Wealth Tactic 12

by Rick Webster  (Investor Relations, 37th Parallel Properties)

“To climb the ladder of success, you don’t need more techniques and strategies, you need more friends” -    Jeffrey Gitomer

If there’s one thing that people moving up the wealth ladder rapidly have in common, it’s the fact that they network. We have all heard the cliché, “It’s not what you know, it’s who you know.”  Like most clichés, there is more than a bit of truth to it. If you want to give yourself the best chance of increasing your wealth you’ll want to become highly skilled at the networking game.

Opportunities are plentiful but you’ll never hear about most of them – if you don’t network.  There is a virtually unlimited pool of people out there that will help you on your journey but you won’t meet most of them – if you don’t network.

Networking seems like common sense … so why don’t most people do it?  You’ll hear a variety of excuses such as “it takes too much time” and “I tried that, it didn’t work.” All of these excuses tell you one thing: This individual does not value the importance of networking!

The bottom-line is that networking is an activity that requires diligence, consistency and perseverance.  It requires that you to get out into the stream and connect with new people every day.  It requires more than most are willing to give, mainly because they don’t believe that networking can help them.

In an earlier Wealth Tactic, we spoke about the importance of building a quality team that can help you in your Real Estate Investment Efforts. Networking will help you greatly in building that All Star Team. While you can find a fine attorney or accountant by poring through the Yellow Pages, wouldn’t you rather work with someone you know, or someone that a friend recommended? Don’t you believe that individual will work harder and better for you, knowing that his or her relationship with you is at stake as they assist you? As you ask (and answer) yourself these questions, I bet that you are beginning to agree: Networking is a vitally important aspect of building your wealth.

For those that are naturally shy, or just uncomfortable with “putting themselves out there”, the first few attempts at Networking can be frightening or overwhelming. My advice to you is simple: Just get creative and have fun with it! Once you get started though it’s not nearly as arduous as it might appear.

Listed below are a few ways to get started:

1. Look up the local BNI group online and go for a visit.
2. Attend a Chamber of Commerce mixer – they are a great place to meet people.
3. Attend Trade Shows – they are a great way to find people with a particular interest.
4. Become a member of/ or attend a function sponsored by a Professional Organization, these groups are populated with people looking to advance.

Before you attend any Networking event, you should have a plan (we love plans!) Write down your action plan and determine the following: How many people can I meet? What kids of contacts am I looking to add to my circle? What do I want to tell them about myself? What do I want to learn about them? By having a plan, you will get the type of results you need to make your networking efforts as fruitful as possible.

The face of networking has changed dramatically with the advance of technology. Gone are the days of carrying around a little black book. These days, a serious networker might use his or her Smart Phone to store new contact information on the fly or even scan business cards!

It is also a good idea to use Social Media to help you grow and maintain a network. By using Facebook and Twitter, you can tell hundreds of your connections what you are doing, where you need help, or how you can help them. And, you don’t even need to leave your house to do it!

Like any other strategy in your investment plan, it makes sense to have a multi faceted approach. If you’re looking to have a little more fun as you network, you might try:

1. Playing more golf or tennis
2. Joining a flying or boating club
3. Attending more cocktail parties

What matters is that you get out into the stream and you’ll be amazed at what will happen!

You may well be the best of the best in your field.  Make no mistake, talent counts but the wealth difference is found in the application of talent.  Apply talent within the context of a clear action plan and include as many people as possible in your day to day contacts and you’ll soon be seeing opportunities knocking loudly at your door.