You heard that the fastest way to increase your client list, your market reach, and your income is through Joint Ventures, but you don’t do it because:
You don’t know how
- You heard about the failures and don’t want to be one of them
- You don’t approach a prospective partner because you fear rejection
The 2 BIGGEST mistakes that lead to failure in a Joint Venture are:
1) Not making sure that you are a good fit for each other as partners
WHY IS THIS A PROBLEM?
Because you may later discover there are too many differences between your company culture, your vision, your values, your priorities, your personality style, your end goal. These issues or others cause a breakdown leading to dysfunction and breakup of the joint venture. This can be prevented. Keep reading!
2) Not discussing the details of your joint venture and writing your decisions
WHY IS THIS A PROBLEM?
Because memories fail, misunderstandings abound about who said what; who promised what and all the details that must be discussed, decided upon, recorded and regularly reviewed.
How important is all of this to your joint venture success?
As with life overall, most business mishaps have to do with relationships and where there are partner ownership and joint ventures, the first and foremost relationship is between the partners. The better the communication, trust and respect at the top the more the business functions successfully including everyone from employees to customers. Ultimately it all gets reflected in the bottom line.
When the communication is troubled so is the business venture. Poorly executed plans with the wrong partner doom the joint venture from the start.
The first and most important thing to do when choosing to partner with another business, whether it’s a big business or limited small joint venture is to get to know each other.
Here is How You Can Do It
Once you have connected with a potential partner, the next very important step is to find out if you are a good match, to feel comfortable with each other and to build trust.
Ultimately the conversations using the Template to guide you should bring you to greater understanding, knowledge of each other’s goals and visions, growing respect and trust.
Or not. You will also find out if you are not a good match. Be grateful for knowing it now and not later. Shake hands and go your separate ways.
- Learn how to have a joint venture
- This is not a boilerplate written by lawyers for breaking up
- Your Agreement will be personal and uniquely descriptive of your venture
- This Agreement template sets the foundation for strong and successful joint venture partnership relationship and includes a win/win exit strategy when the time comes
- Invest once and use repeatedly
- Improve communication skills that will carry over to all of your relationships
YOUR INVESTMENT FOR THE JOINT VENTURE AGREEMENT TEMPLATE AND AUDIO GUIDE IS $197