consequences in your business and JV decisions, you are able to make decisions with more confidence with more effectiveness.

How Slow Should You Go?

Of course, you want your JV to succeed and do everything you can to keep it moving along to produce profit for you and your JV partner. But how do you take the time to become more effective in less time? How do you decide how much time you need for major decisions?

  • Determine a timeline – First, with each decision you need to make consider when your decision must be made. A quick decision may be required to satisfy a customer or react to a business situation. But take a moment to consider whether more time may be more beneficial in the end. With additional time, you may be able to brainstorm and come up with a better solution for your customer or a better response to a business question. Sometimes it may be a few minutes or perhaps it may take weeks. But with any business question, consider the impact of your bottom line if you decide too hastily.
  • Reflection - Once you know you have some time, take the time to reflect. Reflection is an important part of pacing yourself. Taking quiet time to think and analyze the possibilities and alternatives gives you an important tool in making decisions, and that is confidence.
  • Use your experience – In the writing realm, the common adage is “write what you know.” The same holds true in business. Use your experience and expertise that you’ve accumulated over the years to come up with solutions and make decisions. You may know that a strategy will not work based on past experience, or you may know what works like a charm.

Recognize that you must take risks and make decisions that may not work well. However, by taking the time to consider the possibilities, you allow your JV to take calculated risks – and that is how you succeed in business.

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.

Filed Under: Deal Making, Economy, Entrepreneur, Joint Venture Marketing, Joint Venture Partners, entrepreneurship, making money, strategic alliances
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