Albert Einstein might have discovered the theory of relativity, but he wasn’t a lone genius. Rather, the most brilliant mind in history collaborated with friends and colleagues, including Marcel Grossman, during the development process.
Similarly, while natural talent played a part in Usain Bolt becoming the world’s fastest human, coach Glen Mills was an integral part of his success.
In fact, you’d be hard pushed to find a notable human achievement in any sector that wasn’t the culmination of a team effort – whether that’s walking on the moon, mapping the human genome or climbing the highest mountains.
Property investment is no different.
The value of a team
There are plenty of reasons why two heads are typically better than one when you’re working towards a common goal.
Here are three benefits of being in a team.
Firstly, everyone brings something unique to the table, whether that’s skillset, background or experience. Collaborating with others helps you make the most of these differences, as you can draw on people’s strengths to give you a competitive edge.
Secondly, being a part of a team is typically more efficient than going it alone … and not just because you can share the workload. When an experienced person does a task, they’ll usually do it better and faster than a beginner.
This brings us nicely to the third benefit of being in a team: knowledge transfer. When teammates work together, they learn from each other, so everyone’s skills improve.
What to look for in a property investment team
John Maxwell famously said: “Teamwork makes the dream work, but a vision becomes a nightmare when the leader has a big dream and a bad team.”
Getting the right team is critical to your success as a property investor. So what are some of the qualities to look out for when building your property investment team?
Well, it goes without saying you want people who have the knowledge and dedication to look after your interests.
They should be responsive and trustworthy, and professional and transparent in their dealings.
Finally, you want team members that share your values and ethics, with a personality you can get along with.