d1g1nomad
Junior Member
- May 8, 2024
- 108
- 59
Hey!
one of reasons I registered on BHW was seeing the JV to have its own category. I truly believe this is the best way to grow your business. It's a fast fwd. for a startup since you get access to knowledge, markets, its shared risk, you get a big competitive edge and many more! It's what the corporations do when entering new markets, but usually they just buy out a competitor rather that fkn around with joint-ventures
I'm saying fkn around, since this is not a plug&play things, and in theory everything sounds perfect. But real business is hard and in general going into a joint-venture involves risk: exposing IP/trade secrets, building dependancy, loosing reputation, spending money or wasting time. For me personally my most valuable resource is time.
I'm wondering, how many of the JV on BHW are sucessfull? Successfull in terms of:
- revenue growth
- cost savings (ex. for marketing)
- customer base growth
- skills transfer (learning),
Share please your sucess stories, to inspire others to go down this road in 2025! How did you start, did you go all-in, or did your JV grow slowly? How much time did you invest in it? How long did it take to get fully operative? What were the biggest challenges?
And the other side of the coin - what not to do, bad experiences you had?
- what does raise a red flag?
- what are the biggest mistakes you made?
- what would you do different if going into a JV again?
Maybe a "template" for a joint venture could be useful, things to be agreed upon before starting. Many things come to my mind but I'll leave it up to community to drive this conversation.
P.S.: I'm about to open some JVs in near future, going to share our experiences here as well.
one of reasons I registered on BHW was seeing the JV to have its own category. I truly believe this is the best way to grow your business. It's a fast fwd. for a startup since you get access to knowledge, markets, its shared risk, you get a big competitive edge and many more! It's what the corporations do when entering new markets, but usually they just buy out a competitor rather that fkn around with joint-ventures
I'm saying fkn around, since this is not a plug&play things, and in theory everything sounds perfect. But real business is hard and in general going into a joint-venture involves risk: exposing IP/trade secrets, building dependancy, loosing reputation, spending money or wasting time. For me personally my most valuable resource is time.
I'm wondering, how many of the JV on BHW are sucessfull? Successfull in terms of:
- revenue growth
- cost savings (ex. for marketing)
- customer base growth
- skills transfer (learning),
Share please your sucess stories, to inspire others to go down this road in 2025!
How did you start, did you go all-in, or did your JV grow slowly? How much time did you invest in it? How long did it take to get fully operative? What were the biggest challenges?And the other side of the coin - what not to do, bad experiences you had?
- what does raise a red flag?
- what are the biggest mistakes you made?
- what would you do different if going into a JV again?
Maybe a "template" for a joint venture could be useful, things to be agreed upon before starting. Many things come to my mind but I'll leave it up to community to drive this conversation.
P.S.: I'm about to open some JVs in near future, going to share our experiences here as well.
