Should I Build a Personal Finance Team?

Becoming financially free is not an easy goal especially for those determined to get there on their own. Initially, I had believed that it was a goal in which I can achieve as a solo character. Oh how that has changed!

Trust me when I tell you that coming to this realization was extremely difficult for me. I had always been someone who had refused help from anyone and would try to solve a puzzle without the assistance of others. I am quite sure that many of you may feel the same.

In this post, I will be sharing with you some of the reasons that I came up with in which having a team could help you accelerate your finances.

Division of Labour

The first and probably the most obvious reason to build a team is the division of the work load.

More hands on deck would simply mean that you would have to spend less time to accomplish the goal. Having a competent team will provide you more free time to focus on other projects without having to worry about the menial things.

You may want to consider building a team by hiring freelancers. Although I would strongly advise against this, I have had some success in the past. Personally, I am going to spend less time trying to hire freelancers and more time networking with people who share the same vision.

Better Ideas

Another benefit to building a team would be the synergy of more than one mind. More minds would mean that there would be more ideas on how to get the project done.

A teammate may come up with a better idea or solution that will achieve the same result faster or more efficiently.

More Leverage

A lot of investments will require a large amount of capital. Leveraging money to afford these investments will be much easier with a team.

Would you rather have a piece of the action or pass on a good opportunity? Thinking win/win is one of the habits that will help you in your personal finance journey.

Playing to Individual Strengths

According to Hamilton’s wealth dynamics, everyone has their own genius path to creating wealth. While some may be creative, others may be good at building relationships, accumulating knowledge or supporting.

Having a team that can cover all the geniuses will make the collaborative efforts more effective. Each team member would be able to play to their strengths in the business.

My Mastermind Group

These are only some of the reasons why building a finance team is important.

In light of this, I have decided to create a mastermind group here at ME. This group will be an effort on my part to start building a team of personal finance enthusiasts who shares my vision of early retirement. My plan is to build a team of people who are genuinely interested in finance strategies and business opportunities.

In the mean time, I will spend some time thinking of how this is going to work. Once I have the details figured out, I will provide an update on my blog.

Do you think that building a team is essential to financial success?