IN REVIEW SUMMARY
In this chapter we explored alternate means by which an entrepreneur can grow his or her business. Entrepreneurs can also achieve growth through joint ventures. The effective use of joint ventures as a strategy for expansion requires the entrepreneur to carefully appraise the situation and the potential partner(s). First, the entrepreneur needs an accurate assessment of the other party to best manage the new entity in light of the ensuing relationship. Second, there needs to be symmetry between the two (or more) firms in terms of “chemistry” and the combination of their resources. Third, expectations of the results of the joint venture must be reasonable. Far too often, at least one of the partners that a joint venture will be the cure-all for other corporate problems. Expectations of a joint venture must be realistic. Finally the timing must be right