How can one succeed with Joint venture business

[eldavis]

It would work by having a good business plan. Every business no matter the type or structure of the business needs a good business plan, having a good business relationship with your partner is also a good way to achieve success.

 

[Springtime]

Partners have a common goal, be honest with each other and trust each other.

 

[cherry123]

Partners have a common goal, be honest with each other and trust each other.

This is how the partner should be . Each trusting and relying on one another which will be great

 

[junrose123]

I believe it would be tough to enter into joint venture business because there are some time that both partners don't agree with each other especially if they are facing difficult situation in business.

 

[cherry123]

I believe it would be tough to enter into joint venture business because there are some time that both partners don't agree with each other especially if they are facing difficult situation in business.

This is why they need to come to an agreement before starting out. That way you would be able to compromise with your partner at all.

 

[gammarays]

This is why they need to come to an agreement before starting out. That way you would be able to compromise with your partner at all.

Yes a legal binding agreement is what keeps partners in check. No matter how trustworthy your partner is, is best to have an agreement to prevent bad happenings.