- 1). Review your assets or capabilities to determine what you can offer in a joint venture proposal. For the joint venture to work each partner must have something tangible to offer. For example, you may own a vacant lot in a key commercial area but lack the financial resources or expertise to develop the land. Or you may own a small community newspaper and want to open a website with partners who have Internet experience.
- 2). Decide on a joint venture initiative and network to find partners. Tap into the business community by attending chamber of commerce meetings and other business receptions and gatherings. Meet with a loan officer at your bank to share your idea for a joint venture. Ask the banker to pass along the information to others who might become partners. Also network through social and professional online networks.
- 3). Propose the joint venture through a series of conversations and negotiating sessions. Identify a common interest in a project, and common financial goals and objectives for the project. Also discuss ownership percentages, shared management responsibilities, a specific duration for the joint venture agreement and formulas for sharing profits and losses.
- 4). Place the proposal in writing and distribute to the potential partners in the joint venture. Formalize the agreement through attorneys to make the joint venture official.
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