Building your money team

Wealthy people have wealthy friends and poor people have poor friends.

So how can a poor person develop a network of wealthy friends to learn from?

Let’s explore how to pull off this critical strategic life maneuver.

The way you speak. The things you say. The ideas you share.

These all tell the skilled listener the way you see yourself and the world around you.

Have you ever sat at a table of very wealthy people?

What did you notice was different?

Did they brag about their wins and claim to be about to do even better things?

I doubt it.

Have you ever sat at a table of poor people?

What did you notice was different?

Did they brag about their (supposed) wins and claim they are about to do even better things?

I suspect so.

Wealthy people are very aware of the words they use and the things they say.

Poor people say whatever comes to mind and they don’t really care if it is true.

You see, no one is holding a poor person accountable.

They can claim to be about to do x or y, but no one in their world is going to hold them to their word.

They can say they are going to change something or attempt something, but no one in their world actually cares to check in on them and make sure they follow through.

A wealthy person wouldn’t dare to play that game.

Their reputation is the most valuable thing they have.

They’ve spent their life developing their personal brand. And they will do whatever it takes to protect it. 

No way will they say they’re going to do something if they don’t really mean it.

But a poor person can say whatever they like… as no one at their table is actually listening anyway. And they also know that no one will call them out if they don’t follow through.

This is why you need to build your money team with deliberate and strategic intent.

You money team of wealthy people WILL call you on your word.

They will reject you if you’re full of sh#t.

They don’t have time for lazy dreamers who say x and do y.

They know the price of accepting crappy talk like that in their lives.

Therefore your task, if you are poor and want to become wealthy, is to do the following:

1. Become aware of the words that come out of your mouth.
2. Ask good questions, and listen intently to the answers.
3. Learn to hold yourself accountable to what you say.
4. Learn how to hold your people accountable for what they say.
5. And know the difference between people who do the same.

If you can manage the 5 steps from above, then you will deserve a seat at a wealthy table.

No matter what your current net worth in dollars is.

Because they will acknowledge the value of your word.

How I created my money team:

For me it was rather simple.

It has evolved over the past 3 years to become one of the most important things in my life.

We meet for breakfast every Saturday morning.

We hold each other accountable.

I looked around my community and cherry picked some of the most successful people I knew.

They are all far more wealthy than I am. Multiple times over for most of them.

I asked them if they would like to go for breakfast on Saturday morning.

“Just me and a few other like minded people” I said.

They all surprised me and said yes.

Now, three years on, we have a structure and a very solid crew.

We all have a chance to share what’s going on in our businesses and lives, and when someone is talking, everyone else listens and cares.

We don’t deliberately discuss money (yet), but we all know each other's situations pretty well. And most importantly, we all know each other's skills and weaknesses.

When I have a money or business question (very similar really), I can either ask the table when it’s my turn, or I can call one of them and ask for a few minutes of their time.

Do we call it a money team? No.

Does it operate as a money team? Yes.

Has it made a massive difference to my financial life? Hell yes.

How you can create your money team:

I’d suggest doing something very similar to what I did.

Of course it doesn’t have to be a Saturday morning breakfast, but that does seem to appeal to most people.

Perhaps for you it could be a lunch or an outdoor event of some sort.

I wouldn’t recommend an evening event as it usually tends to involve drinking, which compromises the value of the words being said.

And aim very high on the invite list. They can be much older and much wealthier than you. They will appreciate the initiative of you creating the group. Everyone wants to meet new, high caliber, like minded friends. 

Especially in a supportive, productive and structured social environment.

BONUS: The Mastermind:

When you explore a problem on your own, you utilise the power of one brain.

When you explore that same problem with a group of brains, you utilise the power of all of the brains in the conversation.

But there’s a magical bonus that also occurs. Napoleon Hill, in his ultra famous book, Think And Grow Rich, refers to this as the Master Mind.

The Master Mind is the cumulative power of multiple brains working on the one problem. It works like an additional group-think mind, that exists as a result of all the people working together, like an additional brain that is the merger of all in the room.

This is what Napoleon Hill refers to as the Master Mind. It’s the additional mind that is created by the merger of all the others.

Building your money team has the exact same result.

One problem. Multiple individual brains plus the bonus of the master mind that comes from the group.

This is your money team. This is synergy.

I’d love to know how you go with building your money team.

Ask me any questions that come to mind and I’ll be sure to answer to assist you on your journey.

Carpe Diem. Seize the day!

FAQ:

Who should I invite?

My group is all male and all business owners. They are mostly older than me and far wealthier than me. It’s important to have a diverse and complementary group. You don’t want a table of all the same kind of people. You want a complimentary bunch who can learn from each other.

Where should we meet?

Over the years we have concluded that meeting at a good cafe with good quality food is the best option. Having staff take care of us enables the round table process to happen seamlessly. Having quality food means that those at the table with high standards will continue to come back.

What do I say when I invite someone?

I simply tell the person “I have a good bunch of guys that meet every Saturday for breakfast. Would you like to join us one time?”

They can come and check it out. If they fit in, they will come back and become part of the regular crew.

Do I let people pitch to each other?

No. That never happens at our breakfast group. Almost everyone has done some kind of work together mind you, but this stuff is never discussed at the breakfast table. I think this is simply a common trait of wealthy people. And we all like it that way.

What about the logistics?

We have a Whatsapp group for our breakfasts. I propose the venue on Friday and ask people to say if they plan to join. Most of the time I’ll get to the cafe 10 minutes early to reserve the right sized table.

We hover around 6 - 10 people every time.

NOTE: The Whatsapp group is NOT for chit chat or funny things. We all have a respect for each other's time and don’t use the group for social or entertaining stuff.

What are some other do’s and don’ts?

• Don’t exceed 10 people. It takes too long for everyone to have a 5 minute slot and give us all an update.
• Do call people out if they are slack or not on time. We must show respect for each other and being on time is the FIRST place to start.
• Don’t complain or bitch about others at the table. 
• Do tell the truth, no matter how yucky that may be. Your team will only be able to help you if they truly know what’s going on.
• Don’t talk about your group to people who you think would love to come - unless you think they would be a good fit and you intend to invite them. It can be rather embarrassing if they ask and you have to say no for the sake of the team.
• Do invite someone who you think is too good / big / wealthy compared to the rest. You don’t know what’s going on in their lives and what they are wanting right now.
• Don’t wait. If you don’t act on this idea in the next 10 minutes, you probably never will. Carpe diem baby!