Home Business The seven deadly sins of joint ventures

The seven deadly sins of joint ventures


Joint ventures can be tremendously successful. But certain sins during the planning phases can be deadly:

• Gluttony – Devouring the initial capital, leaving no resources for critical investments down the road.

• Wrath – Failure to reach a compromise due to both parties’ desire for control.

• Lust – Desiring another partner’s assets while undermining the inherent trust in the agreement.

• Pride – Valuing one company’s culture and methods over the other.

• Greed – Unrealistic expectations when it comes to profit distributions.

• Envy – Failure to set reasonable boundaries to mitigate competitive interests between companies.

• Sloth – Waiting around during the planning phase before devising an effective exit strategy.

Patricia E. Farrell, Meyer, Unkovic & Scott

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