Blog | Entrepreneurship

How to Build a Winning Team

Choosing who you associate with—and how—wisely

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Your "circle" is made up of the people around you. You probably have several circles in your life. You may have your family circle, your work or business circle, and your circle of friends. If you have a hobby or play a sport, then you have a circle relating to those interests as well.

If you want to be financially successful, it's key that you choose your investing circle wisely.

Choose your friends

My friend Jayne gave me some advice years ago when I shared with her a goal for The Rich Dad Company. It was a big and bold goal. I told her I wanted to make the goal real in my mind by sharing it with more and more people. I figured the more I shared it the better chance it had of becoming real.

Jayne's words were, "It's good to share your goal with other people, but just be careful who exactly you share it with. Not everyone supports you getting what you want. Not everyone is a true friend."

Being an optimist, I wanted to prove Jayne wrong. I wanted to believe the good in everyone. But, a little later, at a New Year's Eve party, I came to understand first-hand that Jayne was right. A friend of mine who went through a health scare shared her goal of losing thirty pounds. She had hired a personal trainer and was getting serious. Five of us applauded her, but later one of her "friends" came over and said, "She'll never make it. She's tried this before, you know, and it didn't work. I don't think she's got the discipline."

With friends like that, who needs enemies? The secret to success is to surround yourself with people who will sincerely support you and encourage you to reach your financial goals. I made the decision years ago to only do business and to only build friendships with people I truly enjoy being around, and who are truly for me. Life's too short to do otherwise.

Sorting out “advice”

The first thing you have to know is what advice or information you’re looking for. This depends on the dream and goal you aspire to. It also depends on your plan to get there. Your plan is simply what you have to do to attain your dream. Your plan does not need to be complicated. For instance, if you decide you want to be a tennis player, that’s the dream. Your plan is to buy a tennis racquet, tennis balls, tennis shoes, and a tennis outfit and to take lessons three times a week.

Second, you have to know who you want to take advice from. You, and no one else, choose what information you put into your brain and which teachers you want to learn from.

Finally, you have to know what advice and information are relevant and meaningful to you, and which are not. For example, Jayne told me to be wise about who I share my future plans with - that was relevant. That judgy “friend” I mentioned above would have probably told me not to chase something beyond my reach. Why would I want to hear that?

Question everything

Question, question, question…and challenge the same old repetitive advice that you hear every day, week, month, and year. Question all advice that you hear and read. Question the “experts.” Question my team and me. Think for yourself. Ask the questions:

  • Does this advice make sense for me?

  • What are the pros and cons?

  • Will this get me to my financial goal?

Sometimes you may not know what questions to ask. Just keep asking because every question you ask is the right question if you’re smarter as a result and if it leads you to make better, more informed decisions about you and your money.

Seek out mentors

Mentors are those who have experience and are more accomplished at doing the things you want to do. There are lots of different types of mentors, including investment, business, fitness, and personal mentors.

My good friend Ken is one of my investment mentors. He owns one of the largest investment property companies in the Southwest and is a very successful investor. What I love about Ken is that he and I will get together to discuss a potential deal and spend quite a bit of time analyzing the pros and cons. Every time, I come away feeling high as a kite because I know so much more than when I went into the meeting.

Many people ask how to find a mentor. I don't have a magic formula for this. Most of the time it happens by happenstance. What is most important, however, is that you need to have your eyes and your mind open. As the old proverb goes, "When the student is ready, the teacher will appear."

Join a group

I believe that women learn very well from other women. That's why I encourage women to form all-women investment study groups. By this I don't mean groups that pool money to invest, rather I'm speaking of support groups that are education focused.

For these types of groups, set your standards high. Invite only women who are serious about their financial education and who are willing to learn and take action. You're looking for like-minded and open-minded women who are willing to explore new ideas and opportunities.

Contribute to your circle

If you are reading this, you can get the information you need to change your lives and pursue financial freedom with the click of a mouse. You are lucky. But many women have no access to any kind of education or future of financial freedom.

The truth is, we cannot rely on your circle to have all the information that will benefit you. They will be pillars of support and will offer what they know, but you too, are a source of rich knowledge that those in your circle find valuable.

For example, you can give a friend the information they need to start changing their financial future just by sharing one of these links:

Your circle is bgger than you think

And what about the women in rural areas worldwide? Most women who really need an education do not have access to it online… so what can you do?

Here’s one idea. After you read your copy of "It’s Rising Time!", "Rich Woman" or any book related to financial education, send it to an organization like the International Book Project at www.intlbookproject.org. You can donate books to them in excellent condition, and they’ll send them to schools, libraries, churches, and more in the developing world and the United States.

What suggestions do you have to get information to women in rural areas on a global level?

Educational poverty is holding women back worldwide, and the media is not helping as much as they could… but we can help. It’s up to you and me to share the Rich Woman information with as many women as possible. It just takes one, simple action.

This is what it comes down to: who you are to your circle, inspires who your circle is to you.

What steps are you going to take to start building your winning circle to take you on your journey to financial freedom?

Original publish date: December 18, 2014

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