Have you ever worked with a large body of people to create a document by consensus? That's been my challenge lately because of a project that I've been involved with which is requiring just that.

There are over 10 people involved, and all are greatly familiar with the subject matter. They have all worked in the field that we're discussing for many years.

That isn't to say that they all view the material from the same perspective, however. Or that they work in exactly the same way within the field, or with the same clientele, or under the same requirements.

These different perspectives add dimension and richness to the material that we're creating, but also leave room for misunderstanding and different prioritization.

Thank goodness that we're not doing this unsupervised. We're using a consultant who is facilitating and guiding us through the process. Sometimes when we get into a word tangle, she's the one who comes up with the solution. She's done the same type of consensus document for many different industries but has the common thread of the final outcome in mind regardless of our word-smithing.

So I'm being schooled in collaboration. I was better at this when I was still working in corporate America, but I've been self-employed since 1979 so my days of conference room interaction are a bit dusty from time.

At times I find myself just letting the process swirl around me without getting overly involved. At other times my English-major self gets caught in a poorly crafted sentence. And then there are those times when the subject matter we're discussing is very dear to me, and I'm the one that others are trying to manage.

We had another work session last night, and for a period of time I was able to sit back and see the social experience of it all.   A group of talented people sharing their expertise in a field that we all see a little differently.  

It's been like a working example of the old joke about the blind men describing an elephant. Each is describing the individual part of the elephant that he is touching, but the descriptions don't resemble each other on the surface until the entire subject is revealed.

This remarkable and instructive project has initiated the subject of this issue's article: The Magic of Collaboration. Our financial lives aren't lived in isolation, and the skill of collaboration becomes valuable in order to reach your goals, whether you're collaborating with your spouse or partner, your tax preparer, your financial planner, and/or whomever else you encounter on your financial journey.

My part of that journey is to help you create a stress-free money life, so that your day-to-day financial transactions go easily and virtually effortlessly. Please call me or email me if your financial life isn't feeling easy and effortless, and we'll collaborate in turning that situation around.

We don't need to be trudging on our financial journey.  

We can be strolling and enjoying the rewards of our labor. Which would you prefer? 

Until next time,

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p.p.s. A special welcome to my new subscribers!  I sincerely hope you will appreciate my articles and insights!

sb  

We're never taught collaboration. I was told to play nicely with others, but not how. I was taught I needed to share. I played in team sports. But I don't remember any lessons on collaboration.

Collaboration is more complex than sharing or playing nicely, because within the concept are several skills: communication, compromise and consideration. There are probably other "c" words I can come up with but that gives you the gist of the complexity.

Effective collaboration requires a shared goal and a safe place to work it out. It works best if there is shared respect among the participants. When it is concluded, you can tell its effectiveness by how everyone feels about it: an outcome that didn't reflect any one person but that each can stand behind.

In our financial lives we're faced with collaboration often. I don't prepare my own taxes, so I collaborate with my tax preparer about the process. I don't place my own investments, so I collaborate with my financial planner to create my portfolio.

I collaborate with my clients to create improved financial outcomes. We collaborate with our spouses and partners on just about everything financial.

Because it occupies such a center stage in our financial lives, I thought I'd take a moment to talk about effective collaboration.

BENEFITS

• Re-fresh our thinking. I was talking with a client last night and she had gotten stuck on a financial thought loop. I helped her re-think the situation and offered her some techniques for intervening on herself. We all get stuck in thinking the same thoughts without new input. Working with others gives us new perspectives and possibilities.
• Build energy. Facing a project by yourself is sometimes daunting, and sharing it with someone else can bring up more positive energy, passion and focus to the outcome. An associate who's been in her field for many, many years decided to collaborate with another professional on a teleseminar. She told me afterwards how much more she enjoyed the process and how much better the outcome was.
• Shared skills. When we collaborate we get to use the skills of everyone involved, and that can often include skills that may not be our forte.

GETTING THE BEST RESULTS

There are some common characteristics of effective collaboration:

• Shared goal. It is worth taking the time at the beginning to get agreement on the outcome you're creating. Knowing the why, what and how long can keep you on the right path.
• Respecting your co-collaborators. It is easy for ego to get involved, particularly since good collaboration has differences as part of its process. If you can come from a place of mutual respect, you can weather these different perspectives, particularly when they are opposed to yours.
• Don't get stuck in the detail. Everything can always be a little more perfect. You're not shooting for perfect, but rather for effective: will your final result meet your desired outcome. You can also go back when the entire project is completed to catch any glitches that you may spot in the final look-through.
• Trust the process. If you go into the experience with the attitude that you're creating a better outcome, you can stay involved with more passion. If you go into it thinking that you could do this better by yourself, you are inviting frustration before you even start.
• Use communication tools. If there is a sticking point it can often be due to mis-communication, so you might want to restate what you're hearing to make sure that you are talking apples and apples.

THE "MAGIC" PART

When the collaboration follows an effective path, you create a better and richer outcome than you could by yourself. You will also have the buy-in of everyone you've collaborated with. And finally, you'll know your co-collaborators a lot better than you did when you started. Collaboration is surprisingly revealing of the internal process of those involved, and it's like unwrapping an unexpected gift.

Finally, I would like to collaborate with you about improving the outcomes you're experiencing in your money life if they currently don't agree with your goals. I can provide the intervention that may be needed with different thoughts, experiences and tools, and have done so for clients just like you for over 20 years.

Perhaps it's time for you to experience the magic of collaboration. You don't have to go it alone. Email me today!