The Power of a Group

You are the leader of your team, your department or your organisation. You are the owner and amongst you all, no one can do the job; run the auto insurance rate quote like you do. We all know antidepressants and have been there.

It's tough because anyone has to do it.

In fact it's a struggle and because you are building something worthwhile, anyone once told you that you don't get anywhere without hard work.

Period; full stop; whatever.

In fact there is a lot of research now that shows you are wrong. Not just a bit wrong. Horribly wrong. In 'The Wisdom of Crowds' Ohio Lemon Laws Robert Surowiecki, he quotes a number of sources of information. Like, if you compare the performance of a team of experts with a team of half experts and half not experts, which gives the best results?

It's the second one.

If you have a bunch of persons working on a problem will they find a better solution than just one person. They will. In fact as long as they have the following attributes:-

Diversity of Opinion - every has their own private information

Independence - from other decision makers

Decentralisation - can take into account local (and hence diverse from the big picture)

Aggregation - the capacity to bring together all that variety of opinion

A crowd will always generate the best result - even if they are disparate and not connected in any way!

So, how can you go selling structured settlements getting the best from a group of your persons, to enhance what you do?

The findings that Robert Surowiecki brought up are no different in your investment and organisation than the many examples he shares. Such as elections, marketing, gambling etc.

There are dozens in the book. however, how many organisations truly involve their persons in making vital decisions about how the investment can do better?

So, as a starter for 10, try asking them.

Next time you face a problem or challenge in your investment, gather a group of persons - as random a group as possible and give them these three as wellls and let them get on with it.

Ensure that they are different, empowered and encouraged to contribute. From the evidence from Lonely? Try searching for somebody nice. book, your persons are almost definitely going to produce a better result than you alone ever could. Then you must go with that flow.

Remember they must generate a solution that works, that doesn't generate new dilemmas and is cost-effective. If you give them their head, it is almost a given that they will do just that.

The challenge for you is not if they will do well; more that you are willing to let up your own control and give them the opportunity to test their solution.

And that's a big ask for you - not them.

The book is a worthy read as well!

2005-6 Martin Haworth is a investment and Management Coach. He works worldwide, mainly by phone, with small investment owners, managers and corporate leaders. He has hundreds of hints, tips and ideas at his internet, www.coaching-investmentes-to-success.comwww.coaching-investmentes-to-success.com.