Building the “perfect team”, both within the world of Real Estate Investing and in the everyday world, is about as easy as spotting a unicorn. In other words, impossible. That being said, I would recommend that on any given team, each person should first identify their strengths and more importantly their weaknesses.

Weaknesses can be difficult to isolate in ourselves because we have to put aside our egos. However doing so will not only allow you to grow, but will also highlight your abilities. Once you have this information at hand, you must find people who believe in your business model. Money can be a great motivational tool, but I have found that happiness is often a stronger motivational tool. So, find people who are passionate about what they can bring to your business model, people who see the long term goals, and enjoy the success of the team.

Finally, set expectations for your team. Every member has a role that is tailor-made for them so that they might better the team, so set goals that will ensure the best end result, i.e. the win.

FORBES lays out the “6 Ways Successful Teams Are Built To Last” below.
1. Be Aware of How You Work
Be your own boss.  Be flexible.  Know who you are as a leader.
2. Get to Know the Rest of the Team
Think of your team as puzzle pieces that can be placed together in a variety of ways.
3. Clearly Define Roles & Responsibilities
 A team should operate as a mosaic whose unique strengths and differences convert into a powerful united force.
4. Be Proactive with Feedback
Take the time to remind someone of how and what they can be doing better.  Learn from them. Don’t complicate the process of constructive feedback.  Feedback is two-way communication.
5. Acknowledge and Reward
When people are acknowledged, their work brings them greater satisfaction and becomes more purposeful.
6. Always Celebrate Success
Celebration is a short-lived activity.  Don’t ignore it.  Take the time to live in the moment and remember what allowed you to cross the finish line.

 

 *Check out a more detailed list at FORBES Magazine’s 6 Ways Successful Teams Are Build To Last.
**Also, for further reading on topics related to Real Estate Investment, check out our blog.

Leave a Reply

Your email address will not be published. Required fields are marked *