You Can’t Do a Good Deal… With Bad Partners

One of the most important lessons that Rich Dad teaches is the importance of partners. It’s a lesson I often think of. Simply put, if you have good partners, gaining financial freedom is easier. If you have bad partners, gaining financial freedom is harder… sometimes painful… often very costly.

When I coach someone who is struggling financially, it’s often because they too have bad partners they are involved with. For example, the person who is struggling could be married to someone who is lazy, does not study, spends too much money on food, alcohol, sports, hobbies, or clothes. Or the person could be surrounded by friends who’ve got bad habits, or a negative attitude about money, even to the point of criticizing the person’s desire to improve themselves or their financial position. So a bad partner does not necessarily have to be a business partner.

One of the reasons I’ve achieved financial freedom – successfully – is simply because I’ve developed the ability to identify a bad partner. ¬†When I’ve had good partners, the deals appear and things go well. We may have problems, but I don’t have to know all the answers if I have good and smart partners.

I’ve also experienced bad partners. They were not bad people, just bad partners for me. And truthfully some thought I would have been a bad partner… and in those cases I may have been. Whenever my partners or team members are not on the same page, play by the same set of rules, same ethics or morals, the business or investment will be weak and profits diminish, expenses go up, and stupid mistakes are made.

Leave a Reply