How a strong network contributes to wealth building
We often talk about the importance of investing money in assets such as stocks, bonds and real estate, but not in relationships.
Investing in relationships and the right network is a critical wealth building strategy that everyone should consciously adopt as humans are the most valuable asset.
How often do we invest in our most valuable assets, people?
Porter Gale is a public speaker with over 20 years of experience in marketing and advertising and the author of the book ‘Your Network Is Your Net worth’. She once said that she believed that one’s ability to build a network of authentic personal and professional relationships is the most important asset in their portfolio.
Our network is an interpersonal safety pool that ensures we have more output and personal fulfilment. Let us dive into some of the ways that a solid network can build our net worth.
1. Better Business Opportunities
Having a solid network means better business opportunities. Leaders prefer to perform important transactions with people they trust. Relationships establish and reinforce trust. Entrepreneurs seek exclusive business networking opportunities.
2. Increased Status
Getting noticed is a benefit of networking that is essential in building and growing your career and business. Being visible to the right people can boost your status among your peers in your industry.
Networking provides a great source of connections and opens the door to influential people that can be a blessing for your business. Having a relationship with certain people helps your business or career. A solid network can help build your reputation as a knowledgeable and reliable person who can provide valuable information and connections to people. You are more likely to get more referrals because you will be top of mind for people.
3. Enhanced Knowledge
Networking builds your knowledge because having like-minded people with whom you can converse allows you to learn and gain advice from them.
Solid advice from the right person can be a critical factor in business, career and personal success. That information can come from dinner meetings or even casual conversations.
4. Positive Influences
The people you spend time with influence who you are and what you become. It is essential to surround yourself with positive people that help you grow as a person. The knowledge you may gain is necessary, but the mindset you can adopt from being around progressive people is invaluable.
Many people have trouble with networking because they are introverts and feel they aren’t being helpful enough.
The secret to networking isn’t to attend a networking event, nor is it about meeting as many people as possible in hopes something will work out.
What are the challenges you have with networking? Please share in the comment section below.
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