Follow up on Joint Ventures…

On other thought I just had on joint ventures…

Far better to start small…and build.

Why? Well, what you will find is that over time your partners in any given venture will either solidify behind you and it will be a good thing or it won’t. This is NOT based on the success of the project. It is based on the character of the individuals and their shared vision. Simple as that.

If you start small with a new partner, it is EASY to assess their character in a non threatening way. The trust level can be built to the point where it is strong enough to withstand even the toughest of circumstances. You get to a point where these folks are like family. They are battle tested friends.

While I don’t normally disclose the people that I do business with, i thought today would be a good time for an exception. And a case study…Ryan Ward, Wayne Long and I first met online via Real Estate Webmasters a while back. While I was at the RE/MAX International Convention, we met and decided to try our hand at building an online real estate investing forum.

Has it been perfect? NOPE. Far from it. Have we learned? Absolutely. As we have grown more used to how each other operates in this small, but growing, environment, we have become far more comfortable with each other to try other bigger things. While we haven’t done any of those bigger things, I think it is SAFE to say that if we did, we would do well with them.

Start small. Be patient. Build into bigger ideas. The relationships formed last much longer than one deal.