Myles of Investments

Read about my successes and failures. Learn from my experiences and gain insight without losing any cash!!!

Lesson: Catching a Falling Knife
Lesson: Currency Exchange
Lesson: Mutual Fund
Lesson: Paid to Wait
Lesson: Pricing in a Downturn

This is where you’ll find find my Blog. I will comment on the latest news relating to investing, real estate, and the financial markets.

Build a Team

Synergy is what you get when you build a team that is highly effective and that can compliment your skills as an investor. Synergy means that the total efforts the group can achieve are much greater than that of each individual contributor. You can’t do it all by yourself, and expect the rapid results and quality output of a team.

Building a team is a critical part of success, and your team should include those who are different from you, in both their skills and knowledge. You don’t want to surround yourself with clones of you, because there is a high probability that they will be lacking in the same knowledge and aptitudes that you are. Take in people who think differently, are able to sell anything, are great negotiators, are excellent managers, are innovators, bean counters, strategists and motivators. Why would they be on a team that you are part of? They need the same thing that you do! That is, to compliment their skills with yours. People also want to be a part of action, just think – how many people you meet at parties or talk to, that are interested in utilizing your skills and have something to offer in return, and then, think about the number of people who actually follow through with it. Action is important because nothing can happen without it! People will gravitate to be a part of something that is happening, so come up with a dream, and help build a team that will take on the world.

How do you start to build a team? At the next event you go to, take some business cards and circulate the room and introduce yourself to people you have never met. Learn about them and what they are good at or what they are passionate about. Everyone has a skill, the key is to find it. No matter what their skill is, exchange cards and excuse yourself, write down some specifics on the back of the business card, including a general description of the person, their skills and some personal info such as their children’s names or their interests. If they didn’t have a card, grab a sheet of paper and write out some points. When you get home file the cards in a box. And in the future, when you need a service, you can flip through your file to find a match. Since you have a personal connection, it’s an easier call to make, and you have some info to talk to the person about to jog their memory, while you build a team in a time of need.

How do you keep a team? Keep your team busy even when you don’t have tasks for them yourself. Refer your team members. They will be grateful, and the reference will strengthen the relationship you build. Your team needs to feel you are a resource for them, and by being their salesperson, you are working for them as well. And now, when you have an important job, your team will not want to let you down!

Build a team of people who have varying skills, and try and work for them every chance you get, you will be rewarded with a team who is committed to you!