Questions You Want to Ask Yourself

Here’s a few questions Robin J. Elliott recommends we ask ourselves and standards by which we should measure whether or not to accept, institute or continue a Joint Venture.

1Is this the best use of my time and resources, or do I have a better alternative? (If another alternative is better, cut bait.)

2Am I spending my own time, money and resources, or am I using other peoples' time, money and resources? (We should use other peoples' resources.)

3Am I acting as a salesperson / hired gun? (If so, walk away immediately.)

4Is this deal as good as I thought it would be? Is the other party doing what he or she said they would? Am I still comfortable with this, or should I drop it?

5Is this win/win and does every party benefit, or is someone being taken advantage of?

6Are my partners ethical, honest and professional?

7How can I add a back end, further leverage this situation, increase profits and/or distribution, or sell the deal?

8Where can I learn more about Joint Ventures?

9How can I meet better Joint Venture partners and find better deals? (My NetWORK determines my NetWORTH).

10Are my resources being optimized? Do I have underutilized resources?

11Is this decision a compromise of my values and beliefs?

12Is this choice, action, thought or activity taking me towards, or away from my goals?

JV Evaluation Form

Use this downloadable Joint Venture Evaluation Form to help you organize the details of your deals and better judge the balance of input versus compensation.

This file contains 2 PDF's:

1. The Advanced Definiton of a Joint Venture PDF
2. The Joint Venture Evaluation Form