Updated: Feb 23
Networking is something that gets overlooked by a lot of young and aspiring investors. A good network of friends is key to cutting costs and making this journey a little less painful. Having someone around to help you in your areas of weakness is priceless. The idea is to recognize the strengths and weakness in your circle of friends and find ways to help each other out. Let's take a further look into what a strong network looks like and how to get yours started.
Step 1: Recognize what you bring to the table
Building a network is not about taking advantage of your friends. You need to be a great friend to attract other great friends. You want to be someone who is dependable and ready to help when the time comes. If you have the option to have margaritas by the lake or help your friend move into a new house, the choice is simple. You go help your friend. You may also have special skills that will allow you to help your friends in other ways. These might have been learned through your professional career or maybe even just a hobby of yours. Some skills will be learned through life experience. Identify all your strengths and be ready to help your friends when they are in need of your expertise.
Step 2: Identify what your friends are good at
After taking a good look at yourself, you will want to examine the strengths in your group of friends. You probably know what all your friends do for a living but have you thought about how you could be helping each other out? You might have one friend who does car maintenance and another who is in real estate. Both will be equally helpful to you throughout the years. Don't be afraid to ask your network for help. They will likely be happy to help you out if you are following step 1 correctly.
Step 3: Bring your network together
As you stumble your way through life you will continue to meet new people. Chances are you will make a friend or two at each job you hold. You might also make some through your hobbies, school, church, or even just bumping into people out in town. After a few years you probably have ended up with several different groups of friends. Bring them together. This is easier and more beneficial than you may realize. You could simply put together a monthly event where all your friends get together for a drink. Next you get everyone talking. What are they good at? What is their current worry in life? What is holding them back? The idea is for everyone to walk away understanding that they have made new friends who are ready to help each other out.
Step 4: Make it easy to reach your network
After everyone has met they will need a way to stay in touch. Rather than having to exchange numbers with everyone you could start a group chat. This could be done across many platforms and is very easy to do. The group chat will be what you make it. If you are just using it to share memes, it probably wont take you anywhere. Alternatively, you could use it as a place to ask your network for help. Maybe you need a ride or someone to watch your dog while you are out of town. If you have built your network right, it should be easy to find the help you need. This would be a great place to talk shop and find out what moves other people are making. As you continue to help each other out you will grow closer and find that creating wealth is much easier when you don't go at it alone.
Step 5: Expand your network
Now that the foundation is set, you can begin to grow your network. Continue to find like-minded people who are motivated to achieve more in life. As you introduce them to the group and the network expands, you will find you now have a guy for everything. When your network is complete you will rarely have to call a stranger for help. A large network will bring you priceless friendships and opportunities that you won't want to miss out on.
Never forget that having a strong network starts by being a good person. If you skip step 1, the rest will fail. People will not answer your call for help if you do not help them when they are in need. Start building your network today and you will see the benefits in no time. This is hands down the best investment you can make on yourself.....and it's free!
Continue to sharpen your mind by checking out our reading list! This list features a variety of topics for all knowledge levels. Pick something that interests you and have fun with it. Whether you prefer to open a hard copy by the lake or listen to an audio book on the way to work; our list will provide you with the options that work best for you!