Why You Can't Afford To Wait To Form A Joint Venture

People who become entrepreneurs and small business owners must take a large step into the realm of the unknown

. It is often a scary venture, full of unknown risks, and many do not have enough experience to deal with the risks. However the reward is what we seek - to become a successful business owner and developer of ideas that make money.

Why is it that successful entrepreneurs who have taken that giant step into small business ownership have an even tougher time moving forward with a JV idea? Fear has a tendency to cause paralysis in making decisions. A JV may be contemplated and dwelled upon, but actually deciding to make that move requires action. And if you're too swept up in the "analysis paralysis" mode, then you may decide to never decide.

The Dangers of "What Ifs"

So what happens if we wait and wait? What happens if we think about all the great things that could come from a JV, but dwell on the "what if" scenarios? Maybe it's the time commitment. Perhaps it's the fear of giving up control to a JV partner. Or it could be the fear of losing money in an unknown and untested JV partnership.

But you'll never know unless you try. You'll never experience the benefits and rewards unless you accept the risks and make the commitment to control them with sound business strategy.

Profit is Ticking Away

In fact, you could be losing money right now by not deciding. By wasting time, you are wasting money that could be earned. A JV with profit potential will never see the profit until it steps into the metaphorical foray. The sooner you decide to make a successful JV, the sooner you and your JV partner will enjoy the spoils of your efforts.

You could be doing more damage by waiting. You could be losing your self-confidence as well. Those who hesitate are not fully confident, and waiting only spreads the disease of lack-of-confidence.

Don't be Paralyzed by Decisions

What would happen if you got to the point where you made no decisions at all? Your lack of confidence in your decision-making ability would end up costing you your business and the very ability to function in society. You must make decisions every day. Whether it is to get up in the morning, which car to buy, or what to have for lunch, your daily decisions keep your life functioning.

The same goes for your business and your JV business. You must keep your business functioning and growing. Why wait when you can decide today? What is causing the hesitation? Do you need more information? Then decide to go find it. Haven't found the right JV partner? Decide to keep looking. The longer you wait the more excuses you will find.

Hesitation and lack of confidence is a big subject in business psychology. It plays a big part in JV psychology as well. You've already proven your ability to create a small business. Keep the momentum going by making the decision to form a JV today and start taking the steps necessary.

by: Christian Fea

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