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Checklist for a Joint Venture
- What is your goal for this joint venture? What benefit do you bring to the other person and what benefit do you hope to get? Write it all down.
- Do you have a partner in mind? If not, how do you plan to find one?
- Does your potential partner compliment your skills and strengths?
- Have you thoroughly researched your potential partner?
- Is your potential partner ethical, honest, and professional?
- Have you written up a detailed proposal?
- Do you have a plan as to how you will contact your potential partner – email, phone, etc.? When?
- Check your attitude. A positive, cooperative attitude is essential for a successful partnership.
- What if your partner is not interested – are you prepared to negotiate?
- Do you have a legal agreement if needed?
- Does your proposal include equal amounts of time, effort, and resources on both sides?
- Is this of equal benefit to both sides?
- Do you have a promotional plan in place?
- Do you have someone to handle every task, and are the responsibilities and profits being shared fairly?
- Do you have checks and balances in place to track sales and profits?
For a more detailed course on joint ventures and how you can profit from there, click below.
Easy Partnerships
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