Joint Venture Marketing Mistakes

While I had some JV success at the beginning, I also had several failures. I didn’t know why until I went to JVology Live.

There, it became apparent what went wrong. There were several things.

1. I was giving too much, and I wound up taking painful losses on four occasions.

2. I trusted too much, too fast.

3. I didn’t have good boundaries

4. I didn’t have good agreements in place.

Remedies?

I realized I needed to start small and, after the JV partner proved himself, to scale up from there.

I needed better agreements (one caveat — if someone wants to screw you, you can have the best agreements in the world and it won’t help).

Do your due diligence. Make sure your partner is the real deal. I didn’t check closely enough in several cases and got stung to the tune of several thousands of dollars. My mistakes also damaged my relationships. Fortunately, I was able to repair the damage.