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Originally Posted by Dave Schwartz
Jon,
A few comments, if you please.
A. I think perfect size is about 6. I think you guys would like to have a couple more IF the added ones were workers.
B. Different skills are essential.
C. Trust - but you are assuming that the group may ultimately form a financial partnership. Truthfully, I expect that will rarely be the case.
D. Not only is the mentor important, but the group needs to have at least an informal leader. Also, the mentor (at HSH that will likely always be me) should not be simply issuing orders. I guide, but the group must make their own decisions about direction.
E. People who join a group with only taking in mind, and no real intention of giving, are being dishonest. I am referring to more than just workload as that is only the beginning. If you do not pull your fair share of work - or have some other skill that the group needs (i.e. math, spreadsheets, very creative analysis, something special) - then there is no contribution.
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A - depends on the group - I was thinking one (like ours) that is looking at pooling fin'l resources. If not this route (and I agree - most won't) then yes, it could be bigger (e.g., 6)
B,C,D,E - agree 100%
And to the comment someone said about not giving away secrets...that is true too. The nice thing is if you can get a group that you trust then the secrets the group discovers are for the benefit of the group - many, if not all, would never have been discovered if not for the group.
And if the group is real good you get a few good laughs out of it too (we have for sure)
I think Dave is onto something here that is very powerful if you can be part of the right group (as he laid out in his post).
Tha's my 2 cents anyway
