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Don’t Take it Personally if a Potential Partner Turns You Down

How many risks have you taken in your life? If you own your own business, then chances are you’re a risk taker and you’re used to the concept of “what if?” You know that there are risks involved with life and with doing business. That’s why, when you take a risk and propose a joint venture to someone, it is important to be ready for either a yes or a no answer.

To help you prepare for the risk of a no answer, let’s examine some of the reasons why a business owner may not be interested in partnering with you:

o The business owner may not have time to add a partnership to their calendar.
o The business owner may have had a bad JV partnership experience.
o The business owner may be looking to sell their business.
o The business owner may be having family or business issues that you’re unaware of.
o The business owner may simply not be interested in your proposal.

So what do you do if the business partner you’re interested in says no?

The most important thing to do for yourself and your business is to look on the bright side. If they said no, they had a good reason and it wouldn’t have been a successful partnership. Step back and take a look at how you handled the proposal process. Is there anything you can take away or learn from the process, so that you’re more successful next time?

It is also important to thank the person for their time and leave the door open for future business. Maybe make a plan to contact them again in six months. It isn’t enough to ask them to call you if they change their mind, they likely won’t. However, if you contact them again in six months, maybe their circumstances have changed and it will be a better time.

Just because one person said no, doesn’t mean the next person won’t say yes. Dig in, find another potential partner, and approach them with a proposal. What do you have to lose?

Do a JV the Smart Way!

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