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In China, for example, where Alliance Boots formed a joint venture five years ago with Guangzhou Pharmaceuticals Corp.
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As an entrepreneur, you need to paint a realistic picture of how to fund the venture, where and how the funds will be used, how you will ensure enough cash flow, and also your projected financial position of the venture over the first five years of its life.
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"If you're on more than 10 boards, there's just no way that you're good at all of them, " says Randall Lucas, who spent five years at venture firm Voyager Capital before joining Seattle start-up Revenue Loan LLC this year.
WSJ: Too Many Boards Means Little Help, Start-Ups Say