Tuesday, December 14, 2010

Why are entreprenenurs scared of joint ventures?

When 2 companies which are both start-ups need something from one another then surely a joint venture is the best way to move forward. I was approached by a new start up that basically wants to let the public have access to (any sports code) sports results on a live weekly basis from schools, and the results and story of each game will be posted on the web-page by school journos. A great idea. Another company has a great web page that encourages the public to write stories that are positive good news stories, trains journos and then tries to raise funds and mobilise good for good causes. They are both section 21 companies. Why would these companies not use another to get ahead? The sports idea needs the training the good news project can offer as well as access to a great web page. The good news project needs major regular traffic that the sports project can offer. The answer is both about egos ( its my concept and I'm not comfortable sharing it), and flexibility ( I cant/wont change my business concept). So they will probably go their own way and maybe even become competitors. What I have learnt about being an entrepreneur is that you need to place your own ego to one side, and you defintely need to be flexible. Sometimes a small change or adaption is the thing that can take your business to the next level. In this case they need one another and it would be a travesty if they didnt get it together. Tomorrow I will be meeting with the winners of all the stick fighting tournaments and we will be organising public events in the city and the waterfront area and Camps bay targeting tourists over the holiday season. The last tournament of the year will be at Masiphumelele Site 5 Fishhoek and you are all welcome to come and attend. If there is anyone who wants to buy sticks for gifts this christams give me a call.