Don't take it personally when a potential joint venture 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 rejections, let's examine some of the reasons why a business owner may not be interested in partnering with you:

• They may not have time to add a partnership to their calendar.
• They may have had a bad JV partnership experience.
• They may be looking to sell their business.
• They 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 opportunities, a NO today could always be a YES tomorrow.

Just because one person said no, doesn't mean the next person won't say yes. Dig deep, find another potential partner, and approach them with a proposal… rejection is part of the game unfortunately.