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About two years ago, I met Doug from Upstart Inc., a small company with about $5 million in sales and innovative but inefficient sales and distribution. In contrast, my company had $300 million in sales with excellent sales and distribution but poor technology. Recognizing the synergies between us, we quickly established a Joint Marketing Agreement (JMA) over drinks and signed a Memorandum of Understanding (MOU) that served us well for the first six months. Eventually, we formalized it with a contract, avoiding legal delays as we were experiencing strong momentum. We invested around $1 million in distribution, marketing, and branding, leading to significant growth.
