I just finished reading an article in the January issue of Black Enterprise magazine about 50 Cent. The article talks about the deals that 50 made by forming different partnerships. I think one of the biggest deals he is recognized for is his deal with Vitamin Water where he made $100 million dollars. As small businesses we can take a page out of this mans book. Most entrepreneurs have so many ideas and we try to do them all at once, but what I gathered from the article is that you can do them all, but you need a system, they need to make sense, they need to compliment your brand and you need someone who knows how to help you go about finding the right partners to form these joint ventures with. In 50 Cent case he had Chris Lighty who is the founder of Violator Records. The other thing I gathered from this article is that if you are looking to form joint ventures and create partnerships, you have to ask yourself what value are you bringing to the table for your partner. 50 already had success in the music industry, so he was bringing that to the table. If the venture creates value for both parties involved, then it's a win win for all. Last but not least all of these ventures have allowed 50 to create multiple streams of income. If you get a chance check out the article. It was a very good one.
Until Next Time
Make It A Great Day!