A guide to creating a joint venture consortium |
Ongoing supportAs we have said, once a new chairman has taken over they then can delegate further tasks and between them they run the consortium and all parts of the project. From that point on you are not involved unless you have agreed to provide some additional support or training or are asked to become involved. What you must never do is to become involved in any conflict or do anything that could cause friction within the group. Ongoing support if required should be provided by a service provider or consultant. In many cases the best person to do this is not the person who set up the consortium, quite simply because it was your dream or baby, You have nurtured it and will have developed a firm idea as to the direction it should go in. Once the consortium members have it, it is very similar to a business takeover, new management is in place who may have some different ideas , and may over time move in a slightly different way than you envisaged. Many of your ideas will not be implemented or not in the way that you thought they would. This is not necessarily detrimental. In many cases it can be highly beneficial, in that they get to own their own decisions, and see the rewards developing from their involvement. The other problem the packager may have is that a small number of the consortium members will think as you gave the ideas life, you are a god, and your ideas should be followed while others will feel you are interfering in the running of the consortium. The very worst situation would be where a number of members of the syndicate constantly called you and asked you to support whatever position they favoured or to help them with specific aspects. This would become a major problem for you and for the consortium. So what do you do, well we suggest that all contact with you once you have handed it over, should be through the chairman of the syndicate, who can call on you as a consultant when he feels it is justified at an agreed fee. It is then down to the consortium and its chairman to decide if this is necessary and as a fee is payable to only do so when it is essential. The effect of this cost to them can be softened by taking barter units, and including some barter units in the package either initially or as it grows to allow the use of your help or other service providers. If having read this you have decided that becoming a packager is not for you, and particularly if you instead wish to develop the idea as a business yourself then take a look at Business Club International, and becoming a service provider, as this may well give you many of the advantages of belonging to both the New Atlantis family and bartering.
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