July 29 2017
For you to become a successful real estate investor, you must build a team that brings together vendors, employees, and colleagues. The argument behind this idea is based on the fact that it is hard to do most things on your own. In most cases, you require people who will guide you accordingly and offer you advice based on your profession or business venture.
In real estate business, it is of the essence to come up with a team of highly-effective individuals who will be there to see you through. It should also be noted that not all groups are equal. You might form a group only for it to let you down. On the other hand, you might form another team that will raise you from hundreds of profits to millions. In simple terms, you must choose your team wisely.
Factors That Make a Great Team
If you want to bring together a great team that will surely have your back when the need arises, always encourage your team to air out their ideas no matter how worthless or stupid they may think their ideas are. When you are as a team, different people will have different ideas. Some maybe afraid to air out their ideas while others will have fun speaking out their minds. In such a situation, always encourage brainstorming. When ideas are thrown right, left, and center, you will always have that one great idea that will make the difference. You should create a “psychological safety” atmosphere that encourages your team members to take risks and give out ideas of what they think should be done.
As a team leader, never get angry at people who give you bad news concerning your business or your product. Most team leaders usually get it all wrong when they are told about the losses that their company is making. As a good team leader who cares about his/her team, you should be in a position to turn the negative news into something positive.
Creating a communal team is another factor that a team leader should always be on the lookout for in any business. A communal team brings together a team that is ready and willing to share information for the benefit of the business. In the case of business meetings, always make sure that everyone involved in the meeting is participating by encouraging them to share their ideas.
What to Consider When Putting a Team Together
When bringing together a team of experts in your business, it is of the essence to consider several principles. Lazlo Bock’s, Google’s head of Operation Departments, lists down a total of five points that each team leader should bear in mind in order to create an efficient team. These principles are as follows.
Teams need to see the important side of their work. When this happens, it becomes easy for the team to keep contributing positively towards the growth of the business.
Teams need defined roles and clear goals. Most teams usually experience conflicts due to the lack of clearly defined goals and responsibilities. Each team member must have a role to play no matter how small the position is.
Teams need to see the meaningful side of their work in a personal manner. In simple terms, teams must embrace their work and give it their best shot as if the job done is their own.
Each team member must be in a position to know that they can depend on each other depending on the situation at hand.