Wealth is a team sport

As an entrepreneur or a business owner I would bet that wealth is something you think about fairly often.  Making it, keeping it, sharing it.  All of those are thoughts I have every day.  I am also a strong believer that wealth is a team sport.  I would bet that you have heard that before now.  So what does that mean?

I would contest that no one has become truly wealthy alone.  We all have limited resources in the forms of time and money and concentration and what we can work on.  To obtain and live in abundance requires more resources than any one person can bring to bear alone.

Let’s look at some examples and see where the team lies behind the wealth.  Solopreneurs work alone right?  They build their businesses and accomplish greatness through the effort of their own labors.  Yes and no.  They do toil on their business, but many also bring on help in the form of assistants or virtual assistants.  Then there is also the community that is built around their brand, plus the guys who work on the website or blog, and we can’t forget the customers.  If nothing else, we have to acknowledge without people to buy your products then there will be no success.  Other people on the solopreneur’s team might be lawyers, accountants, suppliers, mentors and coaches, etc.

What about real estate investors?  They find the deals and do the negotiations and close the contracts, they definitely don’t need a team!  Wrong.  Who closes the contracts?  Typically an attorney or title company, and many investors will use the same agent through many transactions.  That closing agent is definitely part of the investors team.  Also anyone who gives a referral to the investor.  Then we again have assistants, property attorneys and maintenance crew that might come in on a contract basis and not be full time staff.  All part of the team.

Why do these team members help someone else.  In many cases they are doing what is right for them in their path to abundance.  The investor or the business owner shares their wealth with their team members, which actually brings everyone up.  That sharing of wealth can be in the form of paying for services, offering some kind of assistance or trade, or in partnering and sharing the profits after the deal or project or launch is completed.

Partnering on something is a very powerful tool for building wealth.  I think for a partnership to be successful everything has to be clearly defined as to who is responsible for what.  Once that is established and everyone does what they said they will do, then there is much more wealth to be built by everyone than if they were working alone.

So in closing I want you to think about who is on your wealth building team.  It can be the people who support you through your trials and give opinions on business decisions.  It can people that help you run your business.  It can be other business that you support because you buy things from them.  Just because you are on their team doesn’t mean they are not also on yours.

I would love to hear from you as to who is on your team and how you help each other build wealth and abundance in your lives!