How to Build Your Net Worth with Your Network
You’ve probably heard the saying that “Your Network Equals Your Net Worth”.
Is it true?
I recently finished reading a “classic” in the network marketing business, Beach Money by Joran Adler.
I’ve had the pleasure of recently meeting Jordan. If you don’t know him, he’s been the number one earner in his company for approximately 17 years.
His story is fascinating. He was anything BUT an instant success in this business.
In his words…
“… after ten years and eleven companies, I had nothing to show for my time, energy, and money but boxes of training manuals, and some old, stale expired nutritional products. I had given up on the network marketing industry forever.”
Does anything in the story of Jordan’s beginnings in the industry sound like your experience? It sure is like mine.
Obviously, Jordan didn’t give up on the industry forever. And despite the number of times I swore I had given up, I didn’t either.
While Jordan built his team very differently than I build today, social media, email marketing, cell phones, tablets and laptops. didn’t exist when either of us were starting off, many of the principles haven’t changed.
One of the key principles that stands the test of time is that “Your Network Equals Your Net Worth.”
Here’s a little self-assessment.
For the following four questions from Beach Money, give yourself a score of 1 – 10, with 1 being low and 10 being high.
Think about the people on your email list, or in your contact management system. If you don’t have either of those start one TODAY! Consider the people in your network when thinking about these questions. Your answers will give you a very clear idea of what you need to work on to improve the quality of your relationships with your network.
Here are Jordan’s questions:
- Do they know you? Do they know what you do? Do they know what you look like and what you are interested in?...
- Do they trust you? Would they call you for advice or ideas? Do they consider you a valuable resource?
- Do they consider you their friend? Do they like you?
- Can they depend on you? Are you rock-solid in their eyes? Do they know that you will be there for them if they need you?
How do you build your net worth with your network?
Jordan and I agree that there are five things you should focus on to build your network and maximize it’s value, which will increase your net worth.
These are five things I’ve been doing every day for years now. They’re a must for anyone who wants to grow a $10,000 or more a month business.
1. Grow Your Network. Add people to your contact manager or email list. Social media is great, but it’s not enough to add new friends on Facebook, new connections on LinkedIn, or new followers on Instagram or Pinterest. We don’t own or control any of these platforms and you don’t want to rely on any platform to stay in touch with your prospects, customers, or team members.
2. Build Relationships. with the people in your network. Get to know the people who are on your email list or in your contact manager. Hop on zoom calls with them, have conversations, get to know what businesses their in, how long they’ve been in the business, what their dreams are, and what their challenges are.
3. Create Awareness. Make sure the people in your network are aware of you, they know who you are, they know what you look like, they know what you do, and they know what your interests are. You want to be sure your prospects, the people in your network, see you as a human, someone they can relate to.
4. Maintain Connection. Stay in touch with the people in your network via, personal messages, birthday wishes, congratulations on work anniversaries and new positions, regular emails and even cards.
5. Provide Value. Don’t view your network as an opportunity to “get”, but rather as an opportunity to “give”. Always lead with value. The more you help the people in your network, with no expectation of getting something in return, the more you’ll actually receive.
When you make a commitment to not let a day go by without adding at least one person to your database/email list, and daily building relationships, creating awareness, maintaining connections, and providing value you can’t
help but over span of two to three years to dramatically increase your net worth.
There are some tips to helping create the Know-Like-Trust and Awareness Factors.
It’s got a lot to do with building your personal brand.
For some super simple and highly effective tips that don’t involve spending money on expensive designers or marketing check out my You Inc. University program.
Celebrating Your Success!