Your Network Is Your Net Worth
It can get lonely being a real estate investor.
There are not that many people actively doing deals. There are lots of people talking about doing deals, buying assets, and establishing assets that cash flow. However, there are simply not that many people willing to make the sacrifices that will achieve that.
I’ve been there. I had great ideas and didn’t follow through with them.
Your Network Influences Your Net Worth.
This is something that has been truly remarkable for my business.
What exactly is your network? It is the people you associate with frequently. They are people you are influenced by and regularly consult for advice. Think of the five people you talk with and respect the opinions of the most. It’s important to associate with people who are ‘better’ than yourself.
This can be difficult for us to do. Most of us want to be at the top among the people we associate with. However, our network should be people who have already reached the goals we are trying to reach or are people who are moving towards those goals.
Who do you talk to on a daily or weekly basis? Which of those people are influencing your decision-making?
I’m not talking about podcasts you listen to or books you read. I’m talking about the human interactions you have on a daily or weekly basis. These are the people that have the most influence on your business, personal, and spiritual life.
Ask Yourself Three Questions
Where are these people headed?
Is this place a place where I want to head?
What is their net worth?
These question can also help you beyond the domain of real estate investing.
If the answer to any of these is No, there are some action steps you should consider.
You should consider having your network be influenced by the ideals you have and where you want to go. If you want to be a real estate investor, your network should include successful real estate investors.
What most of us have is a network that includes people just like us or a little lower than us, in terms of success. We then wonder why we are unable to reach our goals. This is why wealthy people marry other wealthy people and celebrities marry other celebrities. They are in the same network.
Making this shift does not mean you have to immediately cut off anyone in your space that doesn’t fall into this category. However, you should think about how maybe the people in your circle are not headed where you are. Maybe you should gradually change the circle of people that are influencing your net worth.
When you spend time with people who have already achieved more success than you in the area you want to be successful, you learn how they think. You learn what they think about the barriers that you perceive are being barriers.
Action Steps to Take
Put people in your circle that can positively influence the way you think.
I want to encourage you to take three actions actions.
1. Do the exercise I mentioned earlier to consider who is in your network.
2. Think about whether or not there needs to be a transition between what your network currently looks like and what it should look like based on where you want to go.
3. Send me an email at firstname.lastname@example.org. I would love to become part of your network because I’m actively trying to increase my net worth. By helping you, I’m hoping to influence your net worth and have you influence mine.
If you have the goal of increasing your net worth, you should avoid getting advice from people on how to manage your money, or how to invest, from people who are not actively investing. You should not be relying on people who have tried and failed, been too scared to get off the fence, or people who are still struggling to get started. You have to transition at some point to a different network. This is how you build up your net worth.