January 16, 2018
Just in case you needed a list, here’s one of 50 ways that joint ventures can add a boost to your business. Among the highlights are the ability to: Increase your credibility by teaming up with other reputable, branded businesses Gain new leads and customers Offer existing customers a wider range of new products and services Find and create new distribution channels for your products Offer additional bonus products and incentives I’d suggest caution when relying on some of the financial claims, such as “you can construct most JV deals with little or no money,” “you can beat your competition,” “you can start almost any business at little or no cost”. Like diet supplement ads, results aren’t always representative, nor can they be guaranteed. Particularly with the claim that “you can solve your business problems,” note that not all problems can be solved with a joint venture. In fact, you can compound your problems with the wrong JV partner, or with a less-than-clear understanding about what each partner will do or how money will flow. …
Continue ReadingHere’s a helpful post by Chris Flett, author of What Men Don’t Tell Women About Business, outlining four important steps in developing a profitable venture. To summarize: Set expectations Develop a style of management that all can…
Read MoreIt’s coming up to that time of year again. The time that most business owners dread. Tax season. Most entrepreneurs would rather have root canal surgery without anesthesia than go through the nightmare that is…
Read MoreFrom the other side of the globe, I came across an interesting post on “Mixing Business with Friendship,” which adds a slightly different nuance to our earlier friends and family post. It agrees that “[n]o…
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