3 Things Eminem Can Teach to Avoid in Your Power Team
In today’s post, Kendall Matthews brings us the second installment on creating your real estate investing power team.
“I always wished for this,” Eminem once said, “But it’s almost turning into more of a nightmare than a dream.”
In the beginning, you have to be the driver, the coach, the energy source of your team.
What does platinum-selling rap artist Eminem have to do with creating power teams?
If you read Part 1 How To Create A Power Team That Spoon Feeds You Deals, you understand it takes a group of like-minded people to succeed. When you start partnering with people, you quickly find out who just loves to talk, shake hands, and pass out business cards. Their actions whisper in your ear, “I wasted your time.” They need to be weeded out quickly.
3 Things To Avoid in Your Power Team
1) Members Who Have a Poor Attitude or Do Not Participate
“I was playing in the beginning, the mood all changed…”
With new partnerships it is all fun at first. High fives and back slaps. But challenges come real quick like flash floods.
Be clear and unrelenting. Poor attitudes cannot infect your team. Carve those cancer cells out immediately, your success depends on it.
2) Say No To Mixing Friendship with Business
Eminem has made a fortune talking about his broken relationship with his wife. Unfortunately, you will only get a “sorry about your luck” from the bartender as you tell him your tales about a friendship-partnership gone bad.
Someone might have been your best friend since childhood, but when you’re driving business deals, friendships take the backseat.
Most times when the team ends, the friendship ends.
3) Poor Communication
“My English teacher wanted to flunk me in Junior High. Thanks a lot, next semester I’ll be 35…”
When you are starting your Income Property Power Team, every detail won’t be clearly defined.
However, you should be clear on what your goals are and write them out.
Make sure you discuss on conference calls, at least every week or two, on progress, challenges, and successes. If you have a large team, check out services like FreeConferenceCall.com or GoToMeeting.com to facilitate your meetings.
Working with a power team should be encouraging and challenging, not a nightmare. You may never win a platinum music record or earn a Grammy award. But hopefully, you will be able to create platinum relationships so that your power team earns you the financial freedom you deserve.
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If you’re interested in down-to-Earth advice and tips on income properties, check out Kendall Matthews’ blog, The Investment Real Estate Corner.
Category: Business Management Systems and Tools, Tips and Tricks
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