There’s no shortage of remarkable ideas, what’s missing is the will to execute them.” – Seth Godin

Writer and former dotcom businessman, Godin is saying that talk is cheap, but in a nicer way. Yes, ideas are a dime a dozen, but the real meat on those bones comes from trying to realize them. It is only then that the problems show up and the real work of resolving them starts.



A joint venture is a common way of combining the resources and expertise of two otherwise unrelated companies. There are many benefits to this type of partnership, but it is not without risks - arrangements of this sort can be highly complex.

Advantages of joint venture
One of the most important joint venture advantages is that it can help your business grow faster, increase productivity and generate greater profits. Other benefits of joint ventures include:

access to new markets and distribution networks
increased capacity
sharing of risks and costs (ie liability) with a partner
access to new knowledge and expertise, including specialised staff
access to greater resources, for example, technology and finance
Joint ventures often enable growth without having to borrow funds or look for outside investors. You may be able to:

use your joint venture partner's customer database to market your product
offer your partner's services and products to your existing customers
join forces in purchasing, research and development
Another benefit of a joint venture is its flexibility. For example, a joint venture can have a limited lifespan and only cover part of what you do, thus limiting the commitment for both parties and the business' exposure.

Joint ventures are especially popular with businesses operating in different countries, eg within the transport and travel industries. Read about the different types of joint venture.

Disadvantages of joint venture
Joint ventures can pose significant risks relating to liabilities and the potential for conflicts and disputes between partners. Problems are likely to arise if:

the objectives of the venture are unclear
the communication between partners is not great
the partners expect different things from the joint venture
the level of expertise and investment isn't equally matched
the work and resources aren't distributed equally
the different cultures and management styles pose barriers to co-operation
the leadership and support is not there in the early stages
the venture's contractual limitations pose a risk to a partner's core business operations
Partnering with another business can be complex. It takes time and effort to build the right business relationship and, even then, it can be difficult to completely avoid all the issues.

Success depends on good communication, a carefully planned joint venture relationship and a clear joint venture agreement.

Culled from Investopedia

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