Are you considering a Joint Venture?

Sat, May 26, 2012

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Are you considering a Joint Venture?
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Recently I wrote about the feeling of jealousy in business and how sometimes we can over look some of the biggest opportunities in business because we are too proud to join forces and instead continue to go it alone.

After writing that post I decided to take a leaf out of my own (not yet written) book and look at the possibility of joint ventures in a different light.

Having been on the Tribe scene for some time now, I decided I wanted to set up a separate Facebook Tribe Page to assist others to get more exposure in their business. The name of my group would be ‘The Beth Tribe Buzz’.
And then a little light bulb went on in my head (don’t you just love it when that happens!)…

‘What could be better than one Beth’…I thought to myself?…’Two Beth’s of course.’

And with that I got on to Skype and contacted my good friend Beth Allen. Many of you will I am sure already know Beth. Amazingly we seemed to take our businesses online at the same time, it was late in 2009 that we supported each other through our first few months as newly established bloggers.

To cut a long story short, Beth and I, apart from the name seem to have a lot in common, and I was over the moon when Beth said that she would love to join forces for The Beth Tribe Buzz…and so I would like to introduce you to our new baby.

This brings me back to the point of my post! I just wanted to touch on why you should consider Joint Ventures and Secondly on some tips that might help you make a decision if a partnership is worth pursuing.

What is a Joint Venture?

Ok so I am not going to get too into the Legal aspects of a Joint Venture here. But put very simply. A Joint Venture is when two or more businesses or even two individuals come to together, pooling resources, expertise and a common purpose to achieve a particular goal.

On a grander scale business men and women might consider joint ventures for the development of new products, moving in to new markets, business expansion etc.

Obviously entering into many Joint Ventures has financial implications, however today I am simply using Joint Venture to describe a coming together of likeminded people to achieve a common goal.

However, regardless of financial gain, JV’s such as
The Beth Tribe Buzz are a great ‘warm-up’, experience, for entrepreneurs who are likely to partner up in the future. After all they are a great dry run, to work out how you work together, to learn your strengths and weaknesses, to develop relationship and networking skills and find out whether you are cut out to work with others.

How to find a great business partner?

Before you jump in to bed with any old Tom, Dick or Harry you might want to consider the following:

Finally I just want to say, take your time!! Follow your intuition and don’t doing anything rash. If you are unsure then it’s probably not right. But give your relationship the test of time before you commit to any Joint Venture, if you still feel passionate about JV after the honeymoon period is over then go for it!

I would love to know your stories of Joint Ventures! What has worked well or not for you and what would you do better if you could do it all over again. Please support Beth Allen and myself in our new partnership. Please join The Beth Tribe Buzz and share your best content.

We look forward to getting to know you better.

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31 Responses to “Are you considering a Joint Venture?”

  1. Nat from successful entrepreneurs Says:

    Hey Beth

    Firstly have gone over and “like”‘d your FB page!

    Secondly I am currently involved with 2 separate joint ventures and loving them both. I totally agree with you in what you say that you need to look for in a JV’ing partner. I started off in a JV with someone when I was feeling, well lets just say “something was just not right” and I had to pull out. This is not a good situation to get yourself in so I have learnt ALOT from that situation!
    This is a great post, looking forward to seeing what more you guys produce together :-)
    Nat @successful entrepreneurs´s last [type] ..Is Your CommentLuv All Of A Sudden Not “Sharing The Luv”


    bethhewitt80 Reply:

    Thanks Nat, you are so right. You probably know from the beginning whether something is good or not and I am glad that you have had that experience so that you can move on and have much more success. I appreciate your continued support.

    Beth :)


  2. Beth Allen Says:

    Hey sweet mama!

    What a fabulous way to kick off our new partnership! Except how come I don’t get to look all relaxed with a glass of vino at the end? ;)

    Great thoughts on choosing a good match for a JV. Finding someone whose skills will compliment and add to your own, whose commitment and passion are closely matched, and who you can trust beyond a shadow of a doubt are all essential to a success outcome.

    We will definitely make a great team, Beth….thank you for being so amazing. I look forward to everything that lies ahead of us, and couldn’t be happier about who I’m on the journey with!

    Oh, and well done on the picture for The Beth Tribe Buzz….I love it.
    Beth Allen´s last [type] ..Lessons for Winning in Business &amp Life


    bethhewitt80 Reply:

    Hey Beth,

    So glad you like the picture…if you have a picture and a glass of vino I would be happy to add lol!!

    Hopefully we will be able to crack open the Champagne soon! :)

    Beth xxxx


  3. Michael Berry Says:

    I’ve never thought of a JV in our business Beth but I’m always open to new ideas. I’ll check out your site as I’m a little unclear on the purpose of creating another site. That’s OK I’ve been unclear on a number of things in the past that ended up working out very well for me.



    bethhewitt80 Reply:

    Hey Michael,

    The new site is just a new tribe page for you to syndicate your best content. Help get you more exposure. :) Hope that makes more sense. Sorry if I confused things.

    Have a great week :)


  4. Kareem Williams Says:

    You lady’s are doing some big big big things and i am alway happy to see joint ventures, connecting together to build a empire that is out of this world.
    Kareem Williams´s last [type] ..Be A Leader Not A Follower In MLM Business


  5. Keysha Bass Says:

    Way to go Beth! I will definitely find you all! Wish you much success on your joint venture.
    Keysha Bass´s last [type] ..Do you have what it takes to be a Reallionaire


  6. Internet Marketing Kris Says:

    Outstanding post… I was just thinking the other day, that the most profitable and successful ventures I have ever participated in, are the ones that I had a partner in some form. However, some of the worse ventures were with partners as well.

    Finding the right fit is paramount! But if you can find the right synergy, you can feed off of each other to grow to new levels! I believe the major influence of a partner, is the drive it creates in one’s self to do better, to not let down the other. This one up-ing drives me like no other!

    Thanks again…
    Internet Marketing Kris´s last [type] ..Is Google Aware of your Efforts


  7. Sherman Smith Says:

    This is a great idea beth. In one of my companies we call them “workout partners”. Thanks for these tips in finding a business partner!



  8. John from sql dba Says:

    I’m currently faced with making a decision on a Joint Venture that I really didn’t go looking for. To be honest the idea of it doesn’t make me all that comfortable, so I’m searching out other’s experience to see if I’m just being overly cautious or not.
    Can’t really say that what you’ve written here has eased my mind about it any, but you have given me some good food for thought that leaves me better equipped to make a judgment on the matter.


    bethhewitt80 Reply:

    Hi John,

    If you are questioning a JV and still feel uneasy then perhaps it isn’t a JV that should be pursued. Pay attention to your internal gauge if you are feel worried, anxious nervous then it might be a good indication of whether its right for you. Our instinct is a great way to know what to do when decisions are to be made.

    Beth :)


  9. Val Wilcox Says:

    Wonderful post about joint ventures. You and Beth will make an awesome team! Your tips are sound and a great starting place.
    Good luck you two!
    Val :)
    Val Wilcox´s last [type] ..A Mind That is Stretched…


  10. Rick Salas Says:

    It was a great Idea to partner with Beth. Fortunately for people that use these strategies there are so few people using them. It’s a good idea for network marketers to start looking for people to partner up with such as copywriters, graphic artists and web designers to be the person that works with them to get products and services online. By providing their marketing expertise people can negotiate for sales and profits.
    Rick Salas´s last [type] ..5 Tips On How To Start Your Own Home Business Today


  11. Dave and Dawn Cook Says:

    You’ve done a great job here of giving excellent tips on how to find a great person or business to partner with in a joint venture. You are right that your value and impact can be greatly increased when you partner up with a compatible partner.

    That you could coordinate your post with you and Beth Allen’s new joint venture is very cool. Your slogan of “What could be better than one Beth?” is very cool as well.

    We’re sure you and Beth will have great success with your joint venture!

    Dave and Dawn
    Dave and Dawn Cook´s last [type] ..TSA Mastery Has Taken the Next Step!


    bethhewitt80 Reply:

    Hi Dave and Dawn,

    Thank you so much for your thoughts. Glad you liked the tag line.



  12. Patrick McIntosh Says:

    How Cool! Great JV with cool Beths. Love this post! So stoked for you both and happy to help in any way! Cheers!
    Patrick McIntosh´s last [type] ..Shredder Syndicate


    bethhewitt80 Reply:

    Hi Patrick,

    Thank you so much! We might have to call on your sometime. :)



  13. Brenda Says:

    Nothing ventured nothing gained. It is because of the major joint venture call TSA I had the privilege of connecting with both of you ladies. I wish you success and look forward to hearing more about your partnership


    bethhewitt80 Reply:

    Thank you Brenda for your kind words :)


  14. paola devescovi Says:

    Hey Beth and Beth,

    well done girls! I’m looking forward to seeing the products of your JV. I’m partnering with two other ladies and we are working on a project together. I’m very excited about it and I will certainly keep your suggestions in mind.

    To your prosperity

    paola devescovi´s last [type] ..Your Home- A Vehicle To Express Your Potential


  15. Shakira from kids firefighter costumes Says:

    This is such an important post.This is indeed a topic which has been ignored by many experts & professionals. You have done a great job by bringing this topic about the significance of joint venture into light. I hope quality discussions follow this post. Great job.
    Shakira @ kids firefighter costumes´s last [type] ..Plus Size Firefighter Costume


  16. Lorri Ratzlaff Says:

    Wow, the universe really does work in the ways you want and need it to!! Just last week a friend of mine suggested a JV and I didn’t really know what he meant, but have been thinking about it literally non-stop since then! Reading this could not come at a better time for me!! I really appreciate the thought you put into writing this, as it has helped me a lot!! There is definitely a lot to consider, but when something feels SO RIGHT sometimes you just have to leap as well!!

    Thank you again, and I really look forward to future posts from you!!

    Lorri Ratzlaff´s last [type] ..Paying it Forward …


    bethhewitt80 Reply:

    Hey Lorri,

    So glad my post has helped you out. Let me know how your JV goes and good luck :)



  17. Richard Goutal Says:

    Collaboration is one of my favorite things. You can see “co-labor” in the word. So a JV is an example of collaboration. So are content syndication tribes. In fact there are dozens and dozens of variations of working together. I have been interviewing various marketers to report back (in a coming eBook) real stories of real people. One surprising thing I hear over and over - “It has not only made me more profitable - it has made my life more fun!” Best wishes to the Beth-Beth team for more profit AND fun!


    bethhewitt80 Reply:

    Thank you Richard, I never thought of Collaboration being made up of co-labor Excellent!


  18. Tom Litchfield from tech news Says:

    I’ve watched many IMers pair up and accomplish things that probably would have taken much longer had each gone it alone. It’s like one of my old mentors used to tell me, the output of 2 people working together can easily exceed the output of 4 people working alone.

    Thanks for the great tips.
    Tom Litchfield@tech news´s last [type] ..Has The Move To IPv6 Been Lost


  19. Patricia from How To Lose Weight After Pregnancy Says:

    I appreciate your post a lot because you taught me how to choose a right partner for my business. I am excited to start our business. Thank you for paying attention to simple little things that most men neglect makes a few men rich. More power in this post!
    Patricia @ How To Lose Weight After Pregnancy´s last [type] ..The Facts About Quick Weight Loss Diets For Post Pregnancy Weight Loss


  20. Rosemary Says:

    Hi Beth,

    I really like this post, when one works as a team or join venture it is amazing how much more we all can achieve. I really agree with the tribe concept as I am a member of TSA and find it a great resource for ideas contacts and marketing. Also I meet many like minded people who have that extra focus for achieving goals. All the best Rosemary
    Rosemary´s last [type] ..Want to Keep Your Private Files and Folders safe from Snoopers.


    bethhewitt80 Reply:

    Hey Rosemary,

    I agree the TSA is a great place to meet likeminded people. I love the place that we are all working towards being successful in lots of different areas, so we all appreciate each others struggles and successes. It is great to work with and feed of every-bodies energies.

    So glad that you are a part of the TSA.

    Thanks for your comment,
    Beth :)


  21. Herbert Says:

    Hi Beth, your tips came right on time. We did a Joint Venture before but we failed on the first try. We are planning to give it a try again early next year.
    Herbert´s last [type] ..Designing a Perfect Website


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