Truth be told the overwhelming majority of people I deal with are either one of the following or a combination of the following:
1. Incompetent- this makes it hard for me to succeed when working for or with them.
2. Criminal- they like to use and abuse others. Often will lie, cheat, steal, if in authority like to use that authority to cut others down rather than to effectively lead or manage. Obviously its hard to be successful around users.
3. Bad attitude- busy whining about how success is impossible or how Jesus will handle it rather than putting any effort into accomplishing a goal or speaking rationally.
Given these realities it is usually a waste of time working for someone else or with someone else.
The basic underlying need in a joint venture is a certain compatibility of character and base line level of competence. Once we have gathered trustworthy people with the right attitudes into our network, then we can quickly accomplish things together and the sky is the limit.
A Typical Joint Venture
Typically economy of scale means the more money you have, the more you make. It just makes sense to pool resources together, whether you are a millionaire pooling together with other millionaires to buy a multi-national corporation or if you are a couple of broke slobs trying to break into the real estate market, the principle is the same. I would organize the joint venture around some kind of corporation or limited partnership. On the small scale most of these can be organized under an LLC which will create liability protections. An LLC can be organized so that it is not taxed, and then the individual also taxed on income. Larger companies will be a standard corporation which will have double taxation, but also a lot of tax write offs. I'm not a legal expert, consult a lawyer.
But Joint Ventures can also involve things like finding a room mate or purchasing food in bulk and then splitting among a group of people. There are endless ways to work together for economic and other benefits.
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