September 19th, 2008 by admin
This may sound a bit obvious to you but you will be staggered that many entrepreneurs fail in this area.
The more targeted your database/list the better. Don’t expect to strike gold if you get these fundamentals wrong. Would you match a book on stamp collecting with a business selling toys. Normally this would be pure [...]
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September 18th, 2008 by admin
Okay this is going to cause a little bit of angst to some people and as you read this you may think that you are one of those people.
A reality check;
One of the most critical factors for any joint venture is to seek out products and services that sell or offer what people want. If [...]
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September 17th, 2008 by admin
There are so many ways to joint venture and much depends on what you are aiming to achieve.
There are lots of very easy to execute small deals that you can do with another business in a very specific and limited way. An obvious example is where a small phase one business with a new product [...]
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September 16th, 2008 by admin
I’m not certain where the expression “fail to plan and plan to fail” came from but there is some merit in this expression. Before starting your joint venture it’s mandatory that all parties understand what they want from the relationship.
Smaller or what I call phase one businesses often want to access a larger business partners [...]
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September 15th, 2008 by admin
We are going to have a look at what helps a joint venture become a great one. Consider these thoughts and ideas;
See if there is a way to test or trial your joint venture before having a major role out. For example you might start with a small project that has a high potential to [...]
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September 12th, 2008 by admin
As you may have gathered from reading these posts, businesses of any size can apply joint ventures to strengthen relationships, collaborate on projects, reduce costs and improve cash flow. As well as the benefits to joint ventures there are also risks.
Joint ventures provide a high degree of flexibility that other solutions don’t have. For example [...]
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September 11th, 2008 by admin
Before executing your joint venture, you must set out the terms and any conditions in a written agreement. This will help you to reduce any potential misunderstandings once the joint venture is up and running.
In many cases a simple agreement can take the form of a Memorandum of Understanding which could include;
Who the memorandum of [...]
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Tags: business owner, exceptions, florist, jeweler, joint venture partners, madness, relationship
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