JOINT VENTURE a hidden wealth.

By defination, a joint venture is simply when two individuals or businesses partner up to create more of what they do not have or to use each others strengths and weaknesses and balance that. The point is it is a partnership. It is people coming together for the common goal and 99 times out of 100 of the common goal is to make more money.
Let us be honest about that, that is where a lot of it comes, it is for wealth building and we cannot be all things at all times. So that is where joint ventures come in. You do not have all the money you need to run your business, you do not have all the credibility in the world to release a new product and take the market by storm. You do not have all the expertise that you need to create a product or to market it and you do not have all the time in the world to wear all these hats. So why not share the information that you know, why not share the money that you have, why not share the expertise you have with somebody else in order for you both to grow and grow and grow to win.
So in a simpler definition, it is a partnership between two or more business or individuals coming together to create a win/win situation for everyone involved.
There are four pillars of Joint Venture
Think of them as a Roman column with OPC written on it, OPM, OPT, and OPE.
OPT is other people's property. OP is always other people and then you add another letter to it. So the C is other people's credibility. The M is other people's money. The T is other people's time. The E is other people's expertise.
You are looking at four pillars and each one of those, either by themselves or in a combination can help you get more of what you want. So you have to find out how and what you need from someone else in a joint venture. Some of the more advanced pillars are other people's money but what most people are familiar with is other people's credibility. This is the classic example of joint venture endorsement marketing and that is where you have a product to serve that you want to sell and you are approaching joint venture partners in order to endorse your product to their market.
There is so much to learn about Joint Ventures and if approached correctly then they have the potential of making a huge amount of money for the parties involved.