Relationships vs 'Power Team': the fallacy
There was a moment last week when I laughed out loud. I am enjoying Paul Higgs' MLA Accelerator Land Course, great content, and detailed delivery. Paul is one to call a spade a spade, he has more experience in his area that almost anyone else, and is worth listening to. His point was that people love the idea of a 'Power Team' but that there are risks associated with getting other people to do the important stuff for you. Like Paul, I hate a buzz word and property is full of them. Buzz word bingo anyone? Also like Paul I agree with those risks and have personally experienced them, losing track of something due to over-reliance on someone or shirking responsibility myself.
Relationships ARE vital in this business. There is also a huge range of competencies in every profession. Conveyancing solicitors are not all alike; ditto solicitors; ditto planning consultants and so on. You need to sort the wheat from the chaff and get and keep the good ones. The time spent fostering these relationships pays dividends and in many ways, a business, like mine, can be built on the foundations of these relationships. Like any relationship though it can become stale and you may, through no one's fault, change direction and focus.
A 'Power Team' implies that it's an exclusive club, a small team with fixed roles. A bit like when football teams used the same 11 players all season, many years ago. Much as those days have gone in football, they have in property too. It also implies that you can pass on responsibility to those people. You can't. You have chosen them because they are the best at that bit and will know a lot more than you in that area, BUT only you have the holistic view of the project as a whole and YOU must make the decisions. As in project management, only one person can manage the process cradle to grave and that is YOU.
My view? A 'Power Team' is an ephemeral state - a phantom, a fallacy in terms of sustainability. It works on one project and MAY be duplicated a few times if lucky, but likely will always change. To make it work and if you need a name, it should be a 'Power Squad' and YOU are the manager. Your neck is on the block and it is your reputation and money that is at risk - NEVER lose sight of that. Always review it and view each project differently, make up the team from the APPROPRIATE members of the squad, and never take your eye off the ball.
A quick shout out to a few of my current 'Power Squad' - legends all of them and people who know the wider Brighton market. Hands off!
Solicitors - Lauren Fitzgerald - https://www.dhirubhai.net/in/lauren-fitzgerald-237459b/
Solicitors - Lawrence Gibbons - https://www.dhirubhai.net/in/lawrence-gibbons-6a41559/
Finance - Rob Grice - https://www.dhirubhai.net/in/robbiegrice/
Finance - Elliot Brown - https://www.dhirubhai.net/in/elliotbrownlloyds/
Architect - James Boys - https://www.dhirubhai.net/in/james-boys-04788746/
Architect - Richard Dollamore - https://www.dhirubhai.net/in/richard-dollamore-19b35421/
Planning Consultant - Gareth Giles - https://www.dhirubhai.net/in/gareth-giles-348932a4/
If you are interested in working with me or Target Five please get in touch. Any feedback welcome!
Consultant Partner at Jury O'Shea LLP
4 年I agree Andy - the “squad” need to know each other’s strengths and weaknesses and work accordingly.
Partner at Whaleback. Chartered Fellow of the Royal Town Planning Institute.
4 年Good way of looking at it. Always a balance between the need to delegate and the need to retain control of projects. Dynamic team management is a daily challenge.
Property tax consultants working with property investors/developers to ensure they pay no more tax than they are legally required to.
4 年Like the concept of the 'power squad' Andy. A little competition brings new ideas and skills producing better results all round.