56: Your Network Determines Your NetWORTH

In this episode we discuss the power of investing into your network, and the relationships that you have in your life, and how that over time can dramatically help your business.

One of the biggest reasons why new entrepreneurs struggle early on in their business is because they don't get a ton of support from their close friends and family. The harsh reality many times when this happens, is that they are paying the price of the life that they lived prior to making the decision to start their business.

You have to view every person in your life as you having a "relational account" with them. Whenever you do something nice, show them genuine care and concern, and are generous with your time and attention, you make a deposit. If you are constantly doing this in your life, you build up your account with people.

When you first join your business and begin to approach people asking them to "help and support your new business" by trying your products or potentially join you, you're looking to make a withdrawal. If you haven't been diligent in making the deposits, the account is going to be empty.

This is a critical insight for any entrepreneur to understand. You need to be constantly focusing on investing your time and energy into your network, building up these accounts and understanding the long-term benefit this has to your business.

The good news is that no matter how bad you may have been, you can begin to tip the scales back in your favor by simply beginning to do the things that we discuss in today's episode.