hitmeasap
Level X5
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Joint Venture.
If and when you're up for a Joint Venture, either when you want a partner for something you're about to do, or if you're looking for something to join as a partner.. What do you do?
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Most joint ventures are incorporated, although some, as in the oil and gas industry, are "unincorporated" joint ventures that mimic a corporate entity.
[Source]
Great topic Andre, I'm sort of like Lynne on this one. While it can be good to do a JV with someone. There must be an equal amount of give from that other other person that matches and lines up with the same amount of give that you put into it as well. I've done several JV's on things in the past. Mainly just on website projects. And have found that I've been doing most of the work and that other person, despite being all revved up about it at the start, wasn't pulling their weight and left me with the majority of the workload. This made things turn "sour" between me and that other person. And while I wanted to remain professional all the way through, it can be hard to tell someone that they're not putting in their fair share of the work needed to be doing without kind of insulting or offending them if you know what I mean.
I think if I ever do a JV with anyone again on another similar website project, I'll be the one that's in full control of everything and see them more as a helper that I can fire at any moment depending on their performance. So that if they're not pulling their weight and doing the fair share of the work that's needed to be done. I can drop them from the project and find someone else without having to work out any details on how much they will be owed and any other paper work should you enter into some legally binding contract with each other.
That said, if you find the right person, and it can take some research and vetting first. A JV can work out quite well provided you are as both as passionate about the subject as you are. That way you're both more inclined to put in all the work that's needed to make the JV successful! :)
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Lynne
I just have one problem and that is trust. I have such high expectations and quite frankly most people don't work as hard as I do. When it comes to putting the time in I'm just not sure I will be able to find someone as dedicated to projects as I am.
Yes someone can throw money at me so I have the finances to invest in my business but then I do all the hard work and they will benefit for how long?
I struggle with this because I find most people are takers and will give a little and take a lot.
I give a lot and I do things for myself and I just don't want to share anything with someone that doesn't deserve it.
It makes things a little tough for me. Andre I would love a joint venture partner for some things I am doing already and for some things I am going to be doing next year too. I just have one problem and that is trust. I have such high expectations and quite frankly most people don't work as hard as I do. When it comes to putting the time in I'm just not sure I will be able to find someone as dedicated to projects as I am. Yes someone can throw money at me so I have the finances to invest in my business but then I do all the hard work and they will benefit for how long? I struggle with this because I find most people are takers and will give a little and take a lot. I give a lot and I do things for myself and I just don't want to share anything with someone that doesn't deserve it. It makes things a little tough for me.
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