The Wealth Algorithm (6) – Partnerships


Since the beginning of this series, we’ve been on a journey. No hurry, no rush. It’s a journey of a lifetime. Most of us have spent their days under pressure, trying to do several things concurrently. It’s different here. When you come to this blog, I want you to set everything else aside. Read, focus, apply, enjoy the dream of eventually reaching abundance. Through these articles, your reading and application, together, we shall make that dream your reality!

Today, I’m going to talk about the second option of financing that dream, which is partnerships.

I had written an article titled “Investment Partnership (TM)“. It would be helpful to go back and have a look at it before you continue reading.

According to the online Merriam-Webster Dictionary (TM), a partnership is “a relationship resembling a legal partnership and usually involving close cooperation between parties having specified and joint rights and responsibilities”

The keywords in that definition are: Relationship, legal, cooperation, parties, specified rights and responsibilities.

How does that relate to our discussion?

Your intention is to reach a certain sum of money by a certain date. In order to do that, you need a capital to grow. Obtaining that capital requires some sort of financing. An investment partnership (TM), is the option we decided to pursue to secure that financing.

As I mentioned in the article referred to above, this partnership takes place between two parties: One party provides the capital, the second party provides the time, energy and expertise to grow that capital, over a specified period of time. The two partners are equal. They share profit and loss on a 50/50 basis.

The partnership agreement “specifies” the details of the “relationship”: The legal aspects, the type of cooperation, the involved parties, and the rights and responsibilities of each party. It also specifies the capital, the timeframe, and the way any outcome shall be shared between the parties.

From your perspective, here is what you need to do:

  1. Prepare a convincing business plan, that outlines your strategy of how you intend to grow the capital
  2. Find an interested party, who has that capital, and who is willing to consider a partnership with you
  3. Present your plan, and hopefully, win the approval of your potential partner
  4. Work with your new partner on the partnership agreement
  5. Get the funds and start working!

In the next article, I’ll shed more light on each of the above steps. Please spend some time on this post, and let me know if you have any questions or comments.

The Wealth Maker



The Wealth Algorithm (4)


Please read the last four articles, if you haven’t already.

We now have the start and end points of our journey defined. That is a clear, believable intention, and the current networth.

What’s left is the process to go from the start line, to the end point.

Why is it important to define these two points? The answer is very simple: Imagine going online to book a plane ticket. What are the first two questions you have to answer? Leaving from? And going to? Right? You can’t make a reservation without knowing your source and destination points.

Same here. Actually, this is the first lesson in Success 101!

They say: To make money you’ve got to have money. Is that always true? Can you start your financial wealth building journey with zero-out-of-pocket investment?

Well, you could, but it would take much longer, which means you must start off at a much younger age, say at 10 years old!

Are you 10 years old now? I guess not. Then let’s focus on the other route, which is financing.

How can you finance your dream? A big question, eh..?

Unfortunately, it’s not enough, most of the time, to have only the start and end points well-defined, in order to obtain the financing you need. A third critical component is required, and that is your plan. In professional terms: Your business plan.

So let’s talk about that in the next post.

Between now and then, write your intention statement on one side of an empty page, and your networth on the opposite side. Read them to yourself, then start exploring ways to move from the left to the right of the page…

All the best,

The Wealth Maker