Strategies to Effectively Expand Your Network, Your Net Worth and Achieve Your Goals
The best advice I am giving right now….INVEST TO GET INTO NEW ROOMS.
What does that actually mean?
A few things.
The phrase "It's not what you know, but who you know" has never been more relevant.
If you’re not effectively networking and putting yourself out there in a strategic way, I have a sneaking suspicion that you may be feeling a tad frustrated in some way be in career or business, especially if you have some big goals you’re looking to accomplish.
I have spent a good part of 12 months investing in myself in ways I have never had before which not only has grown my confidence as a business owner through support from mentors who have had massive success, but also has financially driven my bottom line through new clients who been referred my services.
Collectively feeling the energy around me along with multiple conversations I have had with professionals and business owners, the beginning of 2024 started off rocky however I experienced a massive business shift coming out of spring into summer (in what tends to be a slower month for my industry) and I am hitting record revenue numbers, bringing talent to my top clients hiring for their dynamic teams and building career strategies with professionals looking to get new jobs who are NAILING the interview process and getting those offer letters signed. *cheers to that*
How am I doing this so seamlessly you ask?
The key to my success has been tapping into my network more strategically and highly investing in myself to get into masterminds, hire new coaches and join meaningful business conferences which have been proven over and over can significantly impact your net worth and lead to greater success in building visibility and confidence in your professional career or as you kick off your entrepreneurial journey.
Whether you’re climbing the corporate ladder, launching a startup, or simply looking to grow your career, expanding your network is one of the most powerful tools at your disposal.
But how exactly does networking translate into increased net worth?
Here are my hot takes and tips you can leverage immediately to help you feel more confident investing in relationships to reach your goals that can pay off significantly.
Networking for Job Opportunities
One of the most direct ways networking can impact your net worth is through job opportunities.
According to a study by LinkedIn, a staggering 85% of jobs are filled through networking. This means that the majority of job openings aren't even advertised publicly.
Instead, they're filled by candidates who come recommended by someone in the network of the hiring company. This has profound implications for your career trajectory.
A strong network increases your chances of being referred to high-quality job opportunities, which can lead to better salaries, more challenging roles, and faster career growth.
Your next job—and the salary bump that comes with it—could very well come from a conversation with someone in your network.
Career Advancement
Climbing the corporate ladder or pivoting into a new job or industry is no easy feat, but a strong network can make the journey smoother.
The Center for Creative Leadership found that 95% of successful leaders attribute their career success to networking.
Building and maintaining a network helps you gain visibility within your organization, access valuable resources, and position yourself for promotions.
These promotions and career advancements contribute significantly to long-term wealth accumulation. As you move up the ranks, your salary, bonuses, and stock options grow, directly impacting your net worth.
Networking isn't just about immediate gains; it's a long-term investment in your professional future financials.
If you’re struggling with job search strategy, negotiating your worth or how to put yourself out there to effectively network, book a call with me and let’s get you feeling more confident with a better strategy and approach!
Networking For Income Growth
Coming from someone who has experienced this firsthand in my own business, the benefits of networking aren't limited to landing a job.
Active networking can also lead to significant income growth and increase your bottom line or add new streams of income (#sidehustle anyone?).
A survey by the U.S. Bureau of Labor Statistics found that people who engage in networking and participate in professional associations can see an income increase of up to 20%.
This is because networking can open doors to high-paying clients, partnerships, and collaborations that might not have been accessible otherwise.
I often see freelancers and consultants finding success and some of their most lucrative contracts come from referrals within their network. Similarly, professionals who are well-connected within their industry are more likely to be considered for promotions and leadership roles, both of which come with higher pay.
As the saying goes, “Closed Mouths Don’t Get Fed” so let your network know about your business offerings or brand partnership goals *my recommendation is to create a brand media kit for yourself, a one-sheet or a DREAM 50 client list of who you want to work with*and be sure you are specifically targeting those who should know you and what you are up to.
How can anyone recommend you if they do not know what your goals are or what you offer?
If you’re struggling with how to present yourself or pitch your brand with confidence, let’s create better assets and outreach strategies to ensure you are putting the right communication and marketing materials together and start spreading the word on how people can benefit from your services or professional experience!
Entrepreneurial Success
For entrepreneurs, networking can be the difference between success and failure.
A study by the Harvard Business Review revealed that 78% of startups attribute their success to networking. Entrepreneurs with strong networks have better access to funding, mentorship, and business opportunities—all of which directly impact their net worth.
When you're starting a business, who you know can help you secure the capital you need to get off the ground, connect you with the right partners, and provide the guidance you need to navigate challenges.
These factors are crucial in turning a startup into a thriving business, and they all stem from the power of a well-cultivated network.
Here are some of my favorite networking, funding and mastermind groups that have really helped me expand my business and make some powerful new connections:
https://www.createcultivate.com/
https://www.theblueprintmastermind.com/wintermastermind
https://www.investwithcherub.com/
The Networking Effect
The relationship between networking and wealth accumulation isn't just anecdotal; it's backed by research.
A study published in the Journal of Socio-Economics found that individuals with larger social networks tend to have higher levels of wealth. The study concluded that each additional social connection could increase an individual’s net worth by $30,000 over their lifetime.
This "network effect" occurs because each new connection has the potential to open up new opportunities, whether it's a new job, a business partnership, or an investment tip. Over time, these opportunities add up, contributing to a significant increase in wealth and opportunities.
Expanding your network is more than just collecting business cards or LinkedIn connections; it's about building meaningful relationships that can lead to financial opportunities and professional growth.
So, next time you attend a conference, join a professional group, or even strike up a conversation with someone new and see where you can find synergies to support your goals and theirs. Networking is a two-way street.
Start big, start small, just get into new rooms and invest in YOU. 💛
Need more career support or looking for better hiring strategies to add value and revenue to your team?
Explore all options to work with me and let’s tackle your biggest goals, together.
CLICK HERE TO DOWNLOAD MY EXCLUSIVE GUIDE FOR NETWORKING STRATEGIES
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