Just curious if anyone has joint venture and if you find it valuable. Maybe it’s just a paid “be first in line” kind of thing? Thank you!
Like any partnership (even weddings) plan a potential divorce before you start.
Doing so together with your partner will expose any potential problems and limits the possibility of a frustrating relationship leading to a painful split…
Hope this helps.
Been in several. Have an exit strategy, don’t make the joint venture your entire income/job, plan for disaster and be willing to leave if it becomes a problem.
In general my personal experience is that to last they need careful planning on the front end with all sorts of what if scenarios talked about and discussed or they devolve into a horrific mess.
I have been involved in establishing numerous technology JVs. The motivation is generally about combining the partners’ strengths and technology, and expectations that the combination will result in synergies and creativity. When that happens, the results are gratifying to see.
Unfortunately, perceived synergies do not necessarily play out in reality. Examine your partners’ motivations carefully – unfortunately some JVs come about as a way to block weaker parties or perceived threats from making independent advances in the market.
If the JV is mainly motivated by financing, then be sure all traditional sources of investment have been exhausted first before you agree to take on partners.
As noted above by @OogieM, have a clear and detailed exit strategy that is agreed in writing by all members of the JV. Make frequent, cold and indifferent assessment of success, and be ready to pull the cord. Unwinding a JV can end up keeping lawyers well paid and investors blocked. Exit rules need to cover divvying up assets, liabilities, cash, intellectual property, prototypes, drawings, source code, physical assets, inventories, etc. etc.
I’m pretty sure OP is referring to Apple’s “Joint Venture” service for I.T. support.