No Playbook: How a Sports Tech Partnership Turned into a Fumble

We thought we had scored the winning touchdown—a joint venture in sports tech with a partner who seemed like they were running the same play as us. The deal looked like a game-changer, especially with a $200,000 "signing bonus" on the table. It felt like we were finally in the big leagues, ready to take our startup to the Super Bowl of success. So, we went all in—time, energy, and trust—without even drawing up a playbook. Yep, no contracts, no paperwork, nothing. Just pure faith, like handing off the ball and hoping no one fumbles.

For over a year, we kept running plays, convinced we’d eventually make it to the end zone. But then, the refs (aka reality) threw a flag. Turns out, we weren’t even playing the same game. The other side wanted 90% of the team, leaving us with just 10%. Basically, they wanted to be Tom Brady, and we were supposed to be the water boys. Not exactly the dream team we’d signed up for. Suddenly, the scoreboard started looking a lot less in our favor.

In the process, we almost benched our own company. We lost team members who’d been with us since the first huddle. Our energy—once full of championship spirit—was totally deflated (yes, like that football you’re thinking about). For the first time, we felt like calling it quits. With the deal falling apart and our resources wiped out, we had no choice but to hit pause and regroup.

Here’s what I learned, plain and simple: a joint venture is a whole different ball game. It’s not like picking captains for a backyard game. If you don’t have clear terms and a solid game plan, trust alone won’t win the game—it’ll leave you on the sidelines. Now, when I approach partnerships, I make sure we’ve got everything on paper, like a good playbook, because no one wants to lose the game before it even starts.

~ Anonymous Founder