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

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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5 Convincing Reasons to Start a Business in Your 20s and 30s

5 Convincing Reasons to Start a Business in Your 20s and 30s

Every day we hear about brilliant minds who have made their first million before the age of 25. There are even businessmen who reach success and experience the advantages of self-employment before they turn 21. This influx of young gifted entrepreneurs makes you think there is no room for startupers over a certain age in any industry. But is it really the case?

Seasoned business analytics and researchers say there is no ideal age to start a business. You can be a successful entrepreneur fresh out of high school, but it’s also not uncommon for people in their 40s to finally find their entrepreneurial path. However, 20s and 30s remain the most popular age for starting a business, and that’s what we’ll focus on today.

Why Start a Business in Your 20s and 30s

1. Risk-taking

The importance of taking risks and accepting the outcome of your decision doesn’t need any explanation for entrepreneurs. As a startup founder, you will face risks every day, and this is where a person with more business expertise can encounter their first difficulties.

When someone is over 40, they’ve likely already taken big risks and failed. It means that they’ll be much less inclined to do it again. This is how older businessmen think they avoid complications, but that is also how they miss opportunities.

People in their 20s and 30s normally don’t have that kind of experience. They understandably have qualms about risk-taking. However, in the end, they usually decide to make a risky move, and there is a very good chance the risk will pay off.

Related: 4 Ideas for Side Hustles You Can Start This Weekend

2. Knowledge

Those who launch their business after 40, usually have certain business experiences under their belt. They may have taken part in starting their own business or witnessed the birth of a business of a friend or coworker.

When you’re in your 20s or 30s, you may not have the same real-life knowledge of how businesses begin. Nevertheless, you have something much more important: the knowledge and skills you received at college.

The importance of college education for launching a prospering business is often overlooked. Yet there are essential things you can only learn in college, and that’s exactly the foundation you need for building a viable business.

3. Responsibilities

By the time they are 40, people accumulate a lot of financial responsibilities. Families, mortgages, car payments, and medical expenses not only eat up a large part of your budget but also make you much less flexible.

It’s a popular thought that businessmen in their 20s and 30s have nothing to lose. That may not be completely true, as some people start families when they’re fairly young. However, when you’re under 40, you have more freedom for making choices.

If you’re a forty-something father of three, your business decisions will be dictated by the risks you’re able to take. Young people have fewer things restricting them from making bold decisions and, ultimately, succeeding.

Related: How to Start a Profitable Blog – This step-by-step guide to starting a blog is a must for everyone who wants to start earning online and become self-employed. Having your own blog is the first step to selling products, making money from affiliate marketing, building a name for yourself, getting traffic and monetizing that attention.

4. Resilience

How To Turn Fear into Power and Create Personal Breakthrough

If there is one thing experienced entrepreneurs would like every beginner to know, it’s that launching a business will be a journey filled with ups and downs. If you look at business success stories, you’ll see that each of them comes with their share of failures.

Impressionable young businessmen don’t react great to failures. Their initial reaction can differ, but it always includes disappointment, resentment, and even a desire to quit. If they’re lucky, their support system won’t let them quit. If they’re not, then the days of their startup are numbered.

It’s a different story with people in their late 20s and 30s. They arrive at the starting point of their business with an understanding that failures are bound to happen. It doesn’t mean that they’re completely immune to failures, but they are guaranteed to have a more mature reaction.

5. Technology

Technology is a vital part of launching a startup these days. There are thousands of businesses that only exist online. Even if your business is completely offline, technology can still be a valuable aid in the business development.

People over 40 may understand the importance of using technology in their business. They may even move their business online or take successful steps to foray into the digital world.

However, they will never have the understanding of technology of a 28-year-old.

Today’s 30-year-olds are not only fully familiar with technology – many of them are actually digital natives. These people have spent most of their lives with the digital world being an essential aspect of living. That is why technology-skilled young entrepreneurs are the future of business.

Conclusion

According to those who have a multi-faceted experience in business, starting a business at any age has its challenges. Entrepreneurs that are 20, 30, 40, or 50 years old have their strong suits and weaknesses. However, there are many reasons why the age between 20 and 40 is the golden age for launching a business. Take risks, learn as you go, use your forte, don’t let anything distract you, and soon your name can be part of the world business hall of fame!

About The Author

Christine Acosta is a content manager at App Reviews. She specializes in digital marketing and content creation. Christine is also passionate about startups and business development. She uses her degree from the Florida Institute of Technology to offer sound advice to those who launch their own business.

starting a business at any age has its challenges. Entrepreneurs that are 20, 30, 40, or 50 years old have their strong suits and weaknesses. However, there are many reasons why the age between 20 and 40 is the golden age for launching a business. Check out this post to see what they are: #startabusiness #newbusiness #smallbusiness #bossbabe