Joint ventures aren’t always just about money. They can also be about having fun, growing a different type of project or business and learning a new process and skillset.
WELCOME TO SEASON 4 | EPISODE 39
The WHY AND HOW OF JOINT VENTURES
WHAT DO YOU NEED TO KNOW ABOUT JOINT VENTURES?
Today we’re back with Rachel Collard talking all about joint ventures (JVs).
What do you need to know if you’ve got a good project, and you want to engage in a JV?
IN THIS PODCAST WE ARE TALKING ABOUT
We explore the reasons you might want to enter a JV, and what to do before you do so.
Often JVs are not just about the money. They can also be about having fun, growing a different type of project or business or learning a new process and skillset.
Every JV is set up differently. Sometimes you’re investing time, sometimes it’s money or borrowing capacity. Sometimes you might just find the project!
The important thing is the synergy of the participants and doing your due diligence.
We take you through eight points you need to consider before entering into a JV to alleviate stress:
- Do your due diligence
- Clarify scope and designate roles
- Determine the structure
- Ensure dispute resolution and exit strategy parameters
- Understand personalities and red flags
- Seek expert advice surrounding contracts
- Define how you will communicate
- Reporting – how often and when?
There is a lot to learn from JVs – we hope this helps if you’re thinking of jumping into one.
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LINKS MENTIONED IN THIS EPISODE:
BuildHer8 Rathmines Project: https://www.buildhercollective.com.au/projects-collaborations/
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