Why It’s True That Your Network is Your Net Worth 67

Why It's True That Your Network is Your Net Worth

If we want to achieve more in life and business, we need to invest all the time. We do it with our attention, as we pay it to the right areas and activities, thus taking more focused action in the right direction. We do it with our time – we dedicate it to what matters – and we double our results because of that. We also do it with our money. We try to spend wisely, save a bit, and find new ways to earn more.

But what about our relationships?

They are equally important to all other resources we focus on, and can skyrocket our progress if we give them a chance. Sadly, most people overlook this aspect of business and personal growth. But it turns out that forming good relationships with the right people can lead to more than we can ever accomplish if we do things alone. And that’s why networking is one of the best investments of your attention, time and money.

The Importance of Having a Network

Building a strong network of contacts can take you anywhere. It takes patience, some personal qualities, getting out of your comfort zone and feeling some discomfort, improving your confidence, and more. But once you get the hang of it, you can become a better communicator and use your free time and social life to take your business to the next level.

Why is a network so great? Here are some reasons:

For a start, you get to be guided by those who know what they are doing. Could be mentors who are teaching you what to do. Or advisors sharing their opinion and letting you decide for yourself. Could be regularly attending events in your industry to get inspired, introduce yourself to new people, be around influencers, hear advice directly from the source, and to see your role models and maybe have a quick chat.

Second, there are the opportunities that start coming your way, from anywhere, once you start investing more time into building a solid network. Even if you’re not looking for something in particular, but just putting yourself out there and enjoying the company of other professionals, like-minded people and high achievers, you’ll receive a lot in return. That will come in the form of ideas, collaboration, offers, recognition, referrals, career opportunities, friendships, and more.

Third, it leads to growth in many areas. By being exposed to the thinking of new individuals in your industry, you gain a new perspective. That’s crucial for the next steps you take in your own ventures. You also don’t allow yourself to have doubts or get lazy, as you’re always aware of how hard others are working.

I’m sure you know pretty well how powerful information can be. Well, by networking consistently and strategically, you can gain knowledge the smart way. Meaning, you can learn about industry trends without having to do your own research and waste time. You can find a new potential client or partner by casually giving a business card after a friendly chat, instead of investing in online ads and marketing research to get in front of your target audience.

It’s true that it’s more about who you know that what you know.

Thinking about Rebranding? A Company Event Is The Way to Go

But it’s also key to know the right people, to be open to knowledge, to give something back, to then put the new information into action.

Your network is also your net worth because it’s directly related to your status and whether you’re recognized in your field.

Ultimately, all these benefits turn into growing your business.

Next comes the question, how do we strengthen this network?

The things that usually stop people from doing anything about this are connected to the how.

  • How do you find the new connections most beneficial to your career goals?
  • How do you begin a conversation with new people?
  • How do you properly introduce yourself to strangers?
  • How do you maintain a habit of connecting with those in your network?
  • How do you get the confidence/motivation/skill/extroversion to do so?

That’s where David Burkus comes in. For the last 2 years, he’s been studying the science of social networks and became fascinated with what are called “super connectors.”

Super connectors are the glue that hold networks together…literally. They’re the people that always seem to know someone you’re looking for. They’re the ones who are always connecting influential people to each other. And they’re the ones who are always being introduced to new people.

David’s gathered more than 60 super connectors and interviewed them to draw out the lessons they’ve learned along the way and the advice they’d share with anyone looking to grow their network.

He’s hosting all these experts in a one-time event called the Super Connector Summit…and it’s completely free.

It starts on Monday, October 30th and you can grab a free seat now:

Reserve your spot for the Super Connector Summit for Free,

It’s time to take control of your network, improve your connections and strengthen your relationships. If you’re finally convinced that your network is your net worth, and are determined to do something about it, you can join this event for free and let 50+ experts show you how to do that.

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What the Richest People in the World Have in Common 9

What the Richest People in the World Have in Common

Getting rich is something everyone dreams about.

For those facing financial hardships, getting rich seems the only way out to tide over shortage of money. For the bourgeoisie – the working class – getting rich conjures up visions of stuff they want to buy for luxury or higher social status. Millionaires also wish to get rich: they want to become billionaires and enter Forbes List of the world’s wealthiest people.

Unless you inherit a fortune or get lucky at lottery or sweepstakes, getting rich can be quite tough.

Yet, there are countless rags-to-riches stories around the world. Enterprises such as Amazon, KFC, Facebook or SpaceX have become runaway successes within a short span. The reason: their founders have several things in common, which is rare among other people.

Here we look at various traits that the world’s richest and most successful entrepreneurs have in common.

The Common Traits of The World’s Richest People

The Common Traits of The World's Richest People

1. Serving People.

“If your only goal is to become rich, you will never achieve it,” said John D. Rockefeller, who laid the foundation stone for America’s giant petroleum industry and his own enterprise, Standard Oil. The same adage holds good today.

Facebook, for example, was launched by Mark Zuckerberg and his roommate, Eduardo Saverin to allow Harvard University students to share profiles and pictures

There are countless such examples of ordinary people striking rich. However, they share one thing in common: serving people. The main objective of launching these enterprises was to make life easier or enjoyable for people rather than earning money.

2. Reading Books.

Microsoft founder Bill Gates, celebrity TV show host Oprah Winfrey, SpaceX and Tesla CEO Elon Musk, Berkshire-Hathaway CEO Warren Buffet and several other extremely rich people of the world have one more thing in common: they are avid readers.

Bill Gates reads at least 50 books every year – an average of nearly four and a half books per month.

Elon Musk owes his success at SpaceX, the project to open space tourism to his love for books and the knowledge he gained from them about rocketry. Oprah Winfrey attributes her success to dozens of books, including some 70 top titles she read on her way to success while Warren Buffet spends about 80 percent of his day reading books.

3. Long-Term Financial Strategies.

A report by CNBC states, all wealthy people depend upon long-term financial strategies rather than short-term gains. They utilized their earnings and savings to invest in safe stocks that would assure gains in the long run rather than indulging in risky trading that can offer high returns.

Such financial planning and decisions ensured they do not lose money. Further, they invested money in their enterprises without the hope of immediate returns.

These wealthy people first focused on building a brand, offering value for people to identify with the brand. And later, popularize the brand through word-of-mouth publicity, which is more effective than traditional advertising.

4. Never Say Die.

Yet another common character trait shared by the world’s richest people is, they are not quitters.

Like every other human on Earth, these wealthy folks also witnessed ups and downs in life. Some of these were so overwhelming most ordinary people would have called it quits and gone in search of easier ventures.

Brian Chesky, Joe Gebbia and Nathan Bleckharczyk, founders of Airbnb, the world’s largest hotels and accommodations aggregator were plagued with financial problems.

 

Heavily encumbered with debts, bankruptcy was staring at these entrepreneurs in the very eye. Yet, they did not budge. They innovated their service that made Airbnb the world leader in its field today.

Another excellent example is Colonel Harland Sanders, whose recipe for fried chicken was rejected as many as 1,009 times before it was accepted. Col. Sanders is the founder of global chain Kentucky Fried Chicken or KFC.

5. Accepting Criticism.

Most people flee from criticism of any sort. Rather than learning from negative comments arising out of their behavior or work, they take umbrage rather quickly. Yet, they do not bother to amend their behavior or work pattern.

All wealthy people, however, are different. They are willing to be criticized for introducing new ideas or thoughts.

Jeff Bezos, founder of Amazon, rightly says that those who will try and do something new must be willing to draw criticism.

Steve Jobs, founder, Apple, Inc. puts it in even stronger words: “If you want to make everyone happy, do not become a leader; sell ice cream instead.”

The success of Amazon and Apple proves their founders were right when it came to accepting criticism.

6. Out of The Box Thinking.

how regular life looks like and why it won't make you happy

Thinking outside of the ‘box’ or a typical mindset is often impossible for most people. Understandably, because everyone draws their mindset from factors and circumstances they are raised and educated in.

This mindset eventually becomes a formidable fetter for anyone wanting to become an entrepreneur. Generally, most people follow the flock and take professions they falsely believe as best suited for their skills. Others try to follow footsteps of their parents.

The wealthiest people in the world never followed flock or took lucrative professions of their parents.

Mark Zuckerberg’s father was a dentist and mom – a psychiatrist. Bill Gates’ dad was a banker father while his mother was a lawyer.

Despite coming from wealthy families, they chose to follow their passion rather than confine their thinking to the proverbial boxed mindset. Col. Sanders had lost his parents at a young age of six years and had to shoulder responsibilities of his siblings.

Other Examples of What The Wealthiest People Have in Common

As we can see, these qualities or personality traits are common to the world’s richest people. It sets them apart from others. Most of them launched small enterprises with the sole purpose of bettering the lives of people. Their products or services gained popularity because money was never their consideration. Widespread use of their technology, products, and services eventually led them to become wealthy.

These traits are not typical to the US or the western world, as one may mistakenly come to believe. A glance at some richest people in India and elsewhere also reveals, they share the same characteristics with their American counterparts. This amply proves that richest people around the world share something in common, regardless of where they live and flourish.

Another common trait that all rich people share in common is philanthropy.

Since childhood, they believe in giving back to the society and helping the underprivileged. They practiced charity when they were not so rich and continue to donate money for the betterment of the society even after becoming billionaires.

These richest people on the planet never waited to become wealthy. Instead, they were philanthropists since childhood – a trait most other people pathetically lack or try to foist upon themselves to gain popularity.

In Conclusion

It is not easy to become wealthy. Or everyone would become a millionaire. People who do make it to the top have a different way of thinking combined with an undying zest for learning new things and educating themselves.

They do not consider conventional learning at universities as the end of their education. Instead, they try and acquire new skills every day and find ways and means to become better humans rather than focusing on fattening their purses.

The world’s wealthiest people also share one common trait: they are not people pleasers, despite their generosity and willingness to serve the society. Because they know, trying to please everyone will get them nowhere and could mean possible failure.