At the close of last week’s article I stressed the importance of having to step out of your comfort zone and try new things. I’m sure there were plenty of shudders when I mentioned having to get out there and market yourself and your Cash Machine. It’s true that at first you may have to wear many hats to get things started on the road to success but this doesn’t mean that you shouldn’t be thinking about and shaping your Wealth Team.
A Wealth Team is essential for creating lasting success for your Cash Machine. The members that comprise your team are people that pick up where you leave off, whether it’s in skill, time, or effort. For some of you, family members and friends can easily be recruited. For others, you have to start networking with people within your community and even online.
If your plan is to start small and do much of the work on your own, you will need at least some help. The term “Self Made Millionaire” is a bit misleading. Millionaires will tell you they have a whole team of people behind them.
In order to bring a vision to life you’ve got to set proper goals, stay focused, be alert and ask for help!
You’re not going to know everything. You might have a great idea to market a product or service to people on a national basis but chances are you don’t have national contacts. You’re going to need someone who can show you how to reach that kind of volume of people, right? The key here is to focus on your strengths and find others to join your team where you might lack.
Are you great at marketing but don’t know how to build a web site?
Can you build a web site but lack in the way of writing content?
Understanding your strong points will enable you to choose team members that will compliment your vision and style.
My Wealth Team strategy consists of two divisions “On the Business” people and “In the Business” people.
“On the Business” people are your business end people, for instance someone like me a mentor or coach, financial planners, people that support your entity structure.
And…
“In the Business” are people on your team that help it function. These people are a personal assistant, bookkeeper, sales and marketing person, etc.
So as you can see you may even have some team members and not even realize it!
Look, we all know doing everything on your own will spread you very thin. It will cause you to burn out and when times get tough (and there will be those times). It will be easier for you to throw your hands up and say “I Quit!” Don’t go there.
Hiring a team is a big step. You don’t have to do it all at once. Make decisions based on your fastest path to cash. In other words, if you need someone to go and sell your product to local businesses (and you can’t do it) don’t hire a personal assistant first. Hire your sales team.
Always be asking “What is my fastest path to cash and who can help me get there?”
Ready GO!
Loral
Comments are welcome below…
