A cohesive team shares one mindset. They’re in alignment with their goals, each role they will take on, and their journey to get there. This cohesion is a power that snowballs into momentum. When multiple people are working together to achieve one worthwhile and ultimate goal, the chances of success skyrocket. So many people make the mistake of believing they are better off doing everything on their own. They buy into the scarcity mindset that by working with others, you’ll be giving up a piece of the pie. The truth is, you will be giving up a piece of the pie… at first. Everything worthwhile takes time, and delaying gratification yields the greatest results!
Getting over giving up a piece of the pie
Ego is the enemy. Many people are shortsighted and can’t see past the immediate future. When working with others, they view it from the lens of, “how can this benefit me immediately?”, rather than, “how can this benefit both parties mutually so that we’ll be able to accomplish something of greater value than I could do on my own?” Reframing the way you think when it comes down to working with others is a big piece of the puzzle that most people fail to do from the start. This doesn’t mean to just work with anyone who provides little to no value. It means figure out if one another’s contributions can lead to the attainment of something that would not be possible on your own. Leave your ego at the door of success. If you want to enter through that door, you won’t be able to bring it with you!
All parties must provide value
From the start of any successful partnership, there must be clear and concise roles from the beginning. Your role as well as the roles of those you work with must be irreplaceable and a key driving force in your overall success. I gave an example of this in a previous blog post when I outlined my real estate team.
We have three main components to our business. Acquisitions, transaction coordination, and dispositions. Each role is VITAL to the overall success of the business and without one, the entire business would cease to operate. The roles are very clear and concise as to leave no ambiguity for what one’s role and value is. With ambiguity comes anger and resentment regardless of who the person you’re working with is. It could be your best friend, but if they’re not providing value to the partnership and their goals and mindset don’t align with yours, you’ll inevitably begin to feel like they’re taking money out of your pocket. This harbored resentment crushes friendships and businesses. Don’t let this happen to you.
For our business, these are the following roles. They are concise, clear, and to the point.
Acquisitions Manager:
- Pull lists to generate leads of interest
- Call those leads and continue to follow up until contract or removal of lead from system
- Train and oversee the team of callers and aid in their development to close more deals
Transaction Coordinator:
- Create contracts for closed leads
- Coordinate transactions with title
- Work with seller and end buyer in deals we wholesale
- Scrub lists for the acquisitions team to call better leads
Dispositions Manager (me):
- Source buyers and assign contracts for wholesale deals
- Underwrite and determine best exit strategy for deals we choose to acquire ourselves
- Raise private capital to fund our acquisitions
This business structure is extremely clear and specific. Everyone’s roles are defined and apparent to avoid any ambiguity. This harmonious working relationship creates a machine that maximizes business potential. Goals are reached faster. Rather than being a one man show, this type of structure allows you to scale and grow exponentially.
Staying aligned to the vision
Having a concrete process for what needs to get done and who is going to do it makes staying aligned to the vision a lot easier. This alignment and cohesion is the glue that holds it all together, and without it, all can be lost rather quickly. When one party feels as though they are providing more value than the other and tensions begin to rise, that is when a partnership can unravel and all of the work that has been put in can be lost. Holding each other accountable and consistently communicating to make sure you are still all on the same page with the vision and the process can help hash out any harboring resentment before it comes to a head and is an issue. Collaboration and working with others who share a similar vision and mindset as you can be a powerful asset when used correctly. It can be the difference between massive success at scale and mediocrity. The gap is really that wide in this instance. Choose others who you click with, make sure you’re in alignment with them, and get after your goals together.