The word “success”, mean different things to different people, because not everyone defines success in monetary terms that otherwise would have simplified the difference. If you were to ask any one investment group member known to you if they wished to be successful, you would undoubtedly receive a resounding yes, for the answer. Yet for every one group that succeeds at anything, thousands others never take off.
What really holds groups back?
A very famous Roman Poet, Juvenalis, provided part of the answer. He once wrote in one of his poetic items that “all wish to possess knowledge, but few, comparatively speaking, are willing to pay the price.” This first reminds me of the famous bible verse (Mathew 22:14) “many were called but few were chosen” to the Kings wedding dinner. Inventor Albert Einstein described it differently. He wrote that “It's not that I'm so smart, it's just that I stay with problems longer.” Albert hit it on the head. It is the Individuals in the group, that stay with the problem longer for the benefit of the wider group.
While everyone would love to have plenty of wealth, very few are willing to go the entire stretch carrying on the stressing realities one must pass through to accumulate real substantial quantity of wealth. Wealth is a payment for effort. It is a prize you deservedly earn, and for that reason does not stay where the holder has not undergone some serious transition to create it. It is not quick loads of money.
Certainly some people may be blessed with more natural talent than others, however each of them faces a journey marred with difficulties, obstacles and limitations, when they set out on the journey to success. There will undoubtedly be periods when it is difficult to reach that next level of success. In such times only those very few people endowed with sufficient levels of three ingredients; a strong desire, unwavering dedication and perseverance will still on and move gradually to the next level, while learning.
It would appear that the desire for wealth and power is an innate part of the human experience. Desire is surely not the harder part in failing to achieve success. On the contrary, the commitment to work hard at achieving the desire is really hard to sustain.
You must be prepared to work harder at the goal than others, for a much longer period of time to see different results. The commitment to work hard at the goal is the rare ingredient among members of an investment group. There seems to be some unwritten conspiracy that when people come together in a group, then things just happen.
When you join a group of friends to work towards an investment goal, your talents, strengths and weaknesses join the group too and they have to work well with the talents, strengths and weaknesses of the other members.
Effective group investing require that a significant proportion of the members be in agreement in commitment towards the group goals and transmit sufficient influence on the others members to commit to the common goal money, time and talent. This will reduce "group thinking" as it concurrently encourages leadership to take control.
Each one must be willing to pay the price for the good of all members, even when sometimes you have to work harder than others.
Patrick Wameyo is Financial Literacy Educator and Entrepreneurship Coach Email: This email address is being protected from spambots. You need JavaScript enabled to view it.