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If you are considering a joint venture with another company, you’re actually thinking WAY beyond yourself and your own goals.  You are thinking BIG.  Strength in numbers, as they say.  Think about it… this goes beyond the whole “I’ll scratch your back if you’ll scratch mine” mentality.  This is mutual collaboration.  This is it. This is the real deal. There are many strong reasons behind forming a joint venture, even if your business already has great growth potential and innovative ideas.  Think about it!   Why not if you can expand your business, move into new markets, perhaps even concentrate on overseas ventures?  It is worth undertaking if you are able to grow your business, and the joint venture allows you access to more markets and gives you increased technical knowledge and resources.  Before you jump in with what seems to be a perfect company to join forces with, take time to consider these questions: 1)      Are the objectives of the venture clear?  Make sure that there is constant communication with all parties involved and that nothing is assumed. 2)      Are the objectives the same?  This is important… you need to be working towards the same common goals. 3)      Are the management styles the same?  Different cultures and backgrounds could result in poor outcomes.   Be careful with this.  Discuss management techniques in-depth, and make sure that similarities outweigh the differences. 4)      Do both parties bring the same balance of assets, expertise and investment to the relationship?  If it is too imbalanced there will likely be problems. 5)      Is there an agreement on the type and amount of leadership which will...
Trapped In A Time Warp?   12 Signs that You Are Stuck & Will Lose Your Butt to the Competition

Trapped In A Time Warp? 12 Signs that You Are Stuck & Will Lose Your Butt to the Competition

Once upon a time we all lived in small towns, or at least tight knit communities and neighborhoods.  If you needed your hair cut you’d go to Hank’s Barber Shop, you bought your sandwiches from Sidoti’s Deli, and the pharmacy on the corner didn’t belong to Walgreens.  Businesses didn’t have to market, network, advertise, tweet or blog about their services to get and keep their customers.  They offered their goods and services, and people came for them.  It’s how business was done. That was then.  Welcome to the modern world!   If you think you can rely on your business surviving the old fashioned way, where people buy from you because they always have, stop and think again!  Even if you’re located in a sparsely populated burg, the town folk now have the internet, Iphones and all kinds of other techy gadgets… they can find it cheaper, better and quicker on Amazon if you don’t get your head in the game and convince them they want their money flowing in your direction. Are you going to just trust fate?   You basically have two choices:  To be passive or to be proactive.   Obviously choosing to do nothing is about as passive as you can get… might as well throw in the towel now and save yourself the hassle and grief.  If you are immobile and stuck, you are in serious trouble.  The protective bubble you are wrapped in may feel comfy, but this cloak is indeed deceiving.  You are trapped in a time warp and will eventually lose your butt to the competition.  Make sure these obvious issues don’t apply to...

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