Your Network is your Networth.

Posted by tungstenmg on August 11, 2019
This has been a key concept I have applied ever since I began my property journey and I cannot believe how true this has become.

Your network can come from those in your immediate family, your friendship circles, your ‘job’ network, your property peers and most importantly, those people who you do not know who have the connections that you need – you do not know what you do not know.

You need to tell everyone what you are doing and what you can offer. This starts from going to Progressive Property Network (PPN) meetings, Business and Property meetings, Angel events and other business meetings through to attending high end gyms, golf clubs, exhibitions, or other places where motivated, inspirational people spend time. Rob Moore suggests spending one third of our working time networking (see Money chapter 32 for more).

Rob Moore’s top 16 ways to keep an audience interaction high is to stay relevant and consistent. You need to be seen at networking meetings each month and have valid, regular content on your social media pages as people will be watching you. You need to contact the people whose business cards you collect so that you are a real person and not just a name on a card. You need to add value to your Facebook page, by telling people what you have been up to, what you have recently read, and provide any insights into the market that others can engage with. You need to remember to give and not always take – Nick Morris, YPN June 2017 reminds us to not focus on selling your service, but to show people how your service can serve others. Social media is an extremely cost-effective way to network.

Don’t be scared to pick up the phone or use unconventional methods to reach out to people, as you need to use a medium to suit the audience you are trying to build a connection with. You need to leave a positive and lasting impression on your contact, but the receiver must be able to receive the message in the first place.

Plugging the gaps within your skill set is key to being successful in all life areas. This can be a money gap, a time gap or a knowhow gap (see Richard Brown, Property Voice). The trick is to leverage others, especially if you find you have NeTime (no extra time), and work together to achieve your own and the common goal. For example, someone will want to work for you and are content to be the property sourcer and will give you the property (for a fee) as they do not want the risk of purchasing a property or see money as a hurdle that cannot be overcome. You can utilise their time and skills to find the properties you seek.

Build a power team around you. That power team can include builders, mentors or, a Joint Venture Partner. As Mark Homer says, learn from others, so you do not make the same mistakes they have made and, learn from the best and emulate their product but with your USP where you solve and care for others.

Being surrounded by a mentor and a mastermind group allows you to build relationships which will become a key foundation in your success, and those long-term relationships which you have spent time building creates trust, goodwill, and leverage. The more you help others, the more they can help you.

 

 

Take Away Points

· Evaluate, reflect and set your goals

· Plan your time by day, week, month and year and be accountable

· Be consistent every day as those small achievements matter more than those you do every once in a while