The more connections you have, the more opportunities you have for great deals.
It’s been said that our net worth ultimately reflects our network. So why aren’t more of us actively building and nurturing our professional connections if we know about the massive wealth-building possibilities they create?
What cleverly disguised excuse—or if you want to sugar-coat it, “reason”—do we have for staying within our comfort zones?
The laundry list of excuses we give ourselves is long, covering everything from ignorance to just plain apathy.
Today, I’m considered a power networker and a “super connector” by the people who know me. Was this always the case? Certainly not!
Before my career in real estate investing, I ran an insurance business, primarily off referrals and repeat business. As such, I was never very motivated to actively pursue networking opportunities. My dream, my vision, my passion at that time—they were in no more than an infant state. There was too much “comfort zone living” for me during that period of my life, and the size and power of my business network certainly reflected that.
So what changed for me?
I had finally reached a point of “constructive discontent” and realized that if I wanted things to change in my life, I had to change things in my life. The actions I took on a day-to-day basis had to be completely transformed.I started feeding my mind better “mental protein” and became dedicated to continuous self-education. And there was one important lesson I learned right away.
If a person knows how to effectively set goals, there are very few things he or she can’t achieve. It’s just a matter of writing down your major goals daily and creating an action plan to accomplish them. By setting goals, any business skill can be learned—even networking.
1. Create Value for Other People First
Fast forward to the creation of my Real Estate Investment business and years later, Steadfast Capital. It was not very long before I understood that if we were to realize our individual and collective goals and dreams, we were going to need a much larger and more powerful network.
I was rehabbing remotely in different markets until I finally settled in Kansas City, Missouri, and I knew other fellow investors out there were struggling to produce deals in their own markets. This was one way we could add value to others. We would create the ability to connect a member in one market with a member in a different market so that they could network and collaborate, thus creating a much higher level of comfort and a deeper sense of accountability from both parties if they wanted to do deals together.
We have begun becoming a hub of influence and we started introducing people across the country to each other, creating many more opportunities for them.
This brings me to my first rule of networking and meeting new people: make it your goal to be able to add value to others first. Do not attend networking and social events with a “what’s in it for me?” attitude. Instead, work to make yourself valuable so you can be of value to others.
When you focus on this first, I guarantee you that value will come back to you in spades from others.
2. Risk Being Bad So You Can Be Great Later
When I really began to “network” with others, I was somewhat uncomfortable. I struggled with feelings of not knowing what I would do or what I should say to those “complete strangers” out there. So you know what I did? I went out there and did it anyway.
Why? Because anything worth doing is worth doing poorly at first. I really did not know the true value I would receive from it, but I knew it would make a difference in my business and my life.
3. Divide and Conquer
Many of us run our businesses with a partner and attend networking events with them. If this is you, here is the next rule: if you attend an event with a partner or someone else, split up! Do not remain together throughout the event or weekend. Split up and cover twice as much ground and make twice as many connections. You both have different personalities and will attract different types of people as well.
If you are interacting with someone you know would be better suited for your partner’s personality and skill set, make a warm transfer introduction and pass the conversation to him or her. The divide-and-conquer strategy at expos and other networking events is very powerful. Get out of your comfort zone and use it to your advantage.
4. You’ve Got Time … If You Use It
It has taken us years of consistent and deliberate action to grow our network to what it is today. I can tell you without question that our efforts have very much been worthwhile.
You might be reading this now and thinking that “years” sounds like a long time. Maybe you’re telling yourself that you just don’t have the time to do what is necessary. However, the months and years will pass whether or not you actively grow your network.
Why not do as much as you can?
By making networking a goal and taking deliberate action—even if it’s just one step each day—you’ll be on your way to becoming a networking superstar.
