This is the second article in a series of two.
In a previous article I introduced some important criteria when choosing partners for your dream team. Here is a short recap:
· Choose people you trust
· Choose people you enjoy working with
· Choose people who challenge you
· Choose people that are hungry to learn
This article continues the discussion how to build your dream team.
A joint venture, or JV, is the name for the entity created when two companies or individuals create a mutually beneficial partnership. Joint ventures can be a great means for small businesses to gain market share or increase their skills and services. In order to create a successful JV, however, there are a few things to keep in mind.
A joint venture entered into without research or caution is setting itself up for failure. If both parties don’t take the process seriously they could lose valuable time and money, or worse destroy their business. To avoid these pitfalls, there are several things one can consider: choose your partner carefully, make sure you share a common goal and above all, stay organized.
