The win-win strategy for creating wealth

Liz Koh.

Jay Abraham, a well known American business consultant, once said "The key of life is value. Value is not what you get, it's what you give. It's figuring out what's important to other people not just you. The real fast track for getting everything and more than everything you want is putting others ahead of what you want and focussing on their needs, their wants, their desires and fulfilling them. In order to be successful, you have to first want to make others successful."

People who aim to selfishly grow their personal wealth with little consideration for others don't understand the power of communities and working with others. At the simplest level, to sell products, you need to have customers. Customers will only buy from you if your products meet their needs. The best product marketers know their customers intimately and develop products based on what customers want. It really is impossible to create wealth without other people.

The most successful people follow a win-win strategy. When communities are successful, the individuals within that community succeed. In weak communities, it is difficult for individuals to succeed. By helping the community in which you live, you improve your own chances of success. The richness of a community lies not just in average incomes but in the support that members of the community provide each other.

Highly successful business people are leaders who empower and inspire others within their organisations. As Richard Branson says "train people well enough so they can leave, treat them well enough so they don't want to". Without good people, an organisation is nothing.

To create wealth, you need other people - professional advisers, customers, employees, tenants, business partners. By understanding these people's needs and supporting them your wealth will grow faster.

- Liz Koh is an authorised financial adviser. The advice given is general and does not constitute specific advice. A disclosure statement is free. Call 0800 273 847. For free e-books, see moneymax.co.nz and moneymaxcoach.com