Building Your Wealth Team

Combining Your Strengths With Others' For Truly Exponential Results

post it note planning Image by airfocus
rowing team Image by Josh Calabrese
puzzle pieces Image by Vardan Papikyan
 

Building Your Wealth Team

Growing up as a kid in the 80's there were so many memorable shows - Airwolf, Knight Rider, MacGuyver and of course the A-Team.

 

The last one was memorable for the fact that it was made of a 'unique' team - four former military guys - completely different from each other - overcoming the odds week in week out.

Finding your own team is a special thing. You are often bringing together a bunch of regular people with natural working abilities or skillsets and together something special happens.

 

In the movie ‘Moneyball’, with Brad Pitt (Billy Beane) and Jonah Hill (Peter Brand), a baseball team hires a coach that with his assistant, begins implementing radical ideas to get the team winning against the big teams.

 

Peter, the assistant, has come up with a formulaic approach that effectively utilises the skills of average players and balances their floors with their teammates. They go on to win the World Series all by combining the best of a group of average players, which balanced the worst of the same group.

 

They became the most underestimated team in baseball history. A group of players that had been rejected from all the other big teams, became a great team together. They did this with balance.

 

Dream Team Vs Lone Wolf

There is a false sense of safety and joy in loneliness. I’ve been that lone wolf and the worst thing that can happen to you is that you become successful. If you do, you will further isolate yourself from something special.

I love working alone, but there are times when coming together to plan, coordinate, stay accountable, find new ideas, plan through a crises is better to do as a team.

 

We all use teams, even if they’re remote, but the team I’m suggesting is something more special. It’s a concept derived from a collection of knowledge and I’ve added the parts I believed were missing from the ‘real life factor’.

 

Having a team ‘team’ will mean you don’t have to walk the path of an entrepreneur alone, and it does get lonely. 

 

This is not a team for you to have subordinates, or people you can tell what to do. No, this is an equal playing field. One that makes you way more effective, shortens the time to success and means you have someone to celebrate with when you get there.

Your team will be many things to you:

  • A sounding board for your own business

  • A place to collaborate on new ideas 

  • People to be accountable to

  • A place to learn quality information from each other

  • Utilise each others networks

  • Incubate business early on 

  • A place to build a business together, if you are all ready to do that

 

There will most likely be fiery moments, that’s normal! Take a breath and continue to move forward.

 

Find People On The Same Page

In order to make sure you are all on the same page from the start I would recommend having or doing the following from the start - and hold firm with its continuity:

  • Use the test for people before they join. There’s no point having four+ people with the same skillset

  • Treat the team as a ‘board’ of trusted partners rather than a type of networking group

  • Agree to a set of commitments from the start - ensure its signed once a new joiner starts:

    • Agree on choosing to become wealthy a

    • Agree to help others on the team to do the same

    • Help others to achieve their visions within your teams parameters

    • Build with an ethical win/win approach

    • Reward your team with shares and gifts for helpful support on your journey

      • This is done in regards to your own business. Businesses created by the team receive equally split shares for those participating.

  • Agree to a group manifesto (or use a variant of the one on this site)

  • Be careful who you allow in. Make sure at least one of the team already knows them. If they like them but don’t know them, then take them camping or do an activity where you can see their response under pressure. 

 

That last one is also good advice for when you are thinking of marrying someone!

 

Now Is The Time To Build...

Using the table below, write the names beneath each work ‘type’ that you are thinking of adding to your dream team. Include friends, networkers, colleagues, even family - but focus on the right person rather than the availability of a person.

 

Place each name in the column on see here that corresponds to their predominant work style after your team members have completed the basic test on the ‘Your Personality Type’ page. There might be two dominant stand out ‘types’ for a person. In that case, list the person in both columns.

Creatives
Strategists
Balancer
Organiser
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________
_________________________

It’s important to try and fill any work ‘types’ that are missing from your team. The team will have a lot of ideas but no action if there are only Creatives and Strategists. 

 

Have you ever been on a team where everyone is excited about new ideas and starts working on them, but nothing happens? 

 

In order for these teams to devise a viable strategy, they require the Balancers to slow them down. They also need Organisers to carry out the plan effectively.

 

You've Created An Amazing Team... Now What?

OK, your team is formed, now what? Well it’s time to start building.

 

Each person will be using their skills in a way that maximises their natural work ability. You’ll be passing on the work you are weaker at and allowing the others to take them on according to their abilities.

 

Everyone will carry their weight, however the core items can be managed by those who are dominant in that skillset.

 

The ‘wrong’ kind of work is a thing of the past. Everyone outsources their weak areas to others who enjoy it. This is the pinnacle of a win-win scenario. Because we dislike what slows us down, this can triple the amount of productive work that can get done. in both your business and your collaborations. 

 

Staying Productive In Your Team

The 'snowball effect' of seeing your team operate productively in a unified way may take time - don't let this worry you.

 

You may all be friends from before, former colleagues, neighbors or anyone else, forming something valuable takes some time. You are seeing each other in a new light.

The following steps can dramatically increase your teams productivity:

  1. Make a list of all team members' daily essential tasks.

  2. Place a C, S, B or O  next to each task to identify it as a Creative, Strategist, Balancer, or Organiser. 

  3. Trade all labelled tasks with the appropriate person that matches the label you've given on the list of tasks.

  4. Keep trading these tasks until the responsibilities of your job match your personal profile.

The sooner you overcome the awkwardness of the initial meeting and embrace your natural work ability, then the sooner you will see success together.

 

Collaborations And Next Steps

On the Team Meeting page you will be able to see an outline of how your meeting could go. Give it time, but commit to moving forward for at least four months. 

 

If the chemistry is not there, consider replacements, or even starting again. The value of this team once achieved will revolutionise your approach to business building and entrepreneurship.

Jim Johnston

Jim Johnston is an award winning entrepreneur. With a business banking background in London originally, he went on to create a national B2B start up in the UK, for on-demand property services. A blogger, copywriter and all round creative, his vision is simple - to see people experience wealth in every key area of there lives. True wealth!

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