“The richest people in the world build networks, everyone else looks for work” – Robert Kiyosaki
Love him or hate him, Mr. Kiyosaki is onto something.
I recently spent a weekend with my mentor and I asked him “how can I find more great deals?”
The answer was: “networking”.
Other investors might ask: “how do I find money to fund my deals?”
The answer is “networking”.
This past weekend I was looking for a someone to clean a house I owned.
The solution came from “networking”.
NETWORK WITH SERIOUS MANITOBA INVESTORS! For a limited few I am giving away FREE access to my Manitoba Real Estate Investor Association meeting. Simply go to this link and reserve your free seat before they are gone.
As humans we are pack animals. We roam in gangs, we help each other, we are who we associate with. With people, just like in nature, lone wolves get slaughtered by packs of other wolves. If you are in business, you don’t want to be the lone wolf.
Early in my business/real estate investing career I used to act like the tough guy and “go it alone”. I was a one man band, a chief cook and bottle washer and the guy with all the answers. I was the smartest guy on my team, had no connections to mentors or coaches and didn’t belong to any networks.
This was the recipe for disaster. Instead of joining a few small local clubs and accessing the information of other investors and entrepreneurs in the market, I tried to re-invent the wheel. The mistakes were painful and costly and I will never forget the lessons I learned.
In business, we are always limited by the resources, skills and knowledge of our team. To grow the business we must access the skills, knowledge and resources of others and there is only one way to find the pieces of the puzzle that we are missing; and that is through networking.
EXPAND YOUR NETWORK in a FUN ATMOSPHERE! You can get FREE access to my Manitoba Real Estate Investor Association meeting to grow your buyers list, tap new deal sources, raise capital and network with no pressure. Visit this link and reserve your free seat before they are gone.
The truth is, everything we need is “out there”. The question is, “who do we need to know” to get what we need?
When I started in real estate investing as a full time investor, one of the first things I did was sit down, write out a list of names of people who would potentially have money to invest with me. What amazes me today, is that almost anyone who knows 100 people can put together $1,000,000 cash to do a deal. Almost everyone, no matter how broke, can access $10,000 cash or credit and if you know 100 people, 100 x $10,000 is $1,000,000. We all have access to at least $1,000,000 – sometimes, we just don’t know it.
The top 3 reasons why people don’t like to network and why they are wrong:
- They think that there is no one new to meet. Just when I think I know “everyone in the business”, I am proven wrong over and over again. Networking events attract all types of people and often it’s not the initial person you meet who is the most important – but the people that they know that are most important!
- They don’t want to pay fees to belong to clubs. Leads, connections and relationships are very expensive to find and maintain. Paying nominal fees to networking clubs and groups is often a very economical way to find all of the above. In many cases, the fee paid to get into the club pays for itself many times over if it’s the right group for you.
- They think that networking is a poor use of time. The best opportunities never see the light of day. Whenever a great opportunity comes along, it always goes out to someone’s personal network before going out to the public. The only way to capitalize on “hidden” opportunity is to be well connected and have a great network. For myself, when I have a deal, it is often gone in less than 30 minutes because the investors in my network snatch it up before I have a chance to show it to any outsiders.
Networking is one of the easiest ways to get a great ROI on your marketing dollars. I spend a considerable amount of my time daily networking, meeting people and finding opportunities. I also dedicate a portion of my income to clubs and associations and make sure I am an active member to maximize my opportunity for my business. If you don’t belong to any clubs, it’s time to join.