Lori discusses the benefits and considerations of joint venture (JV) partnerships in small businesses. She emphasizes the importance of clear roles, defining how expenses and profits will be divided, and aligning goals and objectives.
Lori advises regular communication, transparency, and having a dispute resolution plan in place. She highlights the advantages of sharing expertise and leveraging audiences for business growth. Lori also mentions strategies such as bundling products, geographical expansion, joint events, contests, and collaborative content creation.
She encourages business owners to consider potential partners who can contribute to the growth of their businesses.