Does Your Network Impact Your Net Worth?

Have you ever wondered how powerful social media is? Have you thought, "If I just spent a little time nurturing my social media, I might be able to get to the next level?" I can tell you unequivocally that your business can definitely scale with the right connections and strategy. Or you can meet the most interesting people for any project you are creating!

I have continued to work LinkedIn hard over the past several years. It’s been life-changing! Over the course of any given week, I’m communicating, messaging, talking to, and Zooming with surgeons, CEOs, financial gurus, billionaires, politicians, professional speakers, New York Times best-selling authors, inventors, Olympians, former NFL players, current NBA players, TEDx speakers, sports teams’ executives, influencers, course creators, podcasters, and entrepreneurs from all over the world. Every week is different, but one thing is the same: we are all connecting because we need or want something.

Some of these people are searching for an “all-in-one solution” to growing a speaking, business brand, or consulting business. Since we help from the concept to the creation of an idea to a best-selling book, to the execution of the business and the marketing, we meet people who are just starting to think about it, to those ready to jump into a full-blown PR campaign.

In the interconnected world of business and career development, the old adage "It's not what you know, but who you know" has taken on profound significance. As professionals, we often focus intensely on skill acquisition, experience, and knowledge, but how often do we evaluate the impact of our network on our net worth?

I have learned so much in the past few years that I’ve been working to build my network that I thought I’d share some thoughts about how having a great network can greatly improve your business and your life, and how that helps us have confidence and hope in our future no matter what happens in the world.

1. Opportunities for Growth

A strong network opens doors to opportunities that may not be accessible otherwise. Whether it's a new job offer, a partnership proposal, or a lucrative project, connections can be a gateway to advancements that significantly boost your earning potential. I have found that if you have the right “hook” or story, almost anyone is accessible on LinkedIn.

2. Knowledge Sharing

Your network is a reservoir of knowledge and expertise. By engaging with peers and mentors, you gain insights into industry trends, best practices, and innovative strategies that can enhance your performance and market value. The shared wisdom within your network can be a powerful tool for personal and professional growth. On Tuesdays from 12-2 weekly, I host a Masterclass/Mastermind for high achievers seeking support to enhance their thought leadership. In the group, we’ve had experts come and share their knowledge from authors to marketing, and we spend time weekly helping each other. All of these connections came from LinkedIn. (Message me for details!)

3. Support System

Navigating the professional world can be challenging. A supportive network provides guidance, encouragement, and advice during tough times. This support can be crucial in making informed decisions that positively impact your financial well-being. Our mastermind is a great support for all of the members. They’ve collaborated on speeches, gone to conferences to watch each other speak, and visited each other in their hometowns. One of my clients, a trauma surgeon, has graciously donated his time to emotionally support one of my Facebook friends’ sons who was facing a cancer diagnosis. Thankfully, the diagnosis was not cancer and all of us were so relieved. Support is crucial for all of us!

4. Visibility and Reputation

Being well-connected boosts your visibility within your industry. A reputable network can enhance your credibility and prestige, leading to more high-profile opportunities and increased earning potential. Your network can act as your personal brand ambassadors, advocating for your skills and expertise. Many of my clients come from referrals and often when we meet, we feel like old friends!

5. Collaborative Ventures

I love the quote by Helen Keller: “Alone we can do so little; together we can do so much.” Collaboration is often the key to innovation and financial success. Your network can introduce you to potential collaborators, clients, and investors who share your vision. These connections can lead to joint ventures and partnerships that are mutually beneficial.

Building a Valuable Network

Now that we understand the importance of a network, how can we build and maintain one that adds value to our net worth?

1. Be Genuine and Authentic

Authenticity fosters trust and long-lasting relationships. Be genuine in your interactions and show a real interest in the success of others. Building relationships based on trust and mutual respect is crucial. No one is perfect and all of us can have an off day, so if I’m “short” with a person or if I have to cancel a meeting for some reason, I’ll try to go the extra mile to make it up. Those little investments in being good to people have paid me back tenfold!

2. Engage Regularly

Networking is not a one-time event but an ongoing process. Engage with your connections regularly, be it through social media, industry events, or casual meetups. Consistent interaction helps maintain and strengthen your relationships. Even if you’re just posting content or commenting on others’ pages or in groups, continuing to show up week after week shows sustainability and reliability.

3. Offer Value

Networking is a two-way street. Offer your help, share your knowledge, and be a resource to others. When you provide value, people are more inclined to reciprocate and support you in your endeavors. Investing in others should become a way of life and at some point, it comes back to you. I remember for years I didn’t “need” anything from anyone but helped many along the way and secretly wondered if anyone would ever be willing to help me. I found out over time that when I did need help, people were MORE than willing to give advice, pitch in, and help me in various ways. It truly does come back to you!

4. Stay Open-Minded

Diverse networks bring diverse opportunities. Be open to connecting with individuals from various industries and backgrounds. You never know where the next big opportunity might come from. LinkedIn is a great place for this to happen, and one line you can add to every meeting is, "Do you know anyone I should meet?"

5. Leverage Social Media

Platforms like LinkedIn are invaluable tools for networking. Use them to connect with industry leaders, join professional groups, and share your expertise. Social media can exponentially expand your reach and influence.

In today's dynamic professional landscape, your network is more than just a collection of contacts; it's a crucial asset that can significantly impact your net worth. By investing time and effort into building meaningful connections, you open yourself up to a world of opportunities that can enhance both your career and financial success.

Remember, your network is your net worth. Nurture it, invest in it, and watch it grow.

About Mary Gardner

A nationally recognized speaker and public speaking coach, Mary Gardner rose to prominence in the industry as an agent at Keppler Speakers. She then founded The Coaches Certification Institute in Princeton, New Jersey, the first business and life coaching and training school on the east coast. An avid communicator with a passion for helping others find their charismatic voice, Gardner has worked to raise the profile of many executives, celebrities, professional athletes and influencers, and transition them to new, lucrative careers in the motivational speaking circuit. In her role as the President of the Inspirational Speakers Academy, she has created a workshop series that fast tracks former professional football players into an exciting new career as professional motivational speakers.

Mary draws on her experience as a television and radio host, where she appeared on Nightline, The Today Show, CNN, ABC 20/20, CBS, Fox, and MSNBC. She has addressed corporate and college audiences across the country, and her client list includes Goldman Sachs, Mercedes Benz, Computer Associates and numerous Wall Street financial institutions. She also has experience as a professional spokesperson. In a coaching capacity, Gardner has worked with astronaut Mark Kelly, professional athletes Billie Jean King, Martina Navratilova, Peggy Fleming, Bernard King, Mike Hayes and Randy Grimes as well as TV anchors, CEOs, and executives who are respected experts in their fields.