Using the Multiplier Effect to Create Abundance

When Your TEAM Succeeds You Succeed

Something magical takes place when those around us are successful. They create a kind of gravitational pull that allows us to rise with them as they rise to the top.

Of course, this can only happen when their abilities and our abilities are complementary.

The acronym TEAM sums up why this is so: Together Everyone Achieves More.

By focusing on those things at which we are truly superior and encouraging the best in others, a multiplier effect occurs. Whether this takes place in a business or home setting, it’s the moment when great things begin to happen.

With teamwork, we can choose to stop wasting time and energy chasing multiple achievements along our competency spectrum. Real abundance beings to take hold at that point.

Living an abundant life is about much more than simply money. It’s about having the kind of spiritual, intellectual, emotional, and financial balance that allows us to use our time and means wisely.

It’s also about the satisfaction that you’ll have the means to live a life of meaning. It’s about being able to create a legacy with your children and grandchildren to teach them the rules for success.

It’s also about knowing that you have positioned yourself and your retirement nest egg in such a way that you can thrive regardless of what’s happening economically.

This means that you’re insulated from the effects of rising taxation and inflation as well as ongoing market volatility. A lot of people have had two rude awakenings in the past 12 years when the market fell and they lost a third or more of their retirement savings.

On the other hand, those who understood and applied the principles and strategies of abundant living slept soundly at night knowing they were safe.

The abundant life also includes the peace of mind that comes in knowing that you will not outlive your nest egg.

These are just a few of the skills required for truly abundant living.

Harness the Power of the Multiplier Effect

In the late 18th Century, economist Adam Smith introduced the concept of division of labor. He used the example of a pin factory to illustrate how multiple workers focusing on a specific task and performing that task with excellence, increases productivity for all of them.

Through teamwork, they have created a multiplier effect that results in a superior product than if one person had to create every pin themselves. This is a principle that can also apply elsewhere in our lives.

For most organizations to succeed requires several moving parts. That’s where the division of labor comes into play. The key is to identify what we are superior at doing and to work with others who are superior at all the other things that we’re merely competent or even excellent at doing.

If each of us were to look at the spectrum of our strengths and weaknesses, we’d find varying degrees of incompetence, competence, and excellence. But there would be very few things at which we are truly superior.

But when we focus solely on developing the two or three things at which we’re truly superior—that’s the place where true growth begins.

So how exactly do you know what you’re superior at?

We should start by asking ourselves this question: What can I do that gives me real energy and passion? We’re talking about a degree of passion that keeps you going without any sense of getting tired.

It’s also important to remember that it’s not just our superior strengths that matter. We all have families, businesses, church and other associations that bring us in contact with others who have superior strengths as well.

It’s the kind of life where you can serve the organizations and causes that are worthy of your support. An abundant life is one that leaves its mark on this world, not just for today, but for generations to come.

Learn more by visiting with a wealth architect today.