A Step-By-Step Guide to Help Build Wealth When You're Just Starting Out

Do you like to do everything yourself and feel no one can do it better than you? That's the called the lone wolf syndrome and when you're trying to accelerate your wealth, it's not an efficient model.

How do you stop being a lone wolf? Tap into your current family and friends experiences, expertise's, or networks. Take out a piece of paper and make a table with 4 columns.

The first column heading is "Wealth Building Activity". What do you want to accomplish this year? Write down 3-6 wealth building activities. These can include items that you already have in process, are incomplete, or haven't been started yet. For example, you can list "Develop a lead generation process", "Buy a duplex rental property", "Invest in the stock market", "Outline tax strategies for my business", or "Put together my personal financial statements (balance sheet, cash flow statement, income statement)".

The second column is entitled, "Who Can Help?" List people you ALREADY know who have skills to help you start or complete the wealth building activities. These people already know you and are very willing to give advice. In some cases, these people may not be able to help you directly but they may be great sources for referrals to others who can help you achieve your goals and accelerate your wealth. Examples of people you already know can be your family (Mom, Dad, sisters, brother-in-law), friends (college, parents of your children's friends, health club), neighbors or people from work. Go through your address book for additional people who can help.

The heading for the third column is "Ask or Call? When?" Determine ahead of time if you will be requesting a face-to-face meeting or requesting for help via a phone call or email. To hold yourself accountable, identify the date when you will call or meet with the person. It is critical that you follow through on making contact with the people you've identified to help you out.

The heading of the last column is, "When Can We Start?" Assume your family and friends say "yes" to your request for help. You need to find a time for both parties to meet and review the items with which you need the most help.

When you meet with these people, be honest, direct and be prepared ahead of time by stating your goal or desire and asking the person how they can help you achieve this goal. Ask them, "What they would do to accomplish the wealth building task?" Take notes, ask questions and discuss what your actions will be to move you closer to achieving your wealth building activities. In your discussions, make sure you are clear about the next steps. If you're not clear, then keep asking questions until you are confident you know the next action step. This also is a perfect opportunity to ask your family or friend if you can request additional information or help from them in the future.

You will be amazed at how quickly you can begin to build wealth once you lose the lone wolf syndrome. Tap into resources you already have and build your wealth team. You will achieve your wealth building goals faster, more efficiently, and with more confidence once you have people around you who support you and your goals.