Recently, I was listening to Chas Wilson, CEO of Master Networks, speak about networking and he said something that struck a chord with me, “The size of your network equals the size of your net worth.” As entrepreneurs we are constantly aware of our net worth. We know if we are in the red or the black. We know our projections and if we are surpassing last year’s margins, but we rarely shift our focus from our net worth to our network. Imagine if we were as meticulous about our network as we are about our net worth.
Networking is building a list of trusted industry professionals as resources. Your network should be based on quality not quantity. It doesn’t matter how big your network is if it isn’t full of trusted referrals. How would it feel to become one of the biggest assets and resources to your friends, family, and clients? When they need something whether it is a realtor, handyman, painter, house cleaning service, car salesman, etc., they don’t hesitate to contact you because they know without a doubt that you know and recommend quality people. I recommend knowing and having at least 2 quality people to refer to your friends, family, or clients in each industry category.
So, what’s the size of your network? Is it the size of your desired net worth? If not, get busy building a network full of trusted resources and the size of your net worth will follow!