In business or at anything we do, most important achievements require a great team of people working together. We live in a world where it’s nearly impossible to accomplish anything great as an individual. When you think about it, you’re the product of a globalization, education system, luck, society, media, the internet and so much more. You may be smart but you’re not self-made.
Choose Great People
You need to look for three things, generally, in great people, Intelligence, Energy and Integrity. And if they don’t have the last one, don’t even bother with the first two says Warren Buffett.
Whenever he goes to give lessons to students, he would do a simple game with them. He asks each student to pick a classmate. Not just any classmate, but the classmate you would choose if you could have 10% of their earnings for the rest of their life. Which classmate would you pick and why? Are you going to pick the one with the highest IQ? asks Buffett. Are you going to pick the guy who can throw a football the farthest? The one with the highest grades? What qualities will cause you to pick them?
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Then he asks the students to take out a sheet of paper and list the positive attributes on the left and the negative ones on the right. Turns out, the most useful qualities have nothing to do with IQ, grades, or family connections. People pick based on generosity, kindness, and integrity.
Get the Team Right
The leader’s job is to get the team right. Getting the team right means that people are better as a group than as individuals. Now this is important. Step back and think about that for a second, the right teams make every individual better than they would be on their own.
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Another way to think about this is in terms of energy. If you have 12 people on a team and they each have 10 units of energy, you would expect to get 120 units of output. That’s what an average team will do. Worse teams will do worse. A great team will take the same inputs and get a non-linear outcome. The result won’t be 120; it’ll can be 360. No matter where you’re going, great teams will get you there! multiples faster than average teams.
Build a Great Team
Building a great team is more complicated than collecting talent. Yes, the concept is true. Have you ever heard of the phrase – “You are the average of the 5 closest friends”? It’s better to hang out with people better than you. Pick out people whose behavior is better than yours and you will move in that direction.
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If you have the ambition of either making it big in your life like growing your business or investing successfully, don’t mix too much with people who pull you down. Instead, hang out with people ahead of you. They show you the way and make you strive to keep your aspirations higher.
“Coming together is a beginning. Keeping together is progress. Working together is success.”
– Henry Ford
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