Business Mindset 33
Understanding 40 – 20 rule of Partnership based on your age
40-40 20-20 Partnerships will fail. Understand Right strategy of Partnerships in this platform.
Please understand, 40-40 and 20-20 is going to fail most likely. It is not going to work. I don’t encourage these partnerships. The only viable partnership I see is 20-40 where one partner is 20 years old and other is 40 years old.
The reason 40-40 fail because they are max out already. They have sold their hours already. 20-20 fail due to lack of patience and capital.
Despite of all legal bindings, contracts being signed, trademark ownership in place, yet partners can ditch each others if they want. This is the reason I don’t encourage partnerships solely based on papers. Partners need to have solid trust relationship with each other. Without rock solid emotional connection, matching mental frequency and without solid trust on each other, no partnership is going to work. I have usually 1% disputes coming out of 100 partnerships.
So if your partner is rigid, ask too many question, want to do a lot of thinking before getting back to you, not flexible enough, you must immediately terminate this partnership. Trust me, it is not going to work. You need partnership where 2 partners trust each other enough to share the information quick and make decisions quickly rather than doing a lot of thinking and wasting time of the other partner.