What can a small start up do to maximize the use of resources which are often in short supply for most start ups?
“Think minimize and control verses maximize and own” is a very powerful framework that I learned at Babson.- KMM
One way to “minimize and control” is through a “joint venture agreement” with a company or individual that has the thing you would “own” if you could, and perhaps one day should own and will own, but let’s talk about now!
Early in the venture you’re looking for validation of the concept, and traction .
A joint venture might allow you to get what you need, without building it or owning yourself; which means you can get your MVP in the hands of paying customers faster.
A successful MVP is an excellent way to validate the need for the resources of others.
You’re going to want to know a good lawyer and perhaps an expert in negotiating JV’s particularly if it’s a high potential venture or if it’s cross border and might benefit from international experience accessing local information.
It’s important to understand the fine points of joint venturing but generally speaking, when you realize businesses want what you want... the chance to make a boatload for their shareholders in new and exciting ways, then you’ll find that lots of smaller but well established companies are open to new ideas.
Explore the Joint Venture,
it’s an oldie,
but a goodie .
BeachLogic
